DUST vs. SGOV
DUST (Direxion Daily Gold Miners Bear 2X Shares) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both exchange-traded funds - DUST is a Leveraged Equities fund tracking the NYSE Arca Gold Miners Index (-300%), while SGOV is a Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Securities Index. Both are passively managed. Over the past 5 years, DUST returned -47.20%/yr vs 3.54%/yr for SGOV. At a correlation of -0.01, they often move in opposite directions. DUST charges 1.07%/yr vs 0.09%/yr for SGOV.
Performance
DUST vs. SGOV - Performance Comparison
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Returns By Period
In the year-to-date period, DUST achieves a -26.71% return, which is significantly lower than SGOV's 1.51% 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%
SGOV
- 1D
- 0.01%
- 1M
- 0.29%
- YTD
- 1.51%
- 6M
- 1.80%
- 1Y
- 3.95%
- 3Y*
- 4.72%
- 5Y*
- 3.54%
- 10Y*
- —
DUST vs. SGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
DUST Direxion Daily Gold Miners Bear 2X Shares | -26.71% | -88.72% | -29.51% | -27.63% | -22.70% | -4.82% | -34.17% |
SGOV iShares 0-3 Month Treasury Bond ETF | 1.51% | 4.24% | 5.27% | 5.12% | 1.58% | 0.04% | 0.05% |
Correlation
The correlation between DUST and SGOV is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.00 |
Correlation (All Time) Calculated using the full available price history since May 29, 2020 | -0.01 |
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Return for Risk
DUST vs. SGOV — Risk / Return Rank
DUST
SGOV
DUST vs. SGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Gold Miners Bear 2X Shares (DUST) and iShares 0-3 Month Treasury Bond ETF (SGOV). 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 | SGOV | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.85 | 20.28 | -21.13 |
Sortino ratioReturn per unit of downside risk | -1.73 | 275.69 | -277.42 |
Omega ratioGain probability vs. loss probability | 0.82 | 195.55 | -194.73 |
Calmar ratioReturn relative to maximum drawdown | -0.89 | 398.20 | -399.09 |
Martin ratioReturn relative to average drawdown | -1.22 | 4,462.00 | -4,463.22 |
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 | SGOV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.85 | 20.28 | -21.13 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.66 | 14.73 | -15.39 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.62 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.50 | 12.48 | -12.99 |
Drawdowns
DUST vs. SGOV - Drawdown Comparison
The maximum DUST drawdown since its inception was -100.00%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for DUST and SGOV.
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Drawdown Indicators
| DUST | SGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -0.03% | -99.97% |
Max Drawdown (1Y)Largest decline over 1 year | -86.15% | -0.01% | -86.14% |
Max Drawdown (3Y)Largest decline over 3 years | -97.55% | -0.01% | -97.54% |
Max Drawdown (5Y)Largest decline over 5 years | -98.68% | -0.03% | -98.65% |
Max Drawdown (10Y)Largest decline over 10 years | -99.98% | — | — |
Current DrawdownCurrent decline from peak | -100.00% | 0.00% | -100.00% |
Average DrawdownAverage peak-to-trough decline | -83.35% | -0.00% | -83.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 62.85% | 0.00% | +62.85% |
Volatility
DUST vs. SGOV - Volatility Comparison
Direxion Daily Gold Miners Bear 2X Shares (DUST) has a higher volatility of 30.34% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.05%. This indicates that DUST's price experiences larger fluctuations and is considered to be riskier than SGOV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DUST | SGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 30.34% | 0.05% | +30.29% |
Volatility (6M)Calculated over the trailing 6-month period | 72.12% | 0.13% | +71.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 90.34% | 0.20% | +90.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 72.13% | 0.24% | +71.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 87.19% | 0.24% | +86.95% |
DUST vs. SGOV - Expense Ratio Comparison
DUST has a 1.07% expense ratio, which is higher than SGOV's 0.09% expense ratio.
Dividends
DUST vs. SGOV - Dividend Comparison
DUST's dividend yield for the trailing twelve months is around 8.90%, more than SGOV's 3.86% 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% |
SGOV iShares 0-3 Month Treasury Bond ETF | 3.86% | 4.10% | 5.10% | 4.87% | 1.45% | 0.03% | 0.05% | 0.00% | 0.00% |
Frequently Asked Questions
DUST and SGOV have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DUST has higher volatility (30.34%) compared to SGOV (0.05%). In terms of maximum drawdown, DUST dropped -100.00% vs SGOV's -0.03%.
On 5-year performance, SGOV leads with 3.54% vs -47.20% for DUST. On fees, SGOV is cheaper at 0.09% per year. On volatility, SGOV has been the lower-risk option at 0.05%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SGOV has performed better with a 3.54% return vs -47.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SGOV is cheaper with a 0.09% expense ratio, compared with 1.07% for DUST.
DUST has the higher dividend yield at 8.90%, compared with 3.86% for SGOV.
DUST is categorized as Leveraged Equities, while SGOV is Ultrashort Bond. DUST tracks NYSE Arca Gold Miners Index (-300%), while SGOV tracks ICE 0-3 Month US Treasury Securities Index. They also come from different issuers: Direxion and iShares. Their fees differ too: 1.07% for DUST and 0.09% for SGOV.
SGOV currently has the higher Sharpe Ratio (20.28 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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