WTIU vs. GUSH

Last updated Aug 2, 2026

WTIU (MicroSectors Energy 3X Leveraged ETN) and GUSH (Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares) are both Leveraged Equities funds - WTIU tracks the Solactive MicroSectors Energy Index - Benchmark TR Gross (--300%) while GUSH tracks the S&P Oil & Gas Exploration & Production Select Industry Index (300%). Both are passively managed. Over the past 3 years, WTIU returned 0.02%/yr vs 5.22%/yr for GUSH. Their correlation of 0.92 means they have usually moved in the same direction. WTIU charges 0.95%/yr vs 1.17%/yr for GUSH.

Performance

WTIU vs. GUSH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors Energy 3X Leveraged ETN (WTIU) and Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares (GUSH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WTIU achieves a 104.80% return, which is significantly higher than GUSH's 84.27% return.

WTIU

• 1D: 3.15%
• 1M: 45.95%
• 6M: 51.31%
• YTD: 104.80%
• 1Y: 114.64%
• 3Y*: 0.02%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -4.45%

GUSH

• 1D: 2.66%
• 1M: 29.75%
• 6M: 50.64%
• YTD: 84.27%
• 1Y: 87.82%
• 3Y*: 5.22%
• 5Y*: 20.49%
• 10Y*: -34.13%
• ALL TIME*: -41.90%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GUSH Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares	$34.81M	$32.68M	$31.93M
WTIU MicroSectors Energy 3X Leveraged ETN	$1.32M	$870.89K	$849.27K

WTIU vs. GUSH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
WTIU MicroSectors Energy 3X Leveraged ETN	104.80%	-17.13%	-29.63%	-28.45%
GUSH Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares	84.27%	-19.39%	-12.73%	-11.72%

Correlation

The correlation between WTIU and GUSH is 0.93, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.93
Correlation (3Y) Balances recent behavior with more history.	0.92
Correlation (All Time) Calculated using the full available price history since Feb 15, 2023	0.92

The correlation between WTIU and GUSH has been stable across timeframes, ranging from 0.92 to 0.93 - a consistent structural relationship.

WTIU vs. GUSH - Sectors Allocation Comparison

Sectors	WTIU	GUSH
Energy	100.0%	95.1%
Basic Materials	-	4.3%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	0.7%
Real Estate	-	-
Technology	-	0.6%
Utilities	-	-

Return for Risk

WTIU vs. GUSH — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

WTIU

WTIU Risk / Return Rank: 55
WTIU Sharpe Ratio Rank: 62
WTIU Sortino Ratio Rank: 56
WTIU Omega Ratio Rank: 54
WTIU Calmar Ratio Rank: 60
WTIU Martin Ratio Rank: 44

GUSH

GUSH Risk / Return Rank: 52
GUSH Sharpe Ratio Rank: 55
GUSH Sortino Ratio Rank: 51
GUSH Omega Ratio Rank: 50
GUSH Calmar Ratio Rank: 59
GUSH Martin Ratio Rank: 42

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

WTIU vs. GUSH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors Energy 3X Leveraged ETN (WTIU) 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.

	WTIU	GUSH	Difference
Sharpe ratio: Return per unit of total volatility	1.44	1.32	+0.13
Sortino ratio: Return per unit of downside risk	1.93	1.80	+0.13
Omega ratio: Gain probability vs. loss probability	1.24	1.22	+0.02
Calmar ratio: Return relative to maximum drawdown	2.09	2.07	+0.03
Martin ratio: Return relative to average drawdown	4.79	4.68	+0.10

WTIU vs. GUSH - Sharpe Ratio Comparison

The current WTIU Sharpe Ratio is 1.44, which is comparable to the GUSH Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of WTIU and GUSH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

WTIU vs. GUSH - Drawdown Comparison

The maximum WTIU drawdown since its inception was -75.73%, smaller than the maximum GUSH drawdown of -99.98%. Use the drawdown chart below to compare losses from any high point for WTIU and GUSH.

Drawdown Indicators

	WTIU	GUSH	Difference
Max Drawdown Largest peak-to-trough decline	-75.73%	-99.98%	+24.25%
Max Drawdown (1Y) Largest decline over 1 year	-48.11%	-36.18%	-11.93%
Max Drawdown (3Y) Largest decline over 3 years	-75.73%	-63.59%	-12.14%
Max Drawdown (5Y) Largest decline over 5 years	—	-73.64%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-99.94%	—
Current Drawdown Current decline from peak	-27.41%	-99.77%	+72.36%
Average Drawdown Average peak-to-trough decline	-39.21%	-92.98%	+53.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	21.07%	16.04%	+5.03%

Volatility

WTIU vs. GUSH - Volatility Comparison

MicroSectors Energy 3X Leveraged ETN (WTIU) has a higher volatility of 21.18% compared to Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares (GUSH) at 16.40%. This indicates that WTIU'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.

Volatility by Period

	WTIU	GUSH	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.18%	16.40%	+4.78%
Volatility (6M) Calculated over the trailing 6-month period	57.82%	45.15%	+12.67%
Volatility (1Y) Calculated over the trailing 1-year period	69.90%	56.92%	+12.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	70.86%	67.48%	+3.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	70.86%	92.83%	-21.97%

WTIU vs. GUSH - Expense Ratio Comparison

WTIU has a 0.95% expense ratio, which is lower than GUSH's 1.17% expense ratio.

Dividends

WTIU vs. GUSH - Dividend Comparison

WTIU has not paid dividends to shareholders, while GUSH's dividend yield for the trailing twelve months is around 1.18%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
GUSH Direxion Daily S&P Oil & Gas Exploration & Production Bull 2x Shares	1.18%	2.60%	2.96%	3.00%	0.47%	0.00%	0.20%	1.68%	0.17%	0.00%	3.26%
WTIU MicroSectors Energy 3X Leveraged ETN	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both WTIU and GUSH in my portfolio?

With a correlation of 0.93, WTIU and GUSH move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, WTIU or GUSH?

WTIU has higher volatility (21.18%) compared to GUSH (16.40%). In terms of maximum drawdown, WTIU dropped -75.73% vs GUSH's -99.98%.

Which ETF is better, WTIU or GUSH?

On 3-year performance, GUSH leads with 5.22% vs 0.02% for WTIU. On fees, WTIU is cheaper at 0.95% per year. On volatility, GUSH has been the lower-risk option at 16.40%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, WTIU or GUSH?

Over the 3-year period, GUSH has performed better with a 5.22% return vs 0.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WTIU or GUSH?

WTIU is cheaper with a 0.95% expense ratio, compared with 1.17% for GUSH.

Which ETF pays a higher dividend yield, WTIU or GUSH?

GUSH has the higher dividend yield at 1.18%, compared with 0.00% for WTIU.

What is the main difference between WTIU and GUSH?

WTIU tracks Solactive MicroSectors Energy Index - Benchmark TR Gross (--300%), while GUSH tracks S&P Oil & Gas Exploration & Production Select Industry Index (300%). They also come from different issuers: REX and Direxion. Their fees differ too: 0.95% for WTIU and 1.17% for GUSH.

Which has better risk-adjusted returns?

WTIU currently has the higher Sharpe Ratio (1.44 vs 1.32), 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.