GUSH vs. OILK
GUSH (Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares) and OILK (ProShares K-1 Free Crude Oil Strategy 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 OILK is a Oil & Gas fund tracking the Bloomberg Commodity Balanced WTI Crude Oil Index. Both are passively managed. Over the past 5 years, GUSH returned 6.25%/yr vs 13.00%/yr for OILK. A 0.62 correlation means they provide meaningful diversification when combined. GUSH charges 1.17%/yr vs 0.68%/yr for OILK.
Performance
GUSH vs. OILK - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with GUSH having a 42.54% return and OILK slightly lower at 40.78%.
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%
OILK
- 1D
- -0.59%
- 1M
- -13.38%
- YTD
- 40.78%
- 6M
- 38.63%
- 1Y
- 27.24%
- 3Y*
- 13.91%
- 5Y*
- 13.00%
- 10Y*
- —
GUSH vs. OILK - 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 | 42.54% | -19.39% | -12.73% | -7.23% | 66.47% | 129.94% | -97.38% | -52.68% | -74.28% | -40.21% |
OILK ProShares K-1 Free Crude Oil Strategy ETF | 40.78% | -11.86% | 8.18% | -0.97% | 27.57% | 63.71% | -61.09% | 30.48% | -20.40% | 2.82% |
Correlation
The correlation between GUSH and OILK is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Sep 28, 2016 | 0.62 |
The correlation between GUSH and OILK has been stable across timeframes, ranging from 0.62 to 0.68 - a consistent structural relationship.
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Return for Risk
GUSH vs. OILK — Risk / Return Rank
GUSH
OILK
GUSH vs. OILK - 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 ProShares K-1 Free Crude Oil Strategy ETF (OILK). 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 | OILK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.39 | ||
| Sortino ratioReturn per unit of downside risk | -0.34 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.18 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.88 | 1.57 | -0.69 |
| Martin ratioReturn relative to average drawdown | 2.32 | 3.49 | -1.17 |
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Drawdowns
GUSH vs. OILK - Drawdown Comparison
The maximum GUSH drawdown since its inception was -99.98%, which is greater than OILK's maximum drawdown of -83.76%. Use the drawdown chart below to compare losses from any high point for GUSH and OILK.
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Drawdown Indicators
| GUSH | OILK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.98% | -83.76% | -16.22% |
Max Drawdown (1Y)Largest decline over 1 year | -36.18% | -17.41% | -18.77% |
Max Drawdown (3Y)Largest decline over 3 years | -63.59% | -23.42% | -40.17% |
Max Drawdown (5Y)Largest decline over 5 years | -73.64% | -34.69% | -38.95% |
Max Drawdown (10Y)Largest decline over 10 years | -99.94% | — | — |
Current DrawdownCurrent decline from peak | -99.83% | -17.41% | -82.42% |
Average DrawdownAverage peak-to-trough decline | -92.92% | -32.48% | -60.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.77% | 7.86% | +5.91% |
Volatility
GUSH vs. OILK - Volatility Comparison
Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares (GUSH) has a higher volatility of 18.01% compared to ProShares K-1 Free Crude Oil Strategy ETF (OILK) at 8.02%. This indicates that GUSH's price experiences larger fluctuations and is considered to be riskier than OILK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GUSH | OILK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.01% | 8.02% | +9.99% |
Volatility (6M)Calculated over the trailing 6-month period | 44.07% | 24.07% | +20.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 56.58% | 29.00% | +27.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 68.20% | 30.27% | +37.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 93.43% | 35.96% | +57.47% |
GUSH vs. OILK - Expense Ratio Comparison
GUSH has a 1.17% expense ratio, which is higher than OILK's 0.68% expense ratio.
Dividends
GUSH vs. OILK - Dividend Comparison
GUSH's dividend yield for the trailing twelve months is around 1.75%, less than OILK's 9.54% yield.
| 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% |
OILK ProShares K-1 Free Crude Oil Strategy ETF | 9.54% | 4.79% | 3.11% | 5.80% | 17.32% | 68.82% | 0.13% | 0.94% | 0.58% | 6.17% | 0.00% |
Frequently Asked Questions
GUSH and OILK have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GUSH has higher volatility (18.01%) compared to OILK (8.02%). In terms of maximum drawdown, GUSH dropped -99.98% vs OILK's -83.76%.
On 5-year performance, OILK leads with 13.00% vs 6.25% for GUSH. On fees, OILK is cheaper at 0.68% per year. On volatility, OILK has been the lower-risk option at 8.02%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, OILK has performed better with a 13.00% return vs 6.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
OILK is cheaper with a 0.68% expense ratio, compared with 1.17% for GUSH.
OILK has the higher dividend yield at 9.54%, compared with 1.75% for GUSH.
GUSH is categorized as Leveraged Equities, while OILK is Oil & Gas. GUSH tracks S&P Oil & Gas Exploration & Production Select Industry Index (300%), while OILK tracks Bloomberg Commodity Balanced WTI Crude Oil Index. They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.17% for GUSH and 0.68% for OILK.
OILK currently has the higher Sharpe Ratio (0.96 vs 0.57), 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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