NUGT vs. GLDW

Last updated Jul 15, 2026

NUGT (Direxion Daily Gold Miners Index Bull 2X ETF) and GLDW (Roundhill Gold WeeklyPay ETF) are both exchange-traded funds - NUGT is a Gold fund tracking the MarketVector Global Gold Miners Index (200%), while GLDW is a Derivative Income fund actively managed by State Street. NUGT is passively managed, while GLDW is actively managed. Their correlation of 0.83 suggests significant overlap in exposure. NUGT charges 1.13%/yr vs 0.99%/yr for GLDW.

Performance

NUGT vs. GLDW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Gold Miners Index Bull 2X ETF (NUGT) and Roundhill Gold WeeklyPay ETF (GLDW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NUGT achieves a -37.58% return, which is significantly lower than GLDW's -10.06% return.

NUGT

• 1D: 4.04%
• 1M: -14.45%
• 6M: -50.47%
• YTD: -37.58%
• 1Y: 52.80%
• 3Y*: 44.99%
• 5Y*: 14.43%
• 10Y*: -15.01%

GLDW

• 1D: 1.57%
• 1M: -4.71%
• 6M: -16.30%
• YTD: -10.06%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NUGT vs. GLDW - Yearly Performance Comparison

	2026 (YTD)	2025
NUGT Direxion Daily Gold Miners Index Bull 2X ETF	-37.58%	41.78%
GLDW Roundhill Gold WeeklyPay ETF	-10.06%	9.36%

Correlation

The correlation between NUGT and GLDW is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 30, 2025	0.83

Return for Risk

NUGT vs. GLDW — Risk / Return Rank

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

NUGT

NUGT Risk / Return Rank: 24
NUGT Sharpe Ratio Rank: 20
NUGT Sortino Ratio Rank: 28
NUGT Omega Ratio Rank: 30
NUGT Calmar Ratio Rank: 22
NUGT Martin Ratio Rank: 20

GLDW

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

NUGT vs. GLDW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Gold Miners Index Bull 2X ETF (NUGT) and Roundhill Gold WeeklyPay ETF (GLDW). 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.

	NUGT	GLDW	Difference
Sharpe ratio: Return per unit of total volatility	0.56	—	—
Sortino ratio: Return per unit of downside risk	1.28	—	—
Omega ratio: Gain probability vs. loss probability	1.17	—	—
Calmar ratio: Return relative to maximum drawdown	0.82	—	—
Martin ratio: Return relative to average drawdown	1.75	—	—

Drawdowns

NUGT vs. GLDW - Drawdown Comparison

The maximum NUGT drawdown since its inception was -99.97%, which is greater than GLDW's maximum drawdown of -32.25%. Use the drawdown chart below to compare losses from any high point for NUGT and GLDW.

Drawdown Indicators

	NUGT	GLDW	Difference
Max Drawdown Largest peak-to-trough decline	-99.97%	-32.25%	-67.72%
Max Drawdown (1Y) Largest decline over 1 year	-64.82%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-64.82%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-73.72%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-96.91%	—	—
Current Drawdown Current decline from peak	-99.85%	-30.99%	-68.86%
Average Drawdown Average peak-to-trough decline	-91.56%	-11.93%	-79.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	30.29%	—	—

Volatility

Volatility by Period

	NUGT	GLDW	Difference
Volatility (1M) Calculated over the trailing 1-month period	27.51%	—	—
Volatility (6M) Calculated over the trailing 6-month period	80.24%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	95.08%	36.57%	+58.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	73.31%	36.57%	+36.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	87.69%	36.57%	+51.12%

NUGT vs. GLDW - Expense Ratio Comparison

NUGT has a 1.13% expense ratio, which is higher than GLDW's 0.99% expense ratio.

Dividends

NUGT vs. GLDW - Dividend Comparison

NUGT's dividend yield for the trailing twelve months is around 0.63%, less than GLDW's 25.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
GLDW Roundhill Gold WeeklyPay ETF	25.53%	3.75%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
NUGT Direxion Daily Gold Miners Index Bull 2X ETF	0.63%	0.22%	1.79%	1.67%	0.70%	0.00%	0.00%	0.63%	0.57%

Frequently Asked Questions

Can I hold both NUGT and GLDW in my portfolio?

NUGT and GLDW have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NUGT or GLDW?

On fees, GLDW is cheaper at 0.99% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NUGT or GLDW?

GLDW is cheaper with a 0.99% expense ratio, compared with 1.13% for NUGT.

Which ETF pays a higher dividend yield, NUGT or GLDW?

GLDW has the higher dividend yield at 25.53%, compared with 0.63% for NUGT.

What is the main difference between NUGT and GLDW?

NUGT is categorized as Gold, while GLDW is Derivative Income. They also come from different issuers: Direxion and State Street. Their fees differ too: 1.13% for NUGT and 0.99% for GLDW.