# JNUG (Direxion Daily Junior Gold Miners Index Bull 2X ETF)

Direxion · Leveraged ETFs · data as of Sep 30, 2026

Three months to Sep 30, 2026: JNUG returned +24.0% where its own daily promise gave +25.9%, 1.9 points short.

## Key facts

- JNUG, what GDXJ did: +16.2%, as of Sep 30, 2026.
- JNUG, what 2 times a day gives: +25.9%, as of Sep 30, 2026.
- JNUG, what the fund returned: +24.0%, as of Sep 30, 2026.
- JNUG, the fund itself cost: −1.9 pts, as of Sep 30, 2026.
- JNUG, net assets: $408m (issuer page, as of Sep 30, 2026).
- JNUG, expense ratio: 1.03% (485BPOS XBRL, Feb 26, 2026).

## JNUG over each window to Sep 30, 2026

| Window | Fund | GDXJ | +2x the move | Difference | GDXJ moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −22.9% | −10.9% | −21.9% | −1.0 pts | 49% |
| 3 months | +24.0% | +16.2% | +32.4% | −8.4 pts | 54% |
| 6 months | −30.6% | −9.0% | −18.0% | −12.6 pts | 54% |
| 1 year | −7.0% | +17.6% | +35.2% | −42.2 pts | 57% |
| 3 years | +518.7% | +273.3% | not meaningful over this window | not meaningful over this window | 45% |
| Since launch | −99.6% | +240.0% | not meaningful over this window | not meaningful over this window | 47% |

## 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 | +1.48 times, against +2 stated | ETFIQ |
| Underlying | GDXJ | ETFIQ |
| Segment | asset class, metal | ETFIQ |
| Net assets | $408m | issuer page, as of Sep 30, 2026 |
| Expense ratio | 1.03% | 485BPOS XBRL, Feb 26, 2026 |
| Launched | Oct 3, 2013 | ETFIQ |
| Underlying volatility over the window | 54% annualized | ETFIQ |

## Questions

### Did JNUG return +2 times GDXJ?

Over the window to Sep 30, 2026, GDXJ moved +16.2% and JNUG returned +24.0%. 2 times that move is +32.4%, so the fund came out 8.4 points short of it.

### Why does JNUG not return +2 times over a year?

Because it resets daily. JNUG 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, JNUG, data as of Sep 30, 2026. https://etfiq.com/funds/jnug
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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