JNUG vs. SGDJ

Last updated Jun 24, 2026

JNUG (Direxion Daily Junior Gold Miners Index Bull 2X ETF) and SGDJ (Sprott Junior Gold Miners ETF) are both Gold funds - JNUG tracks the MVIS Global Junior Gold Miners Index (200%) while SGDJ tracks the Solactive Junior Gold Miners Custom Factors Index. Both are passively managed. Over the past 10 years, JNUG returned -28.10%/yr vs 10.08%/yr for SGDJ. Their correlation of 0.94 suggests significant overlap in exposure. JNUG charges 1.03%/yr vs 0.50%/yr for SGDJ.

Performance

JNUG vs. SGDJ - 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 Sprott Junior Gold Miners ETF (SGDJ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JNUG achieves a -37.86% return, which is significantly lower than SGDJ's -5.38% return. Over the past 10 years, JNUG has underperformed SGDJ with an annualized return of -28.10%, while SGDJ has yielded a comparatively higher 10.08% annualized 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%

SGDJ

• 1D: -5.01%
• 1M: -6.84%
• YTD: -5.38%
• 6M: -10.31%
• 1Y: 72.25%
• 3Y*: 50.80%
• 5Y*: 17.28%
• 10Y*: 10.08%

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

JNUG vs. SGDJ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JNUG Direxion Daily Junior Gold Miners Index Bull 2X ETF	-37.86%	478.59%	9.96%	-4.79%	-43.60%	-46.61%	-85.51%	82.43%	-48.11%	-20.18%
SGDJ Sprott Junior Gold Miners ETF	-5.38%	174.44%	19.35%	6.66%	-27.60%	-15.12%	47.91%	37.00%	-25.63%	5.94%

Correlation

The correlation between JNUG and SGDJ is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Mar 31, 2015	0.94

The correlation between JNUG and SGDJ has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.

JNUG vs. SGDJ - Sectors Allocation Comparison

Sectors	JNUG	SGDJ
Basic Materials	100.0%	100.0%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

JNUG vs. SGDJ — Risk / Return Rank

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

JNUG

JNUG Risk / Return Rank: 22
JNUG Sharpe Ratio Rank: 18
JNUG Sortino Ratio Rank: 26
JNUG Omega Ratio Rank: 28
JNUG Calmar Ratio Rank: 21
JNUG Martin Ratio Rank: 19

SGDJ

SGDJ Risk / Return Rank: 39
SGDJ Sharpe Ratio Rank: 42
SGDJ Sortino Ratio Rank: 37
SGDJ Omega Ratio Rank: 40
SGDJ Calmar Ratio Rank: 41
SGDJ Martin Ratio Rank: 35

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. SGDJ - 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 Sprott Junior Gold Miners ETF (SGDJ). 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	SGDJ	Difference
Sharpe ratio: Return per unit of total volatility	0.58	1.43	-0.85
Sortino ratio: Return per unit of downside risk	1.36	1.82	-0.46
Omega ratio: Gain probability vs. loss probability	1.18	1.25	-0.07
Calmar ratio: Return relative to maximum drawdown	0.89	1.97	-1.08
Martin ratio: Return relative to average drawdown	2.10	5.11	-3.01

JNUG vs. SGDJ - Sharpe Ratio Comparison

The current JNUG Sharpe Ratio is 0.58, which is lower than the SGDJ Sharpe Ratio of 1.43. The chart below compares the historical Sharpe Ratios of JNUG and SGDJ, 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. SGDJ - Drawdown Comparison

The maximum JNUG drawdown since its inception was -99.95%, which is greater than SGDJ's maximum drawdown of -59.27%. Use the drawdown chart below to compare losses from any high point for JNUG and SGDJ.

Drawdown Indicators

	JNUG	SGDJ	Difference
Max Drawdown Largest peak-to-trough decline	-99.95%	-59.27%	-40.68%
Max Drawdown (1Y) Largest decline over 1 year	-67.53%	-36.84%	-30.69%
Max Drawdown (3Y) Largest decline over 3 years	-67.53%	-36.84%	-30.69%
Max Drawdown (5Y) Largest decline over 5 years	-76.67%	-52.66%	-24.01%
Max Drawdown (10Y) Largest decline over 10 years	-99.66%	-59.27%	-40.39%
Current Drawdown Current decline from peak	-99.66%	-31.02%	-68.64%
Average Drawdown Average peak-to-trough decline	-93.88%	-26.25%	-67.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	28.74%	14.18%	+14.56%

Volatility

JNUG vs. SGDJ - Volatility Comparison

Direxion Daily Junior Gold Miners Index Bull 2X ETF (JNUG) has a higher volatility of 40.54% compared to Sprott Junior Gold Miners ETF (SGDJ) at 18.68%. This indicates that JNUG's price experiences larger fluctuations and is considered to be riskier than SGDJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JNUG	SGDJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	40.54%	18.68%	+21.86%
Volatility (6M) Calculated over the trailing 6-month period	90.30%	42.77%	+47.53%
Volatility (1Y) Calculated over the trailing 1-year period	104.33%	50.78%	+53.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	81.63%	40.87%	+40.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	106.71%	40.96%	+65.75%

JNUG vs. SGDJ - Expense Ratio Comparison

JNUG has a 1.03% expense ratio, which is higher than SGDJ's 0.50% expense ratio.

Dividends

JNUG vs. SGDJ - Dividend Comparison

JNUG's dividend yield for the trailing twelve months is around 1.98%, less than SGDJ's 8.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%	0.00%
SGDJ Sprott Junior Gold Miners ETF	8.85%	8.37%	6.55%	4.55%	2.46%	2.20%	1.97%	0.65%	0.00%	0.14%	1.77%	0.85%

Frequently Asked Questions

Can I hold both JNUG and SGDJ in my portfolio?

With a correlation of 0.96, JNUG and SGDJ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, JNUG or SGDJ?

JNUG has higher volatility (40.54%) compared to SGDJ (18.68%). In terms of maximum drawdown, JNUG dropped -99.95% vs SGDJ's -59.27%.

Which ETF is better, JNUG or SGDJ?

On 10-year performance, SGDJ leads with 10.08% vs -28.10% for JNUG. On fees, SGDJ is cheaper at 0.50% per year. On volatility, SGDJ has been the lower-risk option at 18.68%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JNUG or SGDJ?

Over the 10-year period, SGDJ has performed better with a 10.08% return vs -28.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JNUG or SGDJ?

SGDJ is cheaper with a 0.50% expense ratio, compared with 1.03% for JNUG.

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

SGDJ has the higher dividend yield at 8.85%, compared with 1.98% for JNUG.

What is the main difference between JNUG and SGDJ?

JNUG tracks MVIS Global Junior Gold Miners Index (200%), while SGDJ tracks Solactive Junior Gold Miners Custom Factors Index. They also come from different issuers: Direxion and Sprott. Their fees differ too: 1.03% for JNUG and 0.50% for SGDJ.

Which has better risk-adjusted returns?

SGDJ currently has the higher Sharpe Ratio (1.43 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.