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

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

Three months to Sep 30, 2026: NUGT returned +27.6% where its own daily promise gave +29.3%, 1.7 points short.

## Key facts

- NUGT, what GDX did: +17.0%, as of Sep 30, 2026.
- NUGT, what 2 times a day gives: +29.3%, as of Sep 30, 2026.
- NUGT, what the fund returned: +27.6%, as of Sep 30, 2026.
- NUGT, the fund itself cost: −1.7 pts, as of Sep 30, 2026.
- NUGT, net assets: $1.0bn (issuer page, as of Sep 30, 2026).
- NUGT, expense ratio: 1.13% (485BPOS XBRL, Feb 26, 2026).

## NUGT over each window to Sep 30, 2026

| Window | Fund | GDX | +2x the move | Difference | GDX moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −22.0% | −10.9% | −21.7% | −0.2 pts | 42% |
| 3 months | +27.6% | +17.0% | +33.9% | −6.3 pts | 48% |
| 6 months | −27.7% | −8.6% | −17.1% | −10.6 pts | 49% |
| 1 year | −3.7% | +15.7% | +31.5% | −35.1 pts | 51% |
| 3 years | +474.5% | +237.8% | not meaningful over this window | not meaningful over this window | 40% |
| Since launch | −99.8% | +67.2% | +134.3% | −234.1 pts | 39% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of GDX, reset daily | ETFIQ |
| Multiple a holder actually got over the window | +1.63 times, against +2 stated | ETFIQ |
| Underlying | GDX | ETFIQ |
| Segment | asset class, metal | ETFIQ |
| Net assets | $1.0bn | issuer page, as of Sep 30, 2026 |
| Expense ratio | 1.13% | 485BPOS XBRL, Feb 26, 2026 |
| Launched | Dec 8, 2010 | ETFIQ |
| Underlying volatility over the window | 48% annualized | ETFIQ |

## Questions

### Did NUGT return +2 times GDX?

Over the window to Sep 30, 2026, GDX moved +17.0% and NUGT returned +27.6%. 2 times that move is +33.9%, so the fund came out 6.3 points short of it.

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

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

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