JNUG vs. EURL

Last updated Jul 22, 2026

JNUG (Direxion Daily Junior Gold Miners Index Bull 2X ETF) and EURL (Direxion Daily FTSE Europe Bull 3x Shares) are both exchange-traded funds - JNUG is a Gold fund tracking the MVIS Global Junior Gold Miners Index (200%), while EURL is a Leveraged Equities fund tracking the FTSE Developed Europe Index (300%). Both are passively managed. Over the past 10 years, JNUG returned -30.17%/yr vs 10.87%/yr for EURL. At a 0.28 correlation, their price movements are largely independent. JNUG charges 1.03%/yr vs 1.07%/yr for EURL.

Performance

JNUG vs. EURL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Junior Gold Miners Index Bull 2X ETF (JNUG) and Direxion Daily FTSE Europe Bull 3x Shares (EURL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JNUG achieves a -43.35% return, which is significantly lower than EURL's 13.43% return. Over the past 10 years, JNUG has underperformed EURL with an annualized return of -30.17%, while EURL has yielded a comparatively higher 10.87% annualized return.

JNUG

• 1D: 11.43%
• 1M: -20.63%
• 6M: -59.92%
• YTD: -43.35%
• 1Y: 45.37%
• 3Y*: 49.80%
• 5Y*: 11.47%
• 10Y*: -30.17%
• ALL TIME*: -36.00%

EURL

• 1D: 3.50%
• 1M: 0.26%
• 6M: 8.58%
• YTD: 13.43%
• 1Y: 38.54%
• 3Y*: 27.58%
• 5Y*: 7.62%
• 10Y*: 10.87%
• ALL TIME*: 2.52%

*Multi-year figures are annualized to reflect compound growth (CAGR)

JNUG vs. EURL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JNUG Direxion Daily Junior Gold Miners Index Bull 2X ETF	-43.35%	478.59%	9.96%	-4.79%	-43.60%	-46.61%	-85.51%	82.43%	-48.11%	-20.18%
EURL Direxion Daily FTSE Europe Bull 3x Shares	13.43%	105.85%	-11.42%	44.19%	-54.41%	46.59%	-23.19%	72.61%	-46.39%	91.32%

Correlation

The correlation between JNUG and EURL is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (3Y) Calculated over the trailing 3-year period	0.45
Correlation (5Y) Calculated over the trailing 5-year period	0.46
Correlation (10Y) Calculated over the trailing 10-year period	0.33
Correlation (All Time) Calculated using the full available price history since Jan 22, 2014	0.28

Over the past year, JNUG and EURL have become more correlated (0.49) than their long-term average of 0.28, meaning their price movements have been converging.

JNUG vs. EURL - Sectors Allocation Comparison

Sectors	JNUG	EURL
Basic Materials	100.0%	5.6%
Communication Services	-	3.1%
Consumer Cyclical	-	7.1%
Consumer Defensive	-	7.7%
Energy	-	5.0%
Financial Services	-	23.5%
Healthcare	-	12.4%
Industrials	-	20.3%
Real Estate	-	1.6%
Technology	-	9.4%
Utilities	-	4.4%

Return for Risk

JNUG vs. EURL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

JNUG

JNUG Risk / Return Rank: 24
JNUG Sharpe Ratio Rank: 19
JNUG Sortino Ratio Rank: 30
JNUG Omega Ratio Rank: 31
JNUG Calmar Ratio Rank: 20
JNUG Martin Ratio Rank: 19

EURL

EURL Risk / Return Rank: 32
EURL Sharpe Ratio Rank: 30
EURL Sortino Ratio Rank: 33
EURL Omega Ratio Rank: 31
EURL Calmar Ratio Rank: 32
EURL Martin Ratio Rank: 33

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

JNUG vs. EURL - 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 Direxion Daily FTSE Europe Bull 3x Shares (EURL). 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	EURL	Difference
Sharpe ratio: Return per unit of total volatility	0.43	0.81	-0.38
Sortino ratio: Return per unit of downside risk	1.24	1.38	-0.14
Omega ratio: Gain probability vs. loss probability	1.16	1.16	0.00
Calmar ratio: Return relative to maximum drawdown	0.65	1.17	-0.53
Martin ratio: Return relative to average drawdown	1.34	3.55	-2.21

JNUG vs. EURL - Sharpe Ratio Comparison

The current JNUG Sharpe Ratio is 0.43, which is lower than the EURL Sharpe Ratio of 0.81. The chart below compares the historical Sharpe Ratios of JNUG and EURL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

JNUG vs. EURL - Drawdown Comparison

The maximum JNUG drawdown since its inception was -99.95%, which is greater than EURL's maximum drawdown of -84.65%. Use the drawdown chart below to compare losses from any high point for JNUG and EURL.

