DUST vs. SLVR
DUST (Direxion Daily Gold Miners Bear 2X Shares) and SLVR (Sprott Silver Miners & Physical Silver ETF) are both exchange-traded funds - DUST is a Leveraged Equities fund tracking the NYSE Arca Gold Miners Index (-300%), while SLVR is a Silver fund tracking the Nasdaq Sprott Silver Miners™ Index. Both are passively managed. Over the past year, DUST returned -76.81% vs 118.11% for SLVR. At a correlation of -0.86, they often move in opposite directions. DUST charges 1.07%/yr vs 0.65%/yr for SLVR.
Performance
DUST vs. SLVR - 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 SLVR's 6.80% 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%
SLVR
- 1D
- -5.47%
- 1M
- 1.96%
- YTD
- 6.80%
- 6M
- 18.93%
- 1Y
- 118.11%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DUST vs. SLVR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
DUST Direxion Daily Gold Miners Bear 2X Shares | -26.71% | -86.72% |
SLVR Sprott Silver Miners & Physical Silver ETF | 6.80% | 170.44% |
Correlation
The correlation between DUST and SLVR is -0.87, 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 | -0.87 |
Correlation (All Time) Calculated using the full available price history since Jan 16, 2025 | -0.86 |
The correlation between DUST and SLVR has been stable across timeframes, ranging from -0.87 to -0.86 - a consistent structural relationship.
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Return for Risk
DUST vs. SLVR — Risk / Return Rank
DUST
SLVR
DUST vs. SLVR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Gold Miners Bear 2X Shares (DUST) and Sprott Silver Miners & Physical Silver ETF (SLVR). 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 | SLVR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.78 | ||
| Sortino ratioReturn per unit of downside risk | -3.97 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 1.31 | -0.49 |
| Calmar ratioReturn relative to maximum drawdown | -0.89 | 3.08 | -3.97 |
| Martin ratioReturn relative to average drawdown | -1.22 | 7.66 | -8.89 |
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 | SLVR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.85 | 1.93 | -2.78 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.66 | — | — |
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 | 2.02 | -2.52 |
Drawdowns
DUST vs. SLVR - Drawdown Comparison
The maximum DUST drawdown since its inception was -100.00%, which is greater than SLVR's maximum drawdown of -38.60%. Use the drawdown chart below to compare losses from any high point for DUST and SLVR.
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Drawdown Indicators
| DUST | SLVR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -38.60% | -61.40% |
Max Drawdown (1Y)Largest decline over 1 year | -86.15% | -38.60% | -47.55% |
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% | -28.51% | -71.49% |
Average DrawdownAverage peak-to-trough decline | -83.35% | -9.24% | -74.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 62.85% | 15.47% | +47.38% |
Volatility
DUST vs. SLVR - Volatility Comparison
Direxion Daily Gold Miners Bear 2X Shares (DUST) has a higher volatility of 30.34% compared to Sprott Silver Miners & Physical Silver ETF (SLVR) at 19.31%. This indicates that DUST's price experiences larger fluctuations and is considered to be riskier than SLVR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DUST | SLVR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 30.34% | 19.31% | +11.03% |
Volatility (6M)Calculated over the trailing 6-month period | 72.12% | 51.02% | +21.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 90.34% | 61.64% | +28.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 72.13% | 57.85% | +14.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 87.19% | 57.85% | +29.34% |
DUST vs. SLVR - Expense Ratio Comparison
DUST has a 1.07% expense ratio, which is higher than SLVR's 0.65% expense ratio.
Dividends
DUST vs. SLVR - Dividend Comparison
DUST's dividend yield for the trailing twelve months is around 8.90%, more than SLVR's 3.45% 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% |
SLVR Sprott Silver Miners & Physical Silver ETF | 3.45% | 3.68% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DUST and SLVR have a correlation of -0.87, 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 SLVR (19.31%). In terms of maximum drawdown, DUST dropped -100.00% vs SLVR's -38.60%.
On 1-year performance, SLVR leads with 118.11% vs -76.81% for DUST. On fees, SLVR is cheaper at 0.65% per year. On volatility, SLVR has been the lower-risk option at 19.31%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SLVR has performed better with a 118.11% return vs -76.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SLVR is cheaper with a 0.65% expense ratio, compared with 1.07% for DUST.
DUST has the higher dividend yield at 8.90%, compared with 3.45% for SLVR.
DUST is categorized as Leveraged Equities, while SLVR is Silver. DUST tracks NYSE Arca Gold Miners Index (-300%), while SLVR tracks Nasdaq Sprott Silver Miners™ Index. They also come from different issuers: Direxion and Sprott. Their fees differ too: 1.07% for DUST and 0.65% for SLVR.
SLVR currently has the higher Sharpe Ratio (1.93 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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