EFU vs. GUSH
EFU (ProShares UltraShort MSCI EAFE) and GUSH (Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares) are both Leveraged Equities funds - EFU tracks the MSCI EAFE Index (-200%) while GUSH tracks the S&P Oil & Gas Exploration & Production Select Industry Index (300%). Both are passively managed. Over the past 10 years, EFU returned -19.65%/yr vs -35.47%/yr for GUSH. Their -0.40 correlation means they have often moved in opposite directions in the past. EFU charges 0.95%/yr vs 1.17%/yr for GUSH.
Performance
EFU vs. GUSH - Performance Comparison
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Returns By Period
In the year-to-date period, EFU achieves a -21.36% return, which is significantly lower than GUSH's 78.07% return. Over the past 10 years, EFU has outperformed GUSH with an annualized return of -19.65%, while GUSH has yielded a comparatively lower -35.47% annualized return.
EFU
- 1D
- -0.66%
- 1M
- -3.30%
- 6M
- -12.53%
- YTD
- -21.36%
- 1Y
- -35.56%
- 3Y*
- -25.18%
- 5Y*
- -16.16%
- 10Y*
- -19.65%
- ALL TIME*
- -19.09%
GUSH
- 1D
- -3.36%
- 1M
- 25.39%
- 6M
- 55.55%
- YTD
- 78.07%
- 1Y
- 81.50%
- 3Y*
- 3.21%
- 5Y*
- 21.93%
- 10Y*
- -35.47%
- ALL TIME*
- -42.06%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $26.57K | $37.75K | $56.26K | |
| $35.17M | $33.48M | $31.85M |
EFU vs. GUSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EFU ProShares UltraShort MSCI EAFE | -21.36% | -41.07% | -1.04% | -25.36% | 24.26% | -24.58% | -35.54% | -32.71% | 32.32% | -36.87% |
GUSH Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares | 78.07% | -19.39% | -12.73% | -7.23% | 66.47% | 129.94% | -97.38% | -52.68% | -74.28% | -40.21% |
Correlation
The correlation between EFU and GUSH is 0.16, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.16 |
Correlation (3Y) Balances recent behavior with more history. | -0.12 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.29 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.37 |
Correlation (All Time) Calculated using the full available price history since May 29, 2015 | -0.40 |
The correlation between EFU and GUSH shifts across timeframes, from -0.40 (all time) to 0.16 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
EFU vs. GUSH — Risk / Return Rank
EFU
GUSH
EFU vs. GUSH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort MSCI EAFE (EFU) 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.
| EFU | GUSH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.55 | ||
| Sortino ratioReturn per unit of downside risk | -3.52 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 1.24 | -0.42 |
| Calmar ratioReturn relative to maximum drawdown | -1.04 | 2.26 | -3.31 |
| Martin ratioReturn relative to average drawdown | -1.67 | 5.11 | -6.78 |
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Drawdowns
EFU vs. GUSH - Drawdown Comparison
The maximum EFU drawdown since its inception was -99.39%, roughly equal to the maximum GUSH drawdown of -99.98%. Use the drawdown chart below to compare losses from any high point for EFU and GUSH.
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Drawdown Indicators
| EFU | GUSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.39% | -99.98% | +0.59% |
Max Drawdown (1Y)Largest decline over 1 year | -34.17% | -36.18% | +2.01% |
Max Drawdown (3Y)Largest decline over 3 years | -65.69% | -63.59% | -2.10% |
Max Drawdown (5Y)Largest decline over 5 years | -76.39% | -73.64% | -2.75% |
Max Drawdown (10Y)Largest decline over 10 years | -89.39% | -99.94% | +10.55% |
Current DrawdownCurrent decline from peak | -99.39% | -99.78% | +0.39% |
Average DrawdownAverage peak-to-trough decline | -87.22% | -92.98% | +5.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.06% | 15.99% | +7.07% |
Volatility
EFU vs. GUSH - Volatility Comparison
The current volatility for ProShares UltraShort MSCI EAFE (EFU) is 9.16%, while Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares (GUSH) has a volatility of 17.07%. This indicates that EFU experiences smaller price fluctuations and is considered to be less risky 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
| EFU | GUSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.16% | 17.07% | -7.91% |
Volatility (6M)Calculated over the trailing 6-month period | 28.75% | 45.28% | -16.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.55% | 56.62% | -24.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.67% | 67.48% | -33.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.62% | 92.80% | -59.18% |
EFU vs. GUSH - Expense Ratio Comparison
EFU has a 0.95% expense ratio, which is lower than GUSH's 1.17% expense ratio.
Dividends
EFU vs. GUSH - Dividend Comparison
EFU's dividend yield for the trailing twelve months is around 5.21%, more than GUSH's 1.22% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
EFU ProShares UltraShort MSCI EAFE | 5.21% | 5.57% | 3.87% | 6.41% | 1.47% | 0.00% | 0.06% | 0.95% | 0.17% | 0.00% | 0.00% |
GUSH Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares | 1.22% | 2.60% | 2.96% | 3.00% | 0.47% | 0.00% | 0.20% | 1.68% | 0.17% | 0.00% | 3.26% |
Frequently Asked Questions
EFU and GUSH have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GUSH has higher volatility (17.07%) compared to EFU (9.16%). In terms of maximum drawdown, EFU dropped -99.39% vs GUSH's -99.98%.
On 10-year performance, EFU leads with -19.65% vs -35.47% for GUSH. On fees, EFU is cheaper at 0.95% per year. On volatility, EFU has been the lower-risk option at 9.16%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, EFU has performed better with a -19.65% return vs -35.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EFU is cheaper with a 0.95% expense ratio, compared with 1.17% for GUSH.
EFU has the higher dividend yield at 5.21%, compared with 1.22% for GUSH.
EFU tracks MSCI EAFE Index (-200%), while GUSH tracks S&P Oil & Gas Exploration & Production Select Industry Index (300%). They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for EFU and 1.17% for GUSH.
GUSH currently has the higher Sharpe Ratio (1.45 vs -1.10), 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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