JETU vs. GUSH
JETU (MAX Airlines 3X Leveraged ETN) and GUSH (Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares) are both Leveraged Equities funds - JETU tracks the Prime Airlines Index - Benchmark TR Net while GUSH tracks the S&P Oil & Gas Exploration & Production Select Industry Index (300%). Both are passively managed. Over the past year, JETU returned 45.84% vs 84.57% for GUSH. At a 0.14 correlation, their price movements are largely independent. JETU charges 0.95%/yr vs 1.17%/yr for GUSH.
Performance
JETU vs. GUSH - Performance Comparison
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Returns By Period
In the year-to-date period, JETU achieves a 0.25% return, which is significantly lower than GUSH's 73.60% return.
JETU
- 1D
- 2.80%
- 1M
- 20.37%
- YTD
- 0.25%
- 6M
- 15.97%
- 1Y
- 45.84%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GUSH
- 1D
- 0.03%
- 1M
- -11.53%
- YTD
- 73.60%
- 6M
- 49.22%
- 1Y
- 84.57%
- 3Y*
- 14.08%
- 5Y*
- 11.55%
- 10Y*
- -36.93%
JETU vs. GUSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
JETU MAX Airlines 3X Leveraged ETN | 0.25% | 3.88% | 38.00% | -16.85% |
GUSH Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares | 73.60% | -19.39% | -12.73% | 15.25% |
Correlation
The correlation between JETU and GUSH is -0.16, 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 | -0.16 |
Correlation (All Time) Calculated using the full available price history since Jun 22, 2023 | 0.14 |
The correlation between JETU and GUSH shifts across timeframes, from -0.16 (1 year) to 0.14 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
JETU vs. GUSH — Risk / Return Rank
JETU
GUSH
JETU vs. GUSH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MAX Airlines 3X Leveraged ETN (JETU) and Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares (GUSH). 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.
| JETU | GUSH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.91 | ||
| Sortino ratioReturn per unit of downside risk | -0.58 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.25 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 0.93 | 2.94 | -2.00 |
| Martin ratioReturn relative to average drawdown | 2.33 | 6.75 | -4.42 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| JETU | GUSH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.63 | 1.54 | -0.91 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.17 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.40 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.09 | -0.44 | +0.52 |
Drawdowns
JETU vs. GUSH - Drawdown Comparison
The maximum JETU drawdown since its inception was -68.64%, smaller than the maximum GUSH drawdown of -99.98%. Use the drawdown chart below to compare losses from any high point for JETU and GUSH.
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Drawdown Indicators
| JETU | GUSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.64% | -99.98% | +31.34% |
Max Drawdown (1Y)Largest decline over 1 year | -49.39% | -28.94% | -20.45% |
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 | -28.20% | -99.79% | +71.59% |
Average DrawdownAverage peak-to-trough decline | -29.52% | -92.92% | +63.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.77% | 12.58% | +7.19% |
Volatility
JETU vs. GUSH - Volatility Comparison
MAX Airlines 3X Leveraged ETN (JETU) has a higher volatility of 25.97% compared to Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares (GUSH) at 20.18%. This indicates that JETU's price experiences larger fluctuations and is considered to be riskier than GUSH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JETU | GUSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 25.97% | 20.18% | +5.79% |
Volatility (6M)Calculated over the trailing 6-month period | 57.00% | 43.32% | +13.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 73.02% | 55.49% | +17.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 70.57% | 68.21% | +2.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 70.57% | 93.70% | -23.13% |
JETU vs. GUSH - Expense Ratio Comparison
JETU has a 0.95% expense ratio, which is lower than GUSH's 1.17% expense ratio.
Dividends
JETU vs. GUSH - Dividend Comparison
JETU has not paid dividends to shareholders, while GUSH's dividend yield for the trailing twelve months is around 1.44%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
GUSH Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares | 1.44% | 2.60% | 2.96% | 3.00% | 0.47% | 0.00% | 0.20% | 1.68% | 0.17% | 0.00% | 3.26% |
JETU MAX Airlines 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
JETU and GUSH have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JETU has higher volatility (25.97%) compared to GUSH (20.18%). In terms of maximum drawdown, JETU dropped -68.64% vs GUSH's -99.98%.
On 1-year performance, GUSH leads with 84.57% vs 45.84% for JETU. On fees, JETU is cheaper at 0.95% per year. On volatility, GUSH has been the lower-risk option at 20.18%. 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 84.57% return vs 45.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JETU is cheaper with a 0.95% expense ratio, compared with 1.17% for GUSH.
GUSH has the higher dividend yield at 1.44%, compared with 0.00% for JETU.
JETU tracks Prime Airlines Index - Benchmark TR Net, while GUSH tracks S&P Oil & Gas Exploration & Production Select Industry Index (300%). They also come from different issuers: Max and Direxion. Their fees differ too: 0.95% for JETU and 1.17% for GUSH.
GUSH currently has the higher Sharpe Ratio (1.54 vs 0.63), 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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