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 -57.86% vs 599.95% for DLLL. Their -0.20 correlation means they have often moved in opposite directions in the past. 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 -53.72% return, which is significantly lower than DLLL's 699.96% return.
DRIP
- 1D
- 3.59%
- 1M
- -22.42%
- 6M
- -46.02%
- YTD
- -53.72%
- 1Y
- -57.86%
- 3Y*
- -24.65%
- 5Y*
- -45.76%
- 10Y*
- -42.61%
- ALL TIME*
- -41.99%
DLLL
- 1D
- 11.79%
- 1M
- 11.20%
- 6M
- 802.44%
- YTD
- 699.96%
- 1Y
- 599.95%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 301.93%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $23.82M | $34.65M | $52.12M | |
| $16.92M | $63.12M | $132.02M |
DRIP vs. DLLL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
DRIP Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares | -53.72% | -11.23% |
DLLL GraniteShares 2x Long DELL Daily ETF | 699.96% | -3.72% |
Correlation
The correlation between DRIP and DLLL is -0.08, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.08 |
Correlation (All Time) Calculated using the full available price history since Feb 13, 2025 | -0.20 |
The correlation between DRIP and DLLL shifts across timeframes, from -0.20 (all time) to -0.08 (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.
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.
| DRIP | DLLL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -5.33 | ||
| Sortino ratioReturn per unit of downside risk | -5.60 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 1.47 | -0.65 |
| Calmar ratioReturn relative to maximum drawdown | -0.93 | 10.59 | -11.52 |
| Martin ratioReturn relative to average drawdown | -1.52 | 20.58 | -22.10 |
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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 | -62.18% | -57.19% | -4.99% |
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% | -24.33% | -75.61% |
Average DrawdownAverage peak-to-trough decline | -90.56% | -25.80% | -64.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 38.17% | 29.35% | +8.82% |
Volatility
DRIP vs. DLLL - Volatility Comparison
The current volatility for Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP) is 17.47%, while GraniteShares 2x Long DELL Daily ETF (DLLL) has a volatility of 50.69%. 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 | 17.47% | 50.69% | -33.22% |
Volatility (6M)Calculated over the trailing 6-month period | 44.98% | 114.42% | -69.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 56.84% | 140.93% | -84.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 67.64% | 132.81% | -65.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 95.72% | 132.81% | -37.09% |
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 3.84%, 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 | 3.84% | 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 -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DLLL has higher volatility (50.69%) compared to DRIP (17.47%). In terms of maximum drawdown, DRIP dropped -99.95% vs DLLL's -68.58%.
On 1-year performance, DLLL leads with 599.95% vs -57.86% for DRIP. On fees, DRIP is cheaper at 1.07% per year. On volatility, DRIP has been the lower-risk option at 17.47%. 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 599.95% return vs -57.86%. 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 3.84%, 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 (4.30 vs -1.02), 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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