Underlying Gold Bullion Price: RUDB.TO tracks the daily performance of the Solactive Gold Daily Leverage index, which provides a 2x leveraged exposure to the daily performance of gold bullion. Therefore, fluctuations in the spot price of gold have a magnified impact on the ETF's value. A rise in gold prices typically leads to a larger increase in RUDB.TO's price, while a fall in gold prices can result in a more substantial decrease.

Leverage Factor: As a leveraged ETF, RUDB.TO aims to deliver twice the daily performance of its underlying index. This leverage amplifies both gains and losses. Rebalancing occurs frequently to maintain the target leverage ratio, which can lead to a phenomenon called "volatility drag," potentially eroding returns over time, especially during periods of high volatility.

Management Fees and Expenses: The ETF's operating expenses, including management fees, affect its net asset value (NAV). These expenses are deducted from the ETF's assets, reducing the returns passed on to investors. Higher expense ratios result in lower returns relative to the underlying index performance.