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 -53.65%/yr vs -64.52%/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 -26.71% return, which is significantly higher than JDST's -30.24% return. Over the past 10 years, DUST has outperformed JDST with an annualized return of -53.65%, while JDST has yielded a comparatively lower -64.52% annualized return.
DUST
- 1D
- 6.82%
- 1M
- -4.38%
- YTD
- -26.71%
- 6M
- -36.80%
- 1Y
- -76.81%
- 3Y*
- -62.09%
- 5Y*
- -47.20%
- 10Y*
- -53.65%
JDST
- 1D
- 8.81%
- 1M
- -3.29%
- YTD
- -30.24%
- 6M
- -43.02%
- 1Y
- -80.42%
- 3Y*
- -68.21%
- 5Y*
- -51.81%
- 10Y*
- -64.52%
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 | -26.71% | -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 | -30.24% | -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 4, 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.
| DUST | JDST | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.04 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 0.82 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | -0.89 | -0.91 | +0.01 |
| Martin ratioReturn relative to average drawdown | -1.22 | -1.23 | +0.01 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| DUST | JDST | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.85 | -0.82 | -0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.66 | -0.64 | -0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.62 | -0.62 | 0.00 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.50 | -0.59 | +0.09 |
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 | -83.35% | -95.32% | +11.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 62.85% | 65.41% | -2.56% |
Volatility
DUST vs. JDST - Volatility Comparison
The current volatility for Direxion Daily Gold Miners Bear 2X Shares (DUST) is 30.34%, while Direxion Daily Junior Gold Miners Index Bear 2X Shares (JDST) has a volatility of 33.11%. 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 | 30.34% | 33.11% | -2.77% |
Volatility (6M)Calculated over the trailing 6-month period | 72.12% | 79.71% | -7.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 90.34% | 98.62% | -8.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 72.13% | 80.86% | -8.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 87.19% | 104.76% | -17.57% |
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 8.90%, less than JDST's 11.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DUST Direxion Daily Gold Miners Bear 2X Shares | 8.90% | 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 | 11.53% | 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 (33.11%) compared to DUST (30.34%). In terms of maximum drawdown, DUST dropped -100.00% vs JDST's -100.00%.
On 10-year performance, DUST leads with -53.65% vs -64.52% for JDST. On fees, DUST is cheaper at 1.07% per year. On volatility, DUST has been the lower-risk option at 30.34%. 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 -53.65% return vs -64.52%. 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 11.53%, compared with 8.90% 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 (-0.82 vs -0.85), 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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