JDST vs. SPUU
JDST (Direxion Daily Junior Gold Miners Index Bear 2X Shares) and SPUU (Direxion Daily S&P 500 Bull 2X ETF) are both Leveraged Equities funds from Direxion - JDST tracks the MVIS Global Junior Gold Miners Index (-300%) while SPUU tracks the S&P 500 Index (200% Daily). Both are passively managed. Over the past 10 years, JDST returned -62.85%/yr vs 24.81%/yr for SPUU. At a correlation of -0.16, they often move in opposite directions. JDST charges 1.10%/yr vs 0.60%/yr for SPUU.
Performance
JDST vs. SPUU - 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 SPUU's 13.33% return. Over the past 10 years, JDST has underperformed SPUU with an annualized return of -62.85%, while SPUU has yielded a comparatively higher 24.81% 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%
SPUU
- 1D
- -2.91%
- 1M
- -3.20%
- YTD
- 13.33%
- 6M
- 10.95%
- 1Y
- 43.00%
- 3Y*
- 34.33%
- 5Y*
- 18.44%
- 10Y*
- 24.81%
JDST vs. SPUU - 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% |
SPUU Direxion Daily S&P 500 Bull 2X ETF | 13.33% | 26.55% | 44.25% | 47.28% | -38.72% | 61.27% | 21.85% | 66.84% | -14.59% | 44.33% |
Correlation
The correlation between JDST and SPUU is -0.41, 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 | -0.41 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.32 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.31 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.20 |
Correlation (All Time) Calculated using the full available price history since Jun 6, 2014 | -0.16 |
Over the past year, the inverse relationship between JDST and SPUU has strengthened: their correlation has moved from -0.16 to -0.41, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
JDST vs. SPUU — Risk / Return Rank
JDST
SPUU
JDST vs. SPUU - 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 S&P 500 Bull 2X ETF (SPUU). 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 | SPUU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.47 | ||
| Sortino ratioReturn per unit of downside risk | -3.67 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.30 | -0.45 |
| Calmar ratioReturn relative to maximum drawdown | -0.88 | 2.38 | -3.26 |
| Martin ratioReturn relative to average drawdown | -1.16 | 10.11 | -11.26 |
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Drawdowns
JDST vs. SPUU - Drawdown Comparison
The maximum JDST drawdown since its inception was -100.00%, which is greater than SPUU's maximum drawdown of -59.35%. Use the drawdown chart below to compare losses from any high point for JDST and SPUU.
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Drawdown Indicators
| JDST | SPUU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -59.35% | -40.65% |
Max Drawdown (1Y)Largest decline over 1 year | -88.98% | -18.19% | -70.79% |
Max Drawdown (3Y)Largest decline over 3 years | -98.58% | -35.18% | -63.40% |
Max Drawdown (5Y)Largest decline over 5 years | -99.28% | -46.59% | -52.69% |
Max Drawdown (10Y)Largest decline over 10 years | -100.00% | -59.35% | -40.65% |
Current DrawdownCurrent decline from peak | -100.00% | -6.62% | -93.38% |
Average DrawdownAverage peak-to-trough decline | -95.31% | -9.48% | -85.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 67.97% | 4.27% | +63.70% |
Volatility
JDST vs. SPUU - Volatility Comparison
Direxion Daily Junior Gold Miners Index Bear 2X Shares (JDST) has a higher volatility of 39.08% compared to Direxion Daily S&P 500 Bull 2X ETF (SPUU) at 9.70%. This indicates that JDST's price experiences larger fluctuations and is considered to be riskier than SPUU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JDST | SPUU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 39.08% | 9.70% | +29.38% |
Volatility (6M)Calculated over the trailing 6-month period | 85.69% | 19.93% | +65.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 103.81% | 25.22% | +78.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 82.06% | 33.67% | +48.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 104.94% | 35.81% | +69.13% |
JDST vs. SPUU - Expense Ratio Comparison
JDST has a 1.10% expense ratio, which is higher than SPUU's 0.60% expense ratio.
Dividends
JDST vs. SPUU - Dividend Comparison
JDST's dividend yield for the trailing twelve months is around 10.36%, more than SPUU's 1.42% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% | 0.00% |
SPUU Direxion Daily S&P 500 Bull 2X ETF | 1.42% | 1.63% | 0.55% | 0.83% | 0.88% | 3.04% | 8.03% | 1.80% | 5.50% | 6.96% | 8.08% | 4.42% |
Frequently Asked Questions
JDST and SPUU have a correlation of -0.41, 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 SPUU (9.70%). In terms of maximum drawdown, JDST dropped -100.00% vs SPUU's -59.35%.
On 10-year performance, SPUU leads with 24.81% vs -62.85% for JDST. On fees, SPUU is cheaper at 0.60% per year. On volatility, SPUU has been the lower-risk option at 9.70%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SPUU has performed better with a 24.81% return vs -62.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPUU is cheaper with a 0.60% expense ratio, compared with 1.10% for JDST.
JDST has the higher dividend yield at 10.36%, compared with 1.42% for SPUU.
JDST tracks MVIS Global Junior Gold Miners Index (-300%), while SPUU tracks S&P 500 Index (200% Daily). Their fees differ too: 1.10% for JDST and 0.60% for SPUU.
SPUU currently has the higher Sharpe Ratio (1.72 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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