JNUG vs. GC=F

Last updated Jun 10, 2026

JNUG (Direxion Daily Junior Gold Miners Index Bull 2x Shares) is Leveraged Equities fund tracking the MVIS Global Junior Gold Miners Index (300%), while GC=F (Gold Futures) is an asset. At a 0.14 correlation, their price movements are largely independent.

Performance

JNUG vs. GC=F - Performance Comparison

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

Returns By Period

JNUG

• 1D: -4.18%
• 1M: -39.97%
• YTD: -37.67%
• 6M: -29.74%
• 1Y: 52.73%
• 3Y*: 54.90%
• 5Y*: 4.30%
• 10Y*: -27.28%

GC=F

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JNUG vs. GC=F - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
JNUG Direxion Daily Junior Gold Miners Index Bull 2x Shares	-37.67%	478.59%	9.96%	-4.79%	-27.16%
GC=F Gold Futures	0.00%	0.00%	0.00%	0.00%	5.84%

Correlation

The correlation between JNUG and GC=F is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 31, 2022	0.14

Return for Risk

JNUG vs. GC=F — Risk / Return Rank

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

JNUG

JNUG Risk / Return Rank: 23
JNUG Sharpe Ratio Rank: 19
JNUG Sortino Ratio Rank: 26
JNUG Omega Ratio Rank: 29
JNUG Calmar Ratio Rank: 21
JNUG Martin Ratio Rank: 19

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. GC=F - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Junior Gold Miners Index Bull 2x Shares (JNUG) and Gold Futures (GC=F). 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.

	JNUG	GC=F	Difference
Sharpe ratio: Return per unit of total volatility	0.52	—	—
Sortino ratio: Return per unit of downside risk	1.28	—	—
Omega ratio: Gain probability vs. loss probability	1.18	—	—
Calmar ratio: Return relative to maximum drawdown	0.83	—	—
Martin ratio: Return relative to average drawdown	1.99	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	JNUG	GC=F	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.52	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.05	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.26	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.30	—	—

Drawdowns

Drawdown Indicators

	JNUG	GC=F	Difference
Max Drawdown Largest peak-to-trough decline	-99.95%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-63.94%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-63.94%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-80.22%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-99.66%	—	—
Current Drawdown Current decline from peak	-99.65%	—	—
Average Drawdown Average peak-to-trough decline	-93.87%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	26.64%	—	—

Volatility

Volatility by Period

	JNUG	GC=F	Difference
Volatility (1M) Calculated over the trailing 1-month period	34.94%	—	—
Volatility (6M) Calculated over the trailing 6-month period	87.09%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	101.07%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	80.92%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	106.62%	—	—

Frequently Asked Questions

Can I hold both JNUG and GC=F in my portfolio?

JNUG and GC=F have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.