Which came closer to its stated multiple, JDST or JNUG?

Over the window to Sep 30, 2026, JDST finished 6.8 points from what its multiple implies and JNUG finished 8.4 points from its own, so JDST came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.

Are JDST and JNUG levered on the same thing?

Yes. Both are levered on VanEck Junior Gold Miners ETF, JDST at -2 times and JNUG at +2 times the daily move.

Which one decays faster, JDST or JNUG?

Decay follows how much the underlying moves about. Over this window JDST’s moved at 54% annualized and JNUG’s at 54%, so JDST has the rougher ride and, at the same multiple, loses more to compounding.

Can I hold JDST or JNUG for a year?

Both reset every day, so the multiple in the name applies to a single day and the daily results compound. Over a year the total is not the multiple times the year’s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way.

Which is cheaper, JDST or JNUG?

JDST charges 0.92% a year and JNUG charges 1.03%, so JDST is cheaper. Fees come from each fund's prospectus.

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JDST vs JNUG: which held to its multiple?

Over three months against its own daily promise, JDST finished 1.4 points over and JNUG 1.9 points short. Direxion Daily Junior Gold Miners Index Bear 2X ETF and Direxion Daily Junior Gold Miners Index Bull 2X ETF.

−39.3%

JDST returned, 3 months

+24.0%

JNUG returned, 3 months

−6.8 pts

JDST from its stated multiple

−8.4 pts

JNUG from its stated multiple

JDST · 3 months to Sep 30, 20266.8 pts short of its stated multiple

JDST returned −39.3% while −2 times GDXJ's move would have been −32.4%

JNUG · 3 months to Sep 30, 20268.4 pts short of its stated multiple

JNUG returned +24.0% while 2 times GDXJ's move would have been +32.4%

ETFIQ Decay Resistance Score · JNUG scores higherDid it keep up with its own daily multiple, compounded day by day?

JDST among the 125 inverse ETFs over three months

JDST 41.6

0.4, the lowest in this set99.6, the highest

JNUG among the 470 leveraged ETFs, long, over three months

JNUG 71.9

0.1, the lowest in this set99.9, the highest

A percentile among the 125 inverse ETFs over three months. JNUG is a percentile among the 470 leveraged ETFs, long, over three months, a different set, so the two marks are not on one scale. It is a position in a set, not a rating, and neither end of it is a recommendation. All leveraged ETFs ranked by it → How it is computed →

Performance, window by window

	Total return		Multiple would give		Difference
Window	JDST	JNUG	JDST	JNUG	JDST	JNUG
1 month	+19.4%	−22.9%	+21.9%	−21.9%	−2.4 pts	−1.0 pts
3 months	−39.3%	+24.0%	−32.4%	+32.4%	−6.8 pts	−8.4 pts
6 months	−19.0%	−30.6%	+18.0%	−18.0%	−37.1 pts	−12.6 pts
1 year	−69.5%	−7.0%	−35.2%	+35.2%	−34.3 pts	−42.2 pts
3 years	−98.3%	+518.7%	not meaningful	not meaningful	not meaningful	not meaningful
Since launch JDST Oct 2013 · JNUG Oct 2013	−100.0%	−99.6%	not meaningful	not meaningful	not meaningful	not meaningful

JDST and JNUG over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

JDST

Direxion Daily Junior Gold Miners Index Bear 2X ETF · Aims to return twice the opposite of the daily move of VanEck Junior Gold Miners ETF (GDXJ)

JNUG

Direxion Daily Junior Gold Miners Index Bull 2X ETF · Aims to return twice the daily move of VanEck Junior Gold Miners ETF (GDXJ)

Issuer Direxion Direxion

Sets out to return -2x +2x

Underlying asset GDXJ GDXJ

Segment metal metal

Fund returned, 3 months or since launch −39.3% +24.0%

Underlying returned, over that window +16.2% +16.2%

What the stated multiple implies, over that window −32.4% +32.4%

Difference from stated, over that window −6.8 pts −8.4 pts

Fund returned, 1 year or since launch −69.5% −7.0%

Difference from stated, over that window −34.3 pts −42.2 pts

Underlying volatility 54% 54%

Expense ratio 0.92% 1.03%

Launched Oct 3, 2013 Oct 3, 2013

Net assets $37m $408m

JDST and JNUG on the same fields, as of Sep 30, 2026. Source: ETFIQ.

JDST in plain words

Three months to Sep 30, 2026: JDST returned −39.3% where its own daily promise gave −40.7%, 1.4 points over. Read the multiple against the whole window instead and −2 times GDXJ's 16.2% implies −32.4%, which makes JDST look 6.8 points short. 8.3 of that is daily compounding, which happens to any −2 times fund over the same path, and the rest is the fund. JDST aims to return -2 times GDXJ's move each day, then resets. Over one day it does that. Over longer, the daily results compound, so the total is not -2 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more. GDXJ moved at 54% annualized over that window. That is what decides how far the two figures separate: the same fund on a calm underlying and a violent one is a different product.

JNUG in plain words

Three months to Sep 30, 2026: JNUG returned +24.0% where its own daily promise gave +25.9%, 1.9 points short. Read the multiple against the whole window instead and 2 times GDXJ's 16.2% implies +32.4%, which makes JNUG look 8.4 points short. 6.5 of that is daily compounding, which happens to any 2 times fund over the same path, and the rest is the fund. JNUG aims to return +2 times GDXJ's move each day, then resets. Over longer, the daily results compound, so the total is not +2 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more.

Questions people ask

Which came closer to its stated multiple, JDST or JNUG?: Over the window to Sep 30, 2026, JDST finished 6.8 points from what its multiple implies and JNUG finished 8.4 points from its own, so JDST came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
Are JDST and JNUG levered on the same thing?: Yes. Both are levered on VanEck Junior Gold Miners ETF, JDST at -2 times and JNUG at +2 times the daily move.
Which one decays faster, JDST or JNUG?: Decay follows how much the underlying moves about. Over this window JDST’s moved at 54% annualized and JNUG’s at 54%, so JDST has the rougher ride and, at the same multiple, loses more to compounding.
Can I hold JDST or JNUG for a year?: Both reset every day, so the multiple in the name applies to a single day and the daily results compound. Over a year the total is not the multiple times the year’s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way.
Which is cheaper, JDST or JNUG?: JDST charges 0.92% a year and JNUG charges 1.03%, so JDST is cheaper. Fees come from each fund's prospectus.

Other comparisons

GDXJ →JDST on its own →JNUG on its own →How every figure is computed →Standards and sources →

Where these figures came from

JDST and JNUG filings on SEC EDGAR ↗JDST and JNUG prospectus with the expense ratio (SEC) ↗Direxion website ↗

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.

Cite this page

ETFIQ, JDST against JNUG, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/jdst-vs-jnug

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.