JDST vs. SGOL
JDST (Direxion Daily Junior Gold Miners Index Bear 2X Shares) and SGOL (abrdn Physical Gold Shares ETF) are both exchange-traded funds - JDST is a Leveraged Equities fund tracking the MVIS Global Junior Gold Miners Index (-300%), while SGOL is a Gold fund tracking the LBMA Gold Price PM ($/ozt). Both are passively managed. Over the past 10 years, JDST returned -59.50%/yr vs 11.24%/yr for SGOL. Their -0.74 correlation means they have often moved in opposite directions in the past. JDST charges 1.10%/yr vs 0.17%/yr for SGOL.
Performance
JDST vs. SGOL - 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 SGOL's -6.11% return. Over the past 10 years, JDST has underperformed SGOL with an annualized return of -59.50%, while SGOL has yielded a comparatively higher 11.24% 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%
SGOL
- 1D
- -1.46%
- 1M
- -1.71%
- 6M
- -16.61%
- YTD
- -6.11%
- 1Y
- 20.46%
- 3Y*
- 27.52%
- 5Y*
- 17.23%
- 10Y*
- 11.24%
- ALL TIME*
- 8.33%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $11.95M | $13.83M | $18.78M | |
| $88.85M | $78.77M | $101.28M |
JDST vs. SGOL - 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% |
SGOL abrdn Physical Gold Shares ETF | -6.11% | 63.99% | 26.90% | 12.99% | -0.51% | -3.94% | 25.03% | 18.21% | -1.94% | 12.86% |
Correlation
The correlation between JDST and SGOL is -0.81, 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. | -0.81 |
Correlation (3Y) Balances recent behavior with more history. | -0.80 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.79 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.75 |
Correlation (All Time) Calculated using the full available price history since Oct 3, 2013 | -0.74 |
The correlation between JDST and SGOL has been stable across timeframes, ranging from -0.81 to -0.74 - a consistent structural relationship.
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Return for Risk
JDST vs. SGOL — Risk / Return Rank
JDST
SGOL
JDST vs. SGOL - 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 abrdn Physical Gold Shares ETF (SGOL). 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 | SGOL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.57 | ||
| Sortino ratioReturn per unit of downside risk | -2.59 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.17 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | -0.90 | 0.87 | -1.77 |
| Martin ratioReturn relative to average drawdown | -1.10 | 1.89 | -2.99 |
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Drawdowns
JDST vs. SGOL - Drawdown Comparison
The maximum JDST drawdown since its inception was -100.00%, which is greater than SGOL's maximum drawdown of -45.51%. Use the drawdown chart below to compare losses from any high point for JDST and SGOL.
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Drawdown Indicators
| JDST | SGOL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -45.51% | -54.49% |
Max Drawdown (1Y)Largest decline over 1 year | -88.72% | -26.32% | -62.40% |
Max Drawdown (3Y)Largest decline over 3 years | -98.58% | -26.32% | -72.26% |
Max Drawdown (5Y)Largest decline over 5 years | -99.28% | -26.32% | -72.96% |
Max Drawdown (10Y)Largest decline over 10 years | -100.00% | -26.32% | -73.68% |
Current DrawdownCurrent decline from peak | -100.00% | -24.98% | -75.02% |
Average DrawdownAverage peak-to-trough decline | -95.35% | -18.46% | -76.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 72.79% | 12.14% | +60.65% |
Volatility
JDST vs. SGOL - Volatility Comparison
Direxion Daily Junior Gold Miners Index Bear 2X Shares (JDST) has a higher volatility of 30.04% compared to abrdn Physical Gold Shares ETF (SGOL) at 6.33%. This indicates that JDST's price experiences larger fluctuations and is considered to be riskier than SGOL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JDST | SGOL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 30.04% | 6.33% | +23.71% |
Volatility (6M)Calculated over the trailing 6-month period | 86.12% | 23.26% | +62.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 106.73% | 27.84% | +78.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 82.80% | 18.37% | +64.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 103.95% | 16.09% | +87.86% |
JDST vs. SGOL - Expense Ratio Comparison
JDST has a 1.10% expense ratio, which is higher than SGOL's 0.17% expense ratio.
Dividends
JDST vs. SGOL - Dividend Comparison
JDST's dividend yield for the trailing twelve months is around 5.96%, while SGOL has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
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% |
SGOL abrdn Physical Gold Shares ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
JDST and SGOL have a correlation of -0.81, 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 SGOL (6.33%). In terms of maximum drawdown, JDST dropped -100.00% vs SGOL's -45.51%.
On 10-year performance, SGOL leads with 11.24% vs -59.50% for JDST. On fees, SGOL is cheaper at 0.17% per year. On volatility, SGOL has been the lower-risk option at 6.33%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SGOL has performed better with a 11.24% return vs -59.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SGOL is cheaper with a 0.17% expense ratio, compared with 1.10% for JDST.
JDST has the higher dividend yield at 5.96%, compared with 0.00% for SGOL.
JDST is categorized as Leveraged Equities, while SGOL is Gold. JDST tracks MVIS Global Junior Gold Miners Index (-300%), while SGOL tracks LBMA Gold Price PM ($/ozt). They also come from different issuers: Direxion and abrdn. Their fees differ too: 1.10% for JDST and 0.17% for SGOL.
SGOL currently has the higher Sharpe Ratio (0.83 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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