DUST vs. MGNR
DUST (Direxion Daily Gold Miners Bear 2X Shares) and MGNR (American Beacon GLG Natural Resources ETF) are both exchange-traded funds - DUST is a Leveraged Equities fund tracking the NYSE Arca Gold Miners Index (-300%), while MGNR is a Energy Equities fund actively managed by American Beacon. DUST is passively managed, while MGNR is actively managed. Over the past year, DUST returned -73.95% vs 54.46% for MGNR. At a correlation of -0.66, they often move in opposite directions. DUST charges 1.07%/yr vs 0.75%/yr for MGNR.
Performance
DUST vs. MGNR - Performance Comparison
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Returns By Period
In the year-to-date period, DUST achieves a -17.98% return, which is significantly lower than MGNR's 13.14% 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%
MGNR
- 1D
- -2.79%
- 1M
- -6.56%
- YTD
- 13.14%
- 6M
- 11.53%
- 1Y
- 54.46%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DUST vs. MGNR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
DUST Direxion Daily Gold Miners Bear 2X Shares | -17.98% | -88.72% | -44.66% |
MGNR American Beacon GLG Natural Resources ETF | 13.14% | 50.57% | 22.90% |
Correlation
The correlation between DUST and MGNR is -0.75, 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 | -0.75 |
Correlation (All Time) Calculated using the full available price history since Feb 6, 2024 | -0.66 |
The correlation between DUST and MGNR has been stable across timeframes, ranging from -0.75 to -0.66 - a consistent structural relationship.
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Return for Risk
DUST vs. MGNR — Risk / Return Rank
DUST
MGNR
DUST vs. MGNR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Gold Miners Bear 2X Shares (DUST) and American Beacon GLG Natural Resources ETF (MGNR). 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 | MGNR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.02 | ||
| Sortino ratioReturn per unit of downside risk | -4.15 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.38 | -0.53 |
| Calmar ratioReturn relative to maximum drawdown | -0.86 | 4.42 | -5.28 |
| Martin ratioReturn relative to average drawdown | -1.13 | 15.21 | -16.35 |
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Drawdowns
DUST vs. MGNR - Drawdown Comparison
The maximum DUST drawdown since its inception was -100.00%, which is greater than MGNR's maximum drawdown of -22.06%. Use the drawdown chart below to compare losses from any high point for DUST and MGNR.
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Drawdown Indicators
| DUST | MGNR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -22.06% | -77.94% |
Max Drawdown (1Y)Largest decline over 1 year | -86.15% | -12.38% | -73.77% |
Max Drawdown (3Y)Largest decline over 3 years | -97.55% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -98.68% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -99.98% | — | — |
Current DrawdownCurrent decline from peak | -100.00% | -11.71% | -88.29% |
Average DrawdownAverage peak-to-trough decline | -83.38% | -3.95% | -79.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 65.24% | 3.59% | +61.65% |
Volatility
DUST vs. MGNR - Volatility Comparison
Direxion Daily Gold Miners Bear 2X Shares (DUST) has a higher volatility of 34.13% compared to American Beacon GLG Natural Resources ETF (MGNR) at 9.30%. This indicates that DUST's price experiences larger fluctuations and is considered to be riskier than MGNR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DUST | MGNR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 34.13% | 9.30% | +24.83% |
Volatility (6M)Calculated over the trailing 6-month period | 77.03% | 19.28% | +57.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 94.59% | 24.46% | +70.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 73.10% | 25.32% | +47.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 87.25% | 25.32% | +61.93% |
DUST vs. MGNR - Expense Ratio Comparison
DUST has a 1.07% expense ratio, which is higher than MGNR's 0.75% expense ratio.
Dividends
DUST vs. MGNR - Dividend Comparison
DUST's dividend yield for the trailing twelve months is around 7.95%, more than MGNR's 1.19% 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% |
MGNR American Beacon GLG Natural Resources ETF | 1.19% | 1.17% | 0.79% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DUST and MGNR have a correlation of -0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DUST has higher volatility (34.13%) compared to MGNR (9.30%). In terms of maximum drawdown, DUST dropped -100.00% vs MGNR's -22.06%.
On 1-year performance, MGNR leads with 54.46% vs -73.95% for DUST. On fees, MGNR is cheaper at 0.75% per year. On volatility, MGNR has been the lower-risk option at 9.30%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, MGNR has performed better with a 54.46% return vs -73.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MGNR is cheaper with a 0.75% expense ratio, compared with 1.07% for DUST.
DUST has the higher dividend yield at 7.95%, compared with 1.19% for MGNR.
DUST is categorized as Leveraged Equities, while MGNR is Energy Equities. They also come from different issuers: Direxion and American Beacon. Their fees differ too: 1.07% for DUST and 0.75% for MGNR.
MGNR currently has the higher Sharpe Ratio (2.24 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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