# GUSH (Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X ETF)

Direxion · Leveraged ETFs · data as of Sep 30, 2026

Three months to Sep 30, 2026: GUSH returned +32.8% where its own daily promise gave +34.5%, 1.7 points short.

## Key facts

- GUSH, what XOP did: +17.1%, as of Sep 30, 2026.
- GUSH, what 2 times a day gives: +34.5%, as of Sep 30, 2026.
- GUSH, what the fund returned: +32.8%, as of Sep 30, 2026.
- GUSH, the fund itself cost: −1.7 pts, as of Sep 30, 2026.
- GUSH, net assets: $206m (issuer page, as of Sep 30, 2026).
- GUSH, expense ratio: 0.94% (485BPOS XBRL, Feb 26, 2026).

## GUSH over each window to Sep 30, 2026

| Window | Fund | XOP | +2x the move | Difference | XOP moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −10.1% | −4.7% | −9.4% | −0.7 pts | 24% |
| 3 months | +32.8% | +17.1% | +34.2% | −1.5 pts | 28% |
| 6 months | −0.4% | +3.5% | +7.0% | −7.4 pts | 30% |
| 1 year | +66.7% | +38.4% | +76.8% | −10.2 pts | 29% |
| 3 years | +10.1% | +29.9% | +59.9% | −49.8 pts | 28% |
| Since launch | −99.8% | +12.3% | +24.7% | −124.4 pts | 40% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of XOP, reset daily | ETFIQ |
| Multiple a holder actually got over the window | +1.91 times, against +2 stated | ETFIQ |
| Underlying | XOP | ETFIQ |
| Segment | asset class, commodity | ETFIQ |
| Net assets | $206m | issuer page, as of Sep 30, 2026 |
| Expense ratio | 0.94% | 485BPOS XBRL, Feb 26, 2026 |
| Launched | May 29, 2015 | ETFIQ |
| Underlying volatility over the window | 28% annualized | ETFIQ |

## Questions

### Did GUSH return +2 times XOP?

Over the window to Sep 30, 2026, XOP moved +17.1% and GUSH returned +32.8%. 2 times that move is +34.2%, so the fund came out 1.5 points short of it.

### Why does GUSH not return +2 times over a year?

Because it resets daily. GUSH aims at +2 times each day's move, and daily results compound. Over a run where the underlying falls and comes back, compounding a levered daily return leaves a holder behind what +2 times the period move would suggest; over a steady run in one direction it can leave them ahead. The longer the holding, and the more the underlying moves about, the further apart the two figures get.


## Cite this page

ETFIQ, GUSH, data as of Sep 30, 2026. https://etfiq.com/funds/gush
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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