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 -37.01%/yr vs -79.54%/yr for SOXS. At a correlation of -0.34, they often move in opposite directions. 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 42.54% return, which is significantly higher than SOXS's -93.50% return. Over the past 10 years, GUSH has outperformed SOXS with an annualized return of -37.01%, while SOXS has yielded a comparatively lower -79.54% annualized 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%
SOXS
- 1D
- 22.42%
- 1M
- -47.74%
- YTD
- -93.50%
- 6M
- -93.24%
- 1Y
- -97.76%
- 3Y*
- -87.41%
- 5Y*
- -80.25%
- 10Y*
- -79.54%
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 | 42.54% | -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 | -93.50% | -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 0.00, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.00 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.27 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.32 |
Correlation (All Time) Calculated using the full available price history since May 29, 2015 | -0.34 |
The correlation between GUSH and SOXS shifts across timeframes, from -0.34 (all time) to 0.00 (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 | +1.40 | ||
| Sortino ratioReturn per unit of downside risk | +4.49 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 0.63 | +0.50 |
| Calmar ratioReturn relative to maximum drawdown | 0.88 | -1.00 | +1.88 |
| Martin ratioReturn relative to average drawdown | 2.32 | -1.51 | +3.83 |
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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% | -97.94% | +61.76% |
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 | -99.83% | -100.00% | +0.17% |
Average DrawdownAverage peak-to-trough decline | -92.92% | -92.61% | -0.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.77% | 67.48% | -53.71% |
Volatility
GUSH vs. SOXS - Volatility Comparison
The current volatility for Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares (GUSH) is 18.01%, while Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a volatility of 66.67%. 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 | 18.01% | 66.67% | -48.66% |
Volatility (6M)Calculated over the trailing 6-month period | 44.07% | 100.39% | -56.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 56.58% | 117.32% | -60.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 68.20% | 111.39% | -43.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 93.43% | 102.09% | -8.66% |
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 1.75%, less than SOXS's 83.05% 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% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | 83.05% | 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 0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXS has higher volatility (66.67%) compared to GUSH (18.01%). In terms of maximum drawdown, GUSH dropped -99.98% vs SOXS's -100.00%.
On 10-year performance, GUSH leads with -37.01% vs -79.54% for SOXS. On fees, SOXS is cheaper at 1.08% 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 10-year period, GUSH has performed better with a -37.01% return vs -79.54%. 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 83.05%, compared with 1.75% 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 (0.57 vs -0.83), 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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