JDST vs. ICOP
JDST (Direxion Daily Junior Gold Miners Index Bear 2X Shares) and ICOP (iShares Copper and Metals Mining ETF) are both exchange-traded funds - JDST is a Leveraged Equities fund tracking the MVIS Global Junior Gold Miners Index (-300%), while ICOP is a Copper fund tracking the STOXX Global Copper and Metals Mining Index. Both are passively managed. Over the past 3 years, JDST returned -65.43%/yr vs 24.91%/yr for ICOP. At a correlation of -0.67, they often move in opposite directions. JDST charges 1.10%/yr vs 0.47%/yr for ICOP.
Performance
JDST vs. ICOP - 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 ICOP's 7.87% 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%
ICOP
- 1D
- -2.44%
- 1M
- -11.83%
- 6M
- -2.13%
- YTD
- 7.87%
- 1Y
- 60.49%
- 3Y*
- 24.91%
- 5Y*
- —
- 10Y*
- —
JDST vs. ICOP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
JDST Direxion Daily Junior Gold Miners Index Bear 2X Shares | -15.75% | -91.10% | -40.98% | -22.78% |
ICOP iShares Copper and Metals Mining ETF | 7.87% | 78.01% | 1.10% | 8.08% |
Correlation
The correlation between JDST and ICOP is -0.75, 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 | -0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.67 |
Correlation (All Time) Calculated using the full available price history since Jun 23, 2023 | -0.67 |
The correlation between JDST and ICOP has been stable across timeframes, ranging from -0.75 to -0.67 - a consistent structural relationship.
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Return for Risk
JDST vs. ICOP — Risk / Return Rank
JDST
ICOP
JDST vs. ICOP - 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 iShares Copper and Metals Mining ETF (ICOP). 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 | ICOP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.25 | ||
| Sortino ratioReturn per unit of downside risk | -3.20 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 1.26 | -0.39 |
| Calmar ratioReturn relative to maximum drawdown | -0.86 | 2.33 | -3.18 |
| Martin ratioReturn relative to average drawdown | -1.08 | 7.33 | -8.42 |
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Drawdowns
JDST vs. ICOP - Drawdown Comparison
The maximum JDST drawdown since its inception was -100.00%, which is greater than ICOP's maximum drawdown of -38.67%. Use the drawdown chart below to compare losses from any high point for JDST and ICOP.
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Drawdown Indicators
| JDST | ICOP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -38.67% | -61.33% |
Max Drawdown (1Y)Largest decline over 1 year | -88.98% | -26.13% | -62.85% |
Max Drawdown (3Y)Largest decline over 3 years | -98.58% | -38.67% | -59.91% |
Max Drawdown (5Y)Largest decline over 5 years | -99.28% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -100.00% | — | — |
Current DrawdownCurrent decline from peak | -100.00% | -18.04% | -81.96% |
Average DrawdownAverage peak-to-trough decline | -95.33% | -11.69% | -83.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 70.33% | 8.27% | +62.06% |
Volatility
JDST vs. ICOP - Volatility Comparison
Direxion Daily Junior Gold Miners Index Bear 2X Shares (JDST) has a higher volatility of 34.78% compared to iShares Copper and Metals Mining ETF (ICOP) at 13.59%. This indicates that JDST's price experiences larger fluctuations and is considered to be riskier than ICOP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JDST | ICOP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 34.78% | 13.59% | +21.19% |
Volatility (6M)Calculated over the trailing 6-month period | 86.06% | 35.19% | +50.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 105.38% | 40.03% | +65.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 82.47% | 34.50% | +47.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 104.51% | 34.50% | +70.01% |
JDST vs. ICOP - Expense Ratio Comparison
JDST has a 1.10% expense ratio, which is higher than ICOP's 0.47% expense ratio.
Dividends
JDST vs. ICOP - Dividend Comparison
JDST's dividend yield for the trailing twelve months is around 5.76%, more than ICOP's 1.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
ICOP iShares Copper and Metals Mining ETF | 1.88% | 2.08% | 1.87% | 2.15% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
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% |
Frequently Asked Questions
JDST and ICOP have a correlation of -0.75, 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 ICOP (13.59%). In terms of maximum drawdown, JDST dropped -100.00% vs ICOP's -38.67%.
On 3-year performance, ICOP leads with 24.91% vs -65.43% for JDST. On fees, ICOP is cheaper at 0.47% per year. On volatility, ICOP has been the lower-risk option at 13.59%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, ICOP has performed better with a 24.91% return vs -65.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ICOP is cheaper with a 0.47% expense ratio, compared with 1.10% for JDST.
JDST has the higher dividend yield at 5.76%, compared with 1.88% for ICOP.
JDST is categorized as Leveraged Equities, while ICOP is Copper. JDST tracks MVIS Global Junior Gold Miners Index (-300%), while ICOP tracks STOXX Global Copper and Metals Mining Index. They also come from different issuers: Direxion and iShares. Their fees differ too: 1.10% for JDST and 0.47% for ICOP.
ICOP currently has the higher Sharpe Ratio (1.52 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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