GUSH vs. LULG

Last updated Jun 24, 2026

GUSH (Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares) and LULG (Leverage Shares 2X Long LULU Daily ETF) are both Leveraged Equities funds. GUSH is passively managed, while LULG is actively managed. At a correlation of -0.18, they often move in opposite directions. GUSH charges 1.17%/yr vs 0.75%/yr for LULG.

Performance

GUSH vs. LULG - 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 Leverage Shares 2X Long LULU Daily ETF (LULG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GUSH achieves a 42.54% return, which is significantly higher than LULG's -76.82% return.

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%

LULG

• 1D: 6.69%
• 1M: -29.31%
• YTD: -76.82%
• 6M: -77.98%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GUSH vs. LULG - Yearly Performance Comparison

	2026 (YTD)	2025
GUSH Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares	42.54%	0.06%
LULG Leverage Shares 2X Long LULU Daily ETF	-76.82%	55.59%

Correlation

The correlation between GUSH and LULG is -0.18, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 5, 2025	-0.18

Return for Risk

GUSH vs. LULG — Risk / Return Rank

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

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

LULG

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

GUSH vs. LULG - 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 Leverage Shares 2X Long LULU Daily ETF (LULG). 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	LULG	Difference
Sharpe ratio: Return per unit of total volatility	0.57	—	—
Sortino ratio: Return per unit of downside risk	1.08	—	—
Omega ratio: Gain probability vs. loss probability	1.13	—	—
Calmar ratio: Return relative to maximum drawdown	0.88	—	—
Martin ratio: Return relative to average drawdown	2.32	—	—

Drawdowns

GUSH vs. LULG - Drawdown Comparison

The maximum GUSH drawdown since its inception was -99.98%, which is greater than LULG's maximum drawdown of -79.88%. Use the drawdown chart below to compare losses from any high point for GUSH and LULG.

Drawdown Indicators

	GUSH	LULG	Difference
Max Drawdown Largest peak-to-trough decline	-99.98%	-79.88%	-20.10%
Max Drawdown (1Y) Largest decline over 1 year	-36.18%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-63.59%	—	—
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	-99.83%	-78.53%	-21.30%
Average Drawdown Average peak-to-trough decline	-92.92%	-36.70%	-56.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.77%	—	—

Volatility

Volatility by Period

	GUSH	LULG	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.01%	—	—
Volatility (6M) Calculated over the trailing 6-month period	44.07%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	56.58%	88.27%	-31.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	68.20%	88.27%	-20.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	93.43%	88.27%	+5.16%

GUSH vs. LULG - Expense Ratio Comparison

GUSH has a 1.17% expense ratio, which is higher than LULG's 0.75% expense ratio.

Dividends

GUSH vs. LULG - Dividend Comparison

GUSH's dividend yield for the trailing twelve months is around 1.75%, while LULG 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	1.75%	2.60%	2.96%	3.00%	0.47%	0.00%	0.20%	1.68%	0.17%	0.00%	3.26%
LULG Leverage Shares 2X Long LULU Daily ETF	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

Can I hold both GUSH and LULG in my portfolio?

GUSH and LULG have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GUSH or LULG?

On fees, LULG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GUSH or LULG?

LULG is cheaper with a 0.75% expense ratio, compared with 1.17% for GUSH.

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

GUSH has the higher dividend yield at 1.75%, compared with 0.00% for LULG.

What is the main difference between GUSH and LULG?

They also come from different issuers: Direxion and Leverage Shares. Their fees differ too: 1.17% for GUSH and 0.75% for LULG.