GUSH vs. IFED
GUSH (Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares) and IFED (ETRACS IFED Invest with the Fed TR Index ETN) are both Leveraged Equities funds - GUSH tracks the S&P Oil & Gas Exploration & Production Select Industry Index (300%) while IFED tracks the IFED Large-Cap US Equity Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, GUSH returned 7.58%/yr vs 14.90%/yr for IFED. At a 0.42 correlation, their price movements are largely independent. GUSH charges 1.17%/yr vs 0.45%/yr for IFED.
Performance
GUSH vs. IFED - Performance Comparison
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Returns By Period
In the year-to-date period, GUSH achieves a 62.18% return, which is significantly higher than IFED's -3.70% return.
GUSH
- 1D
- 0.66%
- 1M
- 0.61%
- 6M
- 54.35%
- YTD
- 62.18%
- 1Y
- 44.60%
- 3Y*
- 7.58%
- 5Y*
- 15.58%
- 10Y*
- -36.10%
IFED
- 1D
- 0.00%
- 1M
- -0.71%
- 6M
- -4.12%
- YTD
- -3.70%
- 1Y
- -0.46%
- 3Y*
- 14.90%
- 5Y*
- —
- 10Y*
- —
GUSH vs. IFED - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
GUSH Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares | 62.18% | -19.39% | -12.73% | -7.23% | 66.47% | 22.91% |
IFED ETRACS IFED Invest with the Fed TR Index ETN | -3.70% | 15.02% | 23.04% | 20.78% | -1.46% | 8.46% |
Correlation
The correlation between GUSH and IFED is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2021 | 0.42 |
The correlation between GUSH and IFED shifts across timeframes, from -0.02 (1 year) to 0.42 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
GUSH vs. IFED — Risk / Return Rank
GUSH
IFED
GUSH vs. IFED - 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 ETRACS IFED Invest with the Fed TR Index ETN (IFED). 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 | IFED | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.82 | ||
| Sortino ratioReturn per unit of downside risk | +1.23 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.01 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 1.24 | -0.03 | +1.27 |
| Martin ratioReturn relative to average drawdown | 2.88 | -0.08 | +2.95 |
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Drawdowns
GUSH vs. IFED - Drawdown Comparison
The maximum GUSH drawdown since its inception was -99.98%, which is greater than IFED's maximum drawdown of -22.36%. Use the drawdown chart below to compare losses from any high point for GUSH and IFED.
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Drawdown Indicators
| GUSH | IFED | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.98% | -22.36% | -77.62% |
Max Drawdown (1Y)Largest decline over 1 year | -36.18% | -14.65% | -21.53% |
Max Drawdown (3Y)Largest decline over 3 years | -63.59% | -22.36% | -41.23% |
Max Drawdown (5Y)Largest decline over 5 years | -73.64% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -99.94% | — | — |
Current DrawdownCurrent decline from peak | -99.80% | -5.67% | -94.13% |
Average DrawdownAverage peak-to-trough decline | -92.95% | -5.83% | -87.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.62% | 6.02% | +9.60% |
Volatility
GUSH vs. IFED - Volatility Comparison
Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares (GUSH) has a higher volatility of 15.95% compared to ETRACS IFED Invest with the Fed TR Index ETN (IFED) at 7.00%. This indicates that GUSH's price experiences larger fluctuations and is considered to be riskier than IFED based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GUSH | IFED | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.95% | 7.00% | +8.95% |
Volatility (6M)Calculated over the trailing 6-month period | 44.34% | 15.09% | +29.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 56.53% | 17.76% | +38.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 67.86% | 20.01% | +47.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 92.98% | 20.01% | +72.97% |
GUSH vs. IFED - Expense Ratio Comparison
GUSH has a 1.17% expense ratio, which is higher than IFED's 0.45% expense ratio.
Dividends
GUSH vs. IFED - Dividend Comparison
GUSH's dividend yield for the trailing twelve months is around 1.34%, while IFED has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
GUSH Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares | 1.34% | 2.60% | 2.96% | 3.00% | 0.47% | 0.00% | 0.20% | 1.68% | 0.17% | 0.00% | 3.26% |
IFED ETRACS IFED Invest with the Fed TR Index ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GUSH and IFED have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GUSH has higher volatility (15.95%) compared to IFED (7.00%). In terms of maximum drawdown, GUSH dropped -99.98% vs IFED's -22.36%.
On 3-year performance, IFED leads with 14.90% vs 7.58% for GUSH. On fees, IFED is cheaper at 0.45% per year. On volatility, IFED has been the lower-risk option at 7.00%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, IFED has performed better with a 14.90% return vs 7.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IFED is cheaper with a 0.45% expense ratio, compared with 1.17% for GUSH.
GUSH has the higher dividend yield at 1.34%, compared with 0.00% for IFED.
GUSH tracks S&P Oil & Gas Exploration & Production Select Industry Index (300%), while IFED tracks IFED Large-Cap US Equity Index - Benchmark TR Gross. They also come from different issuers: Direxion and UBS. Their fees differ too: 1.17% for GUSH and 0.45% for IFED.
GUSH currently has the higher Sharpe Ratio (0.79 vs -0.03), 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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