NVDQ vs. GUSH
NVDQ (T-Rex 2X Inverse NVIDIA Daily Target ETF) and GUSH (Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares) are both exchange-traded funds - NVDQ is a Inverse Equities fund actively managed by T-Rex, while GUSH is a Leveraged Equities fund tracking the S&P Oil & Gas Exploration & Production Select Industry Index (300%). NVDQ is actively managed, while GUSH is passively managed. Over the past year, NVDQ returned -69.65% vs 84.57% for GUSH. At a correlation of -0.05, they often move in opposite directions. NVDQ charges 1.05%/yr vs 1.17%/yr for GUSH.
Performance
NVDQ vs. GUSH - Performance Comparison
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Returns By Period
In the year-to-date period, NVDQ achieves a -38.57% return, which is significantly lower than GUSH's 73.60% return.
NVDQ
- 1D
- -3.82%
- 1M
- -23.21%
- YTD
- -38.57%
- 6M
- -41.67%
- 1Y
- -69.65%
- 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%
NVDQ vs. GUSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
NVDQ T-Rex 2X Inverse NVIDIA Daily Target ETF | -38.57% | -74.63% | -93.80% | -30.70% |
GUSH Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares | 73.60% | -19.39% | -12.73% | -20.34% |
Correlation
The correlation between NVDQ and GUSH is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Oct 20, 2023 | -0.05 |
The correlation between NVDQ and GUSH shifts across timeframes, from -0.05 (all time) to 0.12 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
NVDQ vs. GUSH — Risk / Return Rank
NVDQ
GUSH
NVDQ vs. GUSH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T-Rex 2X Inverse NVIDIA Daily Target ETF (NVDQ) 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.
| NVDQ | GUSH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.57 | ||
| Sortino ratioReturn per unit of downside risk | -3.84 | ||
| Omega ratioGain probability vs. loss probability | 0.79 | 1.25 | -0.45 |
| Calmar ratioReturn relative to maximum drawdown | -0.95 | 2.94 | -3.89 |
| Martin ratioReturn relative to average drawdown | -1.43 | 6.75 | -8.17 |
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
| NVDQ | GUSH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.03 | 1.54 | -2.57 |
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 | -0.89 | -0.44 | -0.46 |
Drawdowns
NVDQ vs. GUSH - Drawdown Comparison
The maximum NVDQ drawdown since its inception was -99.45%, roughly equal to the maximum GUSH drawdown of -99.98%. Use the drawdown chart below to compare losses from any high point for NVDQ and GUSH.
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Drawdown Indicators
| NVDQ | GUSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.45% | -99.98% | +0.53% |
Max Drawdown (1Y)Largest decline over 1 year | -73.67% | -28.94% | -44.73% |
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 | -99.38% | -99.79% | +0.41% |
Average DrawdownAverage peak-to-trough decline | -88.22% | -92.92% | +4.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 48.77% | 12.58% | +36.19% |
Volatility
NVDQ vs. GUSH - Volatility Comparison
T-Rex 2X Inverse NVIDIA Daily Target ETF (NVDQ) has a higher volatility of 25.78% compared to Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares (GUSH) at 20.18%. This indicates that NVDQ'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
| NVDQ | GUSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 25.78% | 20.18% | +5.60% |
Volatility (6M)Calculated over the trailing 6-month period | 51.89% | 43.32% | +8.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 67.77% | 55.49% | +12.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 95.47% | 68.21% | +27.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 95.47% | 93.70% | +1.77% |
NVDQ vs. GUSH - Expense Ratio Comparison
NVDQ has a 1.05% expense ratio, which is lower than GUSH's 1.17% expense ratio.
Dividends
NVDQ vs. GUSH - Dividend Comparison
NVDQ's dividend yield for the trailing twelve months is around 0.42%, less 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% |
NVDQ T-Rex 2X Inverse NVIDIA Daily Target ETF | 0.42% | 0.26% | 4.59% | 11.60% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
NVDQ and GUSH have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NVDQ has higher volatility (25.78%) compared to GUSH (20.18%). In terms of maximum drawdown, NVDQ dropped -99.45% vs GUSH's -99.98%.
On 1-year performance, GUSH leads with 84.57% vs -69.65% for NVDQ. On fees, NVDQ is cheaper at 1.05% 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 -69.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NVDQ is cheaper with a 1.05% expense ratio, compared with 1.17% for GUSH.
GUSH has the higher dividend yield at 1.44%, compared with 0.42% for NVDQ.
NVDQ is categorized as Inverse Equities, while GUSH is Leveraged Equities. They also come from different issuers: T-Rex and Direxion. Their fees differ too: 1.05% for NVDQ and 1.17% for GUSH.
GUSH currently has the higher Sharpe Ratio (1.54 vs -1.03), 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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