NUGT vs. QTAP
Compare and contrast key facts about Direxion Daily Gold Miners Bull 2X Shares (NUGT) and Innovator Growth Accelerated Plus ETF - April (QTAP).
NUGT and QTAP 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. QTAP is an actively managed fund by Innovator. It was launched on Apr 1, 2021.
Performance
NUGT vs. QTAP - Performance Comparison
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NUGT vs. QTAP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
NUGT Direxion Daily Gold Miners Bull 2X Shares | 11.72% | 425.05% | 2.89% | 2.60% | -32.10% | -12.15% |
QTAP Innovator Growth Accelerated Plus ETF - April | 3.02% | 19.36% | 17.34% | 43.32% | -25.87% | 15.63% |
Returns By Period
In the year-to-date period, NUGT achieves a 11.72% return, which is significantly higher than QTAP's 3.02% return.
NUGT
- 1D
- 8.90%
- 1M
- -33.79%
- YTD
- 11.72%
- 6M
- 30.46%
- 1Y
- 233.84%
- 3Y*
- 71.95%
- 5Y*
- 29.87%
- 10Y*
- -0.92%
QTAP
- 1D
- 1.74%
- 1M
- 1.79%
- YTD
- 3.02%
- 6M
- 5.43%
- 1Y
- 21.08%
- 3Y*
- 19.58%
- 5Y*
- —
- 10Y*
- —
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NUGT vs. QTAP - Expense Ratio Comparison
NUGT has a 1.23% expense ratio, which is higher than QTAP's 0.79% expense ratio.
Return for Risk
NUGT vs. QTAP — Risk / Return Rank
NUGT
QTAP
NUGT vs. QTAP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Gold Miners Bull 2X Shares (NUGT) and Innovator Growth Accelerated Plus ETF - April (QTAP). 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 | QTAP | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.57 | 1.29 | +1.28 |
Sortino ratioReturn per unit of downside risk | 2.51 | 2.05 | +0.45 |
Omega ratioGain probability vs. loss probability | 1.37 | 1.50 | -0.14 |
Calmar ratioReturn relative to maximum drawdown | 4.31 | 1.81 | +2.50 |
Martin ratioReturn relative to average drawdown | 13.80 | 12.95 | +0.86 |
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 | QTAP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.57 | 1.29 | +1.28 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.42 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.01 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.32 | 0.64 | -0.96 |
Correlation
The correlation between NUGT and QTAP is 0.21, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
NUGT vs. QTAP - Dividend Comparison
NUGT's dividend yield for the trailing twelve months is around 0.27%, while QTAP has not paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
NUGT Direxion Daily Gold Miners Bull 2X Shares | 0.27% | 0.22% | 1.79% | 1.67% | 0.70% | 0.00% | 0.00% | 0.63% | 0.57% |
QTAP Innovator Growth Accelerated Plus ETF - April | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
NUGT vs. QTAP - Drawdown Comparison
The maximum NUGT drawdown since its inception was -99.97%, which is greater than QTAP's maximum drawdown of -29.44%. Use the drawdown chart below to compare losses from any high point for NUGT and QTAP.
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Drawdown Indicators
| NUGT | QTAP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.97% | -29.44% | -70.53% |
Max Drawdown (1Y)Largest decline over 1 year | -53.58% | -12.04% | -41.54% |
Max Drawdown (5Y)Largest decline over 5 years | -73.79% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -96.91% | — | — |
Current DrawdownCurrent decline from peak | -99.74% | 0.00% | -99.74% |
Average DrawdownAverage peak-to-trough decline | -91.43% | -5.21% | -86.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.75% | 1.68% | +15.07% |
Volatility
NUGT vs. QTAP - Volatility Comparison
Direxion Daily Gold Miners Bull 2X Shares (NUGT) has a higher volatility of 33.96% compared to Innovator Growth Accelerated Plus ETF - April (QTAP) at 1.88%. This indicates that NUGT's price experiences larger fluctuations and is considered to be riskier than QTAP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NUGT | QTAP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 33.96% | 1.88% | +32.08% |
Volatility (6M)Calculated over the trailing 6-month period | 77.66% | 3.23% | +74.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 91.60% | 16.38% | +75.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 70.75% | 19.03% | +51.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 89.98% | 19.03% | +70.95% |