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NUGT vs. MIDU
Performance
Return for Risk
Drawdowns
Volatility
Dividends

NUGT vs. MIDU

Last updated Jun 9, 2026

NUGT (Direxion Daily Gold Miners Bull 2X Shares) and MIDU (Direxion Daily Mid Cap Bull 3X Shares) are both Leveraged Equities funds from Direxion - NUGT tracks the NYSE Arca Gold Miners Index (300%) while MIDU tracks the S&P MidCap 400 Index (300%). Both are passively managed. Over the past 10 years, NUGT returned -10.65%/yr vs 11.46%/yr for MIDU. At a 0.19 correlation, their price movements are largely independent. NUGT charges 1.23%/yr vs 1.06%/yr for MIDU.

Performance

NUGT vs. MIDU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Gold Miners Bull 2X Shares (NUGT) and Direxion Daily Mid Cap Bull 3X Shares (MIDU). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, NUGT achieves a -28.93% return, which is significantly lower than MIDU's 31.63% return. Over the past 10 years, NUGT has underperformed MIDU with an annualized return of -10.65%, while MIDU has yielded a comparatively higher 11.46% annualized return.

NUGT

1D
-0.75%
1M
-32.74%
YTD
-28.93%
6M
-16.68%
1Y
76.94%
3Y*
53.31%
5Y*
13.32%
10Y*
-10.65%

MIDU

1D
0.47%
1M
-0.83%
YTD
31.63%
6M
31.16%
1Y
55.79%
3Y*
22.83%
5Y*
1.62%
10Y*
11.46%
*Multi-year figures are annualized to reflect compound growth (CAGR)

NUGT vs. MIDU - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
NUGT
Direxion Daily Gold Miners Bull 2X Shares		-28.93%425.05%2.89%2.60%-32.10%-26.31%-60.16%100.73%-44.52%3.73%
MIDU
Direxion Daily Mid Cap Bull 3X Shares		31.63%-2.75%20.32%27.79%-49.27%72.89%-18.31%77.38%-39.21%46.86%

Correlation

The correlation between NUGT and MIDU is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.36

Correlation (3Y)
Calculated over the trailing 3-year period

0.32

Correlation (5Y)
Calculated over the trailing 5-year period

0.31

Correlation (10Y)
Calculated over the trailing 10-year period

0.18

Correlation (All Time)
Calculated using the full available price history since Dec 9, 2010

0.19

The correlation between NUGT and MIDU shifts across timeframes, from 0.18 (10 years) to 0.36 (1 year), reflecting how their relationship changes across market environments.

NUGT vs. MIDU - Sectors Allocation Comparison

Sectors
NUGT
MIDU

Basic Materials

100.0%
4.8%

Communication Services

-

1.0%

Consumer Cyclical

-

10.7%

Consumer Defensive

-

3.8%

Energy

-

5.5%

Financial Services

-

14.4%

Healthcare

-

8.6%

Industrials

-

25.0%

Real Estate

-

7.5%

Technology

-

15.7%

Utilities

-

3.1%

Basic Materials

NUGT
100.0%
MIDU
4.8%

Communication Services

NUGT

-

MIDU
1.0%

Consumer Cyclical

NUGT

-

MIDU
10.7%

Consumer Defensive

NUGT

-

MIDU
3.8%

Energy

NUGT

-

MIDU
5.5%

Financial Services

NUGT

-

MIDU
14.4%

Healthcare

NUGT

-

MIDU
8.6%

Industrials

NUGT

-

MIDU
25.0%

Real Estate

NUGT

-

MIDU
7.5%

Technology

NUGT

-

MIDU
15.7%

Utilities

NUGT

-

MIDU
3.1%

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Direxion Daily Gold Miners Bull 2X Shares

Direxion Daily Mid Cap Bull 3X Shares

Often compared with NUGT:
NUGT vs. GDXUNUGT vs. UGLNUGT vs. JNUGNUGT vs. GLDNUGT vs. DUSTNUGT vs. SILNUGT vs. JDST
Often compared with MIDU:
MIDU vs. TNAMIDU vs. UMDDMIDU vs. MVVMIDU vs. AMAGXMIDU vs. SPXLMIDU vs. UPROMIDU vs. mdy

Return for Risk

NUGT vs. MIDU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
NUGT
NUGT Risk / Return Rank: 2929
Overall Rank
NUGT Sharpe Ratio Rank: 2626
Sharpe Ratio Rank
NUGT Sortino Ratio Rank: 3030
Sortino Ratio Rank
NUGT Omega Ratio Rank: 3434
Omega Ratio Rank
NUGT Calmar Ratio Rank: 3030
Calmar Ratio Rank
NUGT Martin Ratio Rank: 2626
Martin Ratio Rank
MIDU
MIDU Risk / Return Rank: 4242
Overall Rank
MIDU Sharpe Ratio Rank: 3737
Sharpe Ratio Rank
MIDU Sortino Ratio Rank: 3939
Sortino Ratio Rank
MIDU Omega Ratio Rank: 3636
Omega Ratio Rank
MIDU Calmar Ratio Rank: 4848
Calmar Ratio Rank
MIDU Martin Ratio Rank: 4747
Martin Ratio Rank
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. MIDU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Gold Miners Bull 2X Shares (NUGT) and Direxion Daily Mid Cap Bull 3X Shares (MIDU). 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.

