EURL vs. JNUG

Last updated Jul 22, 2026

EURL (Direxion Daily FTSE Europe Bull 3x Shares) and JNUG (Direxion Daily Junior Gold Miners Index Bull 2X ETF) are both exchange-traded funds - EURL is a Leveraged Equities fund tracking the FTSE Developed Europe Index (300%), while JNUG is a Gold fund tracking the MVIS Global Junior Gold Miners Index (200%). Both are passively managed. Over the past 10 years, EURL returned 10.87%/yr vs -30.17%/yr for JNUG. At a 0.28 correlation, their price movements are largely independent. EURL charges 1.07%/yr vs 1.03%/yr for JNUG.

Performance

EURL vs. JNUG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily FTSE Europe Bull 3x Shares (EURL) and Direxion Daily Junior Gold Miners Index Bull 2X ETF (JNUG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EURL achieves a 13.43% return, which is significantly higher than JNUG's -43.35% return. Over the past 10 years, EURL has outperformed JNUG with an annualized return of 10.87%, while JNUG has yielded a comparatively lower -30.17% annualized return.

EURL

• 1D: 3.50%
• 1M: 0.26%
• 6M: 8.58%
• YTD: 13.43%
• 1Y: 38.54%
• 3Y*: 27.58%
• 5Y*: 7.62%
• 10Y*: 10.87%
• ALL TIME*: 2.52%

JNUG

• 1D: 11.43%
• 1M: -20.63%
• 6M: -59.92%
• YTD: -43.35%
• 1Y: 45.37%
• 3Y*: 49.80%
• 5Y*: 11.47%
• 10Y*: -30.17%
• ALL TIME*: -36.00%

*Multi-year figures are annualized to reflect compound growth (CAGR)

EURL vs. JNUG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EURL Direxion Daily FTSE Europe Bull 3x Shares	13.43%	105.85%	-11.42%	44.19%	-54.41%	46.59%	-23.19%	72.61%	-46.39%	91.32%
JNUG Direxion Daily Junior Gold Miners Index Bull 2X ETF	-43.35%	478.59%	9.96%	-4.79%	-43.60%	-46.61%	-85.51%	82.43%	-48.11%	-20.18%

Correlation

The correlation between EURL and JNUG is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (3Y) Calculated over the trailing 3-year period	0.45
Correlation (5Y) Calculated over the trailing 5-year period	0.46
Correlation (10Y) Calculated over the trailing 10-year period	0.33
Correlation (All Time) Calculated using the full available price history since Jan 22, 2014	0.28

Over the past year, EURL and JNUG have become more correlated (0.49) than their long-term average of 0.28, meaning their price movements have been converging.

EURL vs. JNUG - Sectors Allocation Comparison

Sectors	EURL	JNUG
Financial Services	23.5%	-
Industrials	20.3%	-
Healthcare	12.4%	-
Technology	9.4%	-
Consumer Defensive	7.7%	-
Consumer Cyclical	7.1%	-
Basic Materials	5.6%	100.0%
Energy	5.0%	-
Utilities	4.4%	-
Communication Services	3.1%	-
Real Estate	1.6%	-

Return for Risk

EURL vs. JNUG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EURL

EURL Risk / Return Rank: 32
EURL Sharpe Ratio Rank: 30
EURL Sortino Ratio Rank: 33
EURL Omega Ratio Rank: 31
EURL Calmar Ratio Rank: 32
EURL Martin Ratio Rank: 33

JNUG

JNUG Risk / Return Rank: 24
JNUG Sharpe Ratio Rank: 19
JNUG Sortino Ratio Rank: 30
JNUG Omega Ratio Rank: 31
JNUG Calmar Ratio Rank: 20
JNUG Martin Ratio Rank: 19

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EURL vs. JNUG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily FTSE Europe Bull 3x Shares (EURL) and Direxion Daily Junior Gold Miners Index Bull 2X ETF (JNUG). 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.

