NUGT vs. GLD
Compare and contrast key facts about Direxion Daily Gold Miners Bull 2X Shares (NUGT) and SPDR Gold Shares (GLD).
NUGT and GLD 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. GLD is a passively managed fund by State Street that tracks the performance of the LBMA Gold Price PM. It was launched on Nov 18, 2004. Both NUGT and GLD 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. GLD - Performance Comparison
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NUGT vs. GLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NUGT Direxion Daily Gold Miners Bull 2X Shares | 2.59% | 425.05% | 2.89% | 2.60% | -32.10% | -26.31% | -60.16% | 100.73% | -44.52% | 3.73% |
GLD SPDR Gold Shares | 8.57% | 63.68% | 26.66% | 12.69% | -0.77% | -4.15% | 24.81% | 17.86% | -1.94% | 12.81% |
Returns By Period
In the year-to-date period, NUGT achieves a 2.59% return, which is significantly lower than GLD's 8.57% return. Over the past 10 years, NUGT has underperformed GLD with an annualized return of -1.76%, while GLD has yielded a comparatively higher 13.92% annualized return.
NUGT
- 1D
- 14.02%
- 1M
- -39.84%
- YTD
- 2.59%
- 6M
- 22.25%
- 1Y
- 204.10%
- 3Y*
- 67.13%
- 5Y*
- 27.67%
- 10Y*
- -1.76%
GLD
- 1D
- 3.79%
- 1M
- -11.05%
- YTD
- 8.57%
- 6M
- 21.05%
- 1Y
- 49.33%
- 3Y*
- 32.92%
- 5Y*
- 21.58%
- 10Y*
- 13.92%
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NUGT vs. GLD - Expense Ratio Comparison
NUGT has a 1.23% expense ratio, which is higher than GLD's 0.40% expense ratio.
Return for Risk
NUGT vs. GLD — Risk / Return Rank
NUGT
GLD
NUGT vs. GLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Gold Miners Bull 2X Shares (NUGT) and SPDR Gold Shares (GLD). 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 | GLD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.25 | 1.79 | +0.47 |
Sortino ratioReturn per unit of downside risk | 2.36 | 2.21 | +0.14 |
Omega ratioGain probability vs. loss probability | 1.34 | 1.33 | +0.01 |
Calmar ratioReturn relative to maximum drawdown | 3.92 | 2.68 | +1.24 |
Martin ratioReturn relative to average drawdown | 12.64 | 9.90 | +2.73 |
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 | GLD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.25 | 1.79 | +0.47 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.39 | 1.22 | -0.83 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.02 | 0.88 | -0.90 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.33 | 0.62 | -0.95 |
Correlation
The correlation between NUGT and GLD is 0.76, 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. GLD - Dividend Comparison
NUGT's dividend yield for the trailing twelve months is around 0.29%, while GLD has not paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
NUGT Direxion Daily Gold Miners Bull 2X Shares | 0.29% | 0.22% | 1.79% | 1.67% | 0.70% | 0.00% | 0.00% | 0.63% | 0.57% |
GLD SPDR Gold Shares | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
NUGT vs. GLD - Drawdown Comparison
The maximum NUGT drawdown since its inception was -99.97%, which is greater than GLD's maximum drawdown of -45.56%. Use the drawdown chart below to compare losses from any high point for NUGT and GLD.
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Drawdown Indicators
| NUGT | GLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.97% | -45.56% | -54.41% |
Max Drawdown (1Y)Largest decline over 1 year | -53.58% | -19.21% | -34.37% |
Max Drawdown (5Y)Largest decline over 5 years | -73.79% | -21.03% | -52.76% |
Max Drawdown (10Y)Largest decline over 10 years | -96.91% | -22.00% | -74.91% |
Current DrawdownCurrent decline from peak | -99.76% | -13.23% | -86.53% |
Average DrawdownAverage peak-to-trough decline | -91.43% | -16.17% | -75.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.61% | 5.20% | +11.41% |
Volatility
NUGT vs. GLD - Volatility Comparison
Direxion Daily Gold Miners Bull 2X Shares (NUGT) has a higher volatility of 36.87% compared to SPDR Gold Shares (GLD) at 11.06%. This indicates that NUGT's price experiences larger fluctuations and is considered to be riskier than GLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NUGT | GLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 36.87% | 11.06% | +25.81% |
Volatility (6M)Calculated over the trailing 6-month period | 77.23% | 24.30% | +52.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 91.23% | 27.80% | +63.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 70.70% | 17.74% | +52.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 89.95% | 15.87% | +74.08% |