GUSH vs. OILU
GUSH (Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares) and OILU (MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN) are both exchange-traded funds - GUSH is a Leveraged Equities fund tracking the S&P Oil & Gas Exploration & Production Select Industry Index (300%), while OILU is a Leveraged Commodities fund managed by BMO. Over the past 3 years, GUSH returned 6.88%/yr vs 4.85%/yr for OILU. Their correlation of 0.93 suggests significant overlap in exposure. GUSH charges 1.17%/yr vs 0.95%/yr for OILU.
Performance
GUSH vs. OILU - Performance Comparison
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Returns By Period
In the year-to-date period, GUSH achieves a 42.54% return, which is significantly lower than OILU's 53.67% 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%
OILU
- 1D
- 1.46%
- 1M
- -25.16%
- YTD
- 53.67%
- 6M
- 54.81%
- 1Y
- 54.07%
- 3Y*
- 4.85%
- 5Y*
- —
- 10Y*
- —
GUSH vs. OILU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
GUSH Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares | 42.54% | -19.39% | -12.73% | -7.23% | 66.47% | -27.56% |
OILU MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN | 53.67% | -16.50% | -21.65% | -32.50% | 151.08% | -16.79% |
Correlation
The correlation between GUSH and OILU is 0.91, 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 | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Nov 9, 2021 | 0.93 |
The correlation between GUSH and OILU has been stable across timeframes, ranging from 0.91 to 0.93 - a consistent structural relationship.
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Return for Risk
GUSH vs. OILU — Risk / Return Rank
GUSH
OILU
GUSH vs. OILU - 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 Oil & Gas Exploration & Production 3X Leveraged ETN (OILU). 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 | OILU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.29 | ||
| Sortino ratioReturn per unit of downside risk | -0.34 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.17 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.88 | 1.24 | -0.36 |
| Martin ratioReturn relative to average drawdown | 2.32 | 3.58 | -1.26 |
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Drawdowns
GUSH vs. OILU - Drawdown Comparison
The maximum GUSH drawdown since its inception was -99.98%, which is greater than OILU's maximum drawdown of -81.00%. Use the drawdown chart below to compare losses from any high point for GUSH and OILU.
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Drawdown Indicators
| GUSH | OILU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.98% | -81.00% | -18.98% |
Max Drawdown (1Y)Largest decline over 1 year | -36.18% | -43.74% | +7.56% |
Max Drawdown (3Y)Largest decline over 3 years | -63.59% | -69.09% | +5.50% |
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 | -99.83% | -58.67% | -41.16% |
Average DrawdownAverage peak-to-trough decline | -92.92% | -50.58% | -42.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.77% | 15.16% | -1.39% |
Volatility
GUSH vs. OILU - Volatility Comparison
The current volatility for Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares (GUSH) is 18.01%, while MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU) has a volatility of 21.87%. This indicates that GUSH experiences smaller price fluctuations and is considered to be less risky than OILU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GUSH | OILU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.01% | 21.87% | -3.86% |
Volatility (6M)Calculated over the trailing 6-month period | 44.07% | 50.75% | -6.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 56.58% | 63.57% | -6.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 68.20% | 81.10% | -12.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 93.43% | 81.10% | +12.33% |
GUSH vs. OILU - Expense Ratio Comparison
GUSH has a 1.17% expense ratio, which is higher than OILU's 0.95% expense ratio.
Dividends
GUSH vs. OILU - Dividend Comparison
GUSH's dividend yield for the trailing twelve months is around 1.75%, while OILU 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% |
OILU MicroSectors Oil & Gas Exploration & Production 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
With a correlation of 0.91, GUSH and OILU 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.
OILU has higher volatility (21.87%) compared to GUSH (18.01%). In terms of maximum drawdown, GUSH dropped -99.98% vs OILU's -81.00%.
On 3-year performance, GUSH leads with 6.88% vs 4.85% for OILU. On fees, OILU is cheaper at 0.95% per year. On volatility, GUSH has been the lower-risk option at 18.01%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, GUSH has performed better with a 6.88% return vs 4.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
OILU is cheaper with a 0.95% expense ratio, compared with 1.17% for GUSH.
GUSH has the higher dividend yield at 1.75%, compared with 0.00% for OILU.
GUSH is categorized as Leveraged Equities, while OILU is Leveraged Commodities. They also come from different issuers: Direxion and BMO. Their fees differ too: 1.17% for GUSH and 0.95% for OILU.
OILU currently has the higher Sharpe Ratio (0.86 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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