GUSH vs. UMDD

Last updated Jun 13, 2026

GUSH (Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares) and UMDD (ProShares UltraPro MidCap400) are both Leveraged Equities funds - GUSH tracks the S&P Oil & Gas Exploration & Production Select Industry Index (300%) while UMDD tracks the S&P MidCap 400 Index (300%). Both are passively managed. Over the past 10 years, GUSH returned -36.52%/yr vs 12.78%/yr for UMDD. A 0.55 correlation means they provide meaningful diversification when combined. GUSH charges 1.17%/yr vs 0.95%/yr for UMDD.

Performance

GUSH vs. UMDD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares (GUSH) and ProShares UltraPro MidCap400 (UMDD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GUSH achieves a 61.19% return, which is significantly higher than UMDD's 41.42% return. Over the past 10 years, GUSH has underperformed UMDD with an annualized return of -36.52%, while UMDD has yielded a comparatively higher 12.78% annualized return.

GUSH

• 1D: 2.06%
• 1M: -5.00%
• YTD: 61.19%
• 6M: 49.15%
• 1Y: 49.53%
• 3Y*: 8.93%
• 5Y*: 9.46%
• 10Y*: -36.52%

UMDD

• 1D: 2.20%
• 1M: 10.73%
• YTD: 41.42%
• 6M: 35.75%
• 1Y: 66.43%
• 3Y*: 23.57%
• 5Y*: 2.41%
• 10Y*: 12.78%

*Multi-year figures are annualized to reflect compound growth (CAGR)

GUSH vs. UMDD - 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	61.19%	-19.39%	-12.73%	-7.23%	66.47%	129.94%	-97.38%	-52.68%	-74.28%	-40.21%
UMDD ProShares UltraPro MidCap400	41.42%	-2.57%	19.68%	27.21%	-49.60%	72.27%	-17.30%	78.90%	-40.29%	49.17%

Correlation

The correlation between GUSH and UMDD is 0.06, 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	0.06
Correlation (3Y) Calculated over the trailing 3-year period	0.36
Correlation (5Y) Calculated over the trailing 5-year period	0.49
Correlation (10Y) Calculated over the trailing 10-year period	0.54
Correlation (All Time) Calculated using the full available price history since May 29, 2015	0.55

Over the past year, the correlation between GUSH and UMDD has dropped to 0.06 - well below their long-term average of 0.55, suggesting their price drivers have been diverging.

GUSH vs. UMDD - Sectors Allocation Comparison

Sectors	GUSH	UMDD
Energy	97.2%	2.7%
Basic Materials	2.9%	2.6%
Communication Services	-	0.5%
Consumer Cyclical	-	5.1%
Consumer Defensive	-	2.2%
Financial Services	-	7.1%
Healthcare	-	4.8%
Industrials	-	13.4%
Real Estate	-	3.9%
Technology	-	9.0%
Utilities	-	1.6%

Return for Risk

GUSH vs. UMDD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GUSH

GUSH Risk / Return Rank: 31
GUSH Sharpe Ratio Rank: 28
GUSH Sortino Ratio Rank: 28
GUSH Omega Ratio Rank: 28
GUSH Calmar Ratio Rank: 40
GUSH Martin Ratio Rank: 30

UMDD

UMDD Risk / Return Rank: 49
UMDD Sharpe Ratio Rank: 45
UMDD Sortino Ratio Rank: 45
UMDD Omega Ratio Rank: 43
UMDD Calmar Ratio Rank: 58
UMDD Martin Ratio Rank: 56

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

GUSH vs. UMDD - 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 UltraPro MidCap400 (UMDD). 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	UMDD	Difference
Sharpe ratio: Return per unit of total volatility	0.89	1.40	-0.51
Sortino ratio: Return per unit of downside risk	1.40	2.01	-0.61
Omega ratio: Gain probability vs. loss probability	1.17	1.24	-0.07
Calmar ratio: Return relative to maximum drawdown	1.72	2.56	-0.84
Martin ratio: Return relative to average drawdown	3.77	8.58	-4.81

GUSH vs. UMDD - Sharpe Ratio Comparison

The current GUSH Sharpe Ratio is 0.89, which is lower than the UMDD Sharpe Ratio of 1.40. The chart below compares the historical Sharpe Ratios of GUSH and UMDD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GUSH vs. UMDD - Drawdown Comparison

The maximum GUSH drawdown since its inception was -99.98%, which is greater than UMDD's maximum drawdown of -86.24%. Use the drawdown chart below to compare losses from any high point for GUSH and UMDD.

