JNUG vs. BITI
JNUG (Direxion Daily Junior Gold Miners Index Bull 2X ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - JNUG is a Gold fund tracking the MVIS Global Junior Gold Miners Index (200%), while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past 3 years, JNUG returned 47.01%/yr vs -30.65%/yr for BITI. At a correlation of -0.23, they often move in opposite directions. Both charge a 1.03% expense ratio.
Performance
JNUG vs. BITI - Performance Comparison
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Returns By Period
In the year-to-date period, JNUG achieves a -44.91% return, which is significantly lower than BITI's 28.75% return.
JNUG
- 1D
- -7.28%
- 1M
- -18.71%
- 6M
- -55.03%
- YTD
- -44.91%
- 1Y
- 40.04%
- 3Y*
- 47.01%
- 5Y*
- 8.26%
- 10Y*
- -31.88%
BITI
- 1D
- 2.65%
- 1M
- 1.46%
- 6M
- 34.68%
- YTD
- 28.75%
- 1Y
- 68.34%
- 3Y*
- -30.65%
- 5Y*
- —
- 10Y*
- —
JNUG vs. BITI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
JNUG Direxion Daily Junior Gold Miners Index Bull 2X ETF | -44.91% | 478.59% | 9.96% | -4.79% | -18.72% |
BITI ProShares Short Bitcoin ETF | 28.75% | -1.76% | -62.60% | -66.17% | 3.39% |
Correlation
The correlation between JNUG and BITI is -0.33, 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 | -0.33 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.18 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022 | -0.23 |
The correlation between JNUG and BITI shifts across timeframes, from -0.33 (1 year) to -0.18 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
JNUG vs. BITI — Risk / Return Rank
JNUG
BITI
JNUG vs. BITI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Junior Gold Miners Index Bull 2X ETF (JNUG) and ProShares Short Bitcoin ETF (BITI). 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.
| JNUG | BITI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.18 | ||
| Sortino ratioReturn per unit of downside risk | -0.94 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.26 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 0.59 | 2.72 | -2.13 |
| Martin ratioReturn relative to average drawdown | 1.24 | 6.78 | -5.54 |
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Drawdowns
JNUG vs. BITI - Drawdown Comparison
The maximum JNUG drawdown since its inception was -99.95%, which is greater than BITI's maximum drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for JNUG and BITI.
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Drawdown Indicators
| JNUG | BITI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.95% | -92.16% | -7.79% |
Max Drawdown (1Y)Largest decline over 1 year | -68.12% | -25.28% | -42.84% |
Max Drawdown (3Y)Largest decline over 3 years | -68.12% | -84.63% | +16.51% |
Max Drawdown (5Y)Largest decline over 5 years | -76.67% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -99.66% | — | — |
Current DrawdownCurrent decline from peak | -99.69% | -85.94% | -13.75% |
Average DrawdownAverage peak-to-trough decline | -93.91% | -68.34% | -25.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 32.35% | 10.11% | +22.24% |
Volatility
JNUG vs. BITI - Volatility Comparison
Direxion Daily Junior Gold Miners Index Bull 2X ETF (JNUG) has a higher volatility of 33.96% compared to ProShares Short Bitcoin ETF (BITI) at 11.38%. This indicates that JNUG's price experiences larger fluctuations and is considered to be riskier than BITI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JNUG | BITI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 33.96% | 11.38% | +22.58% |
Volatility (6M)Calculated over the trailing 6-month period | 90.37% | 34.25% | +56.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 105.88% | 44.14% | +61.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 82.05% | 52.28% | +29.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 106.27% | 52.28% | +53.99% |
JNUG vs. BITI - Expense Ratio Comparison
Both JNUG and BITI have an expense ratio of 1.03%.
Dividends
JNUG vs. BITI - Dividend Comparison
JNUG's dividend yield for the trailing twelve months is around 2.59%, less than BITI's 15.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
BITI ProShares Short Bitcoin ETF | 15.10% | 1.60% | 3.91% | 3.33% | 0.06% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
JNUG Direxion Daily Junior Gold Miners Index Bull 2X ETF | 2.59% | 1.04% | 2.01% | 1.62% | 0.00% | 0.52% | 0.10% | 0.46% | 0.06% | 0.51% |
Frequently Asked Questions
JNUG and BITI have a correlation of -0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JNUG has higher volatility (33.96%) compared to BITI (11.38%). In terms of maximum drawdown, JNUG dropped -99.95% vs BITI's -92.16%.
On 3-year performance, JNUG leads with 47.01% vs -30.65% for BITI. Both ETFs have the same 1.03% expense ratio. On volatility, BITI has been the lower-risk option at 11.38%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, JNUG has performed better with a 47.01% return vs -30.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JNUG and BITI have the same expense ratio: 1.03% per year.
BITI has the higher dividend yield at 15.10%, compared with 2.59% for JNUG.
JNUG is categorized as Gold, while BITI is Cryptocurrency. JNUG tracks MVIS Global Junior Gold Miners Index (200%), while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: Direxion and ProShares.
BITI currently has the higher Sharpe Ratio (1.56 vs 0.38), 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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