JDST vs. COPX
JDST (Direxion Daily Junior Gold Miners Index Bear 2X Shares) and COPX (Global X Copper Miners ETF) are both exchange-traded funds - JDST is a Leveraged Equities fund tracking the MVIS Global Junior Gold Miners Index (-300%), while COPX is a Copper fund tracking the Solactive Global Copper Miners Total Return Index. Both are passively managed. Over the past 10 years, JDST returned -60.31%/yr vs 18.12%/yr for COPX. At a correlation of -0.44, they often move in opposite directions. JDST charges 1.10%/yr vs 0.65%/yr for COPX.
Performance
JDST vs. COPX - Performance Comparison
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Returns By Period
In the year-to-date period, JDST achieves a -15.75% return, which is significantly lower than COPX's 3.92% return. Over the past 10 years, JDST has underperformed COPX with an annualized return of -60.31%, while COPX has yielded a comparatively higher 18.12% annualized return.
JDST
- 1D
- 7.16%
- 1M
- 12.73%
- 6M
- 5.01%
- YTD
- -15.75%
- 1Y
- -75.99%
- 3Y*
- -65.43%
- 5Y*
- -52.35%
- 10Y*
- -60.31%
COPX
- 1D
- -2.86%
- 1M
- -13.22%
- 6M
- -6.83%
- YTD
- 3.92%
- 1Y
- 69.07%
- 3Y*
- 25.55%
- 5Y*
- 18.00%
- 10Y*
- 18.12%
JDST vs. COPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
JDST Direxion Daily Junior Gold Miners Index Bear 2X Shares | -15.75% | -91.10% | -40.98% | -28.29% | -26.25% | 10.97% | -95.97% | -80.30% | -1.60% | -63.44% |
COPX Global X Copper Miners ETF | 3.92% | 93.50% | 3.57% | 8.38% | -0.76% | 23.39% | 51.66% | 12.48% | -31.31% | 38.92% |
Correlation
The correlation between JDST and COPX is -0.73, 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 | -0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.66 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.64 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.47 |
Correlation (All Time) Calculated using the full available price history since Oct 3, 2013 | -0.44 |
Over the past year, the inverse relationship between JDST and COPX has strengthened: their correlation has moved from -0.44 to -0.73, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
JDST vs. COPX — Risk / Return Rank
JDST
COPX
JDST vs. COPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Junior Gold Miners Index Bear 2X Shares (JDST) and Global X Copper Miners ETF (COPX). 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.
| JDST | COPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.27 | ||
| Sortino ratioReturn per unit of downside risk | -3.22 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 1.26 | -0.39 |
| Calmar ratioReturn relative to maximum drawdown | -0.86 | 2.50 | -3.35 |
| Martin ratioReturn relative to average drawdown | -1.08 | 6.78 | -7.86 |
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Drawdowns
JDST vs. COPX - Drawdown Comparison
The maximum JDST drawdown since its inception was -100.00%, which is greater than COPX's maximum drawdown of -83.16%. Use the drawdown chart below to compare losses from any high point for JDST and COPX.
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Drawdown Indicators
| JDST | COPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -83.16% | -16.84% |
Max Drawdown (1Y)Largest decline over 1 year | -88.98% | -27.82% | -61.16% |
Max Drawdown (3Y)Largest decline over 3 years | -98.58% | -39.72% | -58.86% |
Max Drawdown (5Y)Largest decline over 5 years | -99.28% | -42.12% | -57.16% |
Max Drawdown (10Y)Largest decline over 10 years | -100.00% | -65.41% | -34.59% |
Current DrawdownCurrent decline from peak | -100.00% | -22.05% | -77.95% |
Average DrawdownAverage peak-to-trough decline | -95.33% | -39.18% | -56.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 70.33% | 10.22% | +60.11% |
Volatility
JDST vs. COPX - Volatility Comparison
Direxion Daily Junior Gold Miners Index Bear 2X Shares (JDST) has a higher volatility of 34.78% compared to Global X Copper Miners ETF (COPX) at 15.54%. This indicates that JDST's price experiences larger fluctuations and is considered to be riskier than COPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JDST | COPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 34.78% | 15.54% | +19.24% |
Volatility (6M)Calculated over the trailing 6-month period | 86.06% | 39.33% | +46.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 105.38% | 44.93% | +60.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 82.47% | 37.17% | +45.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 104.51% | 35.75% | +68.76% |
JDST vs. COPX - Expense Ratio Comparison
JDST has a 1.10% expense ratio, which is higher than COPX's 0.65% expense ratio.
Dividends
JDST vs. COPX - Dividend Comparison
JDST's dividend yield for the trailing twelve months is around 5.76%, more than COPX's 2.60% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
COPX Global X Copper Miners ETF | 2.60% | 2.68% | 1.80% | 2.39% | 3.14% | 1.48% | 1.30% | 1.37% | 2.59% | 1.57% | 0.60% | 1.20% |
JDST Direxion Daily Junior Gold Miners Index Bear 2X Shares | 5.76% | 15.08% | 6.50% | 4.81% | 0.00% | 0.00% | 11.75% | 3.16% | 0.57% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
JDST and COPX have a correlation of -0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JDST has higher volatility (34.78%) compared to COPX (15.54%). In terms of maximum drawdown, JDST dropped -100.00% vs COPX's -83.16%.
On 10-year performance, COPX leads with 18.12% vs -60.31% for JDST. On fees, COPX is cheaper at 0.65% per year. On volatility, COPX has been the lower-risk option at 15.54%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, COPX has performed better with a 18.12% return vs -60.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
COPX is cheaper with a 0.65% expense ratio, compared with 1.10% for JDST.
JDST has the higher dividend yield at 5.76%, compared with 2.60% for COPX.
JDST is categorized as Leveraged Equities, while COPX is Copper. JDST tracks MVIS Global Junior Gold Miners Index (-300%), while COPX tracks Solactive Global Copper Miners Total Return Index. They also come from different issuers: Direxion and Global X. Their fees differ too: 1.10% for JDST and 0.65% for COPX.
COPX currently has the higher Sharpe Ratio (1.55 vs -0.72), 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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