# JDST (Direxion Daily Junior Gold Miners Index Bear 2X ETF)

Direxion · Leveraged ETFs · data as of Sep 11, 2026

Three months to Sep 11, 2026: JDST returned −43.4% where its own daily promise gave −44.9%, 1.4 points over.

## Key facts

- JDST, what GDXJ did: +20.3%, as of Sep 11, 2026.
- JDST, what −2 times a day gives: −44.9%, as of Sep 11, 2026.
- JDST, what the fund returned: −43.4%, as of Sep 11, 2026.
- JDST, the fund itself added: +1.4 pts, as of Sep 11, 2026.
- JDST, net assets: $51m (source, as filed for Apr 30, 2026).
- JDST, expense ratio: 0.92% (485BPOS XBRL, Feb 26, 2026).

## JDST over each window to Sep 11, 2026

| Window | Fund | GDXJ | -2x the move | Difference | GDXJ moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −15.2% | +5.0% | −9.9% | −5.3 pts | 54% |
| 3 months | −43.4% | +20.3% | −40.6% | −2.9 pts | 54% |
| 6 months | −37.4% | +1.2% | −2.4% | −35.0 pts | 58% |
| 1 year | −78.8% | +42.4% | −84.8% | +6.1 pts | 56% |
| 3 years | −98.3% | +284.5% | not meaningful over this window | not meaningful over this window | 44% |
| Since launch | −100.0% | +274.2% | not meaningful over this window | not meaningful over this window | 46% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | -2 times the daily move of GDXJ, reset daily | ETFIQ |
| Multiple a holder actually got over the window | -2.14 times, against -2 stated | ETFIQ |
| Underlying | GDXJ | ETFIQ |
| Segment | asset class, metal | ETFIQ |
| Net assets | $51m | source, as filed for Apr 30, 2026 |
| Expense ratio | 0.92% | 485BPOS XBRL, Feb 26, 2026 |
| Launched | Oct 3, 2013 | ETFIQ |
| Underlying volatility over the window | 54% annualized | ETFIQ |

## Questions

### Did JDST return -2 times GDXJ?

Over the window to Sep 11, 2026, GDXJ moved +20.3% and JDST returned −43.4%. 2 times that move is −40.6%, so the fund came out 2.9 points short of it.

### Why does JDST not return -2 times over a year?

Because it resets daily. JDST aims at -2 times each day's move, and daily results compound. Over a run where the underlying falls and comes back, compounding a levered daily return leaves a holder behind what -2 times the period move would suggest; over a steady run in one direction it can leave them ahead. The longer the holding, and the more the underlying moves about, the further apart the two figures get.


## Cite this page

ETFIQ, JDST, data as of Sep 11, 2026. https://etfiq.com/funds/JDST
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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