NUGTMIDUDifference
Sharpe ratioReturn per unit of total volatility
0.85
1.20

-0.36

Sortino ratioReturn per unit of downside risk
1.48
1.81

-0.32

Omega ratioGain probability vs. loss probability

1.21

1.22

-0.01

Calmar ratioReturn relative to maximum drawdown

1.33

2.17

-0.85

Martin ratioReturn relative to average drawdown

3.20

7.20

-4.00

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NUGT vs. MIDU - Sharpe Ratio Comparison

The current NUGT Sharpe Ratio is 0.85, which is comparable to the MIDU Sharpe Ratio of 1.20. The chart below compares the historical Sharpe Ratios of NUGT and MIDU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

NUGTMIDUDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.85

1.20

-0.36

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.18

0.03

+0.16

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

-0.12

0.18

-0.30

Sharpe Ratio (All Time)

Calculated using the full available price history

-0.34

0.34

-0.68

Drawdowns

NUGT vs. MIDU - Drawdown Comparison

The maximum NUGT drawdown since its inception was -99.97%, which is greater than MIDU's maximum drawdown of -86.26%. Use the drawdown chart below to compare losses from any high point for NUGT and MIDU.

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Drawdown Indicators

NUGTMIDUDifference

Max Drawdown

Largest peak-to-trough decline

-99.97%

-86.26%

-13.71%

Max Drawdown (1Y)

Largest decline over 1 year

-58.33%

-25.80%

-32.53%

Max Drawdown (3Y)

Largest decline over 3 years

-58.33%

-60.41%

+2.08%

Max Drawdown (5Y)

Largest decline over 5 years

-73.72%

-64.14%

-9.58%

Max Drawdown (10Y)

Largest decline over 10 years

-96.91%

-86.26%

-10.65%

Current Drawdown

Current decline from peak

-99.83%

-8.37%

-91.46%

Average Drawdown

Average peak-to-trough decline

-91.53%

-22.43%

-69.10%

Ulcer Index

Depth and duration of drawdowns from previous peaks

24.14%

7.77%

+16.37%

Volatility

NUGT vs. MIDU - Volatility Comparison

Direxion Daily Gold Miners Bull 2X Shares (NUGT) has a higher volatility of 32.20% compared to Direxion Daily Mid Cap Bull 3X Shares (MIDU) at 12.33%. This indicates that NUGT's price experiences larger fluctuations and is considered to be riskier than MIDU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

NUGTMIDUDifference

Volatility (1M)

Calculated over the trailing 1-month period

32.20%

12.33%

+19.87%

Volatility (6M)

Calculated over the trailing 6-month period

77.52%

34.19%

+43.33%

Volatility (1Y)

Calculated over the trailing 1-year period

91.71%

46.69%

+45.02%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

72.37%

59.49%

+12.88%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

88.03%

63.63%

+24.40%

NUGT vs. MIDU - Expense Ratio Comparison

NUGT has a 1.23% expense ratio, which is higher than MIDU's 1.06% expense ratio.

Dividends

NUGT vs. MIDU - Dividend Comparison

NUGT's dividend yield for the trailing twelve months is around 0.43%, less than MIDU's 0.67% yield.

PositionTTM2025202420232022202120202019201820172016
MIDU
Direxion Daily Mid Cap Bull 3X Shares		0.67%1.04%1.10%1.43%0.11%0.00%0.06%0.71%0.70%2.67%1.89%
NUGT
Direxion Daily Gold Miners Bull 2X Shares		0.43%0.22%1.79%1.67%0.70%0.00%0.00%0.63%0.57%0.00%0.00%

Frequently Asked Questions

NUGT and MIDU have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

NUGT has higher volatility (32.20%) compared to MIDU (12.33%). In terms of maximum drawdown, NUGT dropped -99.97% vs MIDU's -86.26%.

On 10-year performance, MIDU leads with 11.46% vs -10.65% for NUGT. On fees, MIDU is cheaper at 1.06% per year. On volatility, MIDU has been the lower-risk option at 12.33%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, MIDU has performed better with a 11.46% return vs -10.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

MIDU is cheaper with a 1.06% expense ratio, compared with 1.23% for NUGT.

MIDU has the higher dividend yield at 0.67%, compared with 0.43% for NUGT.

NUGT tracks NYSE Arca Gold Miners Index (300%), while MIDU tracks S&P MidCap 400 Index (300%). Their fees differ too: 1.23% for NUGT and 1.06% for MIDU.

MIDU currently has the higher Sharpe Ratio (1.20 vs 0.84), 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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