GUSH vs. IONX
Compare and contrast key facts about Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares (GUSH) and Defiance Daily Target 2X Long IONQ ETF (IONX).
GUSH and IONX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GUSH is a passively managed fund by Direxion that tracks the performance of the S&P Oil & Gas Exploration & Production Select Industry Index (300%). It was launched on Apr 1, 2020. IONX is an actively managed fund by Defiance. It was launched on Mar 11, 2025.
Performance
GUSH vs. IONX - Performance Comparison
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GUSH vs. IONX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
GUSH Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares | 102.61% | -6.75% |
IONX Defiance Daily Target 2X Long IONQ ETF | -68.06% | 67.09% |
Returns By Period
In the year-to-date period, GUSH achieves a 102.61% return, which is significantly higher than IONX's -68.06% return.
GUSH
- 1D
- -3.93%
- 1M
- 39.57%
- YTD
- 102.61%
- 6M
- 81.38%
- 1Y
- 68.02%
- 3Y*
- 15.69%
- 5Y*
- 19.89%
- 10Y*
- -32.37%
IONX
- 1D
- 16.54%
- 1M
- -46.45%
- YTD
- -68.06%
- 6M
- -87.86%
- 1Y
- -43.24%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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GUSH vs. IONX - Expense Ratio Comparison
GUSH has a 1.17% expense ratio, which is lower than IONX's 1.31% expense ratio.
Return for Risk
GUSH vs. IONX — Risk / Return Rank
GUSH
IONX
GUSH vs. IONX - 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 Defiance Daily Target 2X Long IONQ ETF (IONX). 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.
| GUSH | IONX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.02 | -0.23 | +1.24 |
Sortino ratioReturn per unit of downside risk | 1.55 | 1.01 | +0.55 |
Omega ratioGain probability vs. loss probability | 1.22 | 1.11 | +0.11 |
Calmar ratioReturn relative to maximum drawdown | 1.61 | -0.51 | +2.12 |
Martin ratioReturn relative to average drawdown | 4.01 | -0.87 | +4.88 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GUSH | IONX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.02 | -0.23 | +1.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.29 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.34 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.43 | -0.23 | -0.20 |
Correlation
The correlation between GUSH and IONX is 0.23, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
GUSH vs. IONX - Dividend Comparison
GUSH's dividend yield for the trailing twelve months is around 1.23%, less than IONX's 7.98% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
GUSH Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares | 1.23% | 2.60% | 2.96% | 3.00% | 0.47% | 0.00% | 0.20% | 1.68% | 0.17% | 0.00% | 3.26% |
IONX Defiance Daily Target 2X Long IONQ ETF | 7.98% | 2.55% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
GUSH vs. IONX - Drawdown Comparison
The maximum GUSH drawdown since its inception was -99.98%, which is greater than IONX's maximum drawdown of -93.75%. Use the drawdown chart below to compare losses from any high point for GUSH and IONX.
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Drawdown Indicators
| GUSH | IONX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.98% | -93.75% | -6.23% |
Max Drawdown (1Y)Largest decline over 1 year | -43.67% | -93.75% | +50.08% |
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 | -99.75% | -92.72% | -7.03% |
Average DrawdownAverage peak-to-trough decline | -92.81% | -44.49% | -48.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.54% | 54.75% | -37.21% |
Volatility
GUSH vs. IONX - Volatility Comparison
The current volatility for Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares (GUSH) is 14.01%, while Defiance Daily Target 2X Long IONQ ETF (IONX) has a volatility of 32.82%. This indicates that GUSH experiences smaller price fluctuations and is considered to be less risky than IONX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GUSH | IONX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.01% | 32.82% | -18.81% |
Volatility (6M)Calculated over the trailing 6-month period | 38.39% | 131.54% | -93.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 67.12% | 192.31% | -125.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 68.80% | 196.17% | -127.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 94.28% | 196.17% | -101.89% |