BDCX vs. GGLL

Last updated Apr 1, 2026

Compare and contrast key facts about ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN (BDCX) and Direxion Daily GOOGL Bull 2X Shares (GGLL).

BDCX and GGLL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BDCX is a passively managed fund by UBS that tracks the performance of the MVIS US Business Development Companies (150%). It was launched on Jun 2, 2020. GGLL is a passively managed fund by Direxion that tracks the performance of the Alphabet Inc. Class A (200%). It was launched on Sep 6, 2022. Both BDCX and GGLL are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

BDCX vs. GGLL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN (BDCX) and Direxion Daily GOOGL Bull 2X Shares (GGLL). The values are adjusted to include any dividend payments, if applicable.

BDCX vs. GGLL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
BDCX ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN	-13.54%	-10.42%	15.32%	35.33%	-8.13%
GGLL Direxion Daily GOOGL Bull 2X Shares	-18.90%	123.07%	48.88%	81.20%	-30.35%

Returns By Period

In the year-to-date period, BDCX achieves a -13.54% return, which is significantly higher than GGLL's -18.90% return.

BDCX

• 1D: 3.32%
• 1M: 1.87%
• YTD: -13.54%
• 6M: -13.47%
• 1Y: -23.11%
• 3Y*: 4.64%
• 5Y*: 3.38%
• 10Y*: —

GGLL

• 1D: 10.22%
• 1M: -16.24%
• YTD: -18.90%
• 6M: 28.40%
• 1Y: 186.52%
• 3Y*: 57.93%
• 5Y*: —
• 10Y*: —

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

BDCX vs. GGLL - Expense Ratio Comparison

BDCX has a 0.95% expense ratio, which is lower than GGLL's 1.05% expense ratio.

GGLL

Direxion Daily GOOGL Bull 2X Shares

BDCX

ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN

Return for Risk

BDCX vs. GGLL — Risk / Return Rank

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

BDCX

BDCX Risk / Return Rank: 2
BDCX Sharpe Ratio Rank: 2
BDCX Sortino Ratio Rank: 2
BDCX Omega Ratio Rank: 2
BDCX Calmar Ratio Rank: 1
BDCX Martin Ratio Rank: 1

GGLL

GGLL Risk / Return Rank: 96
GGLL Sharpe Ratio Rank: 98
GGLL Sortino Ratio Rank: 97
GGLL Omega Ratio Rank: 94
GGLL Calmar Ratio Rank: 97
GGLL Martin Ratio Rank: 97

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.

BDCX vs. GGLL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN (BDCX) and Direxion Daily GOOGL Bull 2X Shares (GGLL). 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.

	BDCX	GGLL	Difference
Sharpe ratio Return per unit of total volatility	-0.72	3.08	-3.80
Sortino ratio Return per unit of downside risk	-0.91	3.47	-4.38
Omega ratio Gain probability vs. loss probability	0.89	1.43	-0.54
Calmar ratio Return relative to maximum drawdown	-0.77	4.88	-5.65
Martin ratio Return relative to average drawdown	-1.55	18.04	-19.59
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BDCX vs. GGLL - Sharpe Ratio Comparison

The current BDCX Sharpe Ratio is -0.72, which is lower than the GGLL Sharpe Ratio of 3.08. The chart below compares the historical Sharpe Ratios of BDCX and GGLL, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BDCX	GGLL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.72	3.08	-3.80
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.13	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.75	-0.31

Correlation

The correlation between BDCX and GGLL is 0.29, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

BDCX vs. GGLL - Dividend Comparison

BDCX's dividend yield for the trailing twelve months is around 22.24%, more than GGLL's 5.63% yield.

	TTM	2025	2024	2023	2022	2021	2020
BDCX ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN	22.24%	19.17%	15.28%	14.71%	17.47%	11.52%	6.32%
GGLL Direxion Daily GOOGL Bull 2X Shares	5.63%	4.16%	3.29%	2.05%	0.59%	0.00%	0.00%

Drawdowns

BDCX vs. GGLL - Drawdown Comparison

The maximum BDCX drawdown since its inception was -34.96%, smaller than the maximum GGLL drawdown of -52.81%. Use the drawdown chart below to compare losses from any high point for BDCX and GGLL.

Drawdown Indicators

	BDCX	GGLL	Difference
Max Drawdown Largest peak-to-trough decline	-34.96%	-52.81%	+17.85%
Max Drawdown (1Y) Largest decline over 1 year	-30.46%	-38.39%	+7.93%
Max Drawdown (5Y) Largest decline over 5 years	-34.96%	—	—
Current Drawdown Current decline from peak	-29.73%	-32.09%	+2.36%
Average Drawdown Average peak-to-trough decline	-9.60%	-15.49%	+5.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.20%	10.38%	+4.82%

Volatility

BDCX vs. GGLL - Volatility Comparison

The current volatility for ETRACS Quarterly Pay 1.5X Leveraged MVIS BDC Index ETN (BDCX) is 9.44%, while Direxion Daily GOOGL Bull 2X Shares (GGLL) has a volatility of 18.25%. This indicates that BDCX experiences smaller price fluctuations and is considered to be less risky than GGLL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BDCX	GGLL	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.44%	18.25%	-8.81%
Volatility (6M) Calculated over the trailing 6-month period	20.78%	39.37%	-18.59%
Volatility (1Y) Calculated over the trailing 1-year period	32.13%	60.98%	-28.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.00%	55.13%	-29.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.63%	55.13%	-28.50%