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 -68.43%/yr vs 30.39%/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 -22.39% return, which is significantly lower than ICOP's 13.96% return.
JDST
- 1D
- 10.10%
- 1M
- 10.16%
- YTD
- -22.39%
- 6M
- -14.59%
- 1Y
- -78.52%
- 3Y*
- -68.43%
- 5Y*
- -52.81%
- 10Y*
- -62.85%
ICOP
- 1D
- -5.31%
- 1M
- -3.15%
- YTD
- 13.96%
- 6M
- 12.44%
- 1Y
- 82.41%
- 3Y*
- 30.39%
- 5Y*
- —
- 10Y*
- —
JDST vs. ICOP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
JDST Direxion Daily Junior Gold Miners Index Bear 2X Shares | -22.39% | -91.10% | -40.98% | -22.78% |
ICOP iShares Copper and Metals Mining ETF | 13.96% | 78.01% | 1.10% | 8.08% |
Correlation
The correlation between JDST and ICOP is -0.72, 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 | -0.72 |
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 -0.72 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 | -2.85 | ||
| Sortino ratioReturn per unit of downside risk | -3.92 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.33 | -0.49 |
| Calmar ratioReturn relative to maximum drawdown | -0.88 | 3.17 | -4.06 |
| Martin ratioReturn relative to average drawdown | -1.16 | 11.16 | -12.31 |
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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% | -13.41% | -86.59% |
Average DrawdownAverage peak-to-trough decline | -95.31% | -11.61% | -83.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 67.97% | 7.41% | +60.56% |
Volatility
JDST vs. ICOP - Volatility Comparison
Direxion Daily Junior Gold Miners Index Bear 2X Shares (JDST) has a higher volatility of 39.08% compared to iShares Copper and Metals Mining ETF (ICOP) at 16.27%. 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 | 39.08% | 16.27% | +22.81% |
Volatility (6M)Calculated over the trailing 6-month period | 85.69% | 35.00% | +50.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 103.81% | 39.67% | +64.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 82.06% | 34.44% | +47.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 104.94% | 34.44% | +70.50% |
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 10.36%, more than ICOP's 1.78% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
ICOP iShares Copper and Metals Mining ETF | 1.78% | 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 | 10.36% | 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 -0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JDST has higher volatility (39.08%) compared to ICOP (16.27%). In terms of maximum drawdown, JDST dropped -100.00% vs ICOP's -38.67%.
On 3-year performance, ICOP leads with 30.39% vs -68.43% for JDST. On fees, ICOP is cheaper at 0.47% per year. On volatility, ICOP has been the lower-risk option at 16.27%. 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 30.39% return vs -68.43%. 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 10.36%, compared with 1.78% 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 (2.09 vs -0.76), 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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