GUSH vs. PMBS
GUSH (Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares) and PMBS (PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund) are both exchange-traded funds - GUSH is a Leveraged Equities fund tracking the S&P Oil & Gas Exploration & Production Select Industry Index (300%), while PMBS is a Mortgage Backed Securities fund actively managed by PIMCO. GUSH is passively managed, while PMBS is actively managed. Over the past year, GUSH returned 58.58% vs 6.32% for PMBS. At a correlation of -0.20, they often move in opposite directions. GUSH charges 1.17%/yr vs 0.71%/yr for PMBS.
Performance
GUSH vs. PMBS - Performance Comparison
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Returns By Period
In the year-to-date period, GUSH achieves a 70.77% return, which is significantly higher than PMBS's 0.98% return.
GUSH
- 1D
- 4.47%
- 1M
- 19.65%
- 6M
- 61.34%
- YTD
- 70.77%
- 1Y
- 58.58%
- 3Y*
- 7.14%
- 5Y*
- 18.73%
- 10Y*
- -35.65%
PMBS
- 1D
- 0.09%
- 1M
- 0.05%
- 6M
- 0.40%
- YTD
- 0.98%
- 1Y
- 6.32%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GUSH vs. PMBS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
GUSH Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares | 70.77% | -19.39% | -4.29% |
PMBS PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund | 0.98% | 8.92% | -2.80% |
Correlation
The correlation between GUSH and PMBS is -0.34, 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 (1Y) Calculated over the trailing 1-year period | -0.34 |
Correlation (All Time) Calculated using the full available price history since Sep 23, 2024 | -0.20 |
The correlation between GUSH and PMBS shifts across timeframes, from -0.34 (1 year) to -0.20 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
GUSH vs. PMBS — Risk / Return Rank
GUSH
PMBS
GUSH vs. PMBS - 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 PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund (PMBS). 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 | PMBS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.47 | ||
| Sortino ratioReturn per unit of downside risk | -0.65 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.27 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.63 | 2.14 | -0.51 |
| Martin ratioReturn relative to average drawdown | 3.73 | 6.47 | -2.75 |
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Drawdowns
GUSH vs. PMBS - Drawdown Comparison
The maximum GUSH drawdown since its inception was -99.98%, which is greater than PMBS's maximum drawdown of -4.35%. Use the drawdown chart below to compare losses from any high point for GUSH and PMBS.
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Drawdown Indicators
| GUSH | PMBS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.98% | -4.35% | -95.63% |
Max Drawdown (1Y)Largest decline over 1 year | -36.18% | -2.97% | -33.21% |
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 DrawdownCurrent decline from peak | -99.79% | -1.47% | -98.32% |
Average DrawdownAverage peak-to-trough decline | -92.96% | -1.16% | -91.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.77% | 0.98% | +14.79% |
Volatility
GUSH vs. PMBS - Volatility Comparison
Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares (GUSH) has a higher volatility of 13.52% compared to PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund (PMBS) at 1.37%. This indicates that GUSH's price experiences larger fluctuations and is considered to be riskier than PMBS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GUSH | PMBS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.52% | 1.37% | +12.15% |
Volatility (6M)Calculated over the trailing 6-month period | 44.38% | 3.30% | +41.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 56.38% | 4.20% | +52.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 67.75% | 4.86% | +62.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 92.95% | 4.86% | +88.09% |
GUSH vs. PMBS - Expense Ratio Comparison
GUSH has a 1.17% expense ratio, which is higher than PMBS's 0.71% expense ratio.
Dividends
GUSH vs. PMBS - Dividend Comparison
GUSH's dividend yield for the trailing twelve months is around 1.28%, less than PMBS's 4.96% 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 | 1.28% | 2.60% | 2.96% | 3.00% | 0.47% | 0.00% | 0.20% | 1.68% | 0.17% | 0.00% | 3.26% |
PMBS PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund | 4.96% | 4.73% | 1.59% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GUSH and PMBS have a correlation of -0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GUSH has higher volatility (13.52%) compared to PMBS (1.37%). In terms of maximum drawdown, GUSH dropped -99.98% vs PMBS's -4.35%.
On 1-year performance, GUSH leads with 58.58% vs 6.32% for PMBS. On fees, PMBS is cheaper at 0.71% per year. On volatility, PMBS has been the lower-risk option at 1.37%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, GUSH has performed better with a 58.58% return vs 6.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PMBS is cheaper with a 0.71% expense ratio, compared with 1.17% for GUSH.
PMBS has the higher dividend yield at 4.96%, compared with 1.28% for GUSH.
GUSH is categorized as Leveraged Equities, while PMBS is Mortgage Backed Securities. They also come from different issuers: Direxion and PIMCO. Their fees differ too: 1.17% for GUSH and 0.71% for PMBS.
PMBS currently has the higher Sharpe Ratio (1.51 vs 1.05), 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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