Share-split context: This ETF has both forward- and reverse-split history. The most recent recorded event was on Apr 23, 2020 with coefficient 0.2. Current price-return figures are already split-adjusted. Forward splits receive no automatic performance penalty; reverse-split history remains a separate structural warning.

What this ETF is trying to do

The Direxion Daily Gold Miners Index Bull 2X Shares (NUGT) is a leveraged ETF. This means it uses financial tools to try and double the daily return of an index of gold mining companies. It is designed for people who want a more aggressive way to bet on the price of gold miners.

What the numbers show

Because this ETF has a history of share splits, we look at split-adjusted returns to see how it has performed.

• Short Term: The year-to-date (YTD) price return is -24.12%. The one-year price return is -11.06%.

• Long Term: The three-year price return is 423.65%, and the five-year total return is 223.38%.

• Total Return: Total return includes both the share price change and distributions. The one-year total return is -10.46%, and the three-year total return is 443.30%.

As of October 7, 2026, the current price is $139.50.

Income and distribution explanation

NUGT pays out cash distributions, usually every quarter. It has made 4 payouts in the last 12 months. The distribution yield is approximately 0.80%.

It is important for beginners to know that a distribution yield is not the same as a total return. A high yield does not guarantee that an investor is making money, especially if the share price is falling.

NAV erosion explanation

"NAV erosion" happens when the value of the fund's underlying assets wears away over time. This is a common risk for leveraged ETFs.

NUGT has a "mixed" split history, meaning it has had both forward splits (where one share becomes many) and reverse splits (where many shares become one). It has had 6 split events in total.

The ETF has an erosion-risk score of 75, which is labeled as "mild price erosion." This is a measurement of risk, not a guarantee of loss.

Top Holdings

As of October 8, 2026, the fund holds:

• VanEck Gold Miners ETF (GDX): 50.61%

• Goldman Sachs FS Treasury Intms Instl (FTIXX): 9.26%

Pros

• Has shown very high split-adjusted returns over a three-year period.

• Provides a way to get leveraged exposure to gold mining companies.

Cons

• Has experienced negative price returns over the last year and year-to-date.

• Carries a risk of mild price erosion.

• Leveraged ETFs can be very volatile.

Beginner takeaway

NUGT is a high-risk tool used to amplify the movement of gold mining stocks. While it has seen huge growth over three years, it has struggled recently. Income investors should remember that distributions are separate from the share price, and principal stability is not guaranteed in leveraged funds.