NUGT vs SPY
Direxion Daily Gold Miners Index Bull 2X ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. NUGT delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | NUGT | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 1.13% | 0.09% | |
| AUM | $1.1B | $821.1B | |
| Dividend Yield | 0.65% | 1.01% | |
| Holdings | 10 | 505 | |
| YTD Return | +6.97% | +12.22% | |
| 1Y Return | +115.77% | +20.83% | |
| 3Y Return (annualized) | +91.53% | +21.70% | |
| 5Y Return (annualized) | +34.07% | +12.98% | |
| Volatility (annualized) | 97.8% | 15.3% | |
| Max Drawdown | -100.0% | -56.5% | |
| Fund Family | Direxion Shares ETF Trust | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Dec 8, 2010 | Jan 22, 1993 |
NUGT vs SPY Performance
Direxion Daily Gold Miners Index Bull 2X ETF (NUGT) is a ETF from Direxion Shares ETF Trust and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year NUGT returned +115.77% while SPY returned +20.83%. Year to date, NUGT is up 6.97% versus a gain of 12.22% for SPY.
Over three years, NUGT compounded at +91.53% per year against +21.70% for SPY; over five years the annualized figures are +34.07% and +12.98% respectively. Across the full 16-year window we track, SPY has the edge at +8.79% annualized vs -31.45%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
NUGT has been the more volatile fund, with annualized monthly volatility of 97.8% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -100.0% for NUGT and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.20. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
NUGT charges 1.13% per year while SPY charges 0.09%. On a $10,000 position that is $113 vs $9 annually, a gap of $104 per year that compounds over a long holding period. On income, NUGT currently yields 0.65% against 1.01% for SPY.
Holdings Overlap
NUGT and SPY share 0 holdings out of 508 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, NUGT or SPY?
NUGT has an expense ratio of 1.13% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $104 per year of difference.
Which performed better, NUGT or SPY?
Over the past year NUGT returned +115.77% vs +20.83% for SPY, so NUGT leads on 1-year performance. Over the longest common window we track (16 years), NUGT annualized -31.45% vs +8.79% for SPY. Past performance does not guarantee future results.
Which is riskier, NUGT or SPY?
NUGT has been the more volatile fund at 97.8% annualized versus 15.3% for SPY. Worst drawdown: NUGT -100.0% vs SPY -56.5%.
Should I hold both NUGT and SPY?
NUGT and SPY have a monthly-return correlation of 0.20, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between NUGT and SPY?
NUGT and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 508 unique securities.
Which pays a higher dividend, NUGT or SPY?
NUGT yields 0.65% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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