DUST vs. SLVP
DUST (Direxion Daily Gold Miners Bear 2X Shares) and SLVP (iShares MSCI Global Silver and Metals Miners ETF) are both exchange-traded funds - DUST is a Leveraged Equities fund tracking the NYSE Arca Gold Miners Index (-300%), while SLVP is a Silver fund tracking the MSCI ACWI Select Silver Miners Investable Market Index. Both are passively managed. Over the past 10 years, DUST returned -53.65%/yr vs 13.67%/yr for SLVP. At a correlation of -0.85, they often move in opposite directions. DUST charges 1.07%/yr vs 0.39%/yr for SLVP.
Performance
DUST vs. SLVP - 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 SLVP's 2.25% return. Over the past 10 years, DUST has underperformed SLVP with an annualized return of -53.65%, while SLVP has yielded a comparatively higher 13.67% 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%
SLVP
- 1D
- -5.14%
- 1M
- 1.42%
- YTD
- 2.25%
- 6M
- 13.09%
- 1Y
- 112.07%
- 3Y*
- 52.07%
- 5Y*
- 15.97%
- 10Y*
- 13.67%
DUST vs. SLVP - 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% |
SLVP iShares MSCI Global Silver and Metals Miners ETF | 2.25% | 202.84% | 14.47% | -2.31% | -18.06% | -23.53% | 56.45% | 37.71% | -22.10% | 4.53% |
Correlation
The correlation between DUST and SLVP is -0.92, 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 | -0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.93 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.90 |
Correlation (All Time) Calculated using the full available price history since Feb 3, 2012 | -0.85 |
The correlation between DUST and SLVP has been stable across timeframes, ranging from -0.93 to -0.85 - a consistent structural relationship.
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Return for Risk
DUST vs. SLVP — Risk / Return Rank
DUST
SLVP
DUST vs. SLVP - 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 MSCI Global Silver and Metals Miners ETF (SLVP). 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 | SLVP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.98 | ||
| Sortino ratioReturn per unit of downside risk | -4.13 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 1.33 | -0.51 |
| Calmar ratioReturn relative to maximum drawdown | -0.89 | 3.36 | -4.25 |
| Martin ratioReturn relative to average drawdown | -1.22 | 8.53 | -9.75 |
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 | SLVP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.85 | 2.12 | -2.98 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.66 | 0.38 | -1.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.62 | 0.32 | -0.94 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.50 | 0.09 | -0.59 |
Drawdowns
DUST vs. SLVP - Drawdown Comparison
The maximum DUST drawdown since its inception was -100.00%, which is greater than SLVP's maximum drawdown of -80.47%. Use the drawdown chart below to compare losses from any high point for DUST and SLVP.
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Drawdown Indicators
| DUST | SLVP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -80.47% | -19.53% |
Max Drawdown (1Y)Largest decline over 1 year | -86.15% | -33.57% | -52.58% |
Max Drawdown (3Y)Largest decline over 3 years | -97.55% | -33.57% | -63.98% |
Max Drawdown (5Y)Largest decline over 5 years | -98.68% | -54.78% | -43.90% |
Max Drawdown (10Y)Largest decline over 10 years | -99.98% | -62.03% | -37.95% |
Current DrawdownCurrent decline from peak | -100.00% | -26.25% | -73.75% |
Average DrawdownAverage peak-to-trough decline | -83.35% | -46.82% | -36.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 62.85% | 13.18% | +49.67% |
Volatility
DUST vs. SLVP - Volatility Comparison
Direxion Daily Gold Miners Bear 2X Shares (DUST) has a higher volatility of 30.34% compared to iShares MSCI Global Silver and Metals Miners ETF (SLVP) at 17.59%. This indicates that DUST's price experiences larger fluctuations and is considered to be riskier than SLVP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DUST | SLVP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 30.34% | 17.59% | +12.75% |
Volatility (6M)Calculated over the trailing 6-month period | 72.12% | 43.22% | +28.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 90.34% | 53.06% | +37.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 72.13% | 42.76% | +29.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 87.19% | 42.24% | +44.95% |
DUST vs. SLVP - Expense Ratio Comparison
DUST has a 1.07% expense ratio, which is higher than SLVP's 0.39% expense ratio.
Dividends
DUST vs. SLVP - Dividend Comparison
DUST's dividend yield for the trailing twelve months is around 8.90%, more than SLVP's 1.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% | 0.00% |
SLVP iShares MSCI Global Silver and Metals Miners ETF | 1.74% | 1.78% | 1.05% | 0.88% | 0.63% | 1.63% | 2.39% | 2.03% | 1.28% | 0.85% | 2.32% | 0.72% |
Frequently Asked Questions
DUST and SLVP have a correlation of -0.92, 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 SLVP (17.59%). In terms of maximum drawdown, DUST dropped -100.00% vs SLVP's -80.47%.
On 10-year performance, SLVP leads with 13.67% vs -53.65% for DUST. On fees, SLVP is cheaper at 0.39% per year. On volatility, SLVP has been the lower-risk option at 17.59%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SLVP has performed better with a 13.67% return vs -53.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SLVP is cheaper with a 0.39% expense ratio, compared with 1.07% for DUST.
DUST has the higher dividend yield at 8.90%, compared with 1.74% for SLVP.
DUST is categorized as Leveraged Equities, while SLVP is Silver. DUST tracks NYSE Arca Gold Miners Index (-300%), while SLVP tracks MSCI ACWI Select Silver Miners Investable Market Index. They also come from different issuers: Direxion and iShares. Their fees differ too: 1.07% for DUST and 0.39% for SLVP.
SLVP currently has the higher Sharpe Ratio (2.12 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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