GDXJ vs. DUST
GDXJ (VanEck Junior Gold Miners ETF) and DUST (Direxion Daily Gold Miners Bear 2X Shares) are both exchange-traded funds - GDXJ is a Gold fund tracking the MVIS Global Junior Gold Miners Index, while DUST is a Leveraged Equities fund tracking the NYSE Arca Gold Miners Index (-300%). Both are passively managed. Over the past 10 years, GDXJ returned 13.07%/yr vs -53.65%/yr for DUST. At a correlation of -0.95, they often move in opposite directions. GDXJ charges 0.52%/yr vs 1.07%/yr for DUST.
Performance
GDXJ vs. DUST - Performance Comparison
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Returns By Period
In the year-to-date period, GDXJ achieves a -2.55% return, which is significantly higher than DUST's -26.71% return. Over the past 10 years, GDXJ has outperformed DUST with an annualized return of 13.07%, while DUST has yielded a comparatively lower -53.65% annualized return.
GDXJ
- 1D
- -4.40%
- 1M
- -1.95%
- YTD
- -2.55%
- 6M
- 6.26%
- 1Y
- 65.12%
- 3Y*
- 46.12%
- 5Y*
- 17.46%
- 10Y*
- 13.07%
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%
GDXJ vs. DUST - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GDXJ VanEck Junior Gold Miners ETF | -2.55% | 172.28% | 15.67% | 7.12% | -14.53% | -21.25% | 30.40% | 40.44% | -11.02% | 8.22% |
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% |
Correlation
The correlation between GDXJ and DUST is -0.98, 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 | -0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.98 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.96 |
Correlation (All Time) Calculated using the full available price history since Dec 9, 2010 | -0.95 |
The correlation between GDXJ and DUST has been stable across timeframes, ranging from -0.98 to -0.95 - a consistent structural relationship.
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Return for Risk
GDXJ vs. DUST — Risk / Return Rank
GDXJ
DUST
GDXJ vs. DUST - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Junior Gold Miners ETF (GDXJ) and Direxion Daily Gold Miners Bear 2X Shares (DUST). 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.
| GDXJ | DUST | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.17 | ||
| Sortino ratioReturn per unit of downside risk | +3.47 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 0.82 | +0.42 |
| Calmar ratioReturn relative to maximum drawdown | 1.99 | -0.89 | +2.88 |
| Martin ratioReturn relative to average drawdown | 4.95 | -1.22 | +6.17 |
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
| GDXJ | DUST | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.32 | -0.85 | +2.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.43 | -0.66 | +1.08 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.30 | -0.62 | +0.91 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.06 | -0.50 | +0.56 |
Drawdowns
GDXJ vs. DUST - Drawdown Comparison
The maximum GDXJ drawdown since its inception was -88.66%, smaller than the maximum DUST drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for GDXJ and DUST.
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Drawdown Indicators
| GDXJ | DUST | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.66% | -100.00% | +11.34% |
Max Drawdown (1Y)Largest decline over 1 year | -32.92% | -86.15% | +53.23% |
Max Drawdown (3Y)Largest decline over 3 years | -32.92% | -97.55% | +64.63% |
Max Drawdown (5Y)Largest decline over 5 years | -50.99% | -98.68% | +47.69% |
Max Drawdown (10Y)Largest decline over 10 years | -57.77% | -99.98% | +42.21% |
Current DrawdownCurrent decline from peak | -29.01% | -100.00% | +70.99% |
Average DrawdownAverage peak-to-trough decline | -60.50% | -83.35% | +22.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.19% | 62.85% | -49.66% |
Volatility
GDXJ vs. DUST - Volatility Comparison
The current volatility for VanEck Junior Gold Miners ETF (GDXJ) is 16.66%, while Direxion Daily Gold Miners Bear 2X Shares (DUST) has a volatility of 30.34%. This indicates that GDXJ experiences smaller price fluctuations and is considered to be less risky than DUST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GDXJ | DUST | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.66% | 30.34% | -13.68% |
Volatility (6M)Calculated over the trailing 6-month period | 41.34% | 72.12% | -30.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 49.79% | 90.34% | -40.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 41.10% | 72.13% | -31.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 44.06% | 87.19% | -43.13% |
GDXJ vs. DUST - Expense Ratio Comparison
GDXJ has a 0.52% expense ratio, which is lower than DUST's 1.07% expense ratio.
Dividends
GDXJ vs. DUST - Dividend Comparison
GDXJ's dividend yield for the trailing twelve months is around 2.39%, less than DUST's 8.90% 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% |
GDXJ VanEck Junior Gold Miners ETF | 2.39% | 2.33% | 2.61% | 0.72% | 0.51% | 1.78% | 1.58% | 0.39% | 0.45% | 0.03% | 4.78% | 0.72% |
Frequently Asked Questions
GDXJ and DUST have a correlation of -0.98, 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 GDXJ (16.66%). In terms of maximum drawdown, GDXJ dropped -88.66% vs DUST's -100.00%.
On 10-year performance, GDXJ leads with 13.07% vs -53.65% for DUST. On fees, GDXJ is cheaper at 0.52% per year. On volatility, GDXJ has been the lower-risk option at 16.66%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, GDXJ has performed better with a 13.07% return vs -53.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GDXJ is cheaper with a 0.52% expense ratio, compared with 1.07% for DUST.
DUST has the higher dividend yield at 8.90%, compared with 2.39% for GDXJ.
GDXJ is categorized as Gold, while DUST is Leveraged Equities. GDXJ tracks MVIS Global Junior Gold Miners Index, while DUST tracks NYSE Arca Gold Miners Index (-300%). They also come from different issuers: VanEck and Direxion. Their fees differ too: 0.52% for GDXJ and 1.07% for DUST.
GDXJ currently has the higher Sharpe Ratio (1.31 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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