APPX vs. GUSH

Last updated Jun 5, 2026

APPX (Tradr 2X Long APP Daily ETF) and GUSH (Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares) are both Leveraged Equities funds. APPX is actively managed, while GUSH is passively managed. Over the past year, APPX returned -6.08% vs 84.57% for GUSH. At a correlation of -0.01, they often move in opposite directions. APPX charges 1.30%/yr vs 1.17%/yr for GUSH.

Performance

APPX vs. GUSH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tradr 2X Long APP Daily ETF (APPX) and Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares (GUSH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, APPX achieves a -53.50% return, which is significantly lower than GUSH's 73.60% return.

APPX

• 1D: -3.79%
• 1M: 30.52%
• YTD: -53.50%
• 6M: -55.75%
• 1Y: -6.08%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GUSH

• 1D: 0.03%
• 1M: -11.53%
• YTD: 73.60%
• 6M: 49.22%
• 1Y: 84.57%
• 3Y*: 14.08%
• 5Y*: 11.55%
• 10Y*: -36.93%

*Multi-year figures are annualized to reflect compound growth (CAGR)

APPX vs. GUSH - Yearly Performance Comparison

	2026 (YTD)	2025
APPX Tradr 2X Long APP Daily ETF	-53.50%	329.60%
GUSH Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares	73.60%	18.78%

Correlation

The correlation between APPX and GUSH is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.07
Correlation (All Time) Calculated using the full available price history since Apr 28, 2025	-0.01

Return for Risk

APPX vs. GUSH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

APPX

APPX Risk / Return Rank: 13
APPX Sharpe Ratio Rank: 9
APPX Sortino Ratio Rank: 19
APPX Omega Ratio Rank: 21
APPX Calmar Ratio Rank: 8
APPX Martin Ratio Rank: 9

GUSH

GUSH Risk / Return Rank: 45
GUSH Sharpe Ratio Rank: 45
GUSH Sortino Ratio Rank: 39
GUSH Omega Ratio Rank: 39
GUSH Calmar Ratio Rank: 60
GUSH Martin Ratio Rank: 43

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

APPX vs. GUSH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tradr 2X Long APP Daily ETF (APPX) and Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares (GUSH). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	APPX	GUSH	Difference
Sharpe ratio: Return per unit of total volatility	-0.04	1.54	-1.58
Sortino ratio: Return per unit of downside risk	0.96	1.98	-1.01
Omega ratio: Gain probability vs. loss probability	1.13	1.25	-0.12
Calmar ratio: Return relative to maximum drawdown	-0.07	2.94	-3.01
Martin ratio: Return relative to average drawdown	-0.12	6.75	-6.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

APPX vs. GUSH - Sharpe Ratio Comparison

The current APPX Sharpe Ratio is -0.04, which is lower than the GUSH Sharpe Ratio of 1.54. The chart below compares the historical Sharpe Ratios of APPX and GUSH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	APPX	GUSH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.04	1.54	-1.58
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.17	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.40	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.62	-0.44	+1.06

Drawdowns

APPX vs. GUSH - Drawdown Comparison

The maximum APPX drawdown since its inception was -82.40%, smaller than the maximum GUSH drawdown of -99.98%. Use the drawdown chart below to compare losses from any high point for APPX and GUSH.

Drawdown Indicators

	APPX	GUSH	Difference
Max Drawdown Largest peak-to-trough decline	-82.40%	-99.98%	+17.58%
Max Drawdown (1Y) Largest decline over 1 year	-82.40%	-28.94%	-53.46%
Max Drawdown (3Y) Largest decline over 3 years	—	-63.59%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-73.64%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-99.94%	—
Current Drawdown Current decline from peak	-63.84%	-99.79%	+35.95%
Average Drawdown Average peak-to-trough decline	-37.32%	-92.92%	+55.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	48.83%	12.58%	+36.25%

Volatility

APPX vs. GUSH - Volatility Comparison

Tradr 2X Long APP Daily ETF (APPX) has a higher volatility of 41.73% compared to Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares (GUSH) at 20.18%. This indicates that APPX's price experiences larger fluctuations and is considered to be riskier than GUSH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	APPX	GUSH	Difference
Volatility (1M) Calculated over the trailing 1-month period	41.73%	20.18%	+21.55%
Volatility (6M) Calculated over the trailing 6-month period	121.72%	43.32%	+78.40%
Volatility (1Y) Calculated over the trailing 1-year period	141.05%	55.49%	+85.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	140.44%	68.21%	+72.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	140.44%	93.70%	+46.74%

APPX vs. GUSH - Expense Ratio Comparison

APPX has a 1.30% expense ratio, which is higher than GUSH's 1.17% expense ratio.

Dividends

APPX vs. GUSH - Dividend Comparison

APPX's dividend yield for the trailing twelve months is around 20.17%, more than GUSH's 1.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
APPX Tradr 2X Long APP Daily ETF	20.17%	9.38%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
GUSH Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares	1.44%	2.60%	2.96%	3.00%	0.47%	0.00%	0.20%	1.68%	0.17%	0.00%	3.26%

Frequently Asked Questions

Can I hold both APPX and GUSH in my portfolio?

APPX and GUSH have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, APPX or GUSH?

APPX has higher volatility (41.73%) compared to GUSH (20.18%). In terms of maximum drawdown, APPX dropped -82.40% vs GUSH's -99.98%.

Which ETF is better, APPX or GUSH?

On 1-year performance, GUSH leads with 84.57% vs -6.08% for APPX. On fees, GUSH is cheaper at 1.17% per year. On volatility, GUSH has been the lower-risk option at 20.18%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, APPX or GUSH?

Over the 1-year period, GUSH has performed better with a 84.57% return vs -6.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, APPX or GUSH?

GUSH is cheaper with a 1.17% expense ratio, compared with 1.30% for APPX.

Which ETF pays a higher dividend yield, APPX or GUSH?

APPX has the higher dividend yield at 20.17%, compared with 1.44% for GUSH.

What is the main difference between APPX and GUSH?

They also come from different issuers: Tradr and Direxion. Their fees differ too: 1.30% for APPX and 1.17% for GUSH.

Which has better risk-adjusted returns?

GUSH currently has the higher Sharpe Ratio (1.54 vs -0.04), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.