GUSH vs. FLMI
GUSH (Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares) and FLMI (Franklin Liberty Federal Intermediate Tax-Free Bond Opportunities ETF) are both exchange-traded funds - GUSH is a Leveraged Equities fund tracking the S&P Oil & Gas Exploration & Production Select Industry Index (300%), while FLMI is a Municipal Bonds fund actively managed by Franklin Templeton. GUSH is passively managed, while FLMI is actively managed. Over the past 5 years, GUSH returned 20.49%/yr vs 1.67%/yr for FLMI. Their -0.09 correlation means they have often moved in opposite directions in the past. GUSH charges 1.17%/yr vs 0.30%/yr for FLMI.
Performance
GUSH vs. FLMI - Performance Comparison
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Returns By Period
In the year-to-date period, GUSH achieves a 84.27% return, which is significantly higher than FLMI's 1.14% 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%
FLMI
- 1D
- 0.00%
- 1M
- -1.79%
- 6M
- 0.18%
- YTD
- 1.14%
- 1Y
- 5.98%
- 3Y*
- 5.21%
- 5Y*
- 1.67%
- 10Y*
- —
- ALL TIME*
- 2.86%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $14.73M | $15.20M | $18.23M | |
| $34.81M | $32.68M | $31.93M |
GUSH vs. FLMI - 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% | 71.28% |
FLMI Franklin Liberty Federal Intermediate Tax-Free Bond Opportunities ETF | 1.14% | 5.89% | 4.91% | 7.89% | -10.23% | 4.06% | 6.11% | 6.71% | 0.29% | -0.02% |
Correlation
The correlation between GUSH and FLMI is -0.33, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.33 |
Correlation (3Y) Balances recent behavior with more history. | -0.09 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.07 |
Correlation (All Time) Calculated using the full available price history since Sep 5, 2017 | -0.09 |
Over the past year, the inverse relationship between GUSH and FLMI has strengthened: their correlation has moved from -0.09 to -0.33, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
GUSH vs. FLMI — Risk / Return Rank
GUSH
FLMI
GUSH vs. FLMI - 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 Franklin Liberty Federal Intermediate Tax-Free Bond Opportunities ETF (FLMI). 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 | FLMI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.95 | ||
| Sortino ratioReturn per unit of downside risk | -1.48 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.50 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | 2.07 | 2.37 | -0.30 |
| Martin ratioReturn relative to average drawdown | 4.68 | 8.11 | -3.43 |
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Drawdowns
GUSH vs. FLMI - Drawdown Comparison
The maximum GUSH drawdown since its inception was -99.98%, which is greater than FLMI's maximum drawdown of -14.66%. Use the drawdown chart below to compare losses from any high point for GUSH and FLMI.
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Drawdown Indicators
| GUSH | FLMI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.98% | -14.66% | -85.32% |
Max Drawdown (1Y)Largest decline over 1 year | -36.18% | -2.90% | -33.28% |
Max Drawdown (3Y)Largest decline over 3 years | -63.59% | -4.66% | -58.93% |
Max Drawdown (5Y)Largest decline over 5 years | -73.64% | -14.66% | -58.98% |
Max Drawdown (10Y)Largest decline over 10 years | -99.94% | — | — |
Current DrawdownCurrent decline from peak | -99.77% | -1.79% | -97.98% |
Average DrawdownAverage peak-to-trough decline | -92.98% | -2.78% | -90.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.04% | 0.84% | +15.20% |
Volatility
GUSH vs. FLMI - Volatility Comparison
Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares (GUSH) has a higher volatility of 16.40% compared to Franklin Liberty Federal Intermediate Tax-Free Bond Opportunities ETF (FLMI) at 1.04%. This indicates that GUSH's price experiences larger fluctuations and is considered to be riskier than FLMI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GUSH | FLMI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.40% | 1.04% | +15.36% |
Volatility (6M)Calculated over the trailing 6-month period | 45.15% | 2.30% | +42.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 56.92% | 3.03% | +53.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 67.48% | 4.45% | +63.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 92.83% | 4.70% | +88.13% |
GUSH vs. FLMI - Expense Ratio Comparison
GUSH has a 1.17% expense ratio, which is higher than FLMI's 0.30% expense ratio.
Dividends
GUSH vs. FLMI - Dividend Comparison
GUSH's dividend yield for the trailing twelve months is around 1.18%, less than FLMI's 3.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
FLMI Franklin Liberty Federal Intermediate Tax-Free Bond Opportunities ETF | 3.59% | 3.89% | 4.08% | 3.71% | 3.08% | 2.22% | 2.09% | 2.71% | 2.41% | 0.34% | 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
GUSH and FLMI have a correlation of -0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GUSH has higher volatility (16.40%) compared to FLMI (1.04%). In terms of maximum drawdown, GUSH dropped -99.98% vs FLMI's -14.66%.
On 5-year performance, GUSH leads with 20.49% vs 1.67% for FLMI. On fees, FLMI is cheaper at 0.30% per year. On volatility, FLMI has been the lower-risk option at 1.04%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, GUSH has performed better with a 20.49% return vs 1.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FLMI is cheaper with a 0.30% expense ratio, compared with 1.17% for GUSH.
FLMI has the higher dividend yield at 3.59%, compared with 1.18% for GUSH.
GUSH is categorized as Leveraged Equities, while FLMI is Municipal Bonds. They also come from different issuers: Direxion and Franklin Templeton. Their fees differ too: 1.17% for GUSH and 0.30% for FLMI.
FLMI currently has the higher Sharpe Ratio (2.26 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.
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