MEXX vs. IAUM
MEXX (Direxion Daily MSCI Mexico Bull 3X Shares) and IAUM (iShares Gold Trust Micro) are both exchange-traded funds - MEXX is a Leveraged Equities fund tracking the MSCI Mexico IMI 25-50 Net Total Return USD Index (300%), while IAUM is a Gold fund tracking the LBMA Gold Price PM. Both are passively managed. Over the past 3 years, MEXX returned 0.16%/yr vs 27.50%/yr for IAUM. At a 0.26 correlation, their price movements are largely independent. MEXX charges 1.21%/yr vs 0.09%/yr for IAUM.
Performance
MEXX vs. IAUM - Performance Comparison
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Returns By Period
In the year-to-date period, MEXX achieves a 9.13% return, which is significantly higher than IAUM's -7.58% return.
MEXX
- 1D
- -3.64%
- 1M
- -12.34%
- YTD
- 9.13%
- 6M
- 1.88%
- 1Y
- 68.55%
- 3Y*
- 0.16%
- 5Y*
- 11.77%
- 10Y*
- —
IAUM
- 1D
- -3.05%
- 1M
- -11.57%
- YTD
- -7.58%
- 6M
- -11.04%
- 1Y
- 19.85%
- 3Y*
- 27.50%
- 5Y*
- —
- 10Y*
- —
MEXX vs. IAUM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
MEXX Direxion Daily MSCI Mexico Bull 3X Shares | 9.13% | 181.49% | -73.13% | 115.60% | -12.96% | 14.13% |
IAUM iShares Gold Trust Micro | -7.58% | 64.27% | 27.04% | 13.12% | -0.49% | 3.87% |
Correlation
The correlation between MEXX and IAUM is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2021 | 0.26 |
The correlation between MEXX and IAUM shifts across timeframes, from 0.26 (all time) to 0.44 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
MEXX vs. IAUM — Risk / Return Rank
MEXX
IAUM
MEXX vs. IAUM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily MSCI Mexico Bull 3X Shares (MEXX) 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.
| MEXX | IAUM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.34 | ||
| Sortino ratioReturn per unit of downside risk | +0.62 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.16 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.78 | 0.76 | +1.01 |
| Martin ratioReturn relative to average drawdown | 5.02 | 2.16 | +2.86 |
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Drawdowns
MEXX vs. IAUM - Drawdown Comparison
The maximum MEXX drawdown since its inception was -95.58%, which is greater than IAUM's maximum drawdown of -26.14%. Use the drawdown chart below to compare losses from any high point for MEXX and IAUM.
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Drawdown Indicators
| MEXX | IAUM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.58% | -26.14% | -69.44% |
Max Drawdown (1Y)Largest decline over 1 year | -38.77% | -26.14% | -12.63% |
Max Drawdown (3Y)Largest decline over 3 years | -74.92% | -26.14% | -48.78% |
Max Drawdown (5Y)Largest decline over 5 years | -74.92% | — | — |
Current DrawdownCurrent decline from peak | -60.30% | -26.14% | -34.16% |
Average DrawdownAverage peak-to-trough decline | -65.46% | -5.48% | -59.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.71% | 9.20% | +4.51% |
Volatility
MEXX vs. IAUM - Volatility Comparison
Direxion Daily MSCI Mexico Bull 3X Shares (MEXX) has a higher volatility of 19.46% compared to iShares Gold Trust Micro (IAUM) at 8.54%. This indicates that MEXX'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
| MEXX | IAUM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.46% | 8.54% | +10.92% |
Volatility (6M)Calculated over the trailing 6-month period | 54.25% | 24.30% | +29.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 64.68% | 27.45% | +37.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 67.07% | 18.15% | +48.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 74.42% | 18.15% | +56.27% |
MEXX vs. IAUM - Expense Ratio Comparison
MEXX has a 1.21% expense ratio, which is higher than IAUM's 0.09% expense ratio.
Dividends
MEXX vs. IAUM - Dividend Comparison
MEXX's dividend yield for the trailing twelve months is around 1.54%, 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% |
MEXX Direxion Daily MSCI Mexico Bull 3X Shares | 1.54% | 1.60% | 5.81% | 1.66% | 1.33% | 0.63% | 0.12% | 1.60% | 5.61% | 0.27% |
Frequently Asked Questions
MEXX and IAUM have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MEXX has higher volatility (19.46%) compared to IAUM (8.54%). In terms of maximum drawdown, MEXX dropped -95.58% vs IAUM's -26.14%.
On 3-year performance, IAUM leads with 27.50% vs 0.16% for MEXX. On fees, IAUM is cheaper at 0.09% per year. On volatility, IAUM has been the lower-risk option at 8.54%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, IAUM has performed better with a 27.50% return vs 0.16%. 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 1.21% for MEXX.
MEXX has the higher dividend yield at 1.54%, compared with 0.00% for IAUM.
MEXX is categorized as Leveraged Equities, while IAUM is Gold. MEXX tracks MSCI Mexico IMI 25-50 Net Total Return USD Index (300%), while IAUM tracks LBMA Gold Price PM. They also come from different issuers: Direxion and iShares. Their fees differ too: 1.21% for MEXX and 0.09% for IAUM.
MEXX currently has the higher Sharpe Ratio (1.07 vs 0.73), 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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