PILL vs. GUSH

Last updated Jun 5, 2026

PILL (Direxion Daily Pharmaceutical & Medical Bull 3X Shares) and GUSH (Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares) are both Leveraged Equities funds from Direxion - PILL tracks the Dynamic Pharmaceuticals Intellidex Index while GUSH tracks the S&P Oil & Gas Exploration & Production Select Industry Index (300%). Both are passively managed. Over the past 5 years, PILL returned -10.52%/yr vs 11.55%/yr for GUSH. At a 0.38 correlation, their price movements are largely independent. PILL charges 0.98%/yr vs 1.17%/yr for GUSH.

Performance

PILL vs. GUSH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Pharmaceutical & Medical Bull 3X Shares (PILL) and Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares (GUSH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PILL achieves a -1.69% return, which is significantly lower than GUSH's 73.60% return.

PILL

• 1D: 8.24%
• 1M: -11.70%
• YTD: -1.69%
• 6M: 7.86%
• 1Y: 123.35%
• 3Y*: 16.40%
• 5Y*: -10.52%
• 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%

*Multi-year figures are annualized to reflect compound growth (CAGR)

PILL vs. GUSH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PILL Direxion Daily Pharmaceutical & Medical Bull 3X Shares	-1.69%	75.14%	-7.26%	-12.06%	-43.16%	-37.33%	0.28%	19.26%	-21.15%	16.39%
GUSH Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares	73.60%	-19.39%	-12.73%	-7.23%	66.47%	129.94%	-97.38%	-52.68%	-74.28%	26.99%

Correlation

The correlation between PILL and GUSH is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.09
Correlation (3Y) Calculated over the trailing 3-year period	0.17
Correlation (5Y) Calculated over the trailing 5-year period	0.28
Correlation (All Time) Calculated using the full available price history since Nov 16, 2017	0.38

The correlation between PILL and GUSH shifts across timeframes, from -0.09 (1 year) to 0.38 (all time), reflecting how their relationship changes across market environments.

PILL vs. GUSH - Sectors Allocation Comparison

Sectors	PILL	GUSH
Healthcare	100.0%	-
Basic Materials	-	2.9%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	97.2%
Financial Services	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

PILL vs. GUSH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PILL

PILL Risk / Return Rank: 61
PILL Sharpe Ratio Rank: 60
PILL Sortino Ratio Rank: 52
PILL Omega Ratio Rank: 49
PILL Calmar Ratio Rank: 75
PILL Martin Ratio Rank: 68

GUSH

GUSH Risk / Return Rank: 45
GUSH Sharpe Ratio Rank: 45
GUSH Sortino Ratio Rank: 39
GUSH Omega Ratio Rank: 39
GUSH Calmar Ratio Rank: 60
GUSH Martin Ratio Rank: 43

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PILL vs. GUSH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Pharmaceutical & Medical Bull 3X Shares (PILL) 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.

	PILL	GUSH	Difference
Sharpe ratio: Return per unit of total volatility	1.99	1.54	+0.46
Sortino ratio: Return per unit of downside risk	2.51	1.98	+0.54
Omega ratio: Gain probability vs. loss probability	1.30	1.25	+0.05
Calmar ratio: Return relative to maximum drawdown	3.74	2.94	+0.80
Martin ratio: Return relative to average drawdown	12.24	6.75	+5.49
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PILL vs. GUSH - Sharpe Ratio Comparison

The current PILL Sharpe Ratio is 1.99, which is comparable to the GUSH Sharpe Ratio of 1.54. The chart below compares the historical Sharpe Ratios of PILL and GUSH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PILL	GUSH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.99	1.54	+0.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.17	0.17	-0.34
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.40	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.11	-0.44	+0.33

Drawdowns

PILL vs. GUSH - Drawdown Comparison

The maximum PILL drawdown since its inception was -88.76%, smaller than the maximum GUSH drawdown of -99.98%. Use the drawdown chart below to compare losses from any high point for PILL and GUSH.

Drawdown Indicators

	PILL	GUSH	Difference
Max Drawdown Largest peak-to-trough decline	-88.76%	-99.98%	+11.22%
Max Drawdown (1Y) Largest decline over 1 year	-33.21%	-28.94%	-4.27%
Max Drawdown (3Y) Largest decline over 3 years	-60.43%	-63.59%	+3.16%
Max Drawdown (5Y) Largest decline over 5 years	-83.38%	-73.64%	-9.74%
Max Drawdown (10Y) Largest decline over 10 years	—	-99.94%	—
Current Drawdown Current decline from peak	-66.31%	-99.79%	+33.48%
Average Drawdown Average peak-to-trough decline	-58.54%	-92.92%	+34.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.12%	12.58%	-2.46%

Volatility

PILL vs. GUSH - Volatility Comparison

Direxion Daily Pharmaceutical & Medical Bull 3X Shares (PILL) has a higher volatility of 22.02% compared to Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares (GUSH) at 20.18%. This indicates that PILL'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.

Volatility by Period

	PILL	GUSH	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.02%	20.18%	+1.84%
Volatility (6M) Calculated over the trailing 6-month period	48.70%	43.32%	+5.38%
Volatility (1Y) Calculated over the trailing 1-year period	62.21%	55.49%	+6.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	60.53%	68.21%	-7.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	63.83%	93.70%	-29.87%

PILL vs. GUSH - Expense Ratio Comparison

PILL has a 0.98% expense ratio, which is lower than GUSH's 1.17% expense ratio.

Dividends

PILL vs. GUSH - Dividend Comparison

PILL's dividend yield for the trailing twelve months is around 0.64%, 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%
PILL Direxion Daily Pharmaceutical & Medical Bull 3X Shares	0.64%	0.69%	1.28%	1.83%	0.67%	0.00%	0.00%	0.38%	0.91%	0.10%	0.00%

Frequently Asked Questions

Can I hold both PILL and GUSH in my portfolio?

PILL and GUSH have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PILL or GUSH?

PILL has higher volatility (22.02%) compared to GUSH (20.18%). In terms of maximum drawdown, PILL dropped -88.76% vs GUSH's -99.98%.

Which ETF is better, PILL or GUSH?

On 5-year performance, GUSH leads with 11.55% vs -10.52% for PILL. On fees, PILL is cheaper at 0.98% 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.

Which ETF has performed better, PILL or GUSH?

Over the 5-year period, GUSH has performed better with a 11.55% return vs -10.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PILL or GUSH?

PILL is cheaper with a 0.98% expense ratio, compared with 1.17% for GUSH.

Which ETF pays a higher dividend yield, PILL or GUSH?

GUSH has the higher dividend yield at 1.44%, compared with 0.64% for PILL.

What is the main difference between PILL and GUSH?

PILL tracks Dynamic Pharmaceuticals Intellidex Index, while GUSH tracks S&P Oil & Gas Exploration & Production Select Industry Index (300%). Their fees differ too: 0.98% for PILL and 1.17% for GUSH.

Which has better risk-adjusted returns?

PILL currently has the higher Sharpe Ratio (1.99 vs 1.54), 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.