NUGT vs. VOO

Last updated Jun 13, 2026

NUGT (Direxion Daily Gold Miners Bull 2X Shares) and VOO (Vanguard S&P 500 ETF) are both exchange-traded funds - NUGT is a Leveraged Equities fund tracking the NYSE Arca Gold Miners Index (300%), while VOO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, NUGT returned -9.77%/yr vs 15.50%/yr for VOO. At a 0.18 correlation, their price movements are largely independent. NUGT charges 1.23%/yr vs 0.03%/yr for VOO.

Performance

NUGT vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Gold Miners Bull 2X Shares (NUGT) and Vanguard S&P 500 ETF (VOO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NUGT achieves a -27.03% return, which is significantly lower than VOO's 9.08% return. Over the past 10 years, NUGT has underperformed VOO with an annualized return of -9.77%, while VOO has yielded a comparatively higher 15.50% annualized return.

NUGT

• 1D: 5.72%
• 1M: -30.06%
• YTD: -27.03%
• 6M: -26.67%
• 1Y: 63.65%
• 3Y*: 55.24%
• 5Y*: 13.62%
• 10Y*: -9.77%

VOO

• 1D: 0.55%
• 1M: -0.84%
• YTD: 9.08%
• 6M: 9.44%
• 1Y: 25.76%
• 3Y*: 20.95%
• 5Y*: 13.43%
• 10Y*: 15.50%

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

NUGT vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NUGT Direxion Daily Gold Miners Bull 2X Shares	-27.03%	425.05%	2.89%	2.60%	-32.10%	-26.31%	-60.16%	100.73%	-44.52%	3.73%
VOO Vanguard S&P 500 ETF	9.08%	17.82%	24.98%	26.32%	-18.17%	28.79%	18.32%	31.37%	-4.50%	21.77%

Correlation

The correlation between NUGT and VOO is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (3Y) Calculated over the trailing 3-year period	0.30
Correlation (5Y) Calculated over the trailing 5-year period	0.29
Correlation (10Y) Calculated over the trailing 10-year period	0.19
Correlation (All Time) Calculated using the full available price history since Dec 8, 2010	0.18

Over the past year, NUGT and VOO have become more correlated (0.39) than their long-term average of 0.18, meaning their price movements have been converging.

NUGT vs. VOO - Sectors Allocation Comparison

Sectors	NUGT	VOO
Basic Materials	100.0%	1.8%
Communication Services	-	11.3%
Consumer Cyclical	-	10.2%
Consumer Defensive	-	4.9%
Energy	-	3.5%
Financial Services	-	11.6%
Healthcare	-	8.5%
Industrials	-	8.3%
Real Estate	-	1.9%
Technology	-	35.7%
Utilities	-	2.4%

Return for Risk

NUGT vs. VOO — Risk / Return Rank

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

NUGT

NUGT Risk / Return Rank: 27
NUGT Sharpe Ratio Rank: 24
NUGT Sortino Ratio Rank: 29
NUGT Omega Ratio Rank: 33
NUGT Calmar Ratio Rank: 26
NUGT Martin Ratio Rank: 24

VOO

VOO Risk / Return Rank: 70
VOO Sharpe Ratio Rank: 71
VOO Sortino Ratio Rank: 69
VOO Omega Ratio Rank: 71
VOO Calmar Ratio Rank: 63
VOO Martin Ratio Rank: 76

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. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Gold Miners Bull 2X Shares (NUGT) and Vanguard S&P 500 ETF (VOO). 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	VOO	Difference
Sharpe ratio: Return per unit of total volatility	0.75	1.99	-1.24
Sortino ratio: Return per unit of downside risk	1.42	2.70	-1.28
Omega ratio: Gain probability vs. loss probability	1.20	1.36	-0.17
Calmar ratio: Return relative to maximum drawdown	1.10	2.75	-1.65
Martin ratio: Return relative to average drawdown	2.75	12.42	-9.67

NUGT vs. VOO - Sharpe Ratio Comparison

The current NUGT Sharpe Ratio is 0.75, which is lower than the VOO Sharpe Ratio of 1.99. The chart below compares the historical Sharpe Ratios of NUGT and VOO, 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. VOO - Drawdown Comparison

The maximum NUGT drawdown since its inception was -99.97%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for NUGT and VOO.

Drawdown Indicators

	NUGT	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-99.97%	-33.99%	-65.98%
Max Drawdown (1Y) Largest decline over 1 year	-63.43%	-8.90%	-54.53%
Max Drawdown (3Y) Largest decline over 3 years	-63.43%	-18.69%	-44.74%
Max Drawdown (5Y) Largest decline over 5 years	-73.72%	-24.52%	-49.20%
Max Drawdown (10Y) Largest decline over 10 years	-96.91%	-33.99%	-62.92%
Current Drawdown Current decline from peak	-99.83%	-2.34%	-97.49%
Average Drawdown Average peak-to-trough decline	-91.52%	-3.68%	-87.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.30%	1.97%	+23.33%

Volatility

NUGT vs. VOO - Volatility Comparison

Direxion Daily Gold Miners Bull 2X Shares (NUGT) has a higher volatility of 34.50% compared to Vanguard S&P 500 ETF (VOO) at 4.34%. This indicates that NUGT's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NUGT	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	34.50%	4.34%	+30.16%
Volatility (6M) Calculated over the trailing 6-month period	78.60%	9.58%	+69.02%
Volatility (1Y) Calculated over the trailing 1-year period	92.79%	12.27%	+80.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	72.64%	16.88%	+55.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	88.12%	18.03%	+70.09%

NUGT vs. VOO - Expense Ratio Comparison

NUGT has a 1.23% expense ratio, which is higher than VOO's 0.03% expense ratio.

Dividends

NUGT vs. VOO - Dividend Comparison

NUGT's dividend yield for the trailing twelve months is around 0.41%, less than VOO's 1.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NUGT Direxion Daily Gold Miners Bull 2X Shares	0.41%	0.22%	1.79%	1.67%	0.70%	0.00%	0.00%	0.63%	0.57%	0.00%	0.00%	0.00%
VOO Vanguard S&P 500 ETF	1.05%	1.13%	1.24%	1.46%	1.69%	1.25%	1.54%	1.88%	2.06%	1.78%	2.02%	2.10%

Frequently Asked Questions

Can I hold both NUGT and VOO in my portfolio?

NUGT and VOO have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NUGT or VOO?

NUGT has higher volatility (34.50%) compared to VOO (4.34%). In terms of maximum drawdown, NUGT dropped -99.97% vs VOO's -33.99%.

Which ETF is better, NUGT or VOO?

On 10-year performance, VOO leads with 15.50% vs -9.77% for NUGT. On fees, VOO is cheaper at 0.03% per year. On volatility, VOO has been the lower-risk option at 4.34%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NUGT or VOO?

Over the 10-year period, VOO has performed better with a 15.50% return vs -9.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NUGT or VOO?

VOO is cheaper with a 0.03% expense ratio, compared with 1.23% for NUGT.

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

VOO has the higher dividend yield at 1.05%, compared with 0.41% for NUGT.

What is the main difference between NUGT and VOO?

NUGT is categorized as Leveraged Equities, while VOO is S&P 500. NUGT tracks NYSE Arca Gold Miners Index (300%), while VOO tracks S&P 500 Index. They also come from different issuers: Direxion and Vanguard. Their fees differ too: 1.23% for NUGT and 0.03% for VOO.

Which has better risk-adjusted returns?

VOO currently has the higher Sharpe Ratio (1.99 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.