DRIP vs. GUSH
DRIP (Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares) and GUSH (Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares) are both Leveraged Equities funds from Direxion - DRIP tracks the S&P Oil & Gas Exploration & Production Select Industry Index (-300%) while GUSH tracks the S&P Oil & Gas Exploration & Production Select Industry Index (300%). Both are passively managed. Over the past 10 years, DRIP returned -42.00%/yr vs -37.00%/yr for GUSH. At a correlation of -0.99, they often move in opposite directions. DRIP charges 1.07%/yr vs 1.17%/yr for GUSH.
Performance
DRIP vs. GUSH - Performance Comparison
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Returns By Period
In the year-to-date period, DRIP achieves a -40.65% return, which is significantly lower than GUSH's 42.86% return. Over the past 10 years, DRIP has underperformed GUSH with an annualized return of -42.00%, while GUSH has yielded a comparatively higher -37.00% annualized return.
DRIP
- 1D
- -3.09%
- 1M
- 20.05%
- YTD
- -40.65%
- 6M
- -41.35%
- 1Y
- -37.54%
- 3Y*
- -27.03%
- 5Y*
- -38.96%
- 10Y*
- -42.00%
GUSH
- 1D
- 3.14%
- 1M
- -18.97%
- YTD
- 42.86%
- 6M
- 44.72%
- 1Y
- 22.58%
- 3Y*
- 6.96%
- 5Y*
- 7.01%
- 10Y*
- -37.00%
DRIP vs. GUSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DRIP Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares | -40.65% | -14.81% | 1.27% | -17.24% | -73.57% | -79.74% | -42.76% | -36.11% | 49.62% | -9.05% |
GUSH Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares | 42.86% | -19.39% | -12.73% | -7.23% | 66.47% | 129.94% | -97.38% | -52.68% | -74.28% | -40.21% |
Correlation
The correlation between DRIP and GUSH is -1.00, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -1.00 |
Correlation (3Y) Calculated over the trailing 3-year period | -1.00 |
Correlation (5Y) Calculated over the trailing 5-year period | -1.00 |
Correlation (10Y) Calculated over the trailing 10-year period | -1.00 |
Correlation (All Time) Calculated using the full available price history since May 29, 2015 | -0.99 |
The correlation between DRIP and GUSH has been stable across timeframes, ranging from -1.00 to -0.99 - a consistent structural relationship.
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Return for Risk
DRIP vs. GUSH — Risk / Return Rank
DRIP
GUSH
DRIP vs. GUSH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP) 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| DRIP | GUSH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.06 | ||
| Sortino ratioReturn per unit of downside risk | -1.69 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 1.11 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | -0.61 | 0.63 | -1.23 |
| Martin ratioReturn relative to average drawdown | -1.12 | 1.67 | -2.78 |
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Drawdowns
DRIP vs. GUSH - Drawdown Comparison
The maximum DRIP drawdown since its inception was -99.95%, roughly equal to the maximum GUSH drawdown of -99.98%. Use the drawdown chart below to compare losses from any high point for DRIP and GUSH.
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Drawdown Indicators
| DRIP | GUSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.95% | -99.98% | +0.03% |
Max Drawdown (1Y)Largest decline over 1 year | -62.18% | -36.18% | -26.00% |
Max Drawdown (3Y)Largest decline over 3 years | -76.02% | -63.59% | -12.43% |
Max Drawdown (5Y)Largest decline over 5 years | -96.24% | -73.64% | -22.60% |
Max Drawdown (10Y)Largest decline over 10 years | -99.92% | -99.94% | +0.02% |
Current DrawdownCurrent decline from peak | -99.93% | -99.83% | -0.10% |
Average DrawdownAverage peak-to-trough decline | -90.46% | -92.91% | +2.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.61% | 13.92% | +19.69% |
Volatility
DRIP vs. GUSH - Volatility Comparison
Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP) and Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares (GUSH) have volatilities of 18.24% and 18.38%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DRIP | GUSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.24% | 18.38% | -0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 43.95% | 44.33% | -0.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 56.86% | 56.70% | +0.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 68.37% | 68.20% | +0.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 96.46% | 93.57% | +2.89% |
DRIP vs. GUSH - Expense Ratio Comparison
DRIP has a 1.07% expense ratio, which is lower than GUSH's 1.17% expense ratio.
Dividends
DRIP vs. GUSH - Dividend Comparison
DRIP's dividend yield for the trailing twelve months is around 3.33%, more than GUSH's 1.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
DRIP Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares | 3.33% | 2.86% | 4.38% | 5.09% | 0.00% | 0.00% | 0.01% | 0.96% | 0.58% | 0.00% | 0.00% |
GUSH Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares | 1.75% | 2.60% | 2.96% | 3.00% | 0.47% | 0.00% | 0.20% | 1.68% | 0.17% | 0.00% | 3.26% |
Frequently Asked Questions
DRIP and GUSH have a correlation of -1.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GUSH has higher volatility (18.38%) compared to DRIP (18.24%). In terms of maximum drawdown, DRIP dropped -99.95% vs GUSH's -99.98%.
On 10-year performance, GUSH leads with -37.00% vs -42.00% for DRIP. On fees, DRIP is cheaper at 1.07% per year. On volatility, DRIP has been the lower-risk option at 18.24%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, GUSH has performed better with a -37.00% return vs -42.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DRIP is cheaper with a 1.07% expense ratio, compared with 1.17% for GUSH.
DRIP has the higher dividend yield at 3.33%, compared with 1.75% for GUSH.
DRIP tracks S&P Oil & Gas Exploration & Production Select Industry Index (-300%), while GUSH tracks S&P Oil & Gas Exploration & Production Select Industry Index (300%). Their fees differ too: 1.07% for DRIP and 1.17% for GUSH.
GUSH currently has the higher Sharpe Ratio (0.40 vs -0.66), 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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