JDST vs. NUGT
JDST (Direxion Daily Junior Gold Miners Index Bear 2X Shares) and NUGT (Direxion Daily Gold Miners Index Bull 2X ETF) are both exchange-traded funds - JDST is a Leveraged Equities fund tracking the MVIS Global Junior Gold Miners Index (-300%), while NUGT is a Gold fund tracking the MarketVector Global Gold Miners Index (200%). Both are passively managed. Over the past 10 years, JDST returned -62.85%/yr vs -11.63%/yr for NUGT. At a correlation of -0.96, they often move in opposite directions. JDST charges 1.10%/yr vs 1.13%/yr for NUGT.
Performance
JDST vs. NUGT - Performance Comparison
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Returns By Period
In the year-to-date period, JDST achieves a -22.39% return, which is significantly higher than NUGT's -32.09% return. Over the past 10 years, JDST has underperformed NUGT with an annualized return of -62.85%, while NUGT has yielded a comparatively higher -11.63% annualized 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%
NUGT
- 1D
- -9.53%
- 1M
- -19.60%
- YTD
- -32.09%
- 6M
- -39.03%
- 1Y
- 60.88%
- 3Y*
- 55.65%
- 5Y*
- 17.04%
- 10Y*
- -11.63%
JDST vs. NUGT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
JDST Direxion Daily Junior Gold Miners Index Bear 2X Shares | -22.39% | -91.10% | -40.98% | -28.29% | -26.25% | 10.97% | -95.97% | -80.30% | -1.60% | -63.44% |
NUGT Direxion Daily Gold Miners Index Bull 2X ETF | -32.09% | 425.05% | 2.89% | 2.60% | -32.10% | -26.31% | -60.16% | 100.73% | -44.52% | 3.73% |
Correlation
The correlation between JDST and NUGT is -0.98, 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 | -0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.98 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.96 |
Correlation (All Time) Calculated using the full available price history since Oct 3, 2013 | -0.96 |
The correlation between JDST and NUGT has been stable across timeframes, ranging from -0.98 to -0.96 - a consistent structural relationship.
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Return for Risk
JDST vs. NUGT — Risk / Return Rank
JDST
NUGT
JDST vs. NUGT - 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 Direxion Daily Gold Miners Index Bull 2X ETF (NUGT). 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 | NUGT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.41 | ||
| Sortino ratioReturn per unit of downside risk | -2.77 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.18 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | -0.88 | 0.96 | -1.85 |
| Martin ratioReturn relative to average drawdown | -1.16 | 2.30 | -3.46 |
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Drawdowns
JDST vs. NUGT - Drawdown Comparison
The maximum JDST drawdown since its inception was -100.00%, roughly equal to the maximum NUGT drawdown of -99.97%. Use the drawdown chart below to compare losses from any high point for JDST and NUGT.
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Drawdown Indicators
| JDST | NUGT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -99.97% | -0.03% |
Max Drawdown (1Y)Largest decline over 1 year | -88.98% | -63.43% | -25.55% |
Max Drawdown (3Y)Largest decline over 3 years | -98.58% | -63.43% | -35.15% |
Max Drawdown (5Y)Largest decline over 5 years | -99.28% | -73.72% | -25.56% |
Max Drawdown (10Y)Largest decline over 10 years | -100.00% | -96.91% | -3.09% |
Current DrawdownCurrent decline from peak | -100.00% | -99.84% | -0.16% |
Average DrawdownAverage peak-to-trough decline | -95.31% | -91.53% | -3.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 67.97% | 26.52% | +41.45% |
Volatility
JDST vs. NUGT - Volatility Comparison
Direxion Daily Junior Gold Miners Index Bear 2X Shares (JDST) has a higher volatility of 39.08% compared to Direxion Daily Gold Miners Index Bull 2X ETF (NUGT) at 35.11%. This indicates that JDST's price experiences larger fluctuations and is considered to be riskier than NUGT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JDST | NUGT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 39.08% | 35.11% | +3.97% |
Volatility (6M)Calculated over the trailing 6-month period | 85.69% | 80.35% | +5.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 103.81% | 94.31% | +9.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 82.06% | 72.94% | +9.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 104.94% | 87.97% | +16.97% |
JDST vs. NUGT - Expense Ratio Comparison
JDST has a 1.10% expense ratio, which is lower than NUGT's 1.13% expense ratio.
Dividends
JDST vs. NUGT - Dividend Comparison
JDST's dividend yield for the trailing twelve months is around 10.36%, more than NUGT's 0.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
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% |
NUGT Direxion Daily Gold Miners Index Bull 2X ETF | 0.44% | 0.22% | 1.79% | 1.67% | 0.70% | 0.00% | 0.00% | 0.63% | 0.57% |
Frequently Asked Questions
JDST and NUGT have a correlation of -0.98, 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 NUGT (35.11%). In terms of maximum drawdown, JDST dropped -100.00% vs NUGT's -99.97%.
On 10-year performance, NUGT leads with -11.63% vs -62.85% for JDST. On fees, JDST is cheaper at 1.10% per year. On volatility, NUGT has been the lower-risk option at 35.11%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, NUGT has performed better with a -11.63% return vs -62.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JDST is cheaper with a 1.10% expense ratio, compared with 1.13% for NUGT.
JDST has the higher dividend yield at 10.36%, compared with 0.44% for NUGT.
JDST is categorized as Leveraged Equities, while NUGT is Gold. JDST tracks MVIS Global Junior Gold Miners Index (-300%), while NUGT tracks MarketVector Global Gold Miners Index (200%). Their fees differ too: 1.10% for JDST and 1.13% for NUGT.
NUGT currently has the higher Sharpe Ratio (0.65 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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