NUGT vs. JNUG

Last updated Aug 2, 2026

NUGT (Direxion Daily Gold Miners Index Bull 2X ETF) and JNUG (Direxion Daily Junior Gold Miners Index Bull 2X ETF) are both Gold funds from Direxion - NUGT tracks the MarketVector Global Gold Miners Index (200%) while JNUG tracks the MVIS Global Junior Gold Miners Index (200%). Both are passively managed. Over the past 10 years, NUGT returned -16.18%/yr vs -32.42%/yr for JNUG. Their 0.96 correlation means they have historically moved very closely together. NUGT charges 1.13%/yr vs 1.03%/yr for JNUG.

Performance

NUGT vs. JNUG - 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 Direxion Daily Junior Gold Miners Index Bull 2X ETF (JNUG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NUGT achieves a -39.52% return, which is significantly higher than JNUG's -45.63% return. Over the past 10 years, NUGT has outperformed JNUG with an annualized return of -16.18%, while JNUG has yielded a comparatively lower -32.42% 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%

JNUG

• 1D: -7.15%
• 1M: -15.90%
• 6M: -52.25%
• YTD: -45.63%
• 1Y: 55.90%
• 3Y*: 52.37%
• 5Y*: 8.91%
• 10Y*: -32.42%
• ALL TIME*: -36.14%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
JNUG Direxion Daily Junior Gold Miners Index Bull 2X ETF	$33.40M	$38.00M	$44.93M
NUGT Direxion Daily Gold Miners Index Bull 2X ETF	$66.79M	$70.57M	$87.96M

NUGT vs. JNUG - 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%
JNUG Direxion Daily Junior Gold Miners Index Bull 2X ETF	-45.63%	478.59%	9.96%	-4.79%	-43.60%	-46.61%	-85.51%	82.43%	-48.11%	-20.18%

Correlation

The correlation between NUGT and JNUG is 0.98 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	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.	0.97
Correlation (All Time) Calculated using the full available price history since Oct 3, 2013	0.96

The correlation between NUGT and JNUG has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.

NUGT vs. JNUG - Sectors Allocation Comparison

Sectors	NUGT	JNUG
Basic Materials	100.0%	100.0%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

NUGT vs. JNUG — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

NUGT

NUGT Risk / Return Rank: 29
NUGT Sharpe Ratio Rank: 25
NUGT Sortino Ratio Rank: 34
NUGT Omega Ratio Rank: 36
NUGT Calmar Ratio Rank: 26
NUGT Martin Ratio Rank: 22

JNUG

JNUG Risk / Return Rank: 30
JNUG Sharpe Ratio Rank: 25
JNUG Sortino Ratio Rank: 36
JNUG Omega Ratio Rank: 38
JNUG Calmar Ratio Rank: 27
JNUG Martin Ratio Rank: 23

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

NUGT vs. JNUG - 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 Bull 2X ETF (JNUG). 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	JNUG	Difference
Sharpe ratio: Return per unit of total volatility	0.56	0.56	0.00
Sortino ratio: Return per unit of downside risk	1.29	1.37	-0.07
Omega ratio: Gain probability vs. loss probability	1.17	1.18	-0.01
Calmar ratio: Return relative to maximum drawdown	0.80	0.85	-0.05
Martin ratio: Return relative to average drawdown	1.61	1.67	-0.06

NUGT vs. JNUG - Sharpe Ratio Comparison

The current NUGT Sharpe Ratio is 0.56, which is comparable to the JNUG Sharpe Ratio of 0.56. The chart below compares the historical Sharpe Ratios of NUGT and JNUG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

NUGT vs. JNUG - Drawdown Comparison

The maximum NUGT drawdown since its inception was -99.97%, roughly equal to the maximum JNUG drawdown of -99.95%. Use the drawdown chart below to compare losses from any high point for NUGT and JNUG.

Drawdown Indicators

	NUGT	JNUG	Difference
Max Drawdown Largest peak-to-trough decline	-99.97%	-99.95%	-0.02%
Max Drawdown (1Y) Largest decline over 1 year	-67.40%	-70.58%	+3.18%
Max Drawdown (3Y) Largest decline over 3 years	-67.40%	-70.58%	+3.18%
Max Drawdown (5Y) Largest decline over 5 years	-73.72%	-76.67%	+2.95%
Max Drawdown (10Y) Largest decline over 10 years	-96.89%	-99.66%	+2.77%
Current Drawdown Current decline from peak	-99.86%	-99.70%	-0.16%
Average Drawdown Average peak-to-trough decline	-91.59%	-93.93%	+2.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	33.61%	35.99%	-2.38%

Volatility

NUGT vs. JNUG - 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 Bull 2X ETF (JNUG) has a volatility of 29.49%. This indicates that NUGT experiences smaller price fluctuations and is considered to be less risky than JNUG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NUGT	JNUG	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.98%	29.49%	-4.51%
Volatility (6M) Calculated over the trailing 6-month period	80.05%	90.25%	-10.20%
Volatility (1Y) Calculated over the trailing 1-year period	96.01%	107.20%	-11.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	73.62%	82.38%	-8.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	87.38%	105.73%	-18.35%

NUGT vs. JNUG - Expense Ratio Comparison

NUGT has a 1.13% expense ratio, which is higher than JNUG's 1.03% expense ratio.

Dividends

NUGT vs. JNUG - Dividend Comparison

NUGT's dividend yield for the trailing twelve months is around 0.65%, less than JNUG's 2.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
JNUG Direxion Daily Junior Gold Miners Index Bull 2X ETF	2.62%	1.04%	2.01%	1.62%	0.00%	0.52%	0.10%	0.46%	0.06%	0.51%
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%	0.00%

Frequently Asked Questions

Can I hold both NUGT and JNUG in my portfolio?

With a correlation of 0.98, NUGT and JNUG move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, NUGT or JNUG?

JNUG has higher volatility (29.49%) compared to NUGT (24.98%). In terms of maximum drawdown, NUGT dropped -99.97% vs JNUG's -99.95%.

Which ETF is better, NUGT or JNUG?

On 10-year performance, NUGT leads with -16.18% vs -32.42% for JNUG. On fees, JNUG is cheaper at 1.03% 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.

Which ETF has performed better, NUGT or JNUG?

Over the 10-year period, NUGT has performed better with a -16.18% return vs -32.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NUGT or JNUG?

JNUG is cheaper with a 1.03% expense ratio, compared with 1.13% for NUGT.

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

JNUG has the higher dividend yield at 2.62%, compared with 0.65% for NUGT.

What is the main difference between NUGT and JNUG?

NUGT tracks MarketVector Global Gold Miners Index (200%), while JNUG tracks MVIS Global Junior Gold Miners Index (200%). Their fees differ too: 1.13% for NUGT and 1.03% for JNUG.

Which has better risk-adjusted returns?

NUGT currently has the higher Sharpe Ratio (0.56 vs 0.56), 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.