OILU vs. GUSH
OILU (MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN) and GUSH (Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares) are both exchange-traded funds - OILU is a Leveraged Commodities fund managed by BMO, while GUSH is a Leveraged Equities fund tracking the S&P Oil & Gas Exploration & Production Select Industry Index (300%). Over the past 3 years, OILU returned 4.85%/yr vs 6.88%/yr for GUSH. Their correlation of 0.93 suggests significant overlap in exposure. OILU charges 0.95%/yr vs 1.17%/yr for GUSH.
Performance
OILU vs. GUSH - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, OILU achieves a 53.67% return, which is significantly higher than GUSH's 42.54% return.
OILU
- 1D
- 1.46%
- 1M
- -25.16%
- YTD
- 53.67%
- 6M
- 54.81%
- 1Y
- 54.07%
- 3Y*
- 4.85%
- 5Y*
- —
- 10Y*
- —
GUSH
- 1D
- -0.22%
- 1M
- -19.15%
- YTD
- 42.54%
- 6M
- 41.51%
- 1Y
- 31.85%
- 3Y*
- 6.88%
- 5Y*
- 6.25%
- 10Y*
- -37.01%
OILU vs. GUSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
OILU MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN | 53.67% | -16.50% | -21.65% | -32.50% | 151.08% | -16.79% |
GUSH Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares | 42.54% | -19.39% | -12.73% | -7.23% | 66.47% | -27.56% |
Correlation
The correlation between OILU and GUSH is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Nov 9, 2021 | 0.93 |
The correlation between OILU and GUSH has been stable across timeframes, ranging from 0.91 to 0.93 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
OILU vs. GUSH — Risk / Return Rank
OILU
GUSH
OILU vs. GUSH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU) 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.
| OILU | GUSH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.29 | ||
| Sortino ratioReturn per unit of downside risk | +0.34 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.13 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.24 | 0.88 | +0.36 |
| Martin ratioReturn relative to average drawdown | 3.58 | 2.32 | +1.26 |
Loading charts...
Drawdowns
OILU vs. GUSH - Drawdown Comparison
The maximum OILU drawdown since its inception was -81.00%, smaller than the maximum GUSH drawdown of -99.98%. Use the drawdown chart below to compare losses from any high point for OILU and GUSH.
Loading charts...
Drawdown Indicators
| OILU | GUSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.00% | -99.98% | +18.98% |
Max Drawdown (1Y)Largest decline over 1 year | -43.74% | -36.18% | -7.56% |
Max Drawdown (3Y)Largest decline over 3 years | -69.09% | -63.59% | -5.50% |
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 | -58.67% | -99.83% | +41.16% |
Average DrawdownAverage peak-to-trough decline | -50.58% | -92.92% | +42.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.16% | 13.77% | +1.39% |
Volatility
OILU vs. GUSH - Volatility Comparison
MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU) has a higher volatility of 21.87% compared to Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares (GUSH) at 18.01%. This indicates that OILU'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.
Loading charts...
Volatility by Period
| OILU | GUSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.87% | 18.01% | +3.86% |
Volatility (6M)Calculated over the trailing 6-month period | 50.75% | 44.07% | +6.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 63.57% | 56.58% | +6.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 81.10% | 68.20% | +12.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 81.10% | 93.43% | -12.33% |
OILU vs. GUSH - Expense Ratio Comparison
OILU has a 0.95% expense ratio, which is lower than GUSH's 1.17% expense ratio.
Dividends
OILU vs. GUSH - Dividend Comparison
OILU has not paid dividends to shareholders, while GUSH's dividend yield for the trailing twelve months is around 1.75%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
GUSH Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares | 1.75% | 2.60% | 2.96% | 3.00% | 0.47% | 0.00% | 0.20% | 1.68% | 0.17% | 0.00% | 3.26% |
OILU MicroSectors Oil & Gas Exploration & Production 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
With a correlation of 0.91, OILU and GUSH move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
OILU has higher volatility (21.87%) compared to GUSH (18.01%). In terms of maximum drawdown, OILU dropped -81.00% vs GUSH's -99.98%.
On 3-year performance, GUSH leads with 6.88% vs 4.85% for OILU. On fees, OILU is cheaper at 0.95% per year. On volatility, GUSH has been the lower-risk option at 18.01%. 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 6.88% return vs 4.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
OILU is cheaper with a 0.95% expense ratio, compared with 1.17% for GUSH.
GUSH has the higher dividend yield at 1.75%, compared with 0.00% for OILU.
OILU is categorized as Leveraged Commodities, while GUSH is Leveraged Equities. They also come from different issuers: BMO and Direxion. Their fees differ too: 0.95% for OILU and 1.17% for GUSH.
OILU currently has the higher Sharpe Ratio (0.86 vs 0.57), 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.
Find the right allocation for OILU and GUSH
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer