GUSH vs. BRZU

Last updated Aug 2, 2026

GUSH (Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares) and BRZU (Direxion Daily Brazil Bull 2X Shares) are both Leveraged Equities funds from Direxion - GUSH tracks the S&P Oil & Gas Exploration & Production Select Industry Index (300%) while BRZU tracks the MSCI Brazil 25/50 Index. Both are passively managed. Over the past 10 years, GUSH returned -34.13%/yr vs -19.05%/yr for BRZU. Their 0.37 correlation means their historical movements had little consistent relationship. GUSH charges 1.17%/yr vs 1.29%/yr for BRZU.

Performance

GUSH vs. BRZU - Performance Comparison

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

Returns By Period

In the year-to-date period, GUSH achieves a 84.27% return, which is significantly higher than BRZU's 25.69% return. Over the past 10 years, GUSH has underperformed BRZU with an annualized return of -34.13%, while BRZU has yielded a comparatively higher -19.05% annualized return.

GUSH

• 1D: 2.66%
• 1M: 29.75%
• 6M: 50.64%
• YTD: 84.27%
• 1Y: 87.82%
• 3Y*: 5.22%
• 5Y*: 20.49%
• 10Y*: -34.13%
• ALL TIME*: -41.90%

BRZU

• 1D: 0.98%
• 1M: 12.57%
• 6M: -6.32%
• YTD: 25.69%
• 1Y: 83.60%
• 3Y*: 6.48%
• 5Y*: 2.33%
• 10Y*: -19.05%
• ALL TIME*: -29.81%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BRZU Direxion Daily Brazil Bull 2X Shares	$1.63M	$1.55M	$2.54M
GUSH Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares	$34.81M	$32.68M	$31.93M

GUSH vs. BRZU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GUSH Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares	84.27%	-19.39%	-12.73%	-7.23%	66.47%	129.94%	-97.38%	-52.68%	-74.28%	-40.21%
BRZU Direxion Daily Brazil Bull 2X Shares	25.69%	97.99%	-57.07%	55.48%	8.30%	-39.23%	-91.34%	57.02%	-37.21%	30.80%

Correlation

The correlation between GUSH and BRZU is -0.01, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.01
Correlation (3Y) Balances recent behavior with more history.	0.19
Correlation (5Y) Shows whether the relationship held over a longer period.	0.30
Correlation (10Y) Provides a long-term view across more market conditions.	0.34
Correlation (All Time) Calculated using the full available price history since May 29, 2015	0.37

The correlation between GUSH and BRZU shifts across timeframes, from -0.01 (1 year) to 0.37 (all time), reflecting how their relationship changes across market environments.

GUSH vs. BRZU - Sectors Allocation Comparison

Sectors	GUSH	BRZU
Energy	95.1%	15.1%
Basic Materials	4.3%	14.5%
Industrials	0.7%	11.6%
Technology	0.6%	0.4%
Communication Services	-	2.1%
Consumer Cyclical	-	1.4%
Consumer Defensive	-	4.7%
Financial Services	-	34.5%
Healthcare	-	2.2%
Real Estate	-	-
Utilities	-	13.5%

Return for Risk

GUSH vs. BRZU — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

GUSH

GUSH Risk / Return Rank: 52
GUSH Sharpe Ratio Rank: 55
GUSH Sortino Ratio Rank: 51
GUSH Omega Ratio Rank: 50
GUSH Calmar Ratio Rank: 59
GUSH Martin Ratio Rank: 42

BRZU

BRZU Risk / Return Rank: 65
BRZU Sharpe Ratio Rank: 75
BRZU Sortino Ratio Rank: 67
BRZU Omega Ratio Rank: 66
BRZU Calmar Ratio Rank: 68
BRZU Martin Ratio Rank: 48

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

GUSH vs. BRZU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares (GUSH) and Direxion Daily Brazil Bull 2X Shares (BRZU). 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.

