DUST vs. JDST
DUST (Direxion Daily Gold Miners Bear 2X Shares) and JDST (Direxion Daily Junior Gold Miners Index Bear 2X Shares) are both Leveraged Equities funds from Direxion - DUST tracks the NYSE Arca Gold Miners Index (-300%) while JDST tracks the MVIS Global Junior Gold Miners Index (-300%). Both are passively managed. Over the past 10 years, DUST returned -52.03%/yr vs -62.85%/yr for JDST. With a 0.96 correlation, they move nearly in lockstep. DUST charges 1.07%/yr vs 1.10%/yr for JDST.
Performance
DUST vs. JDST - Performance Comparison
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Returns By Period
In the year-to-date period, DUST achieves a -17.98% return, which is significantly higher than JDST's -22.39% return. Over the past 10 years, DUST has outperformed JDST with an annualized return of -52.03%, while JDST has yielded a comparatively lower -62.85% annualized return.
DUST
- 1D
- 8.73%
- 1M
- 10.22%
- YTD
- -17.98%
- 6M
- -9.99%
- 1Y
- -73.95%
- 3Y*
- -62.05%
- 5Y*
- -48.30%
- 10Y*
- -52.03%
JDST
- 1D
- 10.10%
- 1M
- 10.16%
- YTD
- -22.39%
- 6M
- -14.59%
- 1Y
- -78.52%
- 3Y*
- -68.43%
- 5Y*
- -52.81%
- 10Y*
- -62.85%
DUST vs. JDST - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DUST Direxion Daily Gold Miners Bear 2X Shares | -17.98% | -88.72% | -29.51% | -27.63% | -22.70% | -4.82% | -85.75% | -75.11% | -3.27% | -51.00% |
JDST Direxion Daily Junior Gold Miners Index Bear 2X Shares | -22.39% | -91.10% | -40.98% | -28.29% | -26.25% | 10.97% | -95.97% | -80.30% | -1.60% | -63.44% |
Correlation
The correlation between DUST and JDST is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Oct 3, 2013 | 0.96 |
The correlation between DUST and JDST has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.
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Return for Risk
DUST vs. JDST — Risk / Return Rank
DUST
JDST
DUST vs. JDST - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Gold Miners Bear 2X Shares (DUST) and Direxion Daily Junior Gold Miners Index Bear 2X Shares (JDST). 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 | JDST | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | 0.00 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 0.85 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | -0.86 | -0.88 | +0.02 |
| Martin ratioReturn relative to average drawdown | -1.13 | -1.16 | +0.02 |
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Drawdowns
DUST vs. JDST - Drawdown Comparison
The maximum DUST drawdown since its inception was -100.00%, roughly equal to the maximum JDST drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for DUST and JDST.
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Drawdown Indicators
| DUST | JDST | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -100.00% | 0.00% |
Max Drawdown (1Y)Largest decline over 1 year | -86.15% | -88.98% | +2.83% |
Max Drawdown (3Y)Largest decline over 3 years | -97.55% | -98.58% | +1.03% |
Max Drawdown (5Y)Largest decline over 5 years | -98.68% | -99.28% | +0.60% |
Max Drawdown (10Y)Largest decline over 10 years | -99.98% | -100.00% | +0.02% |
Current DrawdownCurrent decline from peak | -100.00% | -100.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -83.38% | -95.31% | +11.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 65.24% | 67.97% | -2.73% |
Volatility
DUST vs. JDST - Volatility Comparison
The current volatility for Direxion Daily Gold Miners Bear 2X Shares (DUST) is 34.13%, while Direxion Daily Junior Gold Miners Index Bear 2X Shares (JDST) has a volatility of 39.08%. This indicates that DUST experiences smaller price fluctuations and is considered to be less risky than JDST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DUST | JDST | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 34.13% | 39.08% | -4.95% |
Volatility (6M)Calculated over the trailing 6-month period | 77.03% | 85.69% | -8.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 94.59% | 103.81% | -9.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 73.10% | 82.06% | -8.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 87.25% | 104.94% | -17.69% |
DUST vs. JDST - Expense Ratio Comparison
DUST has a 1.07% expense ratio, which is lower than JDST's 1.10% expense ratio.
Dividends
DUST vs. JDST - Dividend Comparison
DUST's dividend yield for the trailing twelve months is around 7.95%, less than JDST's 10.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DUST Direxion Daily Gold Miners Bear 2X Shares | 7.95% | 12.51% | 4.99% | 4.47% | 0.00% | 0.00% | 3.60% | 2.50% | 0.37% |
JDST Direxion Daily Junior Gold Miners Index Bear 2X Shares | 10.36% | 15.08% | 6.50% | 4.81% | 0.00% | 0.00% | 11.75% | 3.16% | 0.57% |
Frequently Asked Questions
With a correlation of 0.98, DUST and JDST move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
JDST has higher volatility (39.08%) compared to DUST (34.13%). In terms of maximum drawdown, DUST dropped -100.00% vs JDST's -100.00%.
On 10-year performance, DUST leads with -52.03% vs -62.85% for JDST. On fees, DUST is cheaper at 1.07% per year. On volatility, DUST has been the lower-risk option at 34.13%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DUST has performed better with a -52.03% return vs -62.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DUST is cheaper with a 1.07% expense ratio, compared with 1.10% for JDST.
JDST has the higher dividend yield at 10.36%, compared with 7.95% for DUST.
DUST tracks NYSE Arca Gold Miners Index (-300%), while JDST tracks MVIS Global Junior Gold Miners Index (-300%). Their fees differ too: 1.07% for DUST and 1.10% for JDST.
JDST currently has the higher Sharpe Ratio (-0.76 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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