NUGT vs SPXX
Direxion Daily Gold Miners Index Bull 2X ETF vs Nuveen S&P 500 Dynamic Overwrite Fund
Which is better, NUGT or SPXX?
Each has led over a different period.
SPXX has a lower expense ratio. NUGT led over 3Y and 5Y, SPXX over 1Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | NUGT | SPXX |
|---|---|---|
| Expense Ratio | 1.13% | 0.91%Best |
| AUM | $993M | $2.8B |
| Dividend Yield | 0.75% | 7.40% |
| Holdings | 20 | 553 |
| YTD Return | -27.70% | +10.40%Best |
| 1Y Return | -17.67% | +18.86%Best |
| 3Y Return (annualized) | +64.31%Best | +17.05% |
| 5Y Return (annualized) | +21.20%Best | +9.18% |
| Volatility (annualized) | 97.3% | 15.1%Best |
| Max Drawdown | - | -51.1% |
| $10,000 over 5 years | $26,152Best | $15,514 |
| Fund Family | Direxion Shares ETF Trust | Nuveen |
| Category | Alternative | Alternative |
| Style | Multi Alternative | Multi Alternative |
| Inception | Dec 8, 2010 | Nov 22, 2005 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Dec 8, 2010 to Oct 14, 2026 (15.8 years).
NUGT vs SPXX growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 15.8 years both funds cover.
NUGT vs SPXX Performance
Direxion Daily Gold Miners Index Bull 2X ETF (NUGT) is an ETF from Direxion Shares ETF Trust and Nuveen S&P 500 Dynamic Overwrite Fund (SPXX) is an ETF from Nuveen. Over the past year NUGT returned -17.67% while SPXX returned +18.86%. Year to date, NUGT is down 27.70% versus a gain of 10.40% for SPXX.
Over three years, NUGT compounded at +64.31% per year against +17.05% for SPXX; over five years the annualized figures are +21.20% and +9.18% respectively. Across the full 16-year window we track, SPXX has the edge at +4.46% annualized vs -32.88%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
NUGT has been the more volatile fund, with annualized monthly volatility of 97.3% compared with 15.1% for SPXX. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The two funds' monthly returns correlate at 0.20. They move largely independently of each other.
Fees and Cost Over Time
NUGT charges 1.13% per year while SPXX charges 0.91%. On a $10,000 position that is $113 vs $91 annually, a gap of $22 per year that compounds over a long holding period. On income, NUGT currently yields 0.75% against 7.40% for SPXX.
Holdings Overlap
We hold position weights for 4 holdings in NUGT and 546 in SPXX, totalling 41.7% and 100.0% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
The two holdings books were reported 62 days apart, NUGT as of Oct 1, 2026 and SPXX as of Jul 31, 2026, so some of the difference between them is the time between the two reports rather than the funds.
0 positions in common, counted across the 4 positions we hold weights for in NUGT and 546 in SPXX, against full books of 20 and 553.
You are not choosing between two funds in isolation.
Whichever of NUGT and SPXX you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, NUGT or SPXX?
NUGT has an expense ratio of 1.13% while SPXX charges 0.91%. SPXX is the cheaper option, by $22 a year on a $10,000 investment.
Which performed better, NUGT or SPXX?
Over the past year NUGT returned -17.67% vs +18.86% for SPXX, so SPXX leads on 1-year performance. Over the longest common window we track (16 years), NUGT annualized -32.88% vs +4.46% for SPXX. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, NUGT or SPXX?
NUGT has been the more volatile fund at 97.3% annualized versus 15.1% for SPXX.
Should I hold both NUGT and SPXX?
NUGT and SPXX have a monthly-return correlation of 0.20, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, NUGT or SPXX?
NUGT yields 0.75% while SPXX yields 7.40%, so SPXX currently pays the higher dividend yield.
Is SPXX better than NUGT?
SPXX has a lower expense ratio. NUGT led over 3Y and 5Y, SPXX over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.