Drawdown Indicators

	GUSH	UMDD	Difference
Max Drawdown Largest peak-to-trough decline	-99.98%	-86.24%	-13.74%
Max Drawdown (1Y) Largest decline over 1 year	-28.94%	-26.04%	-2.90%
Max Drawdown (3Y) Largest decline over 3 years	-63.59%	-60.33%	-3.26%
Max Drawdown (5Y) Largest decline over 5 years	-73.64%	-64.61%	-9.03%
Max Drawdown (10Y) Largest decline over 10 years	-99.94%	-86.24%	-13.70%
Current Drawdown Current decline from peak	-99.80%	-3.15%	-96.65%
Average Drawdown Average peak-to-trough decline	-92.90%	-23.58%	-69.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.16%	7.78%	+5.38%

Volatility

GUSH vs. UMDD - Volatility Comparison

Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares (GUSH) has a higher volatility of 18.07% compared to ProShares UltraPro MidCap400 (UMDD) at 14.80%. This indicates that GUSH's price experiences larger fluctuations and is considered to be riskier than UMDD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GUSH	UMDD	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.07%	14.80%	+3.27%
Volatility (6M) Calculated over the trailing 6-month period	44.41%	35.26%	+9.15%
Volatility (1Y) Calculated over the trailing 1-year period	56.06%	47.64%	+8.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	68.35%	59.05%	+9.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	93.58%	62.32%	+31.26%

GUSH vs. UMDD - Expense Ratio Comparison

GUSH has a 1.17% expense ratio, which is higher than UMDD's 0.95% expense ratio.

Dividends

GUSH vs. UMDD - Dividend Comparison

GUSH's dividend yield for the trailing twelve months is around 1.55%, more than UMDD's 0.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GUSH Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares	1.55%	2.60%	2.96%	3.00%	0.47%	0.00%	0.20%	1.68%	0.17%	0.00%	3.26%	0.00%
UMDD ProShares UltraPro MidCap400	0.74%	1.00%	0.76%	0.19%	0.49%	0.06%	0.08%	0.64%	0.32%	0.00%	0.03%	0.06%

Frequently Asked Questions

Can I hold both GUSH and UMDD in my portfolio?

GUSH and UMDD have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GUSH or UMDD?

GUSH has higher volatility (18.07%) compared to UMDD (14.80%). In terms of maximum drawdown, GUSH dropped -99.98% vs UMDD's -86.24%.

Which ETF is better, GUSH or UMDD?

On 10-year performance, UMDD leads with 12.78% vs -36.52% for GUSH. On fees, UMDD is cheaper at 0.95% per year. On volatility, UMDD has been the lower-risk option at 14.80%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GUSH or UMDD?

Over the 10-year period, UMDD has performed better with a 12.78% return vs -36.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GUSH or UMDD?

UMDD is cheaper with a 0.95% expense ratio, compared with 1.17% for GUSH.

Which ETF pays a higher dividend yield, GUSH or UMDD?

GUSH has the higher dividend yield at 1.55%, compared with 0.74% for UMDD.

What is the main difference between GUSH and UMDD?

GUSH tracks S&P Oil & Gas Exploration & Production Select Industry Index (300%), while UMDD tracks S&P MidCap 400 Index (300%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.17% for GUSH and 0.95% for UMDD.

Which has better risk-adjusted returns?

UMDD currently has the higher Sharpe Ratio (1.40 vs 0.89), 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.