ERY vs. GGLL
ERY (Direxion Daily Energy Bear 2X Shares) and GGLL (Direxion Daily GOOGL Bull 2X Shares) are both Leveraged Equities funds from Direxion - ERY tracks the Energy Select Sector Index (-300%) while GGLL tracks the Alphabet Inc. Class A (200%). Both are passively managed. Over the past 3 years, ERY returned -28.20%/yr vs 68.87%/yr for GGLL. At a correlation of -0.08, they often move in opposite directions. ERY charges 1.07%/yr vs 1.05%/yr for GGLL.
Performance
ERY vs. GGLL - Performance Comparison
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Returns By Period
In the year-to-date period, ERY achieves a -44.59% return, which is significantly lower than GGLL's 30.87% return.
ERY
- 1D
- -0.18%
- 1M
- 1.11%
- YTD
- -44.59%
- 6M
- -42.08%
- 1Y
- -55.06%
- 3Y*
- -28.20%
- 5Y*
- -38.05%
- 10Y*
- -33.88%
GGLL
- 1D
- 7.06%
- 1M
- -9.57%
- YTD
- 30.87%
- 6M
- 25.77%
- 1Y
- 311.83%
- 3Y*
- 68.87%
- 5Y*
- —
- 10Y*
- —
ERY vs. GGLL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ERY Direxion Daily Energy Bear 2X Shares | -44.59% | -18.54% | -5.58% | -0.35% | -29.35% |
GGLL Direxion Daily GOOGL Bull 2X Shares | 30.87% | 123.07% | 48.88% | 81.20% | -30.35% |
Correlation
The correlation between ERY and GGLL is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Sep 8, 2022 | -0.08 |
The correlation between ERY and GGLL shifts across timeframes, from -0.08 (all time) to 0.12 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ERY vs. GGLL — Risk / Return Rank
ERY
GGLL
ERY vs. GGLL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Energy Bear 2X Shares (ERY) 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.
| ERY | GGLL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -6.72 | ||
| Sortino ratioReturn per unit of downside risk | -7.51 | ||
| Omega ratioGain probability vs. loss probability | 0.76 | 1.61 | -0.86 |
| Calmar ratioReturn relative to maximum drawdown | -0.92 | 8.18 | -9.11 |
| Martin ratioReturn relative to average drawdown | -1.65 | 28.11 | -29.75 |
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
| ERY | GGLL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.36 | 5.36 | -6.72 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.74 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.48 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.55 | 1.03 | -1.58 |
Drawdowns
ERY vs. GGLL - Drawdown Comparison
The maximum ERY drawdown since its inception was -99.99%, which is greater than GGLL's maximum drawdown of -52.81%. Use the drawdown chart below to compare losses from any high point for ERY and GGLL.
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Drawdown Indicators
| ERY | GGLL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.99% | -52.81% | -47.18% |
Max Drawdown (1Y)Largest decline over 1 year | -59.79% | -38.39% | -21.40% |
Max Drawdown (3Y)Largest decline over 3 years | -67.94% | -52.81% | -15.13% |
Max Drawdown (5Y)Largest decline over 5 years | -94.04% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -99.66% | — | — |
Current DrawdownCurrent decline from peak | -99.99% | -15.44% | -84.55% |
Average DrawdownAverage peak-to-trough decline | -96.93% | -15.17% | -81.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.47% | 11.15% | +22.32% |
Volatility
ERY vs. GGLL - Volatility Comparison
The current volatility for Direxion Daily Energy Bear 2X Shares (ERY) is 16.11%, while Direxion Daily GOOGL Bull 2X Shares (GGLL) has a volatility of 17.94%. This indicates that ERY 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.
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Volatility by Period
| ERY | GGLL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.11% | 17.94% | -1.83% |
Volatility (6M)Calculated over the trailing 6-month period | 32.64% | 41.25% | -8.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 40.81% | 58.62% | -17.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 51.89% | 56.11% | -4.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 70.62% | 56.11% | +14.51% |
ERY vs. GGLL - Expense Ratio Comparison
ERY has a 1.07% expense ratio, which is higher than GGLL's 1.05% expense ratio.
Dividends
ERY vs. GGLL - Dividend Comparison
ERY's dividend yield for the trailing twelve months is around 3.75%, more than GGLL's 3.49% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
ERY Direxion Daily Energy Bear 2X Shares | 3.75% | 3.48% | 4.13% | 4.14% | 0.32% | 0.00% | 0.43% | 1.50% | 0.56% |
GGLL Direxion Daily GOOGL Bull 2X Shares | 3.49% | 4.16% | 3.29% | 2.05% | 0.59% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ERY and GGLL have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GGLL has higher volatility (17.94%) compared to ERY (16.11%). In terms of maximum drawdown, ERY dropped -99.99% vs GGLL's -52.81%.
On 3-year performance, GGLL leads with 68.87% vs -28.20% for ERY. On fees, GGLL is cheaper at 1.05% per year. On volatility, ERY has been the lower-risk option at 16.11%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, GGLL has performed better with a 68.87% return vs -28.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GGLL is cheaper with a 1.05% expense ratio, compared with 1.07% for ERY.
ERY has the higher dividend yield at 3.75%, compared with 3.49% for GGLL.
ERY tracks Energy Select Sector Index (-300%), while GGLL tracks Alphabet Inc. Class A (200%). Their fees differ too: 1.07% for ERY and 1.05% for GGLL.
GGLL currently has the higher Sharpe Ratio (5.36 vs -1.36), 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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