MBNE vs. GUSH
MBNE (SPDR Nuveen Municipal Bond ESG ETF) and GUSH (Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares) are both exchange-traded funds - MBNE is a Municipal Bonds fund actively managed by State Street, while GUSH is a Leveraged Equities fund tracking the S&P Oil & Gas Exploration & Production Select Industry Index (300%). MBNE is actively managed, while GUSH is passively managed. Over the past 3 years, MBNE returned 2.76%/yr vs 5.22%/yr for GUSH. Their -0.03 correlation means they have often moved in opposite directions in the past. MBNE charges 0.43%/yr vs 1.17%/yr for GUSH.
Performance
MBNE vs. GUSH - Performance Comparison
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Returns By Period
In the year-to-date period, MBNE achieves a 0.84% return, which is significantly lower than GUSH's 84.27% return.
MBNE
- 1D
- 0.00%
- 1M
- 0.00%
- 6M
- 0.21%
- YTD
- 0.84%
- 1Y
- 4.38%
- 3Y*
- 2.76%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 2.19%
GUSH
- 1D
- 2.66%
- 1M
- 29.75%
- 6M
- 50.64%
- YTD
- 84.27%
- 1Y
- 87.82%
- 3Y*
- 5.22%
- 5Y*
- 20.49%
- 10Y*
- -34.13%
- ALL TIME*
- -41.90%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $34.81M | $32.68M | $31.93M | |
| $0.00 | $0.00 | $17.11K |
MBNE vs. GUSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
MBNE SPDR Nuveen Municipal Bond ESG ETF | 0.84% | 2.45% | 1.27% | 5.82% | -0.83% |
GUSH Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares | 84.27% | -19.39% | -12.73% | -7.23% | -18.01% |
Correlation
The correlation between MBNE and GUSH is -0.21, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.21 |
Correlation (3Y) Balances recent behavior with more history. | -0.07 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2022 | -0.03 |
The correlation between MBNE and GUSH shifts across timeframes, from -0.21 (1 year) to -0.03 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
MBNE vs. GUSH — Risk / Return Rank
MBNE
GUSH
MBNE vs. GUSH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Nuveen Municipal Bond ESG ETF (MBNE) 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.
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.
| MBNE | GUSH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.62 | ||
| Sortino ratioReturn per unit of downside risk | +0.96 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.22 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 2.40 | 2.07 | +0.33 |
| Martin ratioReturn relative to average drawdown | 6.52 | 4.68 | +1.84 |
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Drawdowns
MBNE vs. GUSH - Drawdown Comparison
The maximum MBNE drawdown since its inception was -6.19%, smaller than the maximum GUSH drawdown of -99.98%. Use the drawdown chart below to compare losses from any high point for MBNE and GUSH.
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Drawdown Indicators
| MBNE | GUSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.19% | -99.98% | +93.79% |
Max Drawdown (1Y)Largest decline over 1 year | -2.02% | -36.18% | +34.16% |
Max Drawdown (3Y)Largest decline over 3 years | -4.98% | -63.59% | +58.61% |
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 | -1.04% | -99.77% | +98.73% |
Average DrawdownAverage peak-to-trough decline | -1.39% | -92.98% | +91.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.74% | 16.04% | -15.30% |
Volatility
MBNE vs. GUSH - Volatility Comparison
The current volatility for SPDR Nuveen Municipal Bond ESG ETF (MBNE) is 0.00%, while Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares (GUSH) has a volatility of 16.40%. This indicates that MBNE experiences smaller price fluctuations and is considered to be less risky 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
| MBNE | GUSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.00% | 16.40% | -16.40% |
Volatility (6M)Calculated over the trailing 6-month period | 1.79% | 45.15% | -43.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.50% | 56.92% | -54.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.63% | 67.48% | -63.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.63% | 92.83% | -89.20% |
MBNE vs. GUSH - Expense Ratio Comparison
MBNE has a 0.43% expense ratio, which is lower than GUSH's 1.17% expense ratio.
Dividends
MBNE vs. GUSH - Dividend Comparison
MBNE's dividend yield for the trailing twelve months is around 2.84%, more than GUSH's 1.18% 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 | 1.18% | 2.60% | 2.96% | 3.00% | 0.47% | 0.00% | 0.20% | 1.68% | 0.17% | 0.00% | 3.26% |
MBNE SPDR Nuveen Municipal Bond ESG ETF | 2.54% | 3.63% | 3.32% | 3.01% | 1.81% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MBNE and GUSH have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GUSH has higher volatility (16.40%) compared to MBNE (0.00%). In terms of maximum drawdown, MBNE dropped -6.19% vs GUSH's -99.98%.
On 3-year performance, GUSH leads with 5.22% vs 2.76% for MBNE. On fees, MBNE is cheaper at 0.43% per year. On volatility, MBNE has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, GUSH has performed better with a 5.22% return vs 2.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MBNE is cheaper with a 0.43% expense ratio, compared with 1.17% for GUSH.
MBNE has the higher dividend yield at 2.54%, compared with 1.18% for GUSH.
MBNE is categorized as Municipal Bonds, while GUSH is Leveraged Equities. They also come from different issuers: State Street and Direxion. Their fees differ too: 0.43% for MBNE and 1.17% for GUSH.
MBNE currently has the higher Sharpe Ratio (1.94 vs 1.32), 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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