ERY vs. GGLL

Last updated Jun 26, 2026

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 -24.59%/yr vs 64.90%/yr for GGLL. At a correlation of -0.07, they often move in opposite directions. ERY charges 1.07%/yr vs 0.96%/yr for GGLL.

Performance

ERY vs. GGLL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Energy Bear 2X Shares (ERY) 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, ERY achieves a -35.79% return, which is significantly lower than GGLL's 10.18% return.

ERY

• 1D: -2.10%
• 1M: 12.20%
• YTD: -35.79%
• 6M: -36.68%
• 1Y: -43.63%
• 3Y*: -24.59%
• 5Y*: -35.93%
• 10Y*: -33.62%

GGLL

• 1D: -1.11%
• 1M: -23.29%
• YTD: 10.18%
• 6M: 9.14%
• 1Y: 238.88%
• 3Y*: 64.90%
• 5Y*: —
• 10Y*: —

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

ERY vs. GGLL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
ERY Direxion Daily Energy Bear 2X Shares	-35.79%	-18.54%	-5.58%	-0.35%	-27.80%
GGLL Direxion Daily GOOGL Bull 2X Shares	10.18%	123.07%	48.88%	81.20%	-30.35%

Correlation

The correlation between ERY and GGLL is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.15
Correlation (3Y) Calculated over the trailing 3-year period	-0.00
Correlation (All Time) Calculated using the full available price history since Sep 7, 2022	-0.07

The correlation between ERY and GGLL shifts across timeframes, from -0.07 (all time) to 0.15 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

ERY vs. GGLL — Risk / Return Rank

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

ERY

ERY Risk / Return Rank: 2
ERY Sharpe Ratio Rank: 1
ERY Sortino Ratio Rank: 1
ERY Omega Ratio Rank: 2
ERY Calmar Ratio Rank: 3
ERY Martin Ratio Rank: 2

GGLL

GGLL Risk / Return Rank: 94
GGLL Sharpe Ratio Rank: 97
GGLL Sortino Ratio Rank: 94
GGLL Omega Ratio Rank: 91
GGLL Calmar Ratio Rank: 94
GGLL Martin Ratio Rank: 92

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.

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.

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.

	ERY	GGLL	Difference
Sharpe ratio: Return per unit of total volatility	-1.06	4.07	-5.13
Sortino ratio: Return per unit of downside risk	-1.65	4.31	-5.96
Omega ratio: Gain probability vs. loss probability	0.83	1.52	-0.69
Calmar ratio: Return relative to maximum drawdown	-0.77	6.27	-7.03
Martin ratio: Return relative to average drawdown	-1.37	19.73	-21.10

ERY vs. GGLL - Sharpe Ratio Comparison

The current ERY Sharpe Ratio is -1.06, which is lower than the GGLL Sharpe Ratio of 4.07. The chart below compares the historical Sharpe Ratios of ERY 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

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.

Drawdown Indicators

	ERY	GGLL	Difference
Max Drawdown Largest peak-to-trough decline	-99.99%	-52.81%	-47.18%
Max Drawdown (1Y) Largest decline over 1 year	-56.88%	-38.39%	-18.49%
Max Drawdown (3Y) Largest decline over 3 years	-66.61%	-52.81%	-13.80%
Max Drawdown (5Y) Largest decline over 5 years	-94.04%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-99.66%	—	—
Current Drawdown Current decline from peak	-99.99%	-28.80%	-71.19%
Average Drawdown Average peak-to-trough decline	-96.91%	-15.25%	-81.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	31.93%	12.17%	+19.76%

Volatility

ERY vs. GGLL - Volatility Comparison

The current volatility for Direxion Daily Energy Bear 2X Shares (ERY) is 13.80%, while Direxion Daily GOOGL Bull 2X Shares (GGLL) has a volatility of 18.48%. 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.

Volatility by Period

	ERY	GGLL	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.80%	18.48%	-4.68%
Volatility (6M) Calculated over the trailing 6-month period	33.50%	42.11%	-8.61%
Volatility (1Y) Calculated over the trailing 1-year period	41.48%	59.22%	-17.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.86%	56.17%	-4.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	70.53%	56.17%	+14.36%

ERY vs. GGLL - Expense Ratio Comparison

ERY has a 1.07% expense ratio, which is higher than GGLL's 0.96% expense ratio.

Dividends

ERY vs. GGLL - Dividend Comparison

ERY's dividend yield for the trailing twelve months is around 2.87%, less than GGLL's 4.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
ERY Direxion Daily Energy Bear 2X Shares	2.87%	3.48%	4.13%	4.14%	0.32%	0.00%	0.43%	1.50%	0.56%
GGLL Direxion Daily GOOGL Bull 2X Shares	4.47%	4.16%	3.29%	2.05%	0.59%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ERY and GGLL in my portfolio?

ERY and GGLL have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ERY or GGLL?

GGLL has higher volatility (18.48%) compared to ERY (13.80%). In terms of maximum drawdown, ERY dropped -99.99% vs GGLL's -52.81%.

Which ETF is better, ERY or GGLL?

On 3-year performance, GGLL leads with 64.90% vs -24.59% for ERY. On fees, GGLL is cheaper at 0.96% per year. On volatility, ERY has been the lower-risk option at 13.80%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ERY or GGLL?

Over the 3-year period, GGLL has performed better with a 64.90% return vs -24.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ERY or GGLL?

GGLL is cheaper with a 0.96% expense ratio, compared with 1.07% for ERY.

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

GGLL has the higher dividend yield at 4.47%, compared with 2.87% for ERY.

What is the main difference between ERY and 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 0.96% for GGLL.

Which has better risk-adjusted returns?

GGLL currently has the higher Sharpe Ratio (4.07 vs -1.06), 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.