JNUG vs. UMDD

Last updated Jun 13, 2026

JNUG (Direxion Daily Junior Gold Miners Index Bull 2x Shares) and UMDD (ProShares UltraPro MidCap400) are both Leveraged Equities funds - JNUG tracks the MVIS Global Junior Gold Miners Index (300%) while UMDD tracks the S&P MidCap 400 Index (300%). Both are passively managed. Over the past 10 years, JNUG returned -26.31%/yr vs 12.78%/yr for UMDD. At a 0.17 correlation, their price movements are largely independent. JNUG charges 1.17%/yr vs 0.95%/yr for UMDD.

Performance

JNUG vs. UMDD - 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 ProShares UltraPro MidCap400 (UMDD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JNUG achieves a -32.23% return, which is significantly lower than UMDD's 41.42% return. Over the past 10 years, JNUG has underperformed UMDD with an annualized return of -26.31%, while UMDD has yielded a comparatively higher 12.78% annualized return.

JNUG

• 1D: 6.13%
• 1M: -37.63%
• YTD: -32.23%
• 6M: -30.59%
• 1Y: 61.91%
• 3Y*: 61.16%
• 5Y*: 6.86%
• 10Y*: -26.31%

UMDD

• 1D: 2.20%
• 1M: 10.73%
• YTD: 41.42%
• 6M: 35.75%
• 1Y: 66.43%
• 3Y*: 23.57%
• 5Y*: 2.41%
• 10Y*: 12.78%

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

JNUG vs. UMDD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JNUG Direxion Daily Junior Gold Miners Index Bull 2x Shares	-32.23%	478.59%	9.96%	-4.79%	-43.60%	-46.61%	-85.51%	82.43%	-48.11%	-20.18%
UMDD ProShares UltraPro MidCap400	41.42%	-2.57%	19.68%	27.21%	-49.60%	72.27%	-17.30%	78.90%	-40.29%	49.17%

Correlation

The correlation between JNUG and UMDD is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (3Y) Calculated over the trailing 3-year period	0.32
Correlation (5Y) Calculated over the trailing 5-year period	0.33
Correlation (10Y) Calculated over the trailing 10-year period	0.19
Correlation (All Time) Calculated using the full available price history since Oct 3, 2013	0.17

The correlation between JNUG and UMDD shifts across timeframes, from 0.17 (all time) to 0.35 (1 year), reflecting how their relationship changes across market environments.

JNUG vs. UMDD - Sectors Allocation Comparison

Sectors	JNUG	UMDD
Basic Materials	100.0%	2.6%
Communication Services	-	0.5%
Consumer Cyclical	-	5.1%
Consumer Defensive	-	2.2%
Energy	-	2.7%
Financial Services	-	7.1%
Healthcare	-	4.8%
Industrials	-	13.4%
Real Estate	-	3.9%
Technology	-	9.0%
Utilities	-	1.6%

Return for Risk

JNUG vs. UMDD — Risk / Return Rank

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

JNUG

JNUG Risk / Return Rank: 25
JNUG Sharpe Ratio Rank: 20
JNUG Sortino Ratio Rank: 28
JNUG Omega Ratio Rank: 31
JNUG Calmar Ratio Rank: 23
JNUG Martin Ratio Rank: 21

UMDD

UMDD Risk / Return Rank: 49
UMDD Sharpe Ratio Rank: 45
UMDD Sortino Ratio Rank: 45
UMDD Omega Ratio Rank: 43
UMDD Calmar Ratio Rank: 58
UMDD Martin Ratio Rank: 56

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. UMDD - 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 ProShares UltraPro MidCap400 (UMDD). 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	UMDD	Difference
Sharpe ratio: Return per unit of total volatility	0.61	1.40	-0.79
Sortino ratio: Return per unit of downside risk	1.37	2.01	-0.65
Omega ratio: Gain probability vs. loss probability	1.19	1.24	-0.06
Calmar ratio: Return relative to maximum drawdown	0.92	2.56	-1.64
Martin ratio: Return relative to average drawdown	2.26	8.58	-6.32

JNUG vs. UMDD - Sharpe Ratio Comparison

The current JNUG Sharpe Ratio is 0.61, which is lower than the UMDD Sharpe Ratio of 1.40. The chart below compares the historical Sharpe Ratios of JNUG and UMDD, 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. UMDD - Drawdown Comparison

The maximum JNUG drawdown since its inception was -99.95%, which is greater than UMDD's maximum drawdown of -86.24%. Use the drawdown chart below to compare losses from any high point for JNUG and UMDD.

