MMSD vs. GUSH
MMSD (NYLI MacKay Muni Short Duration ETF) and GUSH (Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares) are both exchange-traded funds - MMSD is a Municipal Bonds fund actively managed by NYLI, while GUSH is a Leveraged Equities fund tracking the S&P Oil & Gas Exploration & Production Select Industry Index (300%). MMSD is actively managed, while GUSH is passively managed. Over the past year, MMSD returned 4.73% vs 75.56% for GUSH. At a correlation of -0.18, they often move in opposite directions. MMSD charges 0.25%/yr vs 1.17%/yr for GUSH.
Performance
MMSD vs. GUSH - Performance Comparison
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Returns By Period
In the year-to-date period, MMSD achieves a 1.26% return, which is significantly lower than GUSH's 73.56% return.
MMSD
- 1D
- -0.09%
- 1M
- 0.20%
- YTD
- 1.26%
- 6M
- 1.63%
- 1Y
- 4.73%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GUSH
- 1D
- 2.27%
- 1M
- -12.07%
- YTD
- 73.56%
- 6M
- 49.07%
- 1Y
- 75.56%
- 3Y*
- 13.02%
- 5Y*
- 11.54%
- 10Y*
- -36.44%
MMSD vs. GUSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MMSD NYLI MacKay Muni Short Duration ETF | 1.26% | 3.66% |
GUSH Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares | 73.56% | 19.80% |
Correlation
The correlation between MMSD and GUSH is -0.21, 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 | -0.21 |
Correlation (All Time) Calculated using the full available price history since May 7, 2025 | -0.18 |
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Return for Risk
MMSD vs. GUSH — Risk / Return Rank
MMSD
GUSH
MMSD vs. GUSH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for NYLI MacKay Muni Short Duration ETF (MMSD) 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.
| MMSD | GUSH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.38 | ||
| Sortino ratioReturn per unit of downside risk | +2.54 | ||
| Omega ratioGain probability vs. loss probability | 1.62 | 1.23 | +0.39 |
| Calmar ratioReturn relative to maximum drawdown | 3.53 | 2.62 | +0.90 |
| Martin ratioReturn relative to average drawdown | 13.49 | 6.06 | +7.43 |
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
| MMSD | GUSH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.75 | 1.37 | +1.38 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.17 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.39 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.63 | -0.44 | +3.06 |
Drawdowns
MMSD vs. GUSH - Drawdown Comparison
The maximum MMSD drawdown since its inception was -1.35%, smaller than the maximum GUSH drawdown of -99.98%. Use the drawdown chart below to compare losses from any high point for MMSD and GUSH.
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Drawdown Indicators
| MMSD | GUSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.35% | -99.98% | +98.63% |
Max Drawdown (1Y)Largest decline over 1 year | -1.35% | -28.94% | +27.59% |
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 | -0.19% | -99.79% | +99.60% |
Average DrawdownAverage peak-to-trough decline | -0.22% | -92.92% | +92.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.35% | 12.52% | -12.17% |
Volatility
MMSD vs. GUSH - Volatility Comparison
The current volatility for NYLI MacKay Muni Short Duration ETF (MMSD) is 0.69%, while Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares (GUSH) has a volatility of 20.17%. This indicates that MMSD 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
| MMSD | GUSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.69% | 20.17% | -19.48% |
Volatility (6M)Calculated over the trailing 6-month period | 1.43% | 43.47% | -42.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.73% | 55.62% | -53.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.76% | 68.21% | -66.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.76% | 93.72% | -91.96% |
MMSD vs. GUSH - Expense Ratio Comparison
MMSD has a 0.25% expense ratio, which is lower than GUSH's 1.17% expense ratio.
Dividends
MMSD vs. GUSH - Dividend Comparison
MMSD's dividend yield for the trailing twelve months is around 3.57%, more than GUSH's 1.44% 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 | 1.44% | 2.60% | 2.96% | 3.00% | 0.47% | 0.00% | 0.20% | 1.68% | 0.17% | 0.00% | 3.26% |
MMSD NYLI MacKay Muni Short Duration ETF | 3.57% | 2.30% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MMSD 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 (20.17%) compared to MMSD (0.69%). In terms of maximum drawdown, MMSD dropped -1.35% vs GUSH's -99.98%.
On 1-year performance, GUSH leads with 75.56% vs 4.73% for MMSD. On fees, MMSD is cheaper at 0.25% per year. On volatility, MMSD has been the lower-risk option at 0.69%. 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 75.56% return vs 4.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MMSD is cheaper with a 0.25% expense ratio, compared with 1.17% for GUSH.
MMSD has the higher dividend yield at 3.57%, compared with 1.44% for GUSH.
MMSD is categorized as Municipal Bonds, while GUSH is Leveraged Equities. They also come from different issuers: NYLI and Direxion. Their fees differ too: 0.25% for MMSD and 1.17% for GUSH.
MMSD currently has the higher Sharpe Ratio (2.75 vs 1.37), 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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