DRIP vs. DLLL
DRIP (Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares) and DLLL (GraniteShares 2x Long DELL Daily ETF) are both Leveraged Equities funds - DRIP tracks the S&P Oil & Gas Exploration & Production Select Industry Index (-300%) while DLLL tracks the Dell Technologies Inc. (DELL). Both are passively managed. Over the past year, DRIP returned -56.10% vs 850.63% for DLLL. At a correlation of -0.22, they often move in opposite directions. DRIP charges 1.07%/yr vs 1.50%/yr for DLLL.
Performance
DRIP vs. DLLL - Performance Comparison
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Returns By Period
In the year-to-date period, DRIP achieves a -50.45% return, which is significantly lower than DLLL's 757.76% return.
DRIP
- 1D
- -3.05%
- 1M
- 9.61%
- YTD
- -50.45%
- 6M
- -43.03%
- 1Y
- -56.10%
- 3Y*
- -30.92%
- 5Y*
- -41.62%
- 10Y*
- -42.95%
DLLL
- 1D
- -6.45%
- 1M
- 245.92%
- YTD
- 757.76%
- 6M
- 648.38%
- 1Y
- 850.63%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DRIP vs. DLLL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
DRIP Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares | -50.45% | -9.94% |
DLLL GraniteShares 2x Long DELL Daily ETF | 757.76% | -3.72% |
Correlation
The correlation between DRIP and DLLL is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.09 |
Correlation (All Time) Calculated using the full available price history since Feb 14, 2025 | -0.22 |
The correlation between DRIP and DLLL shifts across timeframes, from -0.22 (all time) to -0.09 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
DRIP vs. DLLL — Risk / Return Rank
DRIP
DLLL
DRIP vs. DLLL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP) and GraniteShares 2x Long DELL Daily ETF (DLLL). 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.
| DRIP | DLLL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -7.67 | ||
| Sortino ratioReturn per unit of downside risk | -6.52 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.60 | -0.77 |
| Calmar ratioReturn relative to maximum drawdown | -0.88 | 15.02 | -15.91 |
| Martin ratioReturn relative to average drawdown | -1.64 | 31.34 | -32.99 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| DRIP | DLLL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.01 | 6.65 | -7.67 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.61 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.45 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.42 | 3.16 | -3.57 |
Drawdowns
DRIP vs. DLLL - Drawdown Comparison
The maximum DRIP drawdown since its inception was -99.95%, which is greater than DLLL's maximum drawdown of -68.58%. Use the drawdown chart below to compare losses from any high point for DRIP and DLLL.
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Drawdown Indicators
| DRIP | DLLL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.95% | -68.58% | -31.37% |
Max Drawdown (1Y)Largest decline over 1 year | -63.84% | -57.19% | -6.65% |
Max Drawdown (3Y)Largest decline over 3 years | -76.02% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -96.24% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -99.92% | — | — |
Current DrawdownCurrent decline from peak | -99.94% | -18.86% | -81.08% |
Average DrawdownAverage peak-to-trough decline | -90.45% | -25.91% | -64.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 34.12% | 27.36% | +6.76% |
Volatility
DRIP vs. DLLL - Volatility Comparison
The current volatility for Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP) is 19.66%, while GraniteShares 2x Long DELL Daily ETF (DLLL) has a volatility of 69.39%. This indicates that DRIP experiences smaller price fluctuations and is considered to be less risky than DLLL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DRIP | DLLL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.66% | 69.39% | -49.73% |
Volatility (6M)Calculated over the trailing 6-month period | 43.05% | 102.08% | -59.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 55.64% | 129.28% | -73.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 68.36% | 130.55% | -62.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 96.59% | 130.55% | -33.96% |
DRIP vs. DLLL - Expense Ratio Comparison
DRIP has a 1.07% expense ratio, which is lower than DLLL's 1.50% expense ratio.
Dividends
DRIP vs. DLLL - Dividend Comparison
DRIP's dividend yield for the trailing twelve months is around 3.99%, while DLLL has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DLLL GraniteShares 2x Long DELL Daily ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
DRIP Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares | 3.99% | 2.86% | 4.38% | 5.09% | 0.00% | 0.00% | 0.01% | 0.96% | 0.58% |
Frequently Asked Questions
DRIP and DLLL have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DLLL has higher volatility (69.39%) compared to DRIP (19.66%). In terms of maximum drawdown, DRIP dropped -99.95% vs DLLL's -68.58%.
On 1-year performance, DLLL leads with 850.63% vs -56.10% for DRIP. On fees, DRIP is cheaper at 1.07% per year. On volatility, DRIP has been the lower-risk option at 19.66%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, DLLL has performed better with a 850.63% return vs -56.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DRIP is cheaper with a 1.07% expense ratio, compared with 1.50% for DLLL.
DRIP has the higher dividend yield at 3.99%, compared with 0.00% for DLLL.
DRIP tracks S&P Oil & Gas Exploration & Production Select Industry Index (-300%), while DLLL tracks Dell Technologies Inc. (DELL). They also come from different issuers: Direxion and GraniteShares. Their fees differ too: 1.07% for DRIP and 1.50% for DLLL.
DLLL currently has the higher Sharpe Ratio (6.65 vs -1.01), 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.
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