Daily Gold Miners Index Bear 2X ETF (DUST) Performance
DUST total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −35.6% since Dec 31, 2025
- 1 year
- −56.2% total return
- 5 years
- −51.0% a year
- 10 years
- −52.5% a year
- Since first price
- −46.6% a year since 2010
DUST trailing returns vs SPY, QQQ, AGG
| Period | DUST total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +32.1% | +32.1% | −1.0% | −5.0% | +0.9% |
| 3 months | −24.8% | −25.4% | +3.2% | +1.9% | −0.4% |
| 6 months | −4.0% | −5.4% | +7.8% | +8.4% | −1.5% |
| YTD | −35.6% | −37.3% | +12.3% | +15.1% | −1.0% |
| 1 year | −56.2% | −57.7% | +14.4% | +15.9% | −1.1% |
| 3 years | −95.8%−65.1%/yr | −96.2% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | −97.2%−51.0%/yr | −97.6% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | −99.9%−52.5%/yr | −99.95% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | −100.00%−48.6%/yr | −99.99% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| Since inceptionDec 8, 2010 | −100.00%−46.6%/yr | −100.00% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: DUST vs SPY
From Dec 8, 2010: DUST grew to $0, SPY to $81,640.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
DUST returns by calendar year
0 of 15 full years positive. Best 2011 (0.0%), worst 2016 (−89.8%). 2026 is year to date.
DUST annual returns table
| Year | DUST | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −35.6% | −60.4% | +12.3% | +15.1% | −1.0% |
| 2025 | −88.7% | −89.5% | +17.7% | +20.8% | +7.2% |
| 2024 | −29.5% | −68.9% | +24.9% | +25.6% | +1.3% |
| 2023 | −27.6% | −46.3% | +26.2% | +54.9% | +5.7% |
| 2022 | −22.7% | −54.9% | −18.2% | −32.6% | −13.0% |
| 2021 | −4.8% | −42.9% | +28.7% | +27.4% | −1.8% |
| 2020 | −85.8% | −95.4% | +18.3% | +48.6% | +7.5% |
| 2019 | −75.1% | −78.1% | +31.2% | +39.0% | +8.5% |
| 2018 | −3.3% | −50.6% | −4.6% | −0.1% | +0.1% |
| 2017 | −51.0% | −54.9% | +21.7% | +32.7% | +3.6% |
| 2016 | −89.8% | −94.9% | +12.0% | +7.1% | +2.4% |
| 2015 | 0.0% | 0.0% | +1.2% | +9.4% | +0.5% |
| 2014 | 0.0% | 0.0% | +13.5% | +19.2% | +6.0% |
| 2013 | 0.0% | 0.0% | +32.3% | +36.6% | −2.0% |
| 2012 | 0.0% | 0.0% | +16.0% | +18.1% | +3.8% |
| 2011 | 0.0% | 0.0% | +1.9% | +3.4% | +7.7% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
DUST largest drawdowns
Now 100.00% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 3, 2016 | −100.00% | Aug 25, 2026 | not yet | 10.6 years | 10.7 years so far |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
DUST risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2010 |
|---|---|---|---|---|
| Annualized return | −68.8% | −54.7% | −52.7% | −47.4% |
| Volatility (annualized) | 70.2% | 68.7% | 71.0% | 64.9% |
| Sharpe ratio | -1.28 | -0.80 | -0.66 | -0.61 |
| Sortino ratio | -1.43 | -0.97 | -0.82 | -0.75 |
| Best month | +45.8% | +45.8% | +45.8% | +62.0% |
| Worst month | −47.8% | −47.8% | −57.4% | −59.1% |
| Best 12 months | −29.5% | +14.9% | +87.7% | +87.7% |
| Worst 12 months | −92.5% | −92.5% | −93.9% | −94.5% |
| Positive months | 31% | 37% | 39% | 26% |
| Beta vs S&P 500 | -0.71 | -1.37 | -0.73 | — |
| Correlation with S&P 500 | -0.13 | -0.31 | -0.16 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
DUST rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 179 | −94.5% | −27.5% | +87.7% | 10% |
| 3-year (a year) | 155 | −72.6% | −53.7% | 0.0% | 0% |
| 5-year (a year) | 131 | −72.9% | −50.1% | 0.0% | 0% |
| 10-year (a year) | 71 | −62.4% | −50.1% | −45.6% | 0% |
Every holding period starting at a month-end since 2010. Returns for 3 years and longer are annualized.
DUST performance overview
Daily Gold Miners Index Bear 2X ETF (DUST) returned −56.2% over the past year and −52.5% a year over ten years, with distributions reinvested. Since its first recorded price in 2010 it has returned −46.6% a year, turning $10,000 into about $0. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −100.00%, from Feb 3, 2016 to Aug 25, 2026; the fund has not yet regained that high. DUST finished 0 of its 15 full calendar years with a gain; the best year was 2011 (0.0%) and the worst 2016 (−89.8%). Volatility has been 64.9% a year.
Related: DUST chart, DUST dividends. See the DUST overview for the latest quote and fund facts.
DUST performance FAQ
What is the DUST return over the past year?
DUST returned −56.2% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 57.7%.
What is the average annual return of DUST?
DUST has returned −51.0% a year over 5 years, −52.5% a year over 10 years, −46.6% a year since December 8, 2010 (total return, distributions reinvested).
How much would $10,000 invested in DUST be worth?
$10,000 invested in DUST at its first recorded close on December 8, 2010 would be worth about $0 on October 23, 2026 with distributions reinvested.
What was the worst year for DUST?
The worst calendar year was 2016, with a total return of −89.8%. The best was 2011 at 0.0%.
What is the biggest drawdown of DUST?
The largest peak-to-trough decline was −100.00% between February 3, 2016 and August 25, 2026. It has not yet recovered to that high; it is 100.00% below its peak.
How volatile is DUST?
Over the past 3 years DUST had an annualized volatility of 70.2% and a Sharpe ratio of -1.28 (excess return over 1–3 month T-bills per unit of risk).