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DULL
-1.40 · -51.77%
$1.31 · NYSE ARCA

MicroSectors™ Gold -3X Inverse Leveraged ETN (DULL) ETF Analysis | Trading--Inverse Commodities

BMO Capital Markets · USA
AUM:$10.8M
#– of – in Trading--Inverse Commodities ETFs

Educational tool only – Figures are based on historical data, holdings and expense metrics for informational purposes. This is not financial advice or a recommendation to buy or sell any security. Always conduct your own research or consult a qualified financial adviser.

Market Performance

Down 87.1% over the past year, indicating meaningful price weakness.

Cost Efficiency

Ongoing charge of 0.95% — above average for this category.

What is DULL?

The notes are designed to reflect a 3x leveraged inverse exposure to the inverse performance of the ETF on a daily basis. The notes are riskier than securities that have intermediate- or long-term investment objectives, and may not be suitable for investors who plan to hold them for a period other than one day or who have a "buy and hold" strategy.

Performance Highlights

Returns (%)
Cost & Yield (%)

Investment Breakdown

Negative 12-Month Return
DULL returned -87.1% over the past year, reflecting recent market conditions.
Higher Cost Profile
Expense ratio of 0.95% is above average. Verify whether the strategy justifies the cost.
Concentrated Holdings
Top 10 holdings account for 100.0% of the ETF — significant weight in a small number of names.
ETF Information
AUM$10.8M
Expense Ratio0.95%
Dividend Yield0.00%
Holdings1
Inception DateFeb 2023
Domicile–
Distribution–
Index–
ProviderBMO Capital Markets
Beta–
CategoryTrading--Inverse Commodities
CurrencyUSD
Portfolio Impact

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Example preview
6168
+7 points · better diversified

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Uses ISF.L (iShares FTSE 100 ETF)
Indicators

Performance Metrics

Historical returns

6M
+36.5%
1Y
-70.5%
3Y
-95.0%
5Y
-95.8%
OpenBook InsightIf you had invested £10,000 in DULL 5 years ago, it would have fallen to £421 — a loss of £9,579.

Annual Returns

Calendar year performance

DULL delivered positive returns in 0 of the last 4 calendar years.
YearDULL
2026 YTD-35.6%
2025-79.8%
2024-52.1%
2023-29.6%
CAGR 3yr-59.1%
0/4 positive yearsAvg return: -49.2%Worst year: -79.8% (2025)

Technical Analysis Summary

Automated insights from historical price action and indicators

Technical Regime: NEGATIVE
Trend Strength
0%
Negative
Volatility
76.6%
Very High
Momentum
-30.4%
30-day change
Support Level
47.03
Key floor
Key Insights
  • Price is currently below all major moving averages, indicating a weaker trend profile.
  • Momentum is downward with a 30.4% move over 30 days.
  • Elevated volatility indicates higher short-term price variability and risk.
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