DUST vs. EPU
DUST (Direxion Daily Gold Miners Bear 2X Shares) and EPU (iShares MSCI Peru ETF) are both exchange-traded funds - DUST is a Leveraged Equities fund tracking the NYSE Arca Gold Miners Index (-300%), while EPU is a Mid Cap Blend Equities fund tracking the MSCI All Peru Capped Index. Both are passively managed. Over the past 10 years, DUST returned -49.61%/yr vs 13.64%/yr for EPU. At a correlation of -0.51, they often move in opposite directions. DUST charges 1.07%/yr vs 0.59%/yr for EPU.
Performance
DUST vs. EPU - Performance Comparison
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Returns By Period
In the year-to-date period, DUST achieves a -9.29% return, which is significantly lower than EPU's 19.72% return. Over the past 10 years, DUST has underperformed EPU with an annualized return of -49.61%, while EPU has yielded a comparatively higher 13.64% annualized return.
DUST
- 1D
- 5.73%
- 1M
- 13.84%
- 6M
- 13.42%
- YTD
- -9.29%
- 1Y
- -71.58%
- 3Y*
- -58.72%
- 5Y*
- -46.95%
- 10Y*
- -49.61%
EPU
- 1D
- -1.33%
- 1M
- -1.08%
- 6M
- 7.53%
- YTD
- 19.72%
- 1Y
- 78.12%
- 3Y*
- 43.35%
- 5Y*
- 29.94%
- 10Y*
- 13.64%
DUST vs. EPU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DUST Direxion Daily Gold Miners Bear 2X Shares | -9.29% | -88.72% | -29.51% | -27.63% | -22.70% | -4.82% | -85.75% | -75.11% | -3.27% | -51.00% |
EPU iShares MSCI Peru ETF | 19.72% | 86.87% | 21.73% | 25.34% | 2.05% | -11.81% | -4.31% | 7.30% | -12.17% | 29.70% |
Correlation
The correlation between DUST and EPU is -0.74, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.69 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.64 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.53 |
Correlation (All Time) Calculated using the full available price history since Dec 8, 2010 | -0.51 |
Over the past year, the inverse relationship between DUST and EPU has strengthened: their correlation has moved from -0.51 to -0.74, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
DUST vs. EPU — Risk / Return Rank
DUST
EPU
DUST vs. EPU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Gold Miners Bear 2X Shares (DUST) and iShares MSCI Peru ETF (EPU). 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.
| DUST | EPU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.24 | ||
| Sortino ratioReturn per unit of downside risk | -4.18 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 1.39 | -0.52 |
| Calmar ratioReturn relative to maximum drawdown | -0.84 | 3.77 | -4.60 |
| Martin ratioReturn relative to average drawdown | -1.07 | 10.39 | -11.46 |
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Drawdowns
DUST vs. EPU - Drawdown Comparison
The maximum DUST drawdown since its inception was -100.00%, which is greater than EPU's maximum drawdown of -60.62%. Use the drawdown chart below to compare losses from any high point for DUST and EPU.
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Drawdown Indicators
| DUST | EPU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -60.62% | -39.38% |
Max Drawdown (1Y)Largest decline over 1 year | -85.83% | -20.85% | -64.98% |
Max Drawdown (3Y)Largest decline over 3 years | -97.55% | -20.85% | -76.70% |
Max Drawdown (5Y)Largest decline over 5 years | -98.68% | -35.59% | -63.09% |
Max Drawdown (10Y)Largest decline over 10 years | -99.98% | -50.97% | -49.01% |
Current DrawdownCurrent decline from peak | -100.00% | -7.70% | -92.30% |
Average DrawdownAverage peak-to-trough decline | -83.44% | -18.76% | -64.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 66.80% | 7.54% | +59.26% |
Volatility
DUST vs. EPU - Volatility Comparison
Direxion Daily Gold Miners Bear 2X Shares (DUST) has a higher volatility of 30.11% compared to iShares MSCI Peru ETF (EPU) at 9.54%. This indicates that DUST's price experiences larger fluctuations and is considered to be riskier than EPU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DUST | EPU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 30.11% | 9.54% | +20.57% |
Volatility (6M)Calculated over the trailing 6-month period | 77.11% | 27.25% | +49.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 95.53% | 31.60% | +63.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 73.48% | 25.20% | +48.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 86.97% | 23.65% | +63.32% |
DUST vs. EPU - Expense Ratio Comparison
DUST has a 1.07% expense ratio, which is higher than EPU's 0.59% expense ratio.
Dividends
DUST vs. EPU - Dividend Comparison
DUST's dividend yield for the trailing twelve months is around 4.18%, more than EPU's 2.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DUST Direxion Daily Gold Miners Bear 2X Shares | 4.18% | 12.51% | 4.99% | 4.47% | 0.00% | 0.00% | 3.60% | 2.50% | 0.37% | 0.00% | 0.00% | 0.00% |
EPU iShares MSCI Peru ETF | 2.00% | 1.63% | 5.78% | 4.17% | 5.56% | 3.13% | 1.91% | 2.67% | 1.53% | 3.30% | 0.85% | 1.90% |
Frequently Asked Questions
DUST and EPU have a correlation of -0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DUST has higher volatility (30.11%) compared to EPU (9.54%). In terms of maximum drawdown, DUST dropped -100.00% vs EPU's -60.62%.
On 10-year performance, EPU leads with 13.64% vs -49.61% for DUST. On fees, EPU is cheaper at 0.59% per year. On volatility, EPU has been the lower-risk option at 9.54%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, EPU has performed better with a 13.64% return vs -49.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EPU is cheaper with a 0.59% expense ratio, compared with 1.07% for DUST.
DUST has the higher dividend yield at 4.18%, compared with 2.00% for EPU.
DUST is categorized as Leveraged Equities, while EPU is Mid Cap Blend Equities. DUST tracks NYSE Arca Gold Miners Index (-300%), while EPU tracks MSCI All Peru Capped Index. They also come from different issuers: Direxion and iShares. Their fees differ too: 1.07% for DUST and 0.59% for EPU.
EPU currently has the higher Sharpe Ratio (2.49 vs -0.75), 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.
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