CARU vs. GUSH
CARU (Max Auto Industry 3X Leveraged ETN) and GUSH (Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares) are both Leveraged Equities funds - CARU tracks the Prime Auto Industry Index - Benchmark TR Net (--300%) while GUSH tracks the S&P Oil & Gas Exploration & Production Select Industry Index (300%). Both are passively managed. Over the past year, CARU returned -12.69% vs 84.57% for GUSH. At a 0.25 correlation, their price movements are largely independent. CARU charges 0.95%/yr vs 1.17%/yr for GUSH.
Performance
CARU vs. GUSH - Performance Comparison
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Returns By Period
In the year-to-date period, CARU achieves a -22.32% return, which is significantly lower than GUSH's 73.60% return.
CARU
- 1D
- 0.92%
- 1M
- 7.84%
- YTD
- -22.32%
- 6M
- -27.15%
- 1Y
- -12.69%
- 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%
CARU vs. GUSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
CARU Max Auto Industry 3X Leveraged ETN | -22.32% | 7.29% | 23.44% | -12.17% |
GUSH Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares | 73.60% | -19.39% | -12.73% | 14.29% |
Correlation
The correlation between CARU and GUSH is -0.05, 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 | -0.05 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2023 | 0.25 |
The correlation between CARU and GUSH shifts across timeframes, from -0.05 (1 year) to 0.25 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CARU vs. GUSH — Risk / Return Rank
CARU
GUSH
CARU vs. GUSH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Max Auto Industry 3X Leveraged ETN (CARU) 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.
| CARU | GUSH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.72 | ||
| Sortino ratioReturn per unit of downside risk | -1.77 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.25 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | -0.25 | 2.94 | -3.19 |
| Martin ratioReturn relative to average drawdown | -0.53 | 6.75 | -7.27 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CARU | GUSH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.19 | 1.54 | -1.72 |
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 | -0.04 | -0.44 | +0.39 |
Drawdowns
CARU vs. GUSH - Drawdown Comparison
The maximum CARU drawdown since its inception was -66.44%, smaller than the maximum GUSH drawdown of -99.98%. Use the drawdown chart below to compare losses from any high point for CARU and GUSH.
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Drawdown Indicators
| CARU | GUSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.44% | -99.98% | +33.54% |
Max Drawdown (1Y)Largest decline over 1 year | -50.87% | -28.94% | -21.93% |
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 DrawdownCurrent decline from peak | -38.66% | -99.79% | +61.13% |
Average DrawdownAverage peak-to-trough decline | -35.91% | -92.92% | +57.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.09% | 12.58% | +11.51% |
Volatility
CARU vs. GUSH - Volatility Comparison
Max Auto Industry 3X Leveraged ETN (CARU) has a higher volatility of 22.69% compared to Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares (GUSH) at 20.18%. This indicates that CARU'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.
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Volatility by Period
| CARU | GUSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.69% | 20.18% | +2.51% |
Volatility (6M)Calculated over the trailing 6-month period | 50.06% | 43.32% | +6.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 68.54% | 55.49% | +13.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 80.22% | 68.21% | +12.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 80.22% | 93.70% | -13.48% |
CARU vs. GUSH - Expense Ratio Comparison
CARU has a 0.95% expense ratio, which is lower than GUSH's 1.17% expense ratio.
Dividends
CARU vs. GUSH - Dividend Comparison
CARU has not paid dividends to shareholders, while GUSH's dividend yield for the trailing twelve months is around 1.44%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
CARU Max Auto Industry 3X Leveraged ETN | 0.00% | 0.00% | 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
CARU and GUSH have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CARU has higher volatility (22.69%) compared to GUSH (20.18%). In terms of maximum drawdown, CARU dropped -66.44% vs GUSH's -99.98%.
On 1-year performance, GUSH leads with 84.57% vs -12.69% for CARU. On fees, CARU is cheaper at 0.95% 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.
Over the 1-year period, GUSH has performed better with a 84.57% return vs -12.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CARU is cheaper with a 0.95% expense ratio, compared with 1.17% for GUSH.
GUSH has the higher dividend yield at 1.44%, compared with 0.00% for CARU.
CARU tracks Prime Auto Industry Index - Benchmark TR Net (--300%), while GUSH tracks S&P Oil & Gas Exploration & Production Select Industry Index (300%). They also come from different issuers: Max and Direxion. Their fees differ too: 0.95% for CARU and 1.17% for GUSH.
GUSH currently has the higher Sharpe Ratio (1.54 vs -0.19), 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.
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