JNUG vs. SILJ

Last updated Jun 3, 2026

JNUG (Direxion Daily Junior Gold Miners Index Bull 2x Shares) and SILJ (Amplify Junior Silver Miners ETF) are both exchange-traded funds - JNUG is a Leveraged Equities fund tracking the MVIS Global Junior Gold Miners Index (300%), while SILJ is a Silver fund tracking the Nasdaq Junior Silver Miners Index. Both are passively managed. Over the past 10 years, JNUG returned -23.85%/yr vs 10.67%/yr for SILJ. Their correlation of 0.88 suggests significant overlap in exposure. JNUG charges 1.17%/yr vs 0.69%/yr for SILJ.

Performance

JNUG vs. SILJ - 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 Amplify Junior Silver Miners ETF (SILJ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JNUG achieves a -13.94% return, which is significantly lower than SILJ's 12.50% return. Over the past 10 years, JNUG has underperformed SILJ with an annualized return of -23.85%, while SILJ has yielded a comparatively higher 10.67% annualized return.

JNUG

• 1D: 1.51%
• 1M: -2.04%
• YTD: -13.94%
• 6M: -0.62%
• 1Y: 112.06%
• 3Y*: 71.84%
• 5Y*: 12.42%
• 10Y*: -23.85%

SILJ

• 1D: 2.07%
• 1M: 5.74%
• YTD: 12.50%
• 6M: 21.80%
• 1Y: 126.38%
• 3Y*: 50.45%
• 5Y*: 14.89%
• 10Y*: 10.67%

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

JNUG vs. SILJ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JNUG Direxion Daily Junior Gold Miners Index Bull 2x Shares	-13.94%	478.59%	9.96%	-4.79%	-43.60%	-46.61%	-85.51%	82.43%	-48.11%	-20.18%
SILJ Amplify Junior Silver Miners ETF	12.50%	183.89%	6.39%	-5.21%	-15.42%	-23.21%	33.00%	57.06%	-27.95%	-5.65%

Correlation

The correlation between JNUG and SILJ is 0.94, 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	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Oct 4, 2013	0.88

The correlation between JNUG and SILJ has been stable across timeframes, ranging from 0.88 to 0.95 - a consistent structural relationship.

JNUG vs. SILJ - Sectors Allocation Comparison

Sectors	JNUG	SILJ
Basic Materials	100.0%	99.8%
Communication Services	-	0.0%
Consumer Cyclical	-	-
Consumer Defensive	-	0.2%
Energy	-	-
Financial Services	-	0.3%
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

JNUG vs. SILJ — Risk / Return Rank

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

JNUG

JNUG Risk / Return Rank: 37
JNUG Sharpe Ratio Rank: 32
JNUG Sortino Ratio Rank: 33
JNUG Omega Ratio Rank: 37
JNUG Calmar Ratio Rank: 50
JNUG Martin Ratio Rank: 36

SILJ

SILJ Risk / Return Rank: 63
SILJ Sharpe Ratio Rank: 70
SILJ Sortino Ratio Rank: 52
SILJ Omega Ratio Rank: 57
SILJ Calmar Ratio Rank: 79
SILJ Martin Ratio Rank: 58

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. SILJ - 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 Amplify Junior Silver Miners ETF (SILJ). 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	SILJ	Difference
Sharpe ratio Return per unit of total volatility	1.14	2.33	-1.19
Sortino ratio Return per unit of downside risk	1.76	2.54	-0.78
Omega ratio Gain probability vs. loss probability	1.24	1.35	-0.11
Calmar ratio Return relative to maximum drawdown	2.45	4.11	-1.66
Martin ratio Return relative to average drawdown	5.48	10.23	-4.76
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JNUG vs. SILJ - Sharpe Ratio Comparison

The current JNUG Sharpe Ratio is 1.14, which is lower than the SILJ Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of JNUG and SILJ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	JNUG	SILJ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.14	2.33	-1.19
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.16	0.34	-0.18
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.22	0.23	-0.46
Sharpe Ratio (All Time) Calculated using the full available price history	-0.29	0.10	-0.38

Drawdowns

JNUG vs. SILJ - Drawdown Comparison

The maximum JNUG drawdown since its inception was -99.95%, which is greater than SILJ's maximum drawdown of -79.04%. Use the drawdown chart below to compare losses from any high point for JNUG and SILJ.

