DUST vs. GMOM
DUST (Direxion Daily Gold Miners Bear 2X Shares) and GMOM (Cambria Global Momentum ETF) are both exchange-traded funds - DUST is a Leveraged Equities fund tracking the NYSE Arca Gold Miners Index (-300%), while GMOM is a Momentum fund actively managed by Cambria. DUST is passively managed, while GMOM is actively managed. Over the past 10 years, DUST returned -51.62%/yr vs 7.06%/yr for GMOM. At a correlation of -0.36, they often move in opposite directions. DUST charges 1.07%/yr vs 0.96%/yr for GMOM.
Performance
DUST vs. GMOM - Performance Comparison
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Returns By Period
In the year-to-date period, DUST achieves a -13.59% return, which is significantly lower than GMOM's 5.91% return. Over the past 10 years, DUST has underperformed GMOM with an annualized return of -51.62%, while GMOM has yielded a comparatively higher 7.06% annualized return.
DUST
- 1D
- -2.91%
- 1M
- 25.95%
- YTD
- -13.59%
- 6M
- -6.56%
- 1Y
- -73.71%
- 3Y*
- -61.13%
- 5Y*
- -47.80%
- 10Y*
- -51.62%
GMOM
- 1D
- 0.61%
- 1M
- -4.96%
- YTD
- 5.91%
- 6M
- 4.60%
- 1Y
- 21.97%
- 3Y*
- 11.69%
- 5Y*
- 6.15%
- 10Y*
- 7.06%
DUST vs. GMOM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DUST Direxion Daily Gold Miners Bear 2X Shares | -13.59% | -88.72% | -29.51% | -27.63% | -22.70% | -4.82% | -85.75% | -75.11% | -3.27% | -51.00% |
GMOM Cambria Global Momentum ETF | 5.91% | 20.63% | 6.75% | 0.65% | -2.82% | 19.13% | 2.42% | 8.24% | -9.61% | 20.67% |
Correlation
The correlation between DUST and GMOM is -0.73, 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 | -0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.49 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.40 |
Correlation (All Time) Calculated using the full available price history since Nov 4, 2014 | -0.36 |
Over the past year, the inverse relationship between DUST and GMOM has strengthened: their correlation has moved from -0.36 to -0.73, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
DUST vs. GMOM — Risk / Return Rank
DUST
GMOM
DUST vs. GMOM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Gold Miners Bear 2X Shares (DUST) and Cambria Global Momentum ETF (GMOM). 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 | GMOM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.30 | ||
| Sortino ratioReturn per unit of downside risk | -3.46 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.28 | -0.42 |
| Calmar ratioReturn relative to maximum drawdown | -0.86 | 2.31 | -3.16 |
| Martin ratioReturn relative to average drawdown | -1.12 | 8.13 | -9.25 |
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Drawdowns
DUST vs. GMOM - Drawdown Comparison
The maximum DUST drawdown since its inception was -100.00%, which is greater than GMOM's maximum drawdown of -25.03%. Use the drawdown chart below to compare losses from any high point for DUST and GMOM.
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Drawdown Indicators
| DUST | GMOM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -25.03% | -74.97% |
Max Drawdown (1Y)Largest decline over 1 year | -86.15% | -9.57% | -76.58% |
Max Drawdown (3Y)Largest decline over 3 years | -97.55% | -13.73% | -83.82% |
Max Drawdown (5Y)Largest decline over 5 years | -98.68% | -19.16% | -79.52% |
Max Drawdown (10Y)Largest decline over 10 years | -99.98% | -25.03% | -74.95% |
Current DrawdownCurrent decline from peak | -100.00% | -7.04% | -92.96% |
Average DrawdownAverage peak-to-trough decline | -83.39% | -7.79% | -75.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 65.58% | 2.71% | +62.87% |
Volatility
DUST vs. GMOM - Volatility Comparison
Direxion Daily Gold Miners Bear 2X Shares (DUST) has a higher volatility of 33.93% compared to Cambria Global Momentum ETF (GMOM) at 5.26%. This indicates that DUST's price experiences larger fluctuations and is considered to be riskier than GMOM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DUST | GMOM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 33.93% | 5.26% | +28.67% |
Volatility (6M)Calculated over the trailing 6-month period | 77.07% | 12.11% | +64.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 94.90% | 14.49% | +80.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 73.21% | 14.50% | +58.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 87.26% | 12.91% | +74.35% |
DUST vs. GMOM - Expense Ratio Comparison
DUST has a 1.07% expense ratio, which is higher than GMOM's 0.96% expense ratio.
Dividends
DUST vs. GMOM - Dividend Comparison
DUST's dividend yield for the trailing twelve months is around 4.39%, more than GMOM's 1.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DUST Direxion Daily Gold Miners Bear 2X Shares | 4.39% | 12.51% | 4.99% | 4.47% | 0.00% | 0.00% | 3.60% | 2.50% | 0.37% | 0.00% | 0.00% | 0.00% |
GMOM Cambria Global Momentum ETF | 1.54% | 3.01% | 2.16% | 3.63% | 2.52% | 3.42% | 1.24% | 2.60% | 1.90% | 2.05% | 1.77% | 1.88% |
Frequently Asked Questions
DUST and GMOM have a correlation of -0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DUST has higher volatility (33.93%) compared to GMOM (5.26%). In terms of maximum drawdown, DUST dropped -100.00% vs GMOM's -25.03%.
On 10-year performance, GMOM leads with 7.06% vs -51.62% for DUST. On fees, GMOM is cheaper at 0.96% per year. On volatility, GMOM has been the lower-risk option at 5.26%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, GMOM has performed better with a 7.06% return vs -51.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GMOM is cheaper with a 0.96% expense ratio, compared with 1.07% for DUST.
DUST has the higher dividend yield at 4.39%, compared with 1.54% for GMOM.
DUST is categorized as Leveraged Equities, while GMOM is Momentum. They also come from different issuers: Direxion and Cambria. Their fees differ too: 1.07% for DUST and 0.96% for GMOM.
GMOM currently has the higher Sharpe Ratio (1.52 vs -0.78), 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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