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UGLD

GradeCNew York Stock Exchange Arca

Direxion Daily Gold Bull 2X ETF

Leveraged · Leveraged & Inverse · Direxion · Inception 2026-05-27 · SEC filings

This fund multiplies its index's move each day and resets that multiple daily. Because daily returns compound, its long-run return can differ from the headline multiple.

$21.19−0.77 (−3.51%)

As of Sep 23, 2026, 2:14 PM EDT

History starts May 27, 2026.History starts May 27, 2026.History starts May 27, 2026.
Intraday session: down, 33 prints from 21.96 to 21.19. Range 21.09 to 21.45. Use the arrow keys to read each point.$21.10$21.30$21.4010 AM12 PM2 PM4 PM
Expense ratio
1.09%
Fund size
$11M
1Y return
—
Yield · Last 12 months
Data unavailable
Volume · 30D
0M sh
NAV per share
$21.87
52W range
low $18.79high $25.69

The ETF.net UGLD Grade

C

42/ 100

Rank 36 of 99 in Leveraged Long (2x & Other)⁠

Confidence Medium

Six-pillar profile for UGLD. Scores out of 100: Cost 41, Risk 44, Mission not scored, Tradability 43, Holdings not scored, Durability 42. Strongest: Risk (44). Weakest: Cost (41). Based on 4 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 42 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    CScore 41
    Category rank58/99 · mid-pack

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    CScore 44
    Category rank58/94 · mid-pack

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    CScore 43
    Category rank58/99 · mid-pack

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    CScore 42
    Category rank64/99 · mid-pack

Graded as of Sep 22, 2026 · Based on 4 of 6 pillars

Our read on UGLD

ETF.net Research

CMost leveraged gold products ride futures contracts. This one doesn't: it uses swaps on a spot gold ETP to target 200% of gold's daily move, inside a 1940 Act fund that sends a 1099 instead of a K-1.

Stated mandate

The fund seeks daily investment results, before fees and expenses, equal to 200% of gold’s price performance.

Why people hold it

  1. 01Swap exposure to a spot gold ETP rather than futures, so there are no contract rolls to manage, an ongoing chore for futures-based gold products.direxion.com
  2. 02Registered under the Investment Company Act of 1940 and reports on a standard Form 1099, not the Schedule K-1 many leveraged commodity products hand you in April.direxion.comdirexion.com
  3. 03The mandate is narrow and literal: 200% of gold's daily price performance before fees and expenses. No miners, no commodity basket, no equity tagging along.
  4. 04Fees land near the middle of the leveraged bull pack at 1.09% a year, with a contractual expense waiver from the adviser running into 2027.direxion.com

Worth knowing

  1. 01Leverage resets every day. Hold past a single session and compounding takes over, so a week's or month's result can sit well away from twice gold's move.direxion.com
  2. 02Launched in 2026 and framed by Direxion as a tool for tactical traders, so there is little long-run history to study.direxion.com
  3. 03A small fund that trades lightly next to household-name leveraged ETFs, which puts spreads and limit orders front of mind.

UGLD Holdings

As of Sep 22, 2026, 10:03 PM
Asset class
Other
Holdings
—
Top-10 weight
100%
Largest holding
GLD SWAP ASSET LEG (GLDGSL)25.5%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—GLD SWAP ASSET LEG (GLDGSL)25.51%21,353$9M1
002—GLD SWAP ASSET LEG (GLDCTL)22.98%19,240$8M1
003—DREYFUS GOVT CASH MAN INS18.42%6,141,665$6M108
004—GLD SWAP ASSET LEG (GLDBCL)13.45%11,255$4M1
005—DREYFUS TRSRY SECURITIES CASH MGMT8.77%2,923,932$3M82
006—GOLDMAN FINL SQ TRSRY INST 5064.74%1,582,074$2M100
007—GLD SWAP ASSET LEG (GLDJPL)3.58%3,000$1M1
008—GOLDMAN SACHS FIN GOV 465 INSTITUT2.55%850,000$850K75

Showing 1–8 of 8 holdings

UGLD Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

UGLD$10,397
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,415
Jun 22, 2026 to Sep 22, 2026. UGLD $10,397. SPY $10,415. Use the arrow keys to read each point.$8,695$10,489$12,284Jun 2026Aug 2026Sep 2026

Jun 22, 2026 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for UGLD. Periods over one year show the average yearly return.
PeriodUGLD
Year to dateFund launched this year—
1 month−11.8%
3 months+4.0%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for UGLD
YearReturn barUGLD
2026 YTD−9.3%

Since listing, May 27, 2026

UGLD in the news

ETF.net Research hasn’t filed on UGLD yet — coverage lands here as it’s written.

UGLD Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
Upcoming payment
$0.08 per share
Pays on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution data unavailable.

Distribution history

2026

One bar per payment. 2 payments in 2026 YTD. Jun 23, 2026 $0.05; Sep 22, 2026 $0.08. Use the arrow keys to read each point.2026YTD
Ex-datePay dateAmount per share
Sep 22, 2026Pays Sep 29, 2026$0.08
Jun 23, 2026Jun 30, 2026$0.05

UGLD Risk

This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.

How much the fund’s monthly returns vary, scaled to a year.
—
Launched May 2026; fills in after 12 months
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
—
Launched May 2026; fills in after 12 months
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
—
Launched May 2026; fills in after 12 months
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.00
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

UGLD Cost

Expense ratio1.09%
  • The middle half of Leveraged Long (2x & Other) funds
  • Median 0.99%

56 of the 93 Leveraged Long (2x & Other) funds charge less.

UGLD costs $109.00 a year on $10,000. The median Leveraged Long (2x & Other) fund costs $99.00.