TSLG vs. GUSH
TSLG (Leverage Shares 2X Long TSLA Daily ETF) and GUSH (Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares) are both Leveraged Equities funds. TSLG is actively managed, while GUSH is passively managed. Over the past year, TSLG returned 7.28% vs 75.56% for GUSH. At a 0.14 correlation, their price movements are largely independent. TSLG charges 0.75%/yr vs 1.17%/yr for GUSH.
Performance
TSLG vs. GUSH - Performance Comparison
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Returns By Period
In the year-to-date period, TSLG achieves a -20.82% return, which is significantly lower than GUSH's 73.56% return.
TSLG
- 1D
- -0.14%
- 1M
- 13.71%
- YTD
- -20.82%
- 6M
- -21.35%
- 1Y
- 7.28%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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%
TSLG vs. GUSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
TSLG Leverage Shares 2X Long TSLA Daily ETF | -20.82% | -26.70% | -16.81% |
GUSH Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares | 73.56% | -19.39% | -4.57% |
Correlation
The correlation between TSLG and GUSH is -0.01, 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 | -0.01 |
Correlation (All Time) Calculated using the full available price history since Dec 16, 2024 | 0.14 |
The correlation between TSLG and GUSH shifts across timeframes, from -0.01 (1 year) to 0.14 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
TSLG vs. GUSH — Risk / Return Rank
TSLG
GUSH
TSLG vs. GUSH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long TSLA Daily ETF (TSLG) 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.
| TSLG | GUSH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.29 | ||
| Sortino ratioReturn per unit of downside risk | -1.06 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.23 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 0.13 | 2.62 | -2.49 |
| Martin ratioReturn relative to average drawdown | 0.28 | 6.06 | -5.78 |
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
| TSLG | GUSH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.08 | 1.37 | -1.29 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.17 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.39 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.34 | -0.44 | +0.09 |
Drawdowns
TSLG vs. GUSH - Drawdown Comparison
The maximum TSLG drawdown since its inception was -82.86%, smaller than the maximum GUSH drawdown of -99.98%. Use the drawdown chart below to compare losses from any high point for TSLG and GUSH.
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Drawdown Indicators
| TSLG | GUSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.86% | -99.98% | +17.12% |
Max Drawdown (1Y)Largest decline over 1 year | -54.61% | -28.94% | -25.67% |
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 | -60.00% | -99.79% | +39.79% |
Average DrawdownAverage peak-to-trough decline | -58.73% | -92.92% | +34.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 26.63% | 12.52% | +14.11% |
Volatility
TSLG vs. GUSH - Volatility Comparison
Leverage Shares 2X Long TSLA Daily ETF (TSLG) has a higher volatility of 24.41% compared to Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares (GUSH) at 20.17%. This indicates that TSLG'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
| TSLG | GUSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 24.41% | 20.17% | +4.24% |
Volatility (6M)Calculated over the trailing 6-month period | 54.58% | 43.47% | +11.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 92.53% | 55.62% | +36.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 115.31% | 68.21% | +47.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 115.31% | 93.72% | +21.59% |
TSLG vs. GUSH - Expense Ratio Comparison
TSLG has a 0.75% expense ratio, which is lower than GUSH's 1.17% expense ratio.
Dividends
TSLG vs. GUSH - Dividend Comparison
TSLG's dividend yield for the trailing twelve months is around 8.27%, 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% |
TSLG Leverage Shares 2X Long TSLA Daily ETF | 8.27% | 6.55% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TSLG and GUSH have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TSLG has higher volatility (24.41%) compared to GUSH (20.17%). In terms of maximum drawdown, TSLG dropped -82.86% vs GUSH's -99.98%.
On 1-year performance, GUSH leads with 75.56% vs 7.28% for TSLG. On fees, TSLG is cheaper at 0.75% per year. On volatility, GUSH has been the lower-risk option at 20.17%. 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 75.56% return vs 7.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TSLG is cheaper with a 0.75% expense ratio, compared with 1.17% for GUSH.
TSLG has the higher dividend yield at 8.27%, compared with 1.44% for GUSH.
They also come from different issuers: Leverage Shares and Direxion. Their fees differ too: 0.75% for TSLG and 1.17% for GUSH.
GUSH currently has the higher Sharpe Ratio (1.37 vs 0.08), 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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