SIJ vs. GUSH
SIJ (ProShares UltraShort Industrials) and GUSH (Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares) are both Leveraged Equities funds - SIJ tracks the DJ Global United States (All) / Industrials -IND (-200%) while GUSH tracks the S&P Oil & Gas Exploration & Production Select Industry Index (300%). Both are passively managed. Over the past 10 years, SIJ returned -27.81%/yr vs -37.19%/yr for GUSH. At a correlation of -0.44, they often move in opposite directions. SIJ charges 0.95%/yr vs 1.17%/yr for GUSH.
Performance
SIJ vs. GUSH - Performance Comparison
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Returns By Period
In the year-to-date period, SIJ achieves a -28.55% return, which is significantly lower than GUSH's 48.90% return. Over the past 10 years, SIJ has outperformed GUSH with an annualized return of -27.81%, while GUSH has yielded a comparatively lower -37.19% annualized return.
SIJ
- 1D
- -1.30%
- 1M
- -6.93%
- 6M
- -21.99%
- YTD
- -28.55%
- 1Y
- -32.13%
- 3Y*
- -28.25%
- 5Y*
- -19.80%
- 10Y*
- -27.81%
GUSH
- 1D
- -1.01%
- 1M
- -7.62%
- 6M
- 46.89%
- YTD
- 48.90%
- 1Y
- 30.20%
- 3Y*
- 2.39%
- 5Y*
- 9.50%
- 10Y*
- -37.19%
SIJ vs. GUSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SIJ ProShares UltraShort Industrials | -28.55% | -29.33% | -21.63% | -24.18% | 18.15% | -34.31% | -54.09% | -45.12% | 20.55% | -36.32% |
GUSH Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares | 48.90% | -19.39% | -12.73% | -7.23% | 66.47% | 129.94% | -97.38% | -52.68% | -74.28% | -40.21% |
Correlation
The correlation between SIJ and GUSH is 0.00, 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 | 0.00 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.39 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.43 |
Correlation (All Time) Calculated using the full available price history since May 29, 2015 | -0.44 |
The correlation between SIJ and GUSH shifts across timeframes, from -0.44 (all time) to 0.00 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SIJ vs. GUSH — Risk / Return Rank
SIJ
GUSH
SIJ vs. GUSH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Industrials (SIJ) 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.
| SIJ | GUSH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.51 | ||
| Sortino ratioReturn per unit of downside risk | -2.36 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 1.13 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | -0.85 | 0.88 | -1.73 |
| Martin ratioReturn relative to average drawdown | -1.64 | 2.04 | -3.68 |
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Drawdowns
SIJ vs. GUSH - Drawdown Comparison
The maximum SIJ drawdown since its inception was -99.93%, roughly equal to the maximum GUSH drawdown of -99.98%. Use the drawdown chart below to compare losses from any high point for SIJ and GUSH.
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Drawdown Indicators
| SIJ | GUSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.93% | -99.98% | +0.05% |
Max Drawdown (1Y)Largest decline over 1 year | -37.53% | -36.18% | -1.35% |
Max Drawdown (3Y)Largest decline over 3 years | -72.61% | -63.59% | -9.02% |
Max Drawdown (5Y)Largest decline over 5 years | -78.65% | -73.64% | -5.01% |
Max Drawdown (10Y)Largest decline over 10 years | -96.42% | -99.94% | +3.52% |
Current DrawdownCurrent decline from peak | -99.93% | -99.82% | -0.11% |
Average DrawdownAverage peak-to-trough decline | -86.79% | -92.95% | +6.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.35% | 15.58% | +3.77% |
Volatility
SIJ vs. GUSH - Volatility Comparison
The current volatility for ProShares UltraShort Industrials (SIJ) is 13.89%, while Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares (GUSH) has a volatility of 15.52%. This indicates that SIJ 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
| SIJ | GUSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.89% | 15.52% | -1.63% |
Volatility (6M)Calculated over the trailing 6-month period | 28.40% | 44.23% | -15.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.95% | 56.01% | -22.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.22% | 67.90% | -31.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 39.65% | 93.04% | -53.39% |
SIJ vs. GUSH - Expense Ratio Comparison
SIJ has a 0.95% expense ratio, which is lower than GUSH's 1.17% expense ratio.
Dividends
SIJ vs. GUSH - Dividend Comparison
SIJ's dividend yield for the trailing twelve months is around 4.93%, more than GUSH's 1.46% 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 | 1.46% | 2.60% | 2.96% | 3.00% | 0.47% | 0.00% | 0.20% | 1.68% | 0.17% | 0.00% | 3.26% |
SIJ ProShares UltraShort Industrials | 4.93% | 5.38% | 5.99% | 4.90% | 0.00% | 0.00% | 0.00% | 1.49% | 0.39% | 0.00% | 0.00% |
Frequently Asked Questions
SIJ and GUSH have a correlation of 0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GUSH has higher volatility (15.52%) compared to SIJ (13.89%). In terms of maximum drawdown, SIJ dropped -99.93% vs GUSH's -99.98%.
On 10-year performance, SIJ leads with -27.81% vs -37.19% for GUSH. On fees, SIJ is cheaper at 0.95% per year. On volatility, SIJ has been the lower-risk option at 13.89%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SIJ has performed better with a -27.81% return vs -37.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SIJ is cheaper with a 0.95% expense ratio, compared with 1.17% for GUSH.
SIJ has the higher dividend yield at 4.93%, compared with 1.46% for GUSH.
SIJ tracks DJ Global United States (All) / Industrials -IND (-200%), while GUSH tracks S&P Oil & Gas Exploration & Production Select Industry Index (300%). They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for SIJ and 1.17% for GUSH.
GUSH currently has the higher Sharpe Ratio (0.57 vs -0.94), 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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