Drawdown Indicators

	JNUG	UMDD	Difference
Max Drawdown Largest peak-to-trough decline	-99.95%	-86.24%	-13.71%
Max Drawdown (1Y) Largest decline over 1 year	-67.53%	-26.04%	-41.49%
Max Drawdown (3Y) Largest decline over 3 years	-67.53%	-60.33%	-7.20%
Max Drawdown (5Y) Largest decline over 5 years	-80.07%	-64.61%	-15.46%
Max Drawdown (10Y) Largest decline over 10 years	-99.66%	-86.24%	-13.42%
Current Drawdown Current decline from peak	-99.62%	-3.15%	-96.47%
Average Drawdown Average peak-to-trough decline	-93.87%	-23.58%	-70.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	27.53%	7.78%	+19.75%

Volatility

JNUG vs. UMDD - Volatility Comparison

Direxion Daily Junior Gold Miners Index Bull 2x Shares (JNUG) has a higher volatility of 39.22% compared to ProShares UltraPro MidCap400 (UMDD) at 14.80%. This indicates that JNUG's price experiences larger fluctuations and is considered to be riskier than UMDD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JNUG	UMDD	Difference
Volatility (1M) Calculated over the trailing 1-month period	39.22%	14.80%	+24.42%
Volatility (6M) Calculated over the trailing 6-month period	88.34%	35.26%	+53.08%
Volatility (1Y) Calculated over the trailing 1-year period	102.58%	47.64%	+54.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	81.23%	59.05%	+22.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	106.73%	62.32%	+44.41%

JNUG vs. UMDD - Expense Ratio Comparison

JNUG has a 1.17% expense ratio, which is higher than UMDD's 0.95% expense ratio.

Dividends

JNUG vs. UMDD - Dividend Comparison

JNUG's dividend yield for the trailing twelve months is around 1.81%, more than UMDD's 0.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JNUG Direxion Daily Junior Gold Miners Index Bull 2x Shares	1.81%	1.04%	2.01%	1.62%	0.00%	0.52%	0.10%	0.46%	0.06%	0.51%	0.00%	0.00%
UMDD ProShares UltraPro MidCap400	0.74%	1.00%	0.76%	0.19%	0.49%	0.06%	0.08%	0.64%	0.32%	0.00%	0.03%	0.06%

Frequently Asked Questions

Can I hold both JNUG and UMDD in my portfolio?

JNUG and UMDD have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JNUG or UMDD?

JNUG has higher volatility (39.22%) compared to UMDD (14.80%). In terms of maximum drawdown, JNUG dropped -99.95% vs UMDD's -86.24%.

Which ETF is better, JNUG or UMDD?

On 10-year performance, UMDD leads with 12.78% vs -26.31% for JNUG. On fees, UMDD is cheaper at 0.95% per year. On volatility, UMDD has been the lower-risk option at 14.80%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JNUG or UMDD?

Over the 10-year period, UMDD has performed better with a 12.78% return vs -26.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JNUG or UMDD?

UMDD is cheaper with a 0.95% expense ratio, compared with 1.17% for JNUG.

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

JNUG has the higher dividend yield at 1.81%, compared with 0.74% for UMDD.

What is the main difference between JNUG and UMDD?

JNUG tracks MVIS Global Junior Gold Miners Index (300%), while UMDD tracks S&P MidCap 400 Index (300%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.17% for JNUG and 0.95% for UMDD.

Which has better risk-adjusted returns?

UMDD currently has the higher Sharpe Ratio (1.40 vs 0.61), 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.