JDST vs. SPXS
JDST (Direxion Daily Junior Gold Miners Index Bear 2X Shares) and SPXS (Direxion Daily S&P 500 Bear 3X Shares) are both exchange-traded funds - JDST is a Leveraged Equities fund tracking the MVIS Global Junior Gold Miners Index (-300%), while SPXS is a Inverse Equities fund tracking the S&P 500 Index (-300%). Both are passively managed. Over the past 10 years, JDST returned -59.50%/yr vs -41.22%/yr for SPXS. Their 0.17 correlation means their historical movements had little consistent relationship. JDST charges 1.10%/yr vs 1.08%/yr for SPXS.
Performance
JDST vs. SPXS - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, JDST achieves a -18.61% return, which is significantly higher than SPXS's -23.70% return. Over the past 10 years, JDST has underperformed SPXS with an annualized return of -59.50%, while SPXS has yielded a comparatively higher -41.22% 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%
SPXS
- 1D
- -2.06%
- 1M
- -0.49%
- 6M
- -20.89%
- YTD
- -23.70%
- 1Y
- -41.03%
- 3Y*
- -38.58%
- 5Y*
- -32.70%
- 10Y*
- -41.22%
- ALL TIME*
- -44.68%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $11.95M | $13.83M | $18.78M | |
| $303.07M | $277.28M | $339.89M |
JDST vs. SPXS - 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% |
SPXS Direxion Daily S&P 500 Bear 3X Shares | -23.70% | -41.53% | -42.84% | -45.97% | 36.14% | -58.11% | -70.47% | -56.40% | 3.44% | -44.52% |
Correlation
The correlation between JDST and SPXS is 0.44, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.44 |
Correlation (3Y) Balances recent behavior with more history. | 0.32 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.31 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.21 |
Correlation (All Time) Calculated using the full available price history since Oct 3, 2013 | 0.17 |
Over the past year, JDST and SPXS have become more correlated (0.44) than their long-term average of 0.17, meaning their price movements have been converging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
JDST vs. SPXS — Risk / Return Rank
JDST
SPXS
JDST vs. SPXS - 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 Bear 3X Shares (SPXS). 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 | SPXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.25 | ||
| Sortino ratioReturn per unit of downside risk | +0.07 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 0.84 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.90 | -0.88 | -0.02 |
| Martin ratioReturn relative to average drawdown | -1.10 | -1.43 | +0.33 |
Loading charts...
Drawdowns
JDST vs. SPXS - Drawdown Comparison
The maximum JDST drawdown since its inception was -100.00%, roughly equal to the maximum SPXS drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for JDST and SPXS.
Loading charts...
Drawdown Indicators
| JDST | SPXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -100.00% | 0.00% |
Max Drawdown (1Y)Largest decline over 1 year | -88.72% | -43.64% | -45.08% |
Max Drawdown (3Y)Largest decline over 3 years | -98.58% | -84.13% | -14.45% |
Max Drawdown (5Y)Largest decline over 5 years | -99.28% | -90.11% | -9.17% |
Max Drawdown (10Y)Largest decline over 10 years | -100.00% | -99.56% | -0.44% |
Current DrawdownCurrent decline from peak | -100.00% | -100.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -95.35% | -96.31% | +0.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 72.79% | 26.70% | +46.09% |
Volatility
JDST vs. SPXS - Volatility Comparison
Direxion Daily Junior Gold Miners Index Bear 2X Shares (JDST) has a higher volatility of 30.04% compared to Direxion Daily S&P 500 Bear 3X Shares (SPXS) at 10.76%. This indicates that JDST's price experiences larger fluctuations and is considered to be riskier than SPXS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| JDST | SPXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 30.04% | 10.76% | +19.28% |
Volatility (6M)Calculated over the trailing 6-month period | 86.12% | 30.49% | +55.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 106.73% | 38.59% | +68.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 82.80% | 50.77% | +32.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 103.95% | 53.58% | +50.37% |
JDST vs. SPXS - Expense Ratio Comparison
JDST has a 1.10% expense ratio, which is higher than SPXS's 1.08% expense ratio.
Dividends
JDST vs. SPXS - Dividend Comparison
JDST's dividend yield for the trailing twelve months is around 5.96%, more than SPXS's 4.45% yield.
| 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% |
SPXS Direxion Daily S&P 500 Bear 3X Shares | 4.45% | 4.93% | 6.18% | 5.66% | 0.00% | 0.00% | 0.51% | 1.74% | 0.58% |
Frequently Asked Questions
JDST and SPXS have a correlation of 0.44, 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 SPXS (10.76%). In terms of maximum drawdown, JDST dropped -100.00% vs SPXS's -100.00%.
On 10-year performance, SPXS leads with -41.22% vs -59.50% for JDST. On fees, SPXS is cheaper at 1.08% per year. On volatility, SPXS has been the lower-risk option at 10.76%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SPXS has performed better with a -41.22% return vs -59.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPXS is cheaper with a 1.08% expense ratio, compared with 1.10% for JDST.
JDST has the higher dividend yield at 5.96%, compared with 4.45% for SPXS.
JDST is categorized as Leveraged Equities, while SPXS is Inverse Equities. JDST tracks MVIS Global Junior Gold Miners Index (-300%), while SPXS tracks S&P 500 Index (-300%). Their fees differ too: 1.10% for JDST and 1.08% for SPXS.
JDST currently has the higher Sharpe Ratio (-0.75 vs -0.99), 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.
Find the right allocation for JDST and SPXS
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer