FNGD vs. JDST
FNGD (MicroSectors FANG+™ Index -3X Inverse Leveraged ETN) and JDST (Direxion Daily Junior Gold Miners Index Bear 2X Shares) are both Leveraged Equities funds - FNGD tracks the NYSE FANG+ Index (-300%) while JDST tracks the MVIS Global Junior Gold Miners Index (-300%). Both are passively managed. Over the past 5 years, FNGD returned -66.27%/yr vs -52.94%/yr for JDST. At a 0.20 correlation, their price movements are largely independent. FNGD charges 0.95%/yr vs 1.10%/yr for JDST.
Performance
FNGD vs. JDST - Performance Comparison
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Returns By Period
In the year-to-date period, FNGD achieves a -43.70% return, which is significantly lower than JDST's -35.89% return.
FNGD
- 1D
- 1.51%
- 1M
- -31.76%
- YTD
- -43.70%
- 6M
- -34.07%
- 1Y
- -62.82%
- 3Y*
- -69.63%
- 5Y*
- -66.27%
- 10Y*
- —
JDST
- 1D
- -1.51%
- 1M
- -7.51%
- YTD
- -35.89%
- 6M
- -46.82%
- 1Y
- -81.68%
- 3Y*
- -69.10%
- 5Y*
- -52.94%
- 10Y*
- -64.82%
FNGD vs. JDST - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FNGD MicroSectors FANG+™ Index -3X Inverse Leveraged ETN | -43.70% | -61.42% | -76.57% | -90.14% | 52.21% | -60.04% | -95.60% | -72.46% | -13.73% |
JDST Direxion Daily Junior Gold Miners Index Bear 2X Shares | -35.89% | -91.10% | -40.98% | -28.29% | -26.25% | 10.97% | -95.97% | -80.30% | 8.86% |
Correlation
The correlation between FNGD and JDST is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.23 |
Correlation (All Time) Calculated using the full available price history since Jan 24, 2018 | 0.20 |
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Return for Risk
FNGD vs. JDST — Risk / Return Rank
FNGD
JDST
FNGD vs. JDST - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) and Direxion Daily Junior Gold Miners Index Bear 2X Shares (JDST). 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.
| FNGD | JDST | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -1.07 | -0.83 | -0.24 |
Sortino ratioReturn per unit of downside risk | -1.88 | -1.79 | -0.09 |
Omega ratioGain probability vs. loss probability | 0.79 | 0.81 | -0.01 |
Calmar ratioReturn relative to maximum drawdown | -0.97 | -0.94 | -0.03 |
Martin ratioReturn relative to average drawdown | -1.91 | -1.29 | -0.63 |
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
| FNGD | JDST | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.07 | -0.83 | -0.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.75 | -0.66 | -0.09 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.62 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.78 | -0.59 | -0.19 |
Drawdowns
FNGD vs. JDST - Drawdown Comparison
The maximum FNGD drawdown since its inception was -100.00%, roughly equal to the maximum JDST drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for FNGD and JDST.
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Drawdown Indicators
| FNGD | JDST | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -100.00% | 0.00% |
Max Drawdown (1Y)Largest decline over 1 year | -65.92% | -88.98% | +23.06% |
Max Drawdown (3Y)Largest decline over 3 years | -97.37% | -98.58% | +1.21% |
Max Drawdown (5Y)Largest decline over 5 years | -99.67% | -99.28% | -0.39% |
Max Drawdown (10Y)Largest decline over 10 years | — | -100.00% | — |
Current DrawdownCurrent decline from peak | -100.00% | -100.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -87.24% | -95.32% | +8.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.47% | 65.20% | -31.73% |
Volatility
FNGD vs. JDST - Volatility Comparison
The current volatility for MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) is 16.71%, while Direxion Daily Junior Gold Miners Index Bear 2X Shares (JDST) has a volatility of 32.18%. This indicates that FNGD experiences smaller price fluctuations and is considered to be less risky than JDST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FNGD | JDST | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.71% | 32.18% | -15.47% |
Volatility (6M)Calculated over the trailing 6-month period | 45.80% | 79.24% | -33.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 58.66% | 98.90% | -40.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 88.79% | 80.87% | +7.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 91.02% | 104.74% | -13.72% |
FNGD vs. JDST - Expense Ratio Comparison
FNGD has a 0.95% expense ratio, which is lower than JDST's 1.10% expense ratio.
Dividends
FNGD vs. JDST - Dividend Comparison
FNGD has not paid dividends to shareholders, while JDST's dividend yield for the trailing twelve months is around 12.55%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
FNGD MicroSectors FANG+™ Index -3X Inverse Leveraged ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
JDST Direxion Daily Junior Gold Miners Index Bear 2X Shares | 12.55% | 15.08% | 6.50% | 4.81% | 0.00% | 0.00% | 11.75% | 3.16% | 0.57% |
Frequently Asked Questions
FNGD and JDST have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JDST has higher volatility (32.18%) compared to FNGD (16.71%). In terms of maximum drawdown, FNGD dropped -100.00% vs JDST's -100.00%.
On 5-year performance, JDST leads with -52.94% vs -66.27% for FNGD. On fees, FNGD is cheaper at 0.95% per year. On volatility, FNGD has been the lower-risk option at 16.71%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, JDST has performed better with a -52.94% return vs -66.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FNGD is cheaper with a 0.95% expense ratio, compared with 1.10% for JDST.
JDST has the higher dividend yield at 12.55%, compared with 0.00% for FNGD.
FNGD tracks NYSE FANG+ Index (-300%), while JDST tracks MVIS Global Junior Gold Miners Index (-300%). They also come from different issuers: BMO and Direxion. Their fees differ too: 0.95% for FNGD and 1.10% for JDST.
JDST currently has the higher Sharpe Ratio (-0.83 vs -1.07), 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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