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 -27.77%/yr vs -36.44%/yr for GUSH. At a correlation of -0.45, 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 -21.28% return, which is significantly lower than GUSH's 73.56% return. Over the past 10 years, SIJ has outperformed GUSH with an annualized return of -27.77%, while GUSH has yielded a comparatively lower -36.44% annualized return.
SIJ
- 1D
- -0.08%
- 1M
- -3.55%
- YTD
- -21.28%
- 6M
- -22.55%
- 1Y
- -31.23%
- 3Y*
- -29.54%
- 5Y*
- -18.51%
- 10Y*
- -27.77%
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%
SIJ vs. GUSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SIJ ProShares UltraShort Industrials | -21.28% | -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 | 73.56% | -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 -0.04, 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 | -0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.30 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.41 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.44 |
Correlation (All Time) Calculated using the full available price history since Jun 1, 2015 | -0.45 |
Over the past year, the inverse relationship between SIJ and GUSH has weakened: their correlation has moved from -0.45 to -0.04, meaning they move in opposite directions less often than they have historically.
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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.
| SIJ | GUSH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.36 | ||
| Sortino ratioReturn per unit of downside risk | -3.20 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.23 | -0.38 |
| Calmar ratioReturn relative to maximum drawdown | -0.89 | 2.62 | -3.51 |
| Martin ratioReturn relative to average drawdown | -1.50 | 6.06 | -7.56 |
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
| SIJ | GUSH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.00 | 1.37 | -2.36 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.52 | 0.17 | -0.69 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.70 | -0.39 | -0.31 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.63 | -0.44 | -0.19 |
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 | -35.40% | -28.94% | -6.46% |
Max Drawdown (3Y)Largest decline over 3 years | -69.84% | -63.59% | -6.25% |
Max Drawdown (5Y)Largest decline over 5 years | -76.49% | -73.64% | -2.85% |
Max Drawdown (10Y)Largest decline over 10 years | -96.54% | -99.94% | +3.40% |
Current DrawdownCurrent decline from peak | -99.92% | -99.79% | -0.13% |
Average DrawdownAverage peak-to-trough decline | -86.74% | -92.92% | +6.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.81% | 12.52% | +8.29% |
Volatility
SIJ vs. GUSH - Volatility Comparison
The current volatility for ProShares UltraShort Industrials (SIJ) is 10.18%, while Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares (GUSH) has a volatility of 20.17%. 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 | 10.18% | 20.17% | -9.99% |
Volatility (6M)Calculated over the trailing 6-month period | 26.39% | 43.47% | -17.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.52% | 55.62% | -24.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.84% | 68.21% | -32.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 39.62% | 93.72% | -54.10% |
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 5.75%, 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% |
SIJ ProShares UltraShort Industrials | 5.75% | 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 -0.04, 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 SIJ (10.18%). In terms of maximum drawdown, SIJ dropped -99.93% vs GUSH's -99.98%.
On 10-year performance, SIJ leads with -27.77% vs -36.44% for GUSH. On fees, SIJ is cheaper at 0.95% per year. On volatility, SIJ has been the lower-risk option at 10.18%. 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 -27.77% return vs -36.44%. 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 5.75%, compared with 1.44% 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 (1.37 vs -1.00), 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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