BIS vs. GGLL

Last updated Aug 2, 2026

BIS (ProShares UltraShort Nasdaq Biotechnology) and GGLL (Direxion Daily GOOGL Bull 2X Shares) are both Leveraged Equities funds - BIS tracks the NASDAQ Biotechnology Index (-200%) while GGLL tracks the Alphabet Inc. Class A (200%). Both are passively managed. Over the past 3 years, BIS returned -27.87%/yr vs 59.15%/yr for GGLL. Their -0.30 correlation means they have often moved in opposite directions in the past. BIS charges 0.95%/yr vs 0.96%/yr for GGLL.

Performance

BIS vs. GGLL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort Nasdaq Biotechnology (BIS) and Direxion Daily GOOGL Bull 2X Shares (GGLL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BIS achieves a -24.85% return, which is significantly lower than GGLL's 15.09% return.

BIS

• 1D: 3.65%
• 1M: 9.65%
• 6M: -20.75%
• YTD: -24.85%
• 1Y: -53.59%
• 3Y*: -27.87%
• 5Y*: -15.63%
• 10Y*: -24.02%
• ALL TIME*: -32.48%

GGLL

• 1D: 13.48%
• 1M: -4.20%
• 6M: -0.63%
• YTD: 15.09%
• 1Y: 193.37%
• 3Y*: 59.15%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 49.76%

*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)
BIS ProShares UltraShort Nasdaq Biotechnology	$67.10K	$102.51K	$113.13K
GGLL Direxion Daily GOOGL Bull 2X Shares	$205.93M	$163.03M	$182.59M

BIS vs. GGLL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
BIS ProShares UltraShort Nasdaq Biotechnology	-24.85%	-45.95%	4.79%	-6.54%	-22.46%
GGLL Direxion Daily GOOGL Bull 2X Shares	15.09%	123.07%	48.88%	81.20%	-30.35%

Correlation

The correlation between BIS and GGLL is -0.28, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.28
Correlation (3Y) Balances recent behavior with more history.	-0.27
Correlation (All Time) Calculated using the full available price history since Sep 7, 2022	-0.30

Return for Risk

BIS vs. GGLL — Risk / Return Rank

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

BIS

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

GGLL

GGLL Risk / Return Rank: 91
GGLL Sharpe Ratio Rank: 96
GGLL Sortino Ratio Rank: 92
GGLL Omega Ratio Rank: 90
GGLL Calmar Ratio Rank: 94
GGLL Martin Ratio Rank: 86

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.

BIS vs. GGLL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Nasdaq Biotechnology (BIS) 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.

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.

	BIS	GGLL	Difference
Sharpe ratio: Return per unit of total volatility	-1.33	2.89	-4.22
Sortino ratio: Return per unit of downside risk	-2.21	3.38	-5.60
Omega ratio: Gain probability vs. loss probability	0.76	1.41	-0.65
Calmar ratio: Return relative to maximum drawdown	-0.91	4.59	-5.51
Martin ratio: Return relative to average drawdown	-1.38	12.34	-13.72

BIS vs. GGLL - Sharpe Ratio Comparison

The current BIS Sharpe Ratio is -1.33, which is lower than the GGLL Sharpe Ratio of 2.89. The chart below compares the historical Sharpe Ratios of BIS and GGLL, 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

BIS vs. GGLL - Drawdown Comparison

The maximum BIS drawdown since its inception was -99.89%, which is greater than GGLL's maximum drawdown of -52.81%. Use the drawdown chart below to compare losses from any high point for BIS and GGLL.

Drawdown Indicators

	BIS	GGLL	Difference
Max Drawdown Largest peak-to-trough decline	-99.89%	-52.81%	-47.08%
Max Drawdown (1Y) Largest decline over 1 year	-59.49%	-40.32%	-19.17%
Max Drawdown (3Y) Largest decline over 3 years	-73.96%	-52.81%	-21.15%
Max Drawdown (5Y) Largest decline over 5 years	-80.19%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-95.82%	—	—
Current Drawdown Current decline from peak	-99.88%	-25.64%	-74.24%
Average Drawdown Average peak-to-trough decline	-90.11%	-15.55%	-74.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	39.26%	14.99%	+24.27%

Volatility

BIS vs. GGLL - Volatility Comparison

The current volatility for ProShares UltraShort Nasdaq Biotechnology (BIS) is 12.40%, while Direxion Daily GOOGL Bull 2X Shares (GGLL) has a volatility of 26.42%. This indicates that BIS 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

	BIS	GGLL	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.40%	26.42%	-14.02%
Volatility (6M) Calculated over the trailing 6-month period	31.89%	49.50%	-17.61%
Volatility (1Y) Calculated over the trailing 1-year period	40.71%	64.39%	-23.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.93%	57.22%	-13.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.15%	57.22%	-11.07%

BIS vs. GGLL - Expense Ratio Comparison

BIS has a 0.95% expense ratio, which is lower than GGLL's 0.96% expense ratio.

Dividends

BIS vs. GGLL - Dividend Comparison

BIS's dividend yield for the trailing twelve months is around 5.61%, more than GGLL's 4.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BIS ProShares UltraShort Nasdaq Biotechnology	5.61%	5.25%	3.73%	1.75%	0.00%	0.00%	0.45%	2.11%	0.37%
GGLL Direxion Daily GOOGL Bull 2X Shares	4.28%	4.16%	3.29%	2.05%	0.59%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BIS and GGLL in my portfolio?

BIS and GGLL have a correlation of -0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BIS or GGLL?

GGLL has higher volatility (26.42%) compared to BIS (12.40%). In terms of maximum drawdown, BIS dropped -99.89% vs GGLL's -52.81%.

Which ETF is better, BIS or GGLL?

On 3-year performance, GGLL leads with 59.15% vs -27.87% for BIS. On fees, BIS is cheaper at 0.95% per year. On volatility, BIS has been the lower-risk option at 12.40%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BIS or GGLL?

Over the 3-year period, GGLL has performed better with a 59.15% return vs -27.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BIS or GGLL?

BIS is cheaper with a 0.95% expense ratio, compared with 0.96% for GGLL.

Which ETF pays a higher dividend yield, BIS or GGLL?

BIS has the higher dividend yield at 5.61%, compared with 4.28% for GGLL.

What is the main difference between BIS and GGLL?

BIS tracks NASDAQ Biotechnology Index (-200%), while GGLL tracks Alphabet Inc. Class A (200%). They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for BIS and 0.96% for GGLL.

Which has better risk-adjusted returns?

GGLL currently has the higher Sharpe Ratio (2.89 vs -1.33), 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.