EIPX vs. GUSH

Last updated Jun 24, 2026

EIPX (FT Energy Income Partners Strategy ETF) and GUSH (Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares) are both exchange-traded funds - EIPX is a Energy Equities fund actively managed by First Trust, while GUSH is a Leveraged Equities fund tracking the S&P Oil & Gas Exploration & Production Select Industry Index (300%). EIPX is actively managed, while GUSH is passively managed. Over the past 3 years, EIPX returned 21.25%/yr vs 6.88%/yr for GUSH. Their correlation of 0.82 suggests significant overlap in exposure. EIPX charges 0.95%/yr vs 1.17%/yr for GUSH.

Performance

EIPX vs. GUSH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Energy Income Partners Strategy ETF (EIPX) 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, EIPX achieves a 20.93% return, which is significantly lower than GUSH's 42.54% return.

EIPX

• 1D: 1.02%
• 1M: -3.17%
• YTD: 20.93%
• 6M: 20.98%
• 1Y: 27.12%
• 3Y*: 21.25%
• 5Y*: —
• 10Y*: —

GUSH

• 1D: -0.22%
• 1M: -19.15%
• YTD: 42.54%
• 6M: 41.51%
• 1Y: 31.85%
• 3Y*: 6.88%
• 5Y*: 6.25%
• 10Y*: -37.01%

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

EIPX vs. GUSH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
EIPX FT Energy Income Partners Strategy ETF	20.93%	11.44%	19.11%	10.74%	1.77%
GUSH Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares	42.54%	-19.39%	-12.73%	-7.23%	-19.08%

Correlation

The correlation between EIPX and GUSH is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (All Time) Calculated using the full available price history since Nov 3, 2022	0.82

The correlation between EIPX and GUSH has been stable across timeframes, ranging from 0.74 to 0.82 - a consistent structural relationship.

EIPX vs. GUSH - Sectors Allocation Comparison

Sectors	EIPX	GUSH
Energy	68.4%	96.8%
Utilities	26.4%	-
Industrials	4.8%	-
Technology	0.3%	-
Basic Materials	-	3.2%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-

Return for Risk

EIPX vs. GUSH — Risk / Return Rank

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

EIPX

EIPX Risk / Return Rank: 83
EIPX Sharpe Ratio Rank: 83
EIPX Sortino Ratio Rank: 84
EIPX Omega Ratio Rank: 76
EIPX Calmar Ratio Rank: 90
EIPX Martin Ratio Rank: 84

GUSH

GUSH Risk / Return Rank: 20
GUSH Sharpe Ratio Rank: 18
GUSH Sortino Ratio Rank: 20
GUSH Omega Ratio Rank: 20
GUSH Calmar Ratio Rank: 21
GUSH Martin Ratio Rank: 20

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.

EIPX vs. GUSH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Energy Income Partners Strategy ETF (EIPX) 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.

	EIPX	GUSH	Difference
Sharpe ratio: Return per unit of total volatility	2.45	0.57	+1.88
Sortino ratio: Return per unit of downside risk	3.49	1.08	+2.41
Omega ratio: Gain probability vs. loss probability	1.41	1.13	+0.28
Calmar ratio: Return relative to maximum drawdown	5.27	0.88	+4.39
Martin ratio: Return relative to average drawdown	16.25	2.32	+13.93

EIPX vs. GUSH - Sharpe Ratio Comparison

The current EIPX Sharpe Ratio is 2.45, which is higher than the GUSH Sharpe Ratio of 0.57. The chart below compares the historical Sharpe Ratios of EIPX 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.

Drawdowns

EIPX vs. GUSH - Drawdown Comparison

The maximum EIPX drawdown since its inception was -15.43%, smaller than the maximum GUSH drawdown of -99.98%. Use the drawdown chart below to compare losses from any high point for EIPX and GUSH.

Drawdown Indicators

	EIPX	GUSH	Difference
Max Drawdown Largest peak-to-trough decline	-15.43%	-99.98%	+84.55%
Max Drawdown (1Y) Largest decline over 1 year	-5.17%	-36.18%	+31.01%
Max Drawdown (3Y) Largest decline over 3 years	-15.43%	-63.59%	+48.16%
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	-3.41%	-99.83%	+96.42%
Average Drawdown Average peak-to-trough decline	-2.29%	-92.92%	+90.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.67%	13.77%	-12.10%

Volatility

EIPX vs. GUSH - Volatility Comparison

The current volatility for FT Energy Income Partners Strategy ETF (EIPX) is 3.61%, while Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares (GUSH) has a volatility of 18.01%. This indicates that EIPX 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.

Volatility by Period

	EIPX	GUSH	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.61%	18.01%	-14.40%
Volatility (6M) Calculated over the trailing 6-month period	8.44%	44.07%	-35.63%
Volatility (1Y) Calculated over the trailing 1-year period	11.17%	56.58%	-45.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.02%	68.20%	-53.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.02%	93.43%	-78.41%

EIPX vs. GUSH - Expense Ratio Comparison

EIPX has a 0.95% expense ratio, which is lower than GUSH's 1.17% expense ratio.

Dividends

EIPX vs. GUSH - Dividend Comparison

EIPX's dividend yield for the trailing twelve months is around 2.70%, more than GUSH's 1.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
EIPX FT Energy Income Partners Strategy ETF	2.70%	3.23%	3.27%	3.48%	0.34%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
GUSH Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares	1.75%	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 EIPX and GUSH in my portfolio?

EIPX and GUSH have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EIPX or GUSH?

GUSH has higher volatility (18.01%) compared to EIPX (3.61%). In terms of maximum drawdown, EIPX dropped -15.43% vs GUSH's -99.98%.

Which ETF is better, EIPX or GUSH?

On 3-year performance, EIPX leads with 21.25% vs 6.88% for GUSH. On fees, EIPX is cheaper at 0.95% per year. On volatility, EIPX has been the lower-risk option at 3.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EIPX or GUSH?

Over the 3-year period, EIPX has performed better with a 21.25% return vs 6.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EIPX or GUSH?

EIPX is cheaper with a 0.95% expense ratio, compared with 1.17% for GUSH.

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

EIPX has the higher dividend yield at 2.70%, compared with 1.75% for GUSH.

What is the main difference between EIPX and GUSH?

EIPX is categorized as Energy Equities, while GUSH is Leveraged Equities. They also come from different issuers: First Trust and Direxion. Their fees differ too: 0.95% for EIPX and 1.17% for GUSH.

Which has better risk-adjusted returns?

EIPX currently has the higher Sharpe Ratio (2.45 vs 0.57), 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.