NUGT vs. GDXU
Compare and contrast key facts about Direxion Daily Gold Miners Bull 2X Shares (NUGT) and MicroSectors Gold Miners 3X Leveraged ETN (GDXU).
NUGT and GDXU are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. NUGT is a passively managed fund by Direxion that tracks the performance of the NYSE Arca Gold Miners Index (300%). It was launched on Apr 1, 2020. GDXU is a passively managed fund by BMO that tracks the performance of the S-Network MicroSectors Gold Miners Index. It was launched on Dec 2, 2020. Both NUGT and GDXU are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
NUGT vs. GDXU - Performance Comparison
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NUGT vs. GDXU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
NUGT Direxion Daily Gold Miners Bull 2X Shares | 11.72% | 425.05% | 2.89% | 2.60% | -32.10% | -26.31% | 2.65% |
GDXU MicroSectors Gold Miners 3X Leveraged ETN | -6.09% | 796.47% | -18.60% | -21.36% | -62.82% | -54.93% | 4.66% |
Returns By Period
In the year-to-date period, NUGT achieves a 11.72% return, which is significantly higher than GDXU's -6.09% return.
NUGT
- 1D
- 8.90%
- 1M
- -33.79%
- YTD
- 11.72%
- 6M
- 30.46%
- 1Y
- 233.84%
- 3Y*
- 71.95%
- 5Y*
- 29.87%
- 10Y*
- -0.92%
GDXU
- 1D
- 13.62%
- 1M
- -51.51%
- YTD
- -6.09%
- 6M
- 8.92%
- 1Y
- 287.76%
- 3Y*
- 63.33%
- 5Y*
- 6.19%
- 10Y*
- —
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NUGT vs. GDXU - Expense Ratio Comparison
NUGT has a 1.23% expense ratio, which is higher than GDXU's 0.95% expense ratio.
Return for Risk
NUGT vs. GDXU — Risk / Return Rank
NUGT
GDXU
NUGT vs. GDXU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Gold Miners Bull 2X Shares (NUGT) and MicroSectors Gold Miners 3X Leveraged ETN (GDXU). 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.
| NUGT | GDXU | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.57 | 2.07 | +0.50 |
Sortino ratioReturn per unit of downside risk | 2.51 | 2.39 | +0.12 |
Omega ratioGain probability vs. loss probability | 1.37 | 1.35 | +0.02 |
Calmar ratioReturn relative to maximum drawdown | 4.31 | 3.87 | +0.45 |
Martin ratioReturn relative to average drawdown | 13.80 | 10.85 | +2.96 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| NUGT | GDXU | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.57 | 2.07 | +0.50 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.42 | 0.06 | +0.37 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.01 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.32 | -0.01 | -0.31 |
Correlation
The correlation between NUGT and GDXU is 0.99, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
NUGT vs. GDXU - Dividend Comparison
NUGT's dividend yield for the trailing twelve months is around 0.27%, while GDXU has not paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
NUGT Direxion Daily Gold Miners Bull 2X Shares | 0.27% | 0.22% | 1.79% | 1.67% | 0.70% | 0.00% | 0.00% | 0.63% | 0.57% |
GDXU MicroSectors Gold Miners 3X Leveraged ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
NUGT vs. GDXU - Drawdown Comparison
The maximum NUGT drawdown since its inception was -99.97%, which is greater than GDXU's maximum drawdown of -94.39%. Use the drawdown chart below to compare losses from any high point for NUGT and GDXU.
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Drawdown Indicators
| NUGT | GDXU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.97% | -94.39% | -5.58% |
Max Drawdown (1Y)Largest decline over 1 year | -53.58% | -73.16% | +19.58% |
Max Drawdown (5Y)Largest decline over 5 years | -73.79% | -93.34% | +19.55% |
Max Drawdown (10Y)Largest decline over 10 years | -96.91% | — | — |
Current DrawdownCurrent decline from peak | -99.74% | -56.42% | -43.32% |
Average DrawdownAverage peak-to-trough decline | -91.43% | -69.97% | -21.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.75% | 26.08% | -9.33% |
Volatility
NUGT vs. GDXU - Volatility Comparison
The current volatility for Direxion Daily Gold Miners Bull 2X Shares (NUGT) is 33.96%, while MicroSectors Gold Miners 3X Leveraged ETN (GDXU) has a volatility of 53.09%. This indicates that NUGT experiences smaller price fluctuations and is considered to be less risky than GDXU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NUGT | GDXU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 33.96% | 53.09% | -19.13% |
Volatility (6M)Calculated over the trailing 6-month period | 77.66% | 122.23% | -44.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 91.60% | 140.32% | -48.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 70.75% | 109.02% | -38.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 89.98% | 109.02% | -19.04% |