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 -72.70% vs 50.92% for MGNR. Their -0.67 correlation means they have often moved in opposite directions in the past. 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 -13.22% return, which is significantly lower than MGNR's 11.03% return.
DUST
- 1D
- 6.62%
- 1M
- 8.88%
- 6M
- 12.29%
- YTD
- -13.22%
- 1Y
- -72.70%
- 3Y*
- -60.67%
- 5Y*
- -47.24%
- 10Y*
- -48.81%
- ALL TIME*
- -48.48%
MGNR
- 1D
- -0.83%
- 1M
- 0.98%
- 6M
- -0.03%
- YTD
- 11.03%
- 1Y
- 50.92%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 33.68%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $30.19M | $36.63M | $44.10M | |
| $4.07M | $4.59M | $4.62M |
DUST vs. MGNR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
DUST Direxion Daily Gold Miners Bear 2X Shares | -13.22% | -88.72% | -44.66% |
MGNR American Beacon GLG Natural Resources ETF | 11.03% | 50.57% | 22.90% |
Correlation
The correlation between DUST and MGNR is -0.78, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.78 |
Correlation (All Time) Calculated using the full available price history since Feb 6, 2024 | -0.67 |
The correlation between DUST and MGNR shifts across timeframes, from -0.78 (1 year) to -0.67 (all time), reflecting how their relationship changes across market environments.
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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 | -2.74 | ||
| Sortino ratioReturn per unit of downside risk | -3.79 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 1.33 | -0.47 |
| Calmar ratioReturn relative to maximum drawdown | -0.87 | 3.19 | -4.05 |
| Martin ratioReturn relative to average drawdown | -1.09 | 8.51 | -9.60 |
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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 | -85.03% | -15.51% | -69.52% |
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% | -13.36% | -86.64% |
Average DrawdownAverage peak-to-trough decline | -83.50% | -4.38% | -79.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 68.24% | 5.80% | +62.44% |
Volatility
DUST vs. MGNR - Volatility Comparison
Direxion Daily Gold Miners Bear 2X Shares (DUST) has a higher volatility of 25.85% compared to American Beacon GLG Natural Resources ETF (MGNR) at 6.60%. 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 | 25.85% | 6.60% | +19.25% |
Volatility (6M)Calculated over the trailing 6-month period | 77.14% | 19.68% | +57.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 96.41% | 25.03% | +71.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 73.80% | 25.20% | +48.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 86.65% | 25.20% | +61.45% |
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 4.37%, more than MGNR's 0.84% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DUST Direxion Daily Gold Miners Bear 2X Shares | 4.37% | 12.51% | 4.99% | 4.47% | 0.00% | 0.00% | 3.60% | 2.50% | 0.37% |
MGNR American Beacon GLG Natural Resources ETF | 0.84% | 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 -0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DUST has higher volatility (25.85%) compared to MGNR (6.60%). In terms of maximum drawdown, DUST dropped -100.00% vs MGNR's -22.06%.
On 1-year performance, MGNR leads with 50.92% vs -72.70% for DUST. On fees, MGNR is cheaper at 0.75% per year. On volatility, MGNR has been the lower-risk option at 6.60%. 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 50.92% return vs -72.70%. 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 4.37%, compared with 0.84% 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 (1.98 vs -0.76), 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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