AVL vs. NUGT

Last updated Jun 25, 2026

AVL (Direxion Daily AVGO Bull 2X Shares) and NUGT (Direxion Daily Gold Miners Index Bull 2X ETF) are both exchange-traded funds - AVL is a Leveraged Equities fund actively managed by Direxion, while NUGT is a Gold fund tracking the MarketVector Global Gold Miners Index (200%). AVL is actively managed, while NUGT is passively managed. Over the past year, AVL returned 55.05% vs 55.32% for NUGT. At a 0.21 correlation, their price movements are largely independent. AVL charges 1.04%/yr vs 1.13%/yr for NUGT.

Performance

AVL vs. NUGT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily AVGO Bull 2X Shares (AVL) and Direxion Daily Gold Miners Index Bull 2X ETF (NUGT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AVL achieves a 4.18% return, which is significantly higher than NUGT's -37.41% return.

AVL

• 1D: 0.96%
• 1M: -19.32%
• YTD: 4.18%
• 6M: 1.69%
• 1Y: 55.05%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NUGT

• 1D: -7.97%
• 1M: -25.90%
• YTD: -37.41%
• 6M: -43.27%
• 1Y: 55.32%
• 3Y*: 51.47%
• 5Y*: 15.19%
• 10Y*: -12.35%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AVL vs. NUGT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
AVL Direxion Daily AVGO Bull 2X Shares	4.18%	54.38%	38.75%
NUGT Direxion Daily Gold Miners Index Bull 2X ETF	-37.41%	425.05%	-24.68%

Correlation

The correlation between AVL and NUGT is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.26
Correlation (All Time) Calculated using the full available price history since Oct 10, 2024	0.21

AVL vs. NUGT - Sectors Allocation Comparison

Sectors	AVL	NUGT
Technology	100.0%	-
Basic Materials	-	100.0%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

AVL vs. NUGT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AVL

AVL Risk / Return Rank: 24
AVL Sharpe Ratio Rank: 19
AVL Sortino Ratio Rank: 28
AVL Omega Ratio Rank: 28
AVL Calmar Ratio Rank: 24
AVL Martin Ratio Rank: 20

NUGT

NUGT Risk / Return Rank: 22
NUGT Sharpe Ratio Rank: 19
NUGT Sortino Ratio Rank: 25
NUGT Omega Ratio Rank: 27
NUGT Calmar Ratio Rank: 21
NUGT Martin Ratio Rank: 19

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AVL vs. NUGT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily AVGO Bull 2X Shares (AVL) and Direxion Daily Gold Miners Index Bull 2X ETF (NUGT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AVL	NUGT	Difference
Sharpe ratio: Return per unit of total volatility	0.60	0.59	+0.01
Sortino ratio: Return per unit of downside risk	1.40	1.29	+0.10
Omega ratio: Gain probability vs. loss probability	1.18	1.18	0.00
Calmar ratio: Return relative to maximum drawdown	1.03	0.88	+0.15
Martin ratio: Return relative to average drawdown	2.17	2.07	+0.10

AVL vs. NUGT - Sharpe Ratio Comparison

The current AVL Sharpe Ratio is 0.60, which is comparable to the NUGT Sharpe Ratio of 0.59. The chart below compares the historical Sharpe Ratios of AVL and NUGT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AVL vs. NUGT - Drawdown Comparison

The maximum AVL drawdown since its inception was -70.63%, smaller than the maximum NUGT drawdown of -99.97%. Use the drawdown chart below to compare losses from any high point for AVL and NUGT.

Drawdown Indicators

	AVL	NUGT	Difference
Max Drawdown Largest peak-to-trough decline	-70.63%	-99.97%	+29.34%
Max Drawdown (1Y) Largest decline over 1 year	-53.69%	-63.43%	+9.74%
Max Drawdown (3Y) Largest decline over 3 years	—	-63.43%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-73.72%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-96.91%	—
Current Drawdown Current decline from peak	-40.05%	-99.85%	+59.80%
Average Drawdown Average peak-to-trough decline	-23.84%	-91.53%	+67.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.46%	26.81%	-1.35%

Volatility

AVL vs. NUGT - Volatility Comparison

Direxion Daily AVGO Bull 2X Shares (AVL) has a higher volatility of 45.25% compared to Direxion Daily Gold Miners Index Bull 2X ETF (NUGT) at 35.78%. This indicates that AVL's price experiences larger fluctuations and is considered to be riskier than NUGT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVL	NUGT	Difference
Volatility (1M) Calculated over the trailing 1-month period	45.25%	35.78%	+9.47%
Volatility (6M) Calculated over the trailing 6-month period	67.26%	80.55%	-13.29%
Volatility (1Y) Calculated over the trailing 1-year period	92.85%	94.63%	-1.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	107.67%	73.02%	+34.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	107.67%	87.99%	+19.68%

AVL vs. NUGT - Expense Ratio Comparison

AVL has a 1.04% expense ratio, which is lower than NUGT's 1.13% expense ratio.

Dividends

AVL vs. NUGT - Dividend Comparison

AVL's dividend yield for the trailing twelve months is around 28.48%, more than NUGT's 0.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
AVL Direxion Daily AVGO Bull 2X Shares	28.48%	29.04%	0.22%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
NUGT Direxion Daily Gold Miners Index Bull 2X ETF	0.62%	0.22%	1.79%	1.67%	0.70%	0.00%	0.00%	0.63%	0.57%

Frequently Asked Questions

Can I hold both AVL and NUGT in my portfolio?

AVL and NUGT have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AVL or NUGT?

AVL has higher volatility (45.25%) compared to NUGT (35.78%). In terms of maximum drawdown, AVL dropped -70.63% vs NUGT's -99.97%.

Which ETF is better, AVL or NUGT?

On 1-year performance, NUGT leads with 55.32% vs 55.05% for AVL. On fees, AVL is cheaper at 1.04% per year. On volatility, NUGT has been the lower-risk option at 35.78%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AVL or NUGT?

Over the 1-year period, NUGT has performed better with a 55.32% return vs 55.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AVL or NUGT?

AVL is cheaper with a 1.04% expense ratio, compared with 1.13% for NUGT.

Which ETF pays a higher dividend yield, AVL or NUGT?

AVL has the higher dividend yield at 28.48%, compared with 0.62% for NUGT.

What is the main difference between AVL and NUGT?

AVL is categorized as Leveraged Equities, while NUGT is Gold. Their fees differ too: 1.04% for AVL and 1.13% for NUGT.

Which has better risk-adjusted returns?

AVL currently has the higher Sharpe Ratio (0.60 vs 0.59), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.