NAIL vs. GSG
NAIL (Direxion Daily Homebuilders & Supplies Bull 3X Shares) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - NAIL is a Leveraged Equities fund tracking the Dow Jones U.S. Select Home Construction Index (300%), while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. Both are passively managed. Over the past 10 years, NAIL returned 4.11%/yr vs 7.61%/yr for GSG. At a 0.11 correlation, their price movements are largely independent. NAIL charges 0.99%/yr vs 0.75%/yr for GSG.
Performance
NAIL vs. GSG - Performance Comparison
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Returns By Period
In the year-to-date period, NAIL achieves a -8.67% return, which is significantly lower than GSG's 33.95% return. Over the past 10 years, NAIL has underperformed GSG with an annualized return of 4.11%, while GSG has yielded a comparatively higher 7.61% annualized return.
NAIL
- 1D
- 6.84%
- 1M
- 0.99%
- 6M
- -36.17%
- YTD
- -8.67%
- 1Y
- -17.52%
- 3Y*
- -18.08%
- 5Y*
- -7.37%
- 10Y*
- 4.11%
GSG
- 1D
- -0.93%
- 1M
- 4.15%
- 6M
- 29.74%
- YTD
- 33.95%
- 1Y
- 37.41%
- 3Y*
- 15.32%
- 5Y*
- 14.20%
- 10Y*
- 7.61%
NAIL vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NAIL Direxion Daily Homebuilders & Supplies Bull 3X Shares | -8.67% | -40.43% | -22.83% | 259.61% | -75.23% | 168.20% | -32.08% | 184.63% | -73.96% | 268.71% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 33.95% | 5.93% | 8.52% | -5.51% | 24.08% | 38.77% | -23.94% | 15.62% | -13.88% | 3.89% |
Correlation
The correlation between NAIL and GSG is -0.27, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.03 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Aug 19, 2015 | 0.11 |
The correlation between NAIL and GSG shifts across timeframes, from -0.27 (1 year) to 0.11 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
NAIL vs. GSG — Risk / Return Rank
NAIL
GSG
NAIL vs. GSG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Homebuilders & Supplies Bull 3X Shares (NAIL) and iShares S&P GSCI Commodity-Indexed Trust (GSG). 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.
| NAIL | GSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.80 | ||
| Sortino ratioReturn per unit of downside risk | -1.84 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.29 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | -0.26 | 2.00 | -2.26 |
| Martin ratioReturn relative to average drawdown | -0.42 | 6.66 | -7.08 |
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Drawdowns
NAIL vs. GSG - Drawdown Comparison
The maximum NAIL drawdown since its inception was -93.75%, roughly equal to the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for NAIL and GSG.
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Drawdown Indicators
| NAIL | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.75% | -89.62% | -4.13% |
Max Drawdown (1Y)Largest decline over 1 year | -67.85% | -18.81% | -49.04% |
Max Drawdown (3Y)Largest decline over 3 years | -82.09% | -18.81% | -63.28% |
Max Drawdown (5Y)Largest decline over 5 years | -84.40% | -29.12% | -55.28% |
Max Drawdown (10Y)Largest decline over 10 years | -93.75% | -57.64% | -36.11% |
Current DrawdownCurrent decline from peak | -73.90% | -59.56% | -14.34% |
Average DrawdownAverage peak-to-trough decline | -44.10% | -63.68% | +19.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 42.24% | 5.63% | +36.61% |
Volatility
NAIL vs. GSG - Volatility Comparison
Direxion Daily Homebuilders & Supplies Bull 3X Shares (NAIL) has a higher volatility of 29.75% compared to iShares S&P GSCI Commodity-Indexed Trust (GSG) at 7.17%. This indicates that NAIL's price experiences larger fluctuations and is considered to be riskier than GSG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NAIL | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 29.75% | 7.17% | +22.58% |
Volatility (6M)Calculated over the trailing 6-month period | 63.85% | 21.54% | +42.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 89.29% | 23.48% | +65.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 87.98% | 22.80% | +65.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 89.62% | 22.00% | +67.62% |
NAIL vs. GSG - Expense Ratio Comparison
NAIL has a 0.99% expense ratio, which is higher than GSG's 0.75% expense ratio.
Dividends
NAIL vs. GSG - Dividend Comparison
NAIL's dividend yield for the trailing twelve months is around 0.68%, while GSG has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
GSG iShares S&P GSCI Commodity-Indexed Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
NAIL Direxion Daily Homebuilders & Supplies Bull 3X Shares | 0.68% | 1.55% | 0.63% | 0.22% | 0.00% | 0.00% | 0.01% | 0.17% | 0.35% | 1.25% |
Frequently Asked Questions
NAIL and GSG have a correlation of -0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NAIL has higher volatility (29.75%) compared to GSG (7.17%). In terms of maximum drawdown, NAIL dropped -93.75% vs GSG's -89.62%.
On 10-year performance, GSG leads with 7.61% vs 4.11% for NAIL. On fees, GSG is cheaper at 0.75% per year. On volatility, GSG has been the lower-risk option at 7.17%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, GSG has performed better with a 7.61% return vs 4.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GSG is cheaper with a 0.75% expense ratio, compared with 0.99% for NAIL.
NAIL has the higher dividend yield at 0.68%, compared with 0.00% for GSG.
NAIL is categorized as Leveraged Equities, while GSG is Commodities. NAIL tracks Dow Jones U.S. Select Home Construction Index (300%), while GSG tracks S&P GSCI Total Return Index. They also come from different issuers: Direxion and iShares. Their fees differ too: 0.99% for NAIL and 0.75% for GSG.
GSG currently has the higher Sharpe Ratio (1.60 vs -0.20), 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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