JDST vs. GDXD

Last updated Apr 1, 2026

Compare and contrast key facts about Direxion Daily Junior Gold Miners Index Bear 2X Shares (JDST) and MicroSectors Gold Miners -3X Inverse Leveraged ETNs (GDXD).

JDST and GDXD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. GDXD is a passively managed fund by BMO that tracks the performance of the S-Network MicroSectors Gold Miners Index - Benchmark TR Gross (-300%). It was launched on Dec 2, 2020. Both JDST and GDXD 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

JDST vs. GDXD - Performance Comparison

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

JDST vs. GDXD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
JDST Direxion Daily Junior Gold Miners Index Bear 2X Shares	-33.05%	-91.10%	-40.98%	-28.29%	-26.25%	10.97%	-13.56%
GDXD MicroSectors Gold Miners -3X Inverse Leveraged ETNs	-51.34%	-97.53%	-57.78%	-52.35%	-52.56%	-19.71%	-13.30%

Returns By Period

In the year-to-date period, JDST achieves a -33.05% return, which is significantly higher than GDXD's -51.34% return.

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%

GDXD

• 1D: -21.63%
• 1M: 68.00%
• YTD: -51.34%
• 6M: -76.21%
• 1Y: -96.70%
• 3Y*: -84.06%
• 5Y*: -75.49%
• 10Y*: —

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

JDST vs. GDXD - Expense Ratio Comparison

JDST has a 1.10% expense ratio, which is higher than GDXD's 0.95% expense ratio.

JDST

Direxion Daily Junior Gold Miners Index Bear 2X Shares

GDXD

MicroSectors Gold Miners -3X Inverse Leveraged ETNs

Return for Risk

JDST vs. GDXD — Risk / Return Rank

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

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

GDXD

GDXD Risk / Return Rank: 1
GDXD Sharpe Ratio Rank: 2
GDXD Sortino Ratio Rank: 0
GDXD Omega Ratio Rank: 0
GDXD Calmar Ratio Rank: 0
GDXD 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.

JDST vs. GDXD - 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 MicroSectors Gold Miners -3X Inverse Leveraged ETNs (GDXD). 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.

	JDST	GDXD	Difference
Sharpe ratio Return per unit of total volatility	-0.88	-0.70	-0.18
Sortino ratio Return per unit of downside risk	-2.35	-2.54	+0.19
Omega ratio Gain probability vs. loss probability	0.75	0.73	+0.02
Calmar ratio Return relative to maximum drawdown	-0.94	-0.98	+0.04
Martin ratio Return relative to average drawdown	-1.25	-1.20	-0.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JDST vs. GDXD - Sharpe Ratio Comparison

The current JDST Sharpe Ratio is -0.88, which is comparable to the GDXD Sharpe Ratio of -0.70. The chart below compares the historical Sharpe Ratios of JDST and GDXD, 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

	JDST	GDXD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.88	-0.70	-0.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.70	-0.70	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.65	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.60	-0.68	+0.09

Correlation

The correlation between JDST and GDXD is 0.98, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

JDST vs. GDXD - Dividend Comparison

JDST's dividend yield for the trailing twelve months is around 12.01%, while GDXD has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018
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%
GDXD MicroSectors Gold Miners -3X Inverse Leveraged ETNs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

JDST vs. GDXD - Drawdown Comparison

The maximum JDST drawdown since its inception was -100.00%, roughly equal to the maximum GDXD drawdown of -99.96%. Use the drawdown chart below to compare losses from any high point for JDST and GDXD.

Drawdown Indicators

	JDST	GDXD	Difference
Max Drawdown Largest peak-to-trough decline	-100.00%	-99.96%	-0.04%
Max Drawdown (1Y) Largest decline over 1 year	-94.07%	-98.51%	+4.44%
Max Drawdown (5Y) Largest decline over 5 years	-99.28%	-99.96%	+0.68%
Max Drawdown (10Y) Largest decline over 10 years	-100.00%	—	—
Current Drawdown Current decline from peak	-100.00%	-99.93%	-0.07%
Average Drawdown Average peak-to-trough decline	-95.26%	-70.92%	-24.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	71.20%	80.64%	-9.44%

Volatility

JDST vs. GDXD - Volatility Comparison

The current volatility for Direxion Daily Junior Gold Miners Index Bear 2X Shares (JDST) is 40.16%, while MicroSectors Gold Miners -3X Inverse Leveraged ETNs (GDXD) has a volatility of 54.68%. This indicates that JDST experiences smaller price fluctuations and is considered to be less risky than GDXD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JDST	GDXD	Difference
Volatility (1M) Calculated over the trailing 1-month period	40.16%	54.68%	-14.52%
Volatility (6M) Calculated over the trailing 6-month period	81.41%	110.83%	-29.42%
Volatility (1Y) Calculated over the trailing 1-year period	100.63%	138.20%	-37.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	79.81%	108.13%	-28.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	107.19%	108.21%	-1.02%