JDST vs. MXI
JDST (Direxion Daily Junior Gold Miners Index Bear 2X Shares) and MXI (iShares Global Materials ETF) are both exchange-traded funds - JDST is a Leveraged Equities fund tracking the MVIS Global Junior Gold Miners Index (-300%), while MXI is a Materials fund tracking the S&P Global Materials Index. Both are passively managed. Over the past 10 years, JDST returned -59.50%/yr vs 10.43%/yr for MXI. Their -0.42 correlation means they have often moved in opposite directions in the past. JDST charges 1.10%/yr vs 0.46%/yr for MXI.
Performance
JDST vs. MXI - Performance Comparison
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Returns By Period
In the year-to-date period, JDST achieves a -18.61% return, which is significantly lower than MXI's 10.45% return. Over the past 10 years, JDST has underperformed MXI with an annualized return of -59.50%, while MXI has yielded a comparatively higher 10.43% annualized return.
JDST
- 1D
- 7.27%
- 1M
- 10.46%
- 6M
- 5.97%
- YTD
- -18.61%
- 1Y
- -79.18%
- 3Y*
- -66.93%
- 5Y*
- -52.90%
- 10Y*
- -59.50%
- ALL TIME*
- -68.78%
MXI
- 1D
- -2.15%
- 1M
- -1.96%
- 6M
- 1.26%
- YTD
- 10.45%
- 1Y
- 28.15%
- 3Y*
- 10.42%
- 5Y*
- 5.97%
- 10Y*
- 10.43%
- ALL TIME*
- 6.38%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $11.95M | $13.83M | $18.78M | |
| $1.58M | $1.75M | $2.67M |
JDST vs. MXI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
JDST Direxion Daily Junior Gold Miners Index Bear 2X Shares | -18.61% | -91.10% | -40.98% | -28.29% | -26.25% | 10.97% | -95.97% | -80.30% | -1.60% | -63.44% |
MXI iShares Global Materials ETF | 10.45% | 27.43% | -8.25% | 14.37% | -9.09% | 15.06% | 22.31% | 22.19% | -16.06% | 30.33% |
Correlation
The correlation between JDST and MXI is -0.76, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.76 |
Correlation (3Y) Balances recent behavior with more history. | -0.64 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.63 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.45 |
Correlation (All Time) Calculated using the full available price history since Oct 3, 2013 | -0.42 |
Over the past year, the inverse relationship between JDST and MXI has strengthened: their correlation has moved from -0.42 to -0.76, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
JDST vs. MXI — Risk / Return Rank
JDST
MXI
JDST vs. MXI - 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 Global Materials ETF (MXI). 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 | MXI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.07 | ||
| Sortino ratioReturn per unit of downside risk | -3.20 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.23 | -0.38 |
| Calmar ratioReturn relative to maximum drawdown | -0.90 | 1.72 | -2.62 |
| Martin ratioReturn relative to average drawdown | -1.10 | 5.64 | -6.74 |
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Drawdowns
JDST vs. MXI - Drawdown Comparison
The maximum JDST drawdown since its inception was -100.00%, which is greater than MXI's maximum drawdown of -68.44%. Use the drawdown chart below to compare losses from any high point for JDST and MXI.
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Drawdown Indicators
| JDST | MXI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -68.44% | -31.56% |
Max Drawdown (1Y)Largest decline over 1 year | -88.72% | -16.18% | -72.54% |
Max Drawdown (3Y)Largest decline over 3 years | -98.58% | -22.25% | -76.33% |
Max Drawdown (5Y)Largest decline over 5 years | -99.28% | -28.76% | -70.52% |
Max Drawdown (10Y)Largest decline over 10 years | -100.00% | -39.52% | -60.48% |
Current DrawdownCurrent decline from peak | -100.00% | -8.41% | -91.59% |
Average DrawdownAverage peak-to-trough decline | -95.35% | -17.98% | -77.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 72.79% | 4.91% | +67.88% |
Volatility
JDST vs. MXI - Volatility Comparison
Direxion Daily Junior Gold Miners Index Bear 2X Shares (JDST) has a higher volatility of 30.04% compared to iShares Global Materials ETF (MXI) at 6.48%. This indicates that JDST's price experiences larger fluctuations and is considered to be riskier than MXI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JDST | MXI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 30.04% | 6.48% | +23.56% |
Volatility (6M)Calculated over the trailing 6-month period | 86.12% | 18.38% | +67.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 106.73% | 20.95% | +85.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 82.80% | 19.92% | +62.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 103.95% | 20.42% | +83.53% |
JDST vs. MXI - Expense Ratio Comparison
JDST has a 1.10% expense ratio, which is higher than MXI's 0.46% expense ratio.
Dividends
JDST vs. MXI - Dividend Comparison
JDST's dividend yield for the trailing twelve months is around 5.96%, more than MXI's 1.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JDST Direxion Daily Junior Gold Miners Index Bear 2X Shares | 5.96% | 15.08% | 6.50% | 4.81% | 0.00% | 0.00% | 11.75% | 3.16% | 0.57% | 0.00% | 0.00% | 0.00% |
MXI iShares Global Materials ETF | 1.73% | 2.22% | 3.24% | 2.92% | 4.84% | 3.51% | 1.21% | 3.64% | 2.77% | 1.76% | 1.31% | 3.64% |
Frequently Asked Questions
JDST and MXI have a correlation of -0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JDST has higher volatility (30.04%) compared to MXI (6.48%). In terms of maximum drawdown, JDST dropped -100.00% vs MXI's -68.44%.
On 10-year performance, MXI leads with 10.43% vs -59.50% for JDST. On fees, MXI is cheaper at 0.46% per year. On volatility, MXI has been the lower-risk option at 6.48%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, MXI has performed better with a 10.43% return vs -59.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MXI is cheaper with a 0.46% expense ratio, compared with 1.10% for JDST.
JDST has the higher dividend yield at 5.96%, compared with 1.73% for MXI.
JDST is categorized as Leveraged Equities, while MXI is Materials. JDST tracks MVIS Global Junior Gold Miners Index (-300%), while MXI tracks S&P Global Materials Index. They also come from different issuers: Direxion and iShares. Their fees differ too: 1.10% for JDST and 0.46% for MXI.
MXI currently has the higher Sharpe Ratio (1.33 vs -0.75), 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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