DUST vs. JNUG
DUST (Direxion Daily Gold Miners Bear 2X Shares) and JNUG (Direxion Daily Junior Gold Miners Index Bull 2X ETF) are both exchange-traded funds - DUST is a Leveraged Equities fund tracking the NYSE Arca Gold Miners Index (-300%), while JNUG is a Gold fund tracking the MVIS Global Junior Gold Miners Index (200%). Both are passively managed. Over the past 10 years, DUST returned -52.03%/yr vs -28.10%/yr for JNUG. At a correlation of -0.96, they often move in opposite directions. DUST charges 1.07%/yr vs 1.03%/yr for JNUG.
Performance
DUST vs. JNUG - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, DUST achieves a -17.98% return, which is significantly higher than JNUG's -37.86% return. Over the past 10 years, DUST has underperformed JNUG with an annualized return of -52.03%, while JNUG has yielded a comparatively higher -28.10% 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%
JNUG
- 1D
- -10.74%
- 1M
- -22.85%
- YTD
- -37.86%
- 6M
- -44.47%
- 1Y
- 60.12%
- 3Y*
- 61.56%
- 5Y*
- 9.70%
- 10Y*
- -28.10%
DUST vs. JNUG - 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% |
JNUG Direxion Daily Junior Gold Miners Index Bull 2X ETF | -37.86% | 478.59% | 9.96% | -4.79% | -43.60% | -46.61% | -85.51% | 82.43% | -48.11% | -20.18% |
Correlation
The correlation between DUST and JNUG is -0.98, 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 | -0.98 |
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 JNUG has been stable across timeframes, ranging from -0.98 to -0.96 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
DUST vs. JNUG — Risk / Return Rank
DUST
JNUG
DUST vs. JNUG - 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 Bull 2X ETF (JNUG). 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 | JNUG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.36 | ||
| Sortino ratioReturn per unit of downside risk | -2.78 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.18 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | -0.86 | 0.89 | -1.75 |
| Martin ratioReturn relative to average drawdown | -1.13 | 2.10 | -3.23 |
Loading charts...
Drawdowns
DUST vs. JNUG - Drawdown Comparison
The maximum DUST drawdown since its inception was -100.00%, roughly equal to the maximum JNUG drawdown of -99.95%. Use the drawdown chart below to compare losses from any high point for DUST and JNUG.
Loading charts...
Drawdown Indicators
| DUST | JNUG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -99.95% | -0.05% |
Max Drawdown (1Y)Largest decline over 1 year | -86.15% | -67.53% | -18.62% |
Max Drawdown (3Y)Largest decline over 3 years | -97.55% | -67.53% | -30.02% |
Max Drawdown (5Y)Largest decline over 5 years | -98.68% | -76.67% | -22.01% |
Max Drawdown (10Y)Largest decline over 10 years | -99.98% | -99.66% | -0.32% |
Current DrawdownCurrent decline from peak | -100.00% | -99.66% | -0.34% |
Average DrawdownAverage peak-to-trough decline | -83.38% | -93.88% | +10.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 65.24% | 28.74% | +36.50% |
Volatility
DUST vs. JNUG - Volatility Comparison
The current volatility for Direxion Daily Gold Miners Bear 2X Shares (DUST) is 34.13%, while Direxion Daily Junior Gold Miners Index Bull 2X ETF (JNUG) has a volatility of 40.54%. This indicates that DUST experiences smaller price fluctuations and is considered to be less risky than JNUG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| DUST | JNUG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 34.13% | 40.54% | -6.41% |
Volatility (6M)Calculated over the trailing 6-month period | 77.03% | 90.30% | -13.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 94.59% | 104.33% | -9.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 73.10% | 81.63% | -8.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 87.25% | 106.71% | -19.46% |
DUST vs. JNUG - Expense Ratio Comparison
DUST has a 1.07% expense ratio, which is higher than JNUG's 1.03% expense ratio.
Dividends
DUST vs. JNUG - Dividend Comparison
DUST's dividend yield for the trailing twelve months is around 7.95%, more than JNUG's 1.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% |
JNUG Direxion Daily Junior Gold Miners Index Bull 2X ETF | 1.98% | 1.04% | 2.01% | 1.62% | 0.00% | 0.52% | 0.10% | 0.46% | 0.06% | 0.51% |
Frequently Asked Questions
DUST and JNUG have a correlation of -0.98, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JNUG has higher volatility (40.54%) compared to DUST (34.13%). In terms of maximum drawdown, DUST dropped -100.00% vs JNUG's -99.95%.
On 10-year performance, JNUG leads with -28.10% vs -52.03% for DUST. On fees, JNUG is cheaper at 1.03% 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, JNUG has performed better with a -28.10% return vs -52.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JNUG is cheaper with a 1.03% expense ratio, compared with 1.07% for DUST.
DUST has the higher dividend yield at 7.95%, compared with 1.98% for JNUG.
DUST is categorized as Leveraged Equities, while JNUG is Gold. DUST tracks NYSE Arca Gold Miners Index (-300%), while JNUG tracks MVIS Global Junior Gold Miners Index (200%). Their fees differ too: 1.07% for DUST and 1.03% for JNUG.
JNUG currently has the higher Sharpe Ratio (0.58 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.
Find the right allocation for DUST and JNUG
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer