WEBS vs. GUSH
WEBS (Daily Dow Jones Internet Bear 3X Shares) and GUSH (Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares) are both Leveraged Equities funds from Direxion - WEBS tracks the Dow Jones Internet Composite Index (300%) while GUSH tracks the S&P Oil & Gas Exploration & Production Select Industry Index (300%). Both are passively managed. Over the past 5 years, WEBS returned -33.85%/yr vs 17.69%/yr for GUSH. At a correlation of -0.22, they often move in opposite directions. WEBS charges 1.07%/yr vs 1.17%/yr for GUSH.
Performance
WEBS vs. GUSH - Performance Comparison
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Returns By Period
In the year-to-date period, WEBS achieves a -11.73% return, which is significantly lower than GUSH's 63.46% return.
WEBS
- 1D
- 4.75%
- 1M
- -3.57%
- 6M
- -16.73%
- YTD
- -11.73%
- 1Y
- -16.44%
- 3Y*
- -44.25%
- 5Y*
- -33.85%
- 10Y*
- —
GUSH
- 1D
- 1.89%
- 1M
- 12.19%
- 6M
- 54.37%
- YTD
- 63.46%
- 1Y
- 57.75%
- 3Y*
- 7.54%
- 5Y*
- 17.69%
- 10Y*
- -36.14%
WEBS vs. GUSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
WEBS Daily Dow Jones Internet Bear 3X Shares | -11.73% | -40.66% | -56.62% | -75.58% | 117.15% | -39.82% | -87.18% | -10.90% |
GUSH Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares | 63.46% | -19.39% | -12.73% | -7.23% | 66.47% | 129.94% | -97.38% | 17.77% |
Correlation
The correlation between WEBS and GUSH is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.23 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 2019 | -0.22 |
The correlation between WEBS and GUSH shifts across timeframes, from -0.23 (5 years) to 0.11 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
WEBS vs. GUSH — Risk / Return Rank
WEBS
GUSH
WEBS vs. GUSH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Daily Dow Jones Internet Bear 3X Shares (WEBS) 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.
| WEBS | GUSH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.31 | ||
| Sortino ratioReturn per unit of downside risk | -1.55 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.19 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | -0.31 | 1.60 | -1.91 |
| Martin ratioReturn relative to average drawdown | -0.68 | 3.69 | -4.37 |
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Drawdowns
WEBS vs. GUSH - Drawdown Comparison
The maximum WEBS drawdown since its inception was -99.63%, roughly equal to the maximum GUSH drawdown of -99.98%. Use the drawdown chart below to compare losses from any high point for WEBS and GUSH.
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Drawdown Indicators
| WEBS | GUSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.63% | -99.98% | +0.35% |
Max Drawdown (1Y)Largest decline over 1 year | -53.54% | -36.18% | -17.36% |
Max Drawdown (3Y)Largest decline over 3 years | -90.33% | -63.59% | -26.74% |
Max Drawdown (5Y)Largest decline over 5 years | -97.09% | -73.64% | -23.45% |
Max Drawdown (10Y)Largest decline over 10 years | — | -99.94% | — |
Current DrawdownCurrent decline from peak | -99.57% | -99.80% | +0.23% |
Average DrawdownAverage peak-to-trough decline | -91.18% | -92.96% | +1.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.10% | 15.71% | +8.39% |
Volatility
WEBS vs. GUSH - Volatility Comparison
Daily Dow Jones Internet Bear 3X Shares (WEBS) has a higher volatility of 18.31% compared to Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares (GUSH) at 13.14%. This indicates that WEBS'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
| WEBS | GUSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.31% | 13.14% | +5.17% |
Volatility (6M)Calculated over the trailing 6-month period | 47.79% | 44.29% | +3.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 60.11% | 56.34% | +3.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 82.26% | 67.75% | +14.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 89.49% | 92.95% | -3.46% |
WEBS vs. GUSH - Expense Ratio Comparison
WEBS has a 1.07% expense ratio, which is lower than GUSH's 1.17% expense ratio.
Dividends
WEBS vs. GUSH - Dividend Comparison
WEBS's dividend yield for the trailing twelve months is around 3.10%, more than GUSH's 1.33% 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 | 1.33% | 2.60% | 2.96% | 3.00% | 0.47% | 0.00% | 0.20% | 1.68% | 0.17% | 0.00% | 3.26% |
WEBS Daily Dow Jones Internet Bear 3X Shares | 3.10% | 3.77% | 8.02% | 8.51% | 0.20% | 0.00% | 1.11% | 0.11% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
WEBS and GUSH have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WEBS has higher volatility (18.31%) compared to GUSH (13.14%). In terms of maximum drawdown, WEBS dropped -99.63% vs GUSH's -99.98%.
On 5-year performance, GUSH leads with 17.69% vs -33.85% for WEBS. On fees, WEBS is cheaper at 1.07% per year. On volatility, GUSH has been the lower-risk option at 13.14%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, GUSH has performed better with a 17.69% return vs -33.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
WEBS is cheaper with a 1.07% expense ratio, compared with 1.17% for GUSH.
WEBS has the higher dividend yield at 3.10%, compared with 1.33% for GUSH.
WEBS tracks Dow Jones Internet Composite Index (300%), while GUSH tracks S&P Oil & Gas Exploration & Production Select Industry Index (300%). Their fees differ too: 1.07% for WEBS and 1.17% for GUSH.
GUSH currently has the higher Sharpe Ratio (1.03 vs -0.27), 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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