GUSH vs. NRGU

Last updated Jun 3, 2026

GUSH (Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares) and NRGU (MicroSectors U.S. Big Oil Index 3X Leveraged ETN) are both Leveraged Equities funds - GUSH tracks the S&P Oil & Gas Exploration & Production Select Industry Index (300%) while NRGU tracks the Solactive MicroSectors U.S. Big Oil Index (-300%). Both are passively managed. Over the past year, GUSH returned 78.64% vs 164.28% for NRGU. Their correlation of 0.92 suggests significant overlap in exposure. GUSH charges 1.17%/yr vs 0.95%/yr for NRGU.

Performance

GUSH vs. NRGU - 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 MicroSectors U.S. Big Oil Index 3X Leveraged ETN (NRGU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GUSH achieves a 69.71% return, which is significantly lower than NRGU's 123.66% return.

GUSH

• 1D: 1.40%
• 1M: -9.75%
• YTD: 69.71%
• 6M: 53.49%
• 1Y: 78.64%
• 3Y*: 12.18%
• 5Y*: 10.98%
• 10Y*: -36.58%

NRGU

• 1D: 3.44%
• 1M: -3.38%
• YTD: 123.66%
• 6M: 98.58%
• 1Y: 164.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GUSH vs. NRGU - Yearly Performance Comparison

	2026 (YTD)	2025
GUSH Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares	69.71%	-26.55%
NRGU MicroSectors U.S. Big Oil Index 3X Leveraged ETN	123.66%	-33.00%

Correlation

The correlation between GUSH and NRGU is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (All Time) Calculated using the full available price history since Feb 21, 2025	0.92

The correlation between GUSH and NRGU has been stable across timeframes, ranging from 0.92 to 0.92 - a consistent structural relationship.

GUSH vs. NRGU - Sectors Allocation Comparison

Sectors	GUSH	NRGU
Energy	97.2%	100.0%
Basic Materials	2.9%	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

GUSH vs. NRGU — Risk / Return Rank

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

GUSH

GUSH Risk / Return Rank: 42
GUSH Sharpe Ratio Rank: 40
GUSH Sortino Ratio Rank: 36
GUSH Omega Ratio Rank: 35
GUSH Calmar Ratio Rank: 57
GUSH Martin Ratio Rank: 42

NRGU

NRGU Risk / Return Rank: 62
NRGU Sharpe Ratio Rank: 65
NRGU Sortino Ratio Rank: 51
NRGU Omega Ratio Rank: 50
NRGU Calmar Ratio Rank: 82
NRGU Martin Ratio Rank: 60

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. NRGU - 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 MicroSectors U.S. Big Oil Index 3X Leveraged ETN (NRGU). 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	NRGU	Difference
Sharpe ratio Return per unit of total volatility	1.42	2.20	-0.78
Sortino ratio Return per unit of downside risk	1.88	2.49	-0.61
Omega ratio Gain probability vs. loss probability	1.23	1.31	-0.08
Calmar ratio Return relative to maximum drawdown	2.88	4.31	-1.44
Martin ratio Return relative to average drawdown	6.68	10.83	-4.15
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GUSH vs. NRGU - Sharpe Ratio Comparison

The current GUSH Sharpe Ratio is 1.42, which is lower than the NRGU Sharpe Ratio of 2.20. The chart below compares the historical Sharpe Ratios of GUSH and NRGU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	GUSH	NRGU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.42	2.20	-0.78
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.16	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.39	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.44	0.42	-0.86

Drawdowns

GUSH vs. NRGU - Drawdown Comparison

The maximum GUSH drawdown since its inception was -99.98%, which is greater than NRGU's maximum drawdown of -57.50%. Use the drawdown chart below to compare losses from any high point for GUSH and NRGU.

Drawdown Indicators

	GUSH	NRGU	Difference
Max Drawdown Largest peak-to-trough decline	-99.98%	-57.50%	-42.48%
Max Drawdown (1Y) Largest decline over 1 year	-28.94%	-39.95%	+11.01%
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	-99.79%	-22.86%	-76.93%
Average Drawdown Average peak-to-trough decline	-92.91%	-25.43%	-67.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.46%	15.91%	-3.45%

Volatility

GUSH vs. NRGU - Volatility Comparison

The current volatility for Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares (GUSH) is 20.72%, while MicroSectors U.S. Big Oil Index 3X Leveraged ETN (NRGU) has a volatility of 32.14%. This indicates that GUSH experiences smaller price fluctuations and is considered to be less risky than NRGU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GUSH	NRGU	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.72%	32.14%	-11.42%
Volatility (6M) Calculated over the trailing 6-month period	43.44%	61.37%	-17.93%
Volatility (1Y) Calculated over the trailing 1-year period	55.63%	75.17%	-19.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	68.20%	89.27%	-21.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	93.74%	89.27%	+4.47%

GUSH vs. NRGU - Expense Ratio Comparison

GUSH has a 1.17% expense ratio, which is higher than NRGU's 0.95% expense ratio.

Dividends

GUSH vs. NRGU - Dividend Comparison

GUSH's dividend yield for the trailing twelve months is around 1.47%, while NRGU 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	1.47%	2.60%	2.96%	3.00%	0.47%	0.00%	0.20%	1.68%	0.17%	0.00%	3.26%
NRGU MicroSectors U.S. Big Oil Index 3X Leveraged 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

Can I hold both GUSH and NRGU in my portfolio?

With a correlation of 0.92, GUSH and NRGU move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, GUSH or NRGU?

NRGU has higher volatility (32.14%) compared to GUSH (20.72%). In terms of maximum drawdown, GUSH dropped -99.98% vs NRGU's -57.50%.

Which ETF is better, GUSH or NRGU?

On 1-year performance, NRGU leads with 164.28% vs 78.64% for GUSH. On fees, NRGU is cheaper at 0.95% per year. On volatility, GUSH has been the lower-risk option at 20.72%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GUSH or NRGU?

Over the 1-year period, NRGU has performed better with a 164.28% return vs 78.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GUSH or NRGU?

NRGU is cheaper with a 0.95% expense ratio, compared with 1.17% for GUSH.

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

GUSH has the higher dividend yield at 1.47%, compared with 0.00% for NRGU.

What is the main difference between GUSH and NRGU?

GUSH tracks S&P Oil & Gas Exploration & Production Select Industry Index (300%), while NRGU tracks Solactive MicroSectors U.S. Big Oil Index (-300%). They also come from different issuers: Direxion and BMO. Their fees differ too: 1.17% for GUSH and 0.95% for NRGU.

Which has better risk-adjusted returns?

NRGU currently has the higher Sharpe Ratio (2.20 vs 1.42), 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.