DGP vs. NUGT

Last updated Apr 1, 2026

Compare and contrast key facts about DB Gold Double Long Exchange Traded Notes (DGP) and Direxion Daily Gold Miners Bull 2X Shares (NUGT).

DGP and NUGT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. DGP is a passively managed fund by Deutsche Bank that tracks the performance of the Deutsche Bank Liquid Commodity Index-Optimum Yield Gold (200%). It was launched on Feb 27, 2008. NUGT is a passively managed fund by Direxion that tracks the performance of the NYSE Arca Gold Miners Index (300%). It was launched on Apr 1, 2020. Both DGP and NUGT are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

DGP vs. NUGT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DB Gold Double Long Exchange Traded Notes (DGP) and Direxion Daily Gold Miners Bull 2X Shares (NUGT). The values are adjusted to include any dividend payments, if applicable.

DGP vs. NUGT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DGP DB Gold Double Long Exchange Traded Notes	13.65%	141.40%	53.16%	16.97%	-5.54%	-11.29%	45.29%	32.27%	-7.48%	24.20%
NUGT Direxion Daily Gold Miners Bull 2X Shares	2.59%	425.05%	2.89%	2.60%	-32.10%	-26.31%	-60.16%	100.73%	-44.52%	3.73%

Returns By Period

In the year-to-date period, DGP achieves a 13.65% return, which is significantly higher than NUGT's 2.59% return. Over the past 10 years, DGP has outperformed NUGT with an annualized return of 22.44%, while NUGT has yielded a comparatively lower -1.76% annualized return.

DGP

• 1D: 9.12%
• 1M: -22.14%
• YTD: 13.65%
• 6M: 37.68%
• 1Y: 101.12%
• 3Y*: 63.02%
• 5Y*: 38.30%
• 10Y*: 22.44%

NUGT

• 1D: 14.02%
• 1M: -39.84%
• YTD: 2.59%
• 6M: 22.25%
• 1Y: 204.10%
• 3Y*: 67.13%
• 5Y*: 27.67%
• 10Y*: -1.76%

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

DGP vs. NUGT - Expense Ratio Comparison

DGP has a 0.75% expense ratio, which is lower than NUGT's 1.23% expense ratio.

NUGT

Direxion Daily Gold Miners Bull 2X Shares

DGP

DB Gold Double Long Exchange Traded Notes

Return for Risk

DGP vs. NUGT — Risk / Return Rank

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

DGP

DGP Risk / Return Rank: 87
DGP Sharpe Ratio Rank: 89
DGP Sortino Ratio Rank: 86
DGP Omega Ratio Rank: 83
DGP Calmar Ratio Rank: 90
DGP Martin Ratio Rank: 90

NUGT

NUGT Risk / Return Rank: 91
NUGT Sharpe Ratio Rank: 94
NUGT Sortino Ratio Rank: 88
NUGT Omega Ratio Rank: 87
NUGT Calmar Ratio Rank: 95
NUGT Martin Ratio Rank: 92

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.

DGP vs. NUGT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DB Gold Double Long Exchange Traded Notes (DGP) and Direxion Daily Gold Miners Bull 2X Shares (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.

	DGP	NUGT	Difference
Sharpe ratio Return per unit of total volatility	1.84	2.25	-0.41
Sortino ratio Return per unit of downside risk	2.24	2.36	-0.12
Omega ratio Gain probability vs. loss probability	1.32	1.34	-0.03
Calmar ratio Return relative to maximum drawdown	2.91	3.92	-1.01
Martin ratio Return relative to average drawdown	11.14	12.64	-1.50
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DGP vs. NUGT - Sharpe Ratio Comparison

The current DGP Sharpe Ratio is 1.84, which is comparable to the NUGT Sharpe Ratio of 2.25. The chart below compares the historical Sharpe Ratios of DGP and NUGT, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	DGP	NUGT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.84	2.25	-0.41
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.01	0.39	+0.61
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.64	-0.02	+0.66
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	-0.33	+0.63

Correlation

The correlation between DGP and NUGT is 0.73, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

DGP vs. NUGT - Dividend Comparison

DGP has not paid dividends to shareholders, while NUGT's dividend yield for the trailing twelve months is around 0.29%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018
DGP DB Gold Double Long Exchange Traded Notes	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
NUGT Direxion Daily Gold Miners Bull 2X Shares	0.29%	0.22%	1.79%	1.67%	0.70%	0.00%	0.00%	0.63%	0.57%

Drawdowns

DGP vs. NUGT - Drawdown Comparison

The maximum DGP drawdown since its inception was -75.31%, smaller than the maximum NUGT drawdown of -99.97%. Use the drawdown chart below to compare losses from any high point for DGP and NUGT.

Drawdown Indicators

	DGP	NUGT	Difference
Max Drawdown Largest peak-to-trough decline	-75.31%	-99.97%	+24.66%
Max Drawdown (1Y) Largest decline over 1 year	-36.58%	-53.58%	+17.00%
Max Drawdown (5Y) Largest decline over 5 years	-51.24%	-73.79%	+22.55%
Max Drawdown (10Y) Largest decline over 10 years	-51.24%	-96.91%	+45.67%
Current Drawdown Current decline from peak	-24.38%	-99.76%	+75.38%
Average Drawdown Average peak-to-trough decline	-41.24%	-91.43%	+50.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.54%	16.61%	-7.07%

Volatility

DGP vs. NUGT - Volatility Comparison

The current volatility for DB Gold Double Long Exchange Traded Notes (DGP) is 25.22%, while Direxion Daily Gold Miners Bull 2X Shares (NUGT) has a volatility of 36.87%. This indicates that DGP experiences smaller price fluctuations and is considered to be less risky than NUGT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DGP	NUGT	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.22%	36.87%	-11.65%
Volatility (6M) Calculated over the trailing 6-month period	48.02%	77.23%	-29.21%
Volatility (1Y) Calculated over the trailing 1-year period	55.31%	91.23%	-35.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.32%	70.70%	-32.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.93%	89.95%	-55.02%