JNUG vs. SGOL
JNUG (Direxion Daily Junior Gold Miners Index Bull 2X ETF) and SGOL (abrdn Physical Gold Shares ETF) are both Gold funds - JNUG tracks the MVIS Global Junior Gold Miners Index (200%) while SGOL tracks the LBMA Gold Price PM ($/ozt). Both are passively managed. Over the past 10 years, JNUG returned -28.10%/yr vs 11.79%/yr for SGOL. A 0.74 correlation means they provide meaningful diversification when combined. JNUG charges 1.03%/yr vs 0.17%/yr for SGOL.
Performance
JNUG vs. SGOL - 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 SGOL's -4.70% return. Over the past 10 years, JNUG has underperformed SGOL with an annualized return of -28.10%, while SGOL has yielded a comparatively higher 11.79% 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%
SGOL
- 1D
- -1.86%
- 1M
- -8.83%
- YTD
- -4.70%
- 6M
- -8.63%
- 1Y
- 21.55%
- 3Y*
- 28.71%
- 5Y*
- 18.11%
- 10Y*
- 11.79%
JNUG vs. SGOL - 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% |
SGOL abrdn Physical Gold Shares ETF | -4.70% | 63.99% | 26.90% | 12.99% | -0.51% | -3.94% | 25.03% | 18.21% | -1.94% | 12.86% |
Correlation
The correlation between JNUG and SGOL is 0.81, 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 | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.78 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Oct 3, 2013 | 0.74 |
The correlation between JNUG and SGOL has been stable across timeframes, ranging from 0.74 to 0.81 - a consistent structural relationship.
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Return for Risk
JNUG vs. SGOL — Risk / Return Rank
JNUG
SGOL
JNUG vs. SGOL - 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 abrdn Physical Gold Shares ETF (SGOL). 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 | SGOL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.21 | ||
| 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 | +0.01 |
| Martin ratioReturn relative to average drawdown | 2.10 | 2.38 | -0.29 |
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Drawdowns
JNUG vs. SGOL - Drawdown Comparison
The maximum JNUG drawdown since its inception was -99.95%, which is greater than SGOL's maximum drawdown of -45.51%. Use the drawdown chart below to compare losses from any high point for JNUG and SGOL.
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Drawdown Indicators
| JNUG | SGOL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.95% | -45.51% | -54.44% |
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% | -24.37% | -52.30% |
Max Drawdown (10Y)Largest decline over 10 years | -99.66% | -24.37% | -75.29% |
Current DrawdownCurrent decline from peak | -99.66% | -23.85% | -75.81% |
Average DrawdownAverage peak-to-trough decline | -93.88% | -18.42% | -75.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.74% | 9.06% | +19.68% |
Volatility
JNUG vs. SGOL - Volatility Comparison
Direxion Daily Junior Gold Miners Index Bull 2X ETF (JNUG) has a higher volatility of 40.54% compared to abrdn Physical Gold Shares ETF (SGOL) at 8.11%. This indicates that JNUG's price experiences larger fluctuations and is considered to be riskier than SGOL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JNUG | SGOL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 40.54% | 8.11% | +32.43% |
Volatility (6M)Calculated over the trailing 6-month period | 90.30% | 24.14% | +66.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 104.33% | 27.28% | +77.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 81.63% | 18.13% | +63.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 106.71% | 16.00% | +90.71% |
JNUG vs. SGOL - Expense Ratio Comparison
JNUG has a 1.03% expense ratio, which is higher than SGOL's 0.17% expense ratio.
Dividends
JNUG vs. SGOL - Dividend Comparison
JNUG's dividend yield for the trailing twelve months is around 1.98%, while SGOL has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
SGOL abrdn Physical Gold Shares ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
JNUG and SGOL have a correlation of 0.81, 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 SGOL (8.11%). In terms of maximum drawdown, JNUG dropped -99.95% vs SGOL's -45.51%.
On 10-year performance, SGOL leads with 11.79% vs -28.10% for JNUG. On fees, SGOL is cheaper at 0.17% per year. On volatility, SGOL has been the lower-risk option at 8.11%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SGOL has performed better with a 11.79% return vs -28.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SGOL is cheaper with a 0.17% expense ratio, compared with 1.03% for JNUG.
JNUG has the higher dividend yield at 1.98%, compared with 0.00% for SGOL.
JNUG tracks MVIS Global Junior Gold Miners Index (200%), while SGOL tracks LBMA Gold Price PM ($/ozt). They also come from different issuers: Direxion and abrdn. Their fees differ too: 1.03% for JNUG and 0.17% for SGOL.
SGOL currently has the higher Sharpe Ratio (0.79 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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