NUGT vs. JDST
NUGT (Direxion Daily Gold Miners Index Bull 2X ETF) and JDST (Direxion Daily Junior Gold Miners Index Bear 2X Shares) are both exchange-traded funds - NUGT is a Gold fund tracking the MarketVector Global Gold Miners Index (200%), while JDST is a Leveraged Equities fund tracking the MVIS Global Junior Gold Miners Index (-300%). Both are passively managed. Over the past 10 years, NUGT returned -16.18%/yr vs -59.50%/yr for JDST. Their -0.96 correlation means they have often moved in opposite directions in the past. NUGT charges 1.13%/yr vs 1.10%/yr for JDST.
Performance
NUGT vs. JDST - Performance Comparison
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Returns By Period
In the year-to-date period, NUGT achieves a -39.52% return, which is significantly lower than JDST's -18.61% return. Over the past 10 years, NUGT has outperformed JDST with an annualized return of -16.18%, while JDST has yielded a comparatively lower -59.50% annualized return.
NUGT
- 1D
- -6.72%
- 1M
- -12.05%
- 6M
- -48.02%
- YTD
- -39.52%
- 1Y
- 49.33%
- 3Y*
- 49.26%
- 5Y*
- 13.78%
- 10Y*
- -16.18%
- ALL TIME*
- -33.84%
JDST
- 1D
- 7.27%
- 1M
- 10.46%
- 6M
- 5.97%
- YTD
- -18.61%
- 1Y
- -79.18%
- 3Y*
- -66.93%
- 5Y*
- -52.90%
- 10Y*
- -59.50%
- ALL TIME*
- -68.78%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $11.95M | $13.83M | $18.78M | |
| $66.79M | $70.57M | $87.96M |
NUGT vs. JDST - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NUGT Direxion Daily Gold Miners Index Bull 2X ETF | -39.52% | 425.05% | 2.89% | 2.60% | -32.10% | -26.31% | -60.16% | 100.73% | -44.52% | 3.73% |
JDST Direxion Daily Junior Gold Miners Index Bear 2X Shares | -18.61% | -91.10% | -40.98% | -28.29% | -26.25% | 10.97% | -95.97% | -80.30% | -1.60% | -63.44% |
Correlation
The correlation between NUGT and JDST is -0.98, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.98 |
Correlation (3Y) Balances recent behavior with more history. | -0.98 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.98 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.96 |
Correlation (All Time) Calculated using the full available price history since Oct 3, 2013 | -0.96 |
The correlation between NUGT and JDST has been stable across timeframes, ranging from -0.98 to -0.96 - a consistent structural relationship.
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Return for Risk
NUGT vs. JDST — Risk / Return Rank
NUGT
JDST
NUGT vs. JDST - 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 Direxion Daily Junior Gold Miners Index Bear 2X Shares (JDST). 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 | JDST | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.31 | ||
| Sortino ratioReturn per unit of downside risk | +2.70 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 0.85 | +0.32 |
| Calmar ratioReturn relative to maximum drawdown | 0.80 | -0.90 | +1.70 |
| Martin ratioReturn relative to average drawdown | 1.61 | -1.10 | +2.71 |
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Drawdowns
NUGT vs. JDST - Drawdown Comparison
The maximum NUGT drawdown since its inception was -99.97%, roughly equal to the maximum JDST drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for NUGT and JDST.
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Drawdown Indicators
| NUGT | JDST | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.97% | -100.00% | +0.03% |
Max Drawdown (1Y)Largest decline over 1 year | -67.40% | -88.72% | +21.32% |
Max Drawdown (3Y)Largest decline over 3 years | -67.40% | -98.58% | +31.18% |
Max Drawdown (5Y)Largest decline over 5 years | -73.72% | -99.28% | +25.56% |
Max Drawdown (10Y)Largest decline over 10 years | -96.89% | -100.00% | +3.11% |
Current DrawdownCurrent decline from peak | -99.86% | -100.00% | +0.14% |
Average DrawdownAverage peak-to-trough decline | -91.59% | -95.35% | +3.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.61% | 72.79% | -39.18% |
Volatility
NUGT vs. JDST - Volatility Comparison
The current volatility for Direxion Daily Gold Miners Index Bull 2X ETF (NUGT) is 24.98%, while Direxion Daily Junior Gold Miners Index Bear 2X Shares (JDST) has a volatility of 30.04%. This indicates that NUGT experiences smaller price fluctuations and is considered to be less risky than JDST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NUGT | JDST | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 24.98% | 30.04% | -5.06% |
Volatility (6M)Calculated over the trailing 6-month period | 80.05% | 86.12% | -6.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 96.01% | 106.73% | -10.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 73.62% | 82.80% | -9.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 87.38% | 103.95% | -16.57% |
NUGT vs. JDST - Expense Ratio Comparison
NUGT has a 1.13% expense ratio, which is higher than JDST's 1.10% expense ratio.
Dividends
NUGT vs. JDST - Dividend Comparison
NUGT's dividend yield for the trailing twelve months is around 0.65%, less than JDST's 5.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
JDST Direxion Daily Junior Gold Miners Index Bear 2X Shares | 5.96% | 15.08% | 6.50% | 4.81% | 0.00% | 0.00% | 11.75% | 3.16% | 0.57% |
NUGT Direxion Daily Gold Miners Index Bull 2X ETF | 0.65% | 0.22% | 1.79% | 1.67% | 0.70% | 0.00% | 0.00% | 0.63% | 0.57% |
Frequently Asked Questions
NUGT and JDST have a correlation of -0.98, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JDST has higher volatility (30.04%) compared to NUGT (24.98%). In terms of maximum drawdown, NUGT dropped -99.97% vs JDST's -100.00%.
On 10-year performance, NUGT leads with -16.18% vs -59.50% for JDST. On fees, JDST is cheaper at 1.10% per year. On volatility, NUGT has been the lower-risk option at 24.98%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, NUGT has performed better with a -16.18% return vs -59.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JDST is cheaper with a 1.10% expense ratio, compared with 1.13% for NUGT.
JDST has the higher dividend yield at 5.96%, compared with 0.65% for NUGT.
NUGT is categorized as Gold, while JDST is Leveraged Equities. NUGT tracks MarketVector Global Gold Miners Index (200%), while JDST tracks MVIS Global Junior Gold Miners Index (-300%). Their fees differ too: 1.13% for NUGT and 1.10% for JDST.
NUGT currently has the higher Sharpe Ratio (0.56 vs -0.75), 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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