Drawdown Indicators

	JNUG	EURL	Difference
Max Drawdown Largest peak-to-trough decline	-99.95%	-84.65%	-15.30%
Max Drawdown (1Y) Largest decline over 1 year	-70.58%	-33.05%	-37.53%
Max Drawdown (3Y) Largest decline over 3 years	-70.58%	-38.81%	-31.77%
Max Drawdown (5Y) Largest decline over 5 years	-76.67%	-75.24%	-1.43%
Max Drawdown (10Y) Largest decline over 10 years	-99.66%	-84.65%	-15.01%
Current Drawdown Current decline from peak	-99.69%	-9.00%	-90.69%
Average Drawdown Average peak-to-trough decline	-93.92%	-36.70%	-57.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	34.03%	10.89%	+23.14%

Volatility

JNUG vs. EURL - Volatility Comparison

Direxion Daily Junior Gold Miners Index Bull 2X ETF (JNUG) has a higher volatility of 29.35% compared to Direxion Daily FTSE Europe Bull 3x Shares (EURL) at 11.85%. This indicates that JNUG's price experiences larger fluctuations and is considered to be riskier than EURL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JNUG	EURL	Difference
Volatility (1M) Calculated over the trailing 1-month period	29.35%	11.85%	+17.50%
Volatility (6M) Calculated over the trailing 6-month period	91.33%	41.44%	+49.89%
Volatility (1Y) Calculated over the trailing 1-year period	106.74%	47.96%	+58.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	82.18%	53.42%	+28.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	106.01%	54.44%	+51.57%

JNUG vs. EURL - Expense Ratio Comparison

JNUG has a 1.03% expense ratio, which is lower than EURL's 1.07% expense ratio.

Dividends

JNUG vs. EURL - Dividend Comparison

JNUG's dividend yield for the trailing twelve months is around 2.52%, more than EURL's 1.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
EURL Direxion Daily FTSE Europe Bull 3x Shares	1.59%	1.50%	3.51%	2.50%	1.80%	0.33%	0.41%	1.17%	3.07%	0.38%
JNUG Direxion Daily Junior Gold Miners Index Bull 2X ETF	2.52%	1.04%	2.01%	1.62%	0.00%	0.52%	0.10%	0.46%	0.06%	0.51%

Frequently Asked Questions

Can I hold both JNUG and EURL in my portfolio?

JNUG and EURL have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JNUG or EURL?

JNUG has higher volatility (29.35%) compared to EURL (11.85%). In terms of maximum drawdown, JNUG dropped -99.95% vs EURL's -84.65%.

Which ETF is better, JNUG or EURL?

On 10-year performance, EURL leads with 10.87% vs -30.17% for JNUG. On fees, JNUG is cheaper at 1.03% per year. On volatility, EURL has been the lower-risk option at 11.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JNUG or EURL?

Over the 10-year period, EURL has performed better with a 10.87% return vs -30.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JNUG or EURL?

JNUG is cheaper with a 1.03% expense ratio, compared with 1.07% for EURL.

Which ETF pays a higher dividend yield, JNUG or EURL?

JNUG has the higher dividend yield at 2.52%, compared with 1.59% for EURL.

What is the main difference between JNUG and EURL?

JNUG is categorized as Gold, while EURL is Leveraged Equities. JNUG tracks MVIS Global Junior Gold Miners Index (200%), while EURL tracks FTSE Developed Europe Index (300%). Their fees differ too: 1.03% for JNUG and 1.07% for EURL.

Which has better risk-adjusted returns?

EURL currently has the higher Sharpe Ratio (0.81 vs 0.43), 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.