JNUG vs. IAUM
JNUG (Direxion Daily Junior Gold Miners Index Bull 2X ETF) and IAUM (iShares Gold Trust Micro) are both Gold funds - JNUG tracks the MVIS Global Junior Gold Miners Index (200%) while IAUM tracks the LBMA Gold Price PM. Both are passively managed. Over the past 3 years, JNUG returned 61.56%/yr vs 28.82%/yr for IAUM. A 0.78 correlation means they provide meaningful diversification when combined. JNUG charges 1.03%/yr vs 0.09%/yr for IAUM.
Performance
JNUG vs. IAUM - Performance Comparison
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Returns By Period
In the year-to-date period, JNUG achieves a -37.86% return, which is significantly lower than IAUM's -4.68% return.
JNUG
- 1D
- -10.74%
- 1M
- -22.85%
- YTD
- -37.86%
- 6M
- -44.47%
- 1Y
- 60.12%
- 3Y*
- 61.56%
- 5Y*
- 9.70%
- 10Y*
- -28.10%
IAUM
- 1D
- -1.87%
- 1M
- -8.79%
- YTD
- -4.68%
- 6M
- -8.59%
- 1Y
- 21.67%
- 3Y*
- 28.82%
- 5Y*
- —
- 10Y*
- —
JNUG vs. IAUM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
JNUG Direxion Daily Junior Gold Miners Index Bull 2X ETF | -37.86% | 478.59% | 9.96% | -4.79% | -43.60% | -20.65% |
IAUM iShares Gold Trust Micro | -4.68% | 64.27% | 27.04% | 13.12% | -0.49% | 3.87% |
Correlation
The correlation between JNUG and IAUM is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2021 | 0.78 |
The correlation between JNUG and IAUM has been stable across timeframes, ranging from 0.78 to 0.80 - a consistent structural relationship.
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Return for Risk
JNUG vs. IAUM — Risk / Return Rank
JNUG
IAUM
JNUG vs. IAUM - 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 iShares Gold Trust Micro (IAUM). 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 | IAUM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.22 | ||
| Sortino ratioReturn per unit of downside risk | +0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.17 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.89 | 0.89 | 0.00 |
| Martin ratioReturn relative to average drawdown | 2.10 | 2.40 | -0.30 |
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Drawdowns
JNUG vs. IAUM - Drawdown Comparison
The maximum JNUG drawdown since its inception was -99.95%, which is greater than IAUM's maximum drawdown of -24.37%. Use the drawdown chart below to compare losses from any high point for JNUG and IAUM.
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Drawdown Indicators
| JNUG | IAUM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.95% | -24.37% | -75.58% |
Max Drawdown (1Y)Largest decline over 1 year | -67.53% | -24.37% | -43.16% |
Max Drawdown (3Y)Largest decline over 3 years | -67.53% | -24.37% | -43.16% |
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 | -99.66% | -23.81% | -75.85% |
Average DrawdownAverage peak-to-trough decline | -93.88% | -5.46% | -88.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.74% | 9.06% | +19.68% |
Volatility
JNUG vs. IAUM - Volatility Comparison
Direxion Daily Junior Gold Miners Index Bull 2X ETF (JNUG) has a higher volatility of 40.54% compared to iShares Gold Trust Micro (IAUM) at 8.12%. This indicates that JNUG's price experiences larger fluctuations and is considered to be riskier than IAUM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JNUG | IAUM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 40.54% | 8.12% | +32.42% |
Volatility (6M)Calculated over the trailing 6-month period | 90.30% | 24.11% | +66.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 104.33% | 27.27% | +77.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 81.63% | 18.10% | +63.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 106.71% | 18.10% | +88.61% |
JNUG vs. IAUM - Expense Ratio Comparison
JNUG has a 1.03% expense ratio, which is higher than IAUM's 0.09% expense ratio.
Dividends
JNUG vs. IAUM - Dividend Comparison
JNUG's dividend yield for the trailing twelve months is around 1.98%, while IAUM has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
IAUM iShares Gold Trust Micro | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
JNUG Direxion Daily Junior Gold Miners Index Bull 2X ETF | 1.98% | 1.04% | 2.01% | 1.62% | 0.00% | 0.52% | 0.10% | 0.46% | 0.06% | 0.51% |
Frequently Asked Questions
JNUG and IAUM have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JNUG has higher volatility (40.54%) compared to IAUM (8.12%). In terms of maximum drawdown, JNUG dropped -99.95% vs IAUM's -24.37%.
On 3-year performance, JNUG leads with 61.56% vs 28.82% for IAUM. On fees, IAUM is cheaper at 0.09% per year. On volatility, IAUM has been the lower-risk option at 8.12%. 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 61.56% return vs 28.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IAUM is cheaper with a 0.09% expense ratio, compared with 1.03% for JNUG.
JNUG has the higher dividend yield at 1.98%, compared with 0.00% for IAUM.
JNUG tracks MVIS Global Junior Gold Miners Index (200%), while IAUM tracks LBMA Gold Price PM. They also come from different issuers: Direxion and iShares. Their fees differ too: 1.03% for JNUG and 0.09% for IAUM.
IAUM currently has the higher Sharpe Ratio (0.80 vs 0.58), 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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