GUSH vs. SOXS
GUSH (Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares) and SOXS (Direxion Daily Semiconductor Bear 3x Shares) are both exchange-traded funds - GUSH is a Leveraged Equities fund tracking the S&P Oil & Gas Exploration & Production Select Industry Index (300%), while SOXS is a Inverse Equities fund tracking the PHLX Semiconductor Index (-300%). Both are passively managed. Over the past 10 years, GUSH returned -35.47%/yr vs -77.95%/yr for SOXS. Their -0.33 correlation means they have often moved in opposite directions in the past. GUSH charges 1.17%/yr vs 1.08%/yr for SOXS.
Performance
GUSH vs. SOXS - Performance Comparison
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Returns By Period
In the year-to-date period, GUSH achieves a 78.07% return, which is significantly higher than SOXS's -91.36% return. Over the past 10 years, GUSH has outperformed SOXS with an annualized return of -35.47%, while SOXS has yielded a comparatively lower -77.95% annualized return.
GUSH
- 1D
- -3.36%
- 1M
- 25.39%
- 6M
- 55.55%
- YTD
- 78.07%
- 1Y
- 81.50%
- 3Y*
- 3.21%
- 5Y*
- 21.93%
- 10Y*
- -35.47%
- ALL TIME*
- -42.06%
SOXS
- 1D
- -2.19%
- 1M
- 17.69%
- 6M
- -85.38%
- YTD
- -91.36%
- 1Y
- -96.54%
- 3Y*
- -85.20%
- 5Y*
- -78.25%
- 10Y*
- -77.95%
- ALL TIME*
- -70.83%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $35.17M | $33.48M | $31.85M | |
| $3.80B | $3.40B | $3.36B |
GUSH vs. SOXS - 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 | 78.07% | -19.39% | -12.73% | -7.23% | 66.47% | 129.94% | -97.38% | -52.68% | -74.28% | -40.21% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | -91.36% | -85.53% | -59.55% | -84.56% | 15.76% | -80.94% | -92.90% | -83.81% | -19.39% | -69.39% |
Correlation
The correlation between GUSH and SOXS is 0.03, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.03 |
Correlation (3Y) Balances recent behavior with more history. | -0.14 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.26 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.31 |
Correlation (All Time) Calculated using the full available price history since May 29, 2015 | -0.33 |
The correlation between GUSH and SOXS shifts across timeframes, from -0.33 (all time) to 0.03 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GUSH vs. SOXS — Risk / Return Rank
GUSH
SOXS
GUSH vs. SOXS - 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 Direxion Daily Semiconductor Bear 3x Shares (SOXS). 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 | SOXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.18 | ||
| Sortino ratioReturn per unit of downside risk | +4.44 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 0.73 | +0.51 |
| Calmar ratioReturn relative to maximum drawdown | 2.26 | -0.99 | +3.25 |
| Martin ratioReturn relative to average drawdown | 5.11 | -1.35 | +6.46 |
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Drawdowns
GUSH vs. SOXS - Drawdown Comparison
The maximum GUSH drawdown since its inception was -99.98%, roughly equal to the maximum SOXS drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for GUSH and SOXS.
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Drawdown Indicators
| GUSH | SOXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.98% | -100.00% | +0.02% |
Max Drawdown (1Y)Largest decline over 1 year | -36.18% | -97.89% | +61.71% |
Max Drawdown (3Y)Largest decline over 3 years | -63.59% | -99.87% | +36.28% |
Max Drawdown (5Y)Largest decline over 5 years | -73.64% | -99.98% | +26.34% |
Max Drawdown (10Y)Largest decline over 10 years | -99.94% | -100.00% | +0.06% |
Current DrawdownCurrent decline from peak | -99.78% | -100.00% | +0.22% |
Average DrawdownAverage peak-to-trough decline | -92.98% | -92.66% | -0.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.99% | 71.53% | -55.54% |
Volatility
GUSH vs. SOXS - Volatility Comparison
The current volatility for Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares (GUSH) is 17.07%, while Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a volatility of 53.53%. This indicates that GUSH experiences smaller price fluctuations and is considered to be less risky than SOXS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GUSH | SOXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.07% | 53.53% | -36.46% |
Volatility (6M)Calculated over the trailing 6-month period | 45.28% | 116.62% | -71.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 56.62% | 132.65% | -76.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 67.48% | 114.59% | -47.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 92.80% | 103.78% | -10.98% |
GUSH vs. SOXS - Expense Ratio Comparison
GUSH has a 1.17% expense ratio, which is higher than SOXS's 1.08% expense ratio.
Dividends
GUSH vs. SOXS - Dividend Comparison
GUSH's dividend yield for the trailing twelve months is around 1.22%, less than SOXS's 42.78% 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 | 1.22% | 2.60% | 2.96% | 3.00% | 0.47% | 0.00% | 0.20% | 1.68% | 0.17% | 0.00% | 3.26% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | 42.78% | 10.79% | 5.45% | 9.22% | 0.19% | 0.00% | 3.58% | 2.30% | 0.76% | 0.00% | 0.00% |
Frequently Asked Questions
GUSH and SOXS have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXS has higher volatility (53.53%) compared to GUSH (17.07%). In terms of maximum drawdown, GUSH dropped -99.98% vs SOXS's -100.00%.
On 10-year performance, GUSH leads with -35.47% vs -77.95% for SOXS. On fees, SOXS is cheaper at 1.08% per year. On volatility, GUSH has been the lower-risk option at 17.07%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, GUSH has performed better with a -35.47% return vs -77.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SOXS is cheaper with a 1.08% expense ratio, compared with 1.17% for GUSH.
SOXS has the higher dividend yield at 42.78%, compared with 1.22% for GUSH.
GUSH is categorized as Leveraged Equities, while SOXS is Inverse Equities. GUSH tracks S&P Oil & Gas Exploration & Production Select Industry Index (300%), while SOXS tracks PHLX Semiconductor Index (-300%). Their fees differ too: 1.17% for GUSH and 1.08% for SOXS.
GUSH currently has the higher Sharpe Ratio (1.45 vs -0.73), 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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