AQLT vs. GGLS

Last updated Jul 14, 2026

AQLT (iShares MSCI Global Quality Factor ETF) and GGLS (Direxion Daily GOOGL Bear 1X Shares) are both exchange-traded funds - AQLT is a Global Equities fund tracking the MSCI ACWI Quality Index (Net), while GGLS is a Inverse Equities fund tracking the Alphabet Inc. Class A (--100%). Both are passively managed. Over the past year, AQLT returned 23.87% vs -50.93% for GGLS. At a correlation of -0.62, they often move in opposite directions. AQLT charges 0.20%/yr vs 1.09%/yr for GGLS.

Performance

AQLT vs. GGLS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Global Quality Factor ETF (AQLT) and Direxion Daily GOOGL Bear 1X Shares (GGLS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AQLT achieves a 12.03% return, which is significantly higher than GGLS's -13.17% return.

AQLT

• 1D: -0.93%
• 1M: 1.01%
• 6M: 8.57%
• YTD: 12.03%
• 1Y: 23.87%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GGLS

• 1D: 1.40%
• 1M: 1.79%
• 6M: -7.88%
• YTD: -13.17%
• 1Y: -50.93%
• 3Y*: -30.84%
• 5Y*: —
• 10Y*: —

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

AQLT vs. GGLS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
AQLT iShares MSCI Global Quality Factor ETF	12.03%	17.65%	-3.38%
GGLS Direxion Daily GOOGL Bear 1X Shares	-13.17%	-42.64%	3.11%

Correlation

The correlation between AQLT and GGLS is -0.58, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.58
Correlation (All Time) Calculated using the full available price history since Dec 12, 2024	-0.62

The correlation between AQLT and GGLS has been stable across timeframes, ranging from -0.62 to -0.58 - a consistent structural relationship.

Return for Risk

AQLT vs. GGLS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AQLT

AQLT Risk / Return Rank: 64
AQLT Sharpe Ratio Rank: 66
AQLT Sortino Ratio Rank: 66
AQLT Omega Ratio Rank: 65
AQLT Calmar Ratio Rank: 57
AQLT Martin Ratio Rank: 69

GGLS

GGLS Risk / Return Rank: 1
GGLS Sharpe Ratio Rank: 0
GGLS Sortino Ratio Rank: 0
GGLS Omega Ratio Rank: 0
GGLS Calmar Ratio Rank: 1
GGLS Martin Ratio Rank: 3

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AQLT vs. GGLS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Global Quality Factor ETF (AQLT) and Direxion Daily GOOGL Bear 1X Shares (GGLS). 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.

	AQLT	GGLS	Difference
Sharpe ratio: Return per unit of total volatility	1.70	-1.71	+3.40
Sortino ratio: Return per unit of downside risk	2.42	-2.64	+5.06
Omega ratio: Gain probability vs. loss probability	1.31	0.67	+0.64
Calmar ratio: Return relative to maximum drawdown	2.24	-0.90	+3.15
Martin ratio: Return relative to average drawdown	9.90	-1.28	+11.18

AQLT vs. GGLS - Sharpe Ratio Comparison

The current AQLT Sharpe Ratio is 1.70, which is higher than the GGLS Sharpe Ratio of -1.71. The chart below compares the historical Sharpe Ratios of AQLT and GGLS, 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

AQLT vs. GGLS - Drawdown Comparison

The maximum AQLT drawdown since its inception was -16.84%, smaller than the maximum GGLS drawdown of -81.24%. Use the drawdown chart below to compare losses from any high point for AQLT and GGLS.

Drawdown Indicators

	AQLT	GGLS	Difference
Max Drawdown Largest peak-to-trough decline	-16.84%	-81.24%	+64.40%
Max Drawdown (1Y) Largest decline over 1 year	-10.68%	-56.44%	+45.76%
Max Drawdown (3Y) Largest decline over 3 years	—	-72.36%	—
Current Drawdown Current decline from peak	-0.93%	-78.67%	+77.74%
Average Drawdown Average peak-to-trough decline	-2.27%	-47.68%	+45.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.42%	40.38%	-37.96%

Volatility

AQLT vs. GGLS - Volatility Comparison

The current volatility for iShares MSCI Global Quality Factor ETF (AQLT) is 4.62%, while Direxion Daily GOOGL Bear 1X Shares (GGLS) has a volatility of 9.43%. This indicates that AQLT experiences smaller price fluctuations and is considered to be less risky than GGLS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AQLT	GGLS	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.62%	9.43%	-4.81%
Volatility (6M) Calculated over the trailing 6-month period	11.93%	22.67%	-10.74%
Volatility (1Y) Calculated over the trailing 1-year period	14.17%	29.96%	-15.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.03%	31.28%	-14.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.03%	31.28%	-14.25%

AQLT vs. GGLS - Expense Ratio Comparison

AQLT has a 0.20% expense ratio, which is lower than GGLS's 1.09% expense ratio.

Dividends

AQLT vs. GGLS - Dividend Comparison

AQLT's dividend yield for the trailing twelve months is around 0.99%, less than GGLS's 2.94% yield.

Position	TTM	2025	2024	2023	2022
AQLT iShares MSCI Global Quality Factor ETF	0.99%	1.05%	0.02%	0.00%	0.00%
GGLS Direxion Daily GOOGL Bear 1X Shares	2.94%	4.87%	4.31%	5.80%	0.20%

Frequently Asked Questions

Can I hold both AQLT and GGLS in my portfolio?

AQLT and GGLS have a correlation of -0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AQLT or GGLS?

GGLS has higher volatility (9.43%) compared to AQLT (4.62%). In terms of maximum drawdown, AQLT dropped -16.84% vs GGLS's -81.24%.

Which ETF is better, AQLT or GGLS?

On 1-year performance, AQLT leads with 23.87% vs -50.93% for GGLS. On fees, AQLT is cheaper at 0.20% per year. On volatility, AQLT has been the lower-risk option at 4.62%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AQLT or GGLS?

Over the 1-year period, AQLT has performed better with a 23.87% return vs -50.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AQLT or GGLS?

AQLT is cheaper with a 0.20% expense ratio, compared with 1.09% for GGLS.

Which ETF pays a higher dividend yield, AQLT or GGLS?

GGLS has the higher dividend yield at 2.94%, compared with 0.99% for AQLT.

What is the main difference between AQLT and GGLS?

AQLT is categorized as Global Equities, while GGLS is Inverse Equities. AQLT tracks MSCI ACWI Quality Index (Net), while GGLS tracks Alphabet Inc. Class A (--100%). They also come from different issuers: iShares and Direxion. Their fees differ too: 0.20% for AQLT and 1.09% for GGLS.

Which has better risk-adjusted returns?

AQLT currently has the higher Sharpe Ratio (1.70 vs -1.71), 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.