	EURL	JNUG	Difference
Sharpe ratio: Return per unit of total volatility	0.81	0.43	+0.38
Sortino ratio: Return per unit of downside risk	1.38	1.24	+0.14
Omega ratio: Gain probability vs. loss probability	1.16	1.16	0.00
Calmar ratio: Return relative to maximum drawdown	1.17	0.65	+0.53
Martin ratio: Return relative to average drawdown	3.55	1.34	+2.21

EURL vs. JNUG - Sharpe Ratio Comparison

The current EURL Sharpe Ratio is 0.81, which is higher than the JNUG Sharpe Ratio of 0.43. The chart below compares the historical Sharpe Ratios of EURL and JNUG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EURL vs. JNUG - Drawdown Comparison

The maximum EURL drawdown since its inception was -84.65%, smaller than the maximum JNUG drawdown of -99.95%. Use the drawdown chart below to compare losses from any high point for EURL and JNUG.

Drawdown Indicators

	EURL	JNUG	Difference
Max Drawdown Largest peak-to-trough decline	-84.65%	-99.95%	+15.30%
Max Drawdown (1Y) Largest decline over 1 year	-33.05%	-70.58%	+37.53%
Max Drawdown (3Y) Largest decline over 3 years	-38.81%	-70.58%	+31.77%
Max Drawdown (5Y) Largest decline over 5 years	-75.24%	-76.67%	+1.43%
Max Drawdown (10Y) Largest decline over 10 years	-84.65%	-99.66%	+15.01%
Current Drawdown Current decline from peak	-9.00%	-99.69%	+90.69%
Average Drawdown Average peak-to-trough decline	-36.70%	-93.92%	+57.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.89%	34.03%	-23.14%

Volatility

EURL vs. JNUG - Volatility Comparison

The current volatility for Direxion Daily FTSE Europe Bull 3x Shares (EURL) is 11.85%, while Direxion Daily Junior Gold Miners Index Bull 2X ETF (JNUG) has a volatility of 29.35%. This indicates that EURL experiences smaller price fluctuations and is considered to be less risky than JNUG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EURL	JNUG	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.85%	29.35%	-17.50%
Volatility (6M) Calculated over the trailing 6-month period	41.44%	91.33%	-49.89%
Volatility (1Y) Calculated over the trailing 1-year period	47.96%	106.74%	-58.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	53.42%	82.18%	-28.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	54.44%	106.01%	-51.57%

EURL vs. JNUG - Expense Ratio Comparison

EURL has a 1.07% expense ratio, which is higher than JNUG's 1.03% expense ratio.

Dividends

EURL vs. JNUG - Dividend Comparison

EURL's dividend yield for the trailing twelve months is around 1.59%, less than JNUG's 2.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
EURL Direxion Daily FTSE Europe Bull 3x Shares	1.59%	1.50%	3.51%	2.50%	1.80%	0.33%	0.41%	1.17%	3.07%	0.38%
JNUG Direxion Daily Junior Gold Miners Index Bull 2X ETF	2.52%	1.04%	2.01%	1.62%	0.00%	0.52%	0.10%	0.46%	0.06%	0.51%

Frequently Asked Questions

Can I hold both EURL and JNUG in my portfolio?

EURL and JNUG have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EURL or JNUG?

JNUG has higher volatility (29.35%) compared to EURL (11.85%). In terms of maximum drawdown, EURL dropped -84.65% vs JNUG's -99.95%.

Which ETF is better, EURL or JNUG?

On 10-year performance, EURL leads with 10.87% vs -30.17% for JNUG. On fees, JNUG is cheaper at 1.03% per year. On volatility, EURL has been the lower-risk option at 11.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EURL or JNUG?

Over the 10-year period, EURL has performed better with a 10.87% return vs -30.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EURL or JNUG?

JNUG is cheaper with a 1.03% expense ratio, compared with 1.07% for EURL.

Which ETF pays a higher dividend yield, EURL or JNUG?

JNUG has the higher dividend yield at 2.52%, compared with 1.59% for EURL.

What is the main difference between EURL and JNUG?

EURL is categorized as Leveraged Equities, while JNUG is Gold. EURL tracks FTSE Developed Europe Index (300%), while JNUG tracks MVIS Global Junior Gold Miners Index (200%). Their fees differ too: 1.07% for EURL and 1.03% for JNUG.

Which has better risk-adjusted returns?

EURL currently has the higher Sharpe Ratio (0.81 vs 0.43), 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.