Drawdown Indicators

	JNUG	SILJ	Difference
Max Drawdown Largest peak-to-trough decline	-99.95%	-79.04%	-20.91%
Max Drawdown (1Y) Largest decline over 1 year	-56.39%	-34.71%	-21.68%
Max Drawdown (3Y) Largest decline over 3 years	-56.39%	-34.71%	-21.68%
Max Drawdown (5Y) Largest decline over 5 years	-80.95%	-55.47%	-25.48%
Max Drawdown (10Y) Largest decline over 10 years	-99.66%	-70.06%	-29.60%
Current Drawdown Current decline from peak	-99.52%	-22.75%	-76.77%
Average Drawdown Average peak-to-trough decline	-93.89%	-41.44%	-52.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.28%	13.96%	+11.32%

Volatility

JNUG vs. SILJ - Volatility Comparison

Direxion Daily Junior Gold Miners Index Bull 2x Shares (JNUG) has a higher volatility of 31.67% compared to Amplify Junior Silver Miners ETF (SILJ) at 17.98%. This indicates that JNUG's price experiences larger fluctuations and is considered to be riskier than SILJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JNUG	SILJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	31.67%	17.98%	+13.69%
Volatility (6M) Calculated over the trailing 6-month period	83.60%	44.90%	+38.70%
Volatility (1Y) Calculated over the trailing 1-year period	99.37%	55.05%	+44.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	80.40%	44.34%	+36.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	106.52%	46.22%	+60.30%

JNUG vs. SILJ - Expense Ratio Comparison

JNUG has a 1.17% expense ratio, which is higher than SILJ's 0.69% expense ratio.

Dividends

JNUG vs. SILJ - Dividend Comparison

JNUG's dividend yield for the trailing twelve months is around 1.43%, less than SILJ's 1.78% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JNUG Direxion Daily Junior Gold Miners Index Bull 2x Shares	1.43%	1.04%	2.01%	1.62%	0.00%	0.52%	0.10%	0.46%	0.06%	0.51%	0.00%	0.00%
SILJ Amplify Junior Silver Miners ETF	1.78%	2.00%	7.26%	0.01%	0.05%	0.36%	1.23%	1.45%	1.66%	0.00%	0.52%	2.46%

Frequently Asked Questions

Can I hold both JNUG and SILJ in my portfolio?

With a correlation of 0.94, JNUG and SILJ 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 SILJ?

JNUG has higher volatility (31.67%) compared to SILJ (17.98%). In terms of maximum drawdown, JNUG dropped -99.95% vs SILJ's -79.04%.

Which ETF is better, JNUG or SILJ?

On 10-year performance, SILJ leads with 10.67% vs -23.85% for JNUG. On fees, SILJ is cheaper at 0.69% per year. On volatility, SILJ has been the lower-risk option at 17.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JNUG or SILJ?

Over the 10-year period, SILJ has performed better with a 10.67% return vs -23.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JNUG or SILJ?

SILJ is cheaper with a 0.69% expense ratio, compared with 1.17% for JNUG.

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

SILJ has the higher dividend yield at 1.78%, compared with 1.43% for JNUG.

What is the main difference between JNUG and SILJ?

JNUG is categorized as Leveraged Equities, while SILJ is Silver. JNUG tracks MVIS Global Junior Gold Miners Index (300%), while SILJ tracks Nasdaq Junior Silver Miners Index. They also come from different issuers: Direxion and Amplify. Their fees differ too: 1.17% for JNUG and 0.69% for SILJ.

Which has better risk-adjusted returns?

SILJ currently has the higher Sharpe Ratio (2.33 vs 1.14), 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.