	GUSH	BRZU	Difference
Sharpe ratio: Return per unit of total volatility	1.32	1.70	-0.39
Sortino ratio: Return per unit of downside risk	1.80	2.19	-0.38
Omega ratio: Gain probability vs. loss probability	1.22	1.28	-0.06
Calmar ratio: Return relative to maximum drawdown	2.07	2.36	-0.29
Martin ratio: Return relative to average drawdown	4.68	5.48	-0.80

GUSH vs. BRZU - Sharpe Ratio Comparison

The current GUSH Sharpe Ratio is 1.32, which is comparable to the BRZU Sharpe Ratio of 1.70. The chart below compares the historical Sharpe Ratios of GUSH and BRZU, 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

GUSH vs. BRZU - Drawdown Comparison

The maximum GUSH drawdown since its inception was -99.98%, roughly equal to the maximum BRZU drawdown of -99.71%. Use the drawdown chart below to compare losses from any high point for GUSH and BRZU.

Drawdown Indicators

	GUSH	BRZU	Difference
Max Drawdown Largest peak-to-trough decline	-99.98%	-99.71%	-0.27%
Max Drawdown (1Y) Largest decline over 1 year	-36.18%	-35.97%	-0.21%
Max Drawdown (3Y) Largest decline over 3 years	-63.59%	-58.25%	-5.34%
Max Drawdown (5Y) Largest decline over 5 years	-73.64%	-62.89%	-10.75%
Max Drawdown (10Y) Largest decline over 10 years	-99.94%	-98.11%	-1.83%
Current Drawdown Current decline from peak	-99.77%	-99.10%	-0.67%
Average Drawdown Average peak-to-trough decline	-92.98%	-89.64%	-3.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.04%	15.49%	+0.55%

Volatility

GUSH vs. BRZU - Volatility Comparison

Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares (GUSH) has a higher volatility of 16.40% compared to Direxion Daily Brazil Bull 2X Shares (BRZU) at 13.30%. This indicates that GUSH's price experiences larger fluctuations and is considered to be riskier than BRZU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GUSH	BRZU	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.40%	13.30%	+3.10%
Volatility (6M) Calculated over the trailing 6-month period	45.15%	38.80%	+6.35%
Volatility (1Y) Calculated over the trailing 1-year period	56.92%	50.02%	+6.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	67.48%	54.96%	+12.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	92.83%	82.21%	+10.62%

GUSH vs. BRZU - Expense Ratio Comparison

GUSH has a 1.17% expense ratio, which is lower than BRZU's 1.29% expense ratio.

Dividends

GUSH vs. BRZU - Dividend Comparison

GUSH's dividend yield for the trailing twelve months is around 1.18%, less than BRZU's 1.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
BRZU Direxion Daily Brazil Bull 2X Shares	1.79%	2.39%	8.73%	3.24%	4.70%	6.29%	0.78%	0.95%	1.04%	0.74%	0.00%
GUSH Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares	1.18%	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 GUSH and BRZU in my portfolio?

GUSH and BRZU have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GUSH or BRZU?

GUSH has higher volatility (16.40%) compared to BRZU (13.30%). In terms of maximum drawdown, GUSH dropped -99.98% vs BRZU's -99.71%.

Which ETF is better, GUSH or BRZU?

On 10-year performance, BRZU leads with -19.05% vs -34.13% for GUSH. On fees, GUSH is cheaper at 1.17% per year. On volatility, BRZU has been the lower-risk option at 13.30%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GUSH or BRZU?

Over the 10-year period, BRZU has performed better with a -19.05% return vs -34.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GUSH or BRZU?

GUSH is cheaper with a 1.17% expense ratio, compared with 1.29% for BRZU.

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

BRZU has the higher dividend yield at 1.79%, compared with 1.18% for GUSH.

What is the main difference between GUSH and BRZU?

GUSH tracks S&P Oil & Gas Exploration & Production Select Industry Index (300%), while BRZU tracks MSCI Brazil 25/50 Index. Their fees differ too: 1.17% for GUSH and 1.29% for BRZU.

Which has better risk-adjusted returns?

BRZU currently has the higher Sharpe Ratio (1.70 vs 1.32), 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.