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 -36.70%/yr vs 11.54%/yr for GUSH. At a correlation of -0.23, 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 -16.82% return, which is significantly lower than GUSH's 73.56% return.
WEBS
- 1D
- 5.89%
- 1M
- -13.46%
- YTD
- -16.82%
- 6M
- -14.14%
- 1Y
- -30.71%
- 3Y*
- -49.47%
- 5Y*
- -36.70%
- 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%
WEBS vs. GUSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
WEBS Daily Dow Jones Internet Bear 3X Shares | -16.82% | -40.66% | -56.62% | -75.58% | 117.15% | -39.82% | -87.18% | -13.16% |
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% | 10.99% |
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 | -0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.24 |
Correlation (All Time) Calculated using the full available price history since Nov 8, 2019 | -0.23 |
The correlation between WEBS and GUSH shifts across timeframes, from -0.24 (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.
| WEBS | GUSH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.90 | ||
| Sortino ratioReturn per unit of downside risk | -2.35 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.23 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | -0.58 | 2.62 | -3.20 |
| Martin ratioReturn relative to average drawdown | -1.33 | 6.06 | -7.38 |
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
| WEBS | GUSH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.54 | 1.37 | -1.90 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.45 | 0.17 | -0.62 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.39 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.59 | -0.44 | -0.15 |
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% | -28.94% | -24.60% |
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 | -99.60% | -99.79% | +0.19% |
Average DrawdownAverage peak-to-trough decline | -91.09% | -92.92% | +1.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.19% | 12.52% | +10.67% |
Volatility
WEBS vs. GUSH - Volatility Comparison
The current volatility for Daily Dow Jones Internet Bear 3X Shares (WEBS) is 15.72%, while Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares (GUSH) has a volatility of 20.17%. This indicates that WEBS 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
| WEBS | GUSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.72% | 20.17% | -4.45% |
Volatility (6M)Calculated over the trailing 6-month period | 43.46% | 43.47% | -0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.60% | 55.62% | +1.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 81.81% | 68.21% | +13.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 89.84% | 93.72% | -3.88% |
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 3.92%, 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% |
WEBS Daily Dow Jones Internet Bear 3X Shares | 3.92% | 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.
GUSH has higher volatility (20.17%) compared to WEBS (15.72%). In terms of maximum drawdown, WEBS dropped -99.63% vs GUSH's -99.98%.
On 5-year performance, GUSH leads with 11.54% vs -36.70% for WEBS. On fees, WEBS is cheaper at 1.07% per year. On volatility, WEBS has been the lower-risk option at 15.72%. 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 11.54% return vs -36.70%. 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 3.92%, compared with 1.44% 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 (1.37 vs -0.54), 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.
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