FNGD vs. JDST

Last updated Apr 1, 2026

Compare and contrast key facts about MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) and Direxion Daily Junior Gold Miners Index Bear 2X Shares (JDST).

FNGD and JDST are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FNGD is a passively managed fund by BMO that tracks the performance of the NYSE FANG+ Index (-300%). It was launched on Jan 22, 2018. JDST is a passively managed fund by Direxion that tracks the performance of the MVIS Global Junior Gold Miners Index (-300%). It was launched on Apr 1, 2020. Both FNGD and JDST are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

FNGD vs. JDST - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) and Direxion Daily Junior Gold Miners Index Bear 2X Shares (JDST). The values are adjusted to include any dividend payments, if applicable.

FNGD vs. JDST - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FNGD MicroSectors FANG+™ Index -3X Inverse Leveraged ETN	40.23%	-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	-33.05%	-91.10%	-40.98%	-28.29%	-26.25%	10.97%	-95.97%	-80.30%	8.86%

Returns By Period

In the year-to-date period, FNGD achieves a 40.23% return, which is significantly higher than JDST's -33.05% return.

FNGD

• 1D: -13.84%
• 1M: 10.30%
• YTD: 40.23%
• 6M: 44.34%
• 1Y: -59.51%
• 3Y*: -65.85%
• 5Y*: -59.96%
• 10Y*: —

JDST

• 1D: -16.82%
• 1M: 51.78%
• YTD: -33.05%
• 6M: -58.67%
• 1Y: -88.72%
• 3Y*: -67.81%
• 5Y*: -55.35%
• 10Y*: -69.24%

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

FNGD vs. JDST - Expense Ratio Comparison

FNGD has a 0.95% expense ratio, which is lower than JDST's 1.10% expense ratio.

JDST

Direxion Daily Junior Gold Miners Index Bear 2X Shares

FNGD

MicroSectors FANG+™ Index -3X Inverse Leveraged ETN

Return for Risk

FNGD vs. JDST — Risk / Return Rank

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

FNGD

FNGD Risk / Return Rank: 3
FNGD Sharpe Ratio Rank: 2
FNGD Sortino Ratio Rank: 2
FNGD Omega Ratio Rank: 2
FNGD Calmar Ratio Rank: 2
FNGD Martin Ratio Rank: 6

JDST

JDST Risk / Return Rank: 1
JDST Sharpe Ratio Rank: 1
JDST Sortino Ratio Rank: 0
JDST Omega Ratio Rank: 0
JDST Calmar Ratio Rank: 0
JDST Martin Ratio Rank: 3

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.

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 ratio Return per unit of total volatility	-0.76	-0.88	+0.12
Sortino ratio Return per unit of downside risk	-0.93	-2.35	+1.42
Omega ratio Gain probability vs. loss probability	0.87	0.75	+0.12
Calmar ratio Return relative to maximum drawdown	-0.72	-0.94	+0.23
Martin ratio Return relative to average drawdown	-0.82	-1.25	+0.43
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FNGD vs. JDST - Sharpe Ratio Comparison

The current FNGD Sharpe Ratio is -0.76, which is comparable to the JDST Sharpe Ratio of -0.88. The chart below compares the historical Sharpe Ratios of FNGD and JDST, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FNGD	JDST	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.76	-0.88	+0.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.68	-0.70	+0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.65	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.75	-0.60	-0.15

Correlation

The correlation between FNGD and JDST is 0.19, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

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 12.01%.

	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	12.01%	15.08%	6.50%	4.81%	0.00%	0.00%	11.75%	3.16%	0.57%

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.

Drawdown Indicators

	FNGD	JDST	Difference
Max Drawdown Largest peak-to-trough decline	-100.00%	-100.00%	0.00%
Max Drawdown (1Y) Largest decline over 1 year	-82.53%	-94.07%	+11.54%
Max Drawdown (5Y) Largest decline over 5 years	-99.53%	-99.28%	-0.25%
Max Drawdown (10Y) Largest decline over 10 years	—	-100.00%	—
Current Drawdown Current decline from peak	-99.99%	-100.00%	+0.01%
Average Drawdown Average peak-to-trough decline	-86.98%	-95.26%	+8.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	71.84%	71.20%	+0.64%

Volatility

FNGD vs. JDST - Volatility Comparison

The current volatility for MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) is 24.51%, while Direxion Daily Junior Gold Miners Index Bear 2X Shares (JDST) has a volatility of 40.16%. 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.

Volatility by Period

	FNGD	JDST	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.51%	40.16%	-15.65%
Volatility (6M) Calculated over the trailing 6-month period	45.21%	81.41%	-36.20%
Volatility (1Y) Calculated over the trailing 1-year period	78.65%	100.63%	-21.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	88.85%	79.81%	+9.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	91.51%	107.19%	-15.68%