FXP vs. GGLL

Last updated Apr 2, 2026

Compare and contrast key facts about ProShares UltraShort FTSE China 50 (FXP) and Direxion Daily GOOGL Bull 2X Shares (GGLL).

FXP and GGLL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FXP is a passively managed fund by ProShares that tracks the performance of the FTSE China 50 Net Tax USD (TR) (-200%). It was launched on Nov 8, 2007. GGLL is a passively managed fund by Direxion that tracks the performance of the Alphabet Inc. Class A (200%). It was launched on Sep 6, 2022. Both FXP and GGLL are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

FXP vs. GGLL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort FTSE China 50 (FXP) and Direxion Daily GOOGL Bull 2X Shares (GGLL). The values are adjusted to include any dividend payments, if applicable.

FXP vs. GGLL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FXP ProShares UltraShort FTSE China 50	13.74%	-45.32%	-52.46%	12.74%	-14.42%
GGLL Direxion Daily GOOGL Bull 2X Shares	-13.29%	123.07%	48.88%	81.20%	-30.35%

Returns By Period

In the year-to-date period, FXP achieves a 13.74% return, which is significantly higher than GGLL's -13.29% return.

FXP

• 1D: 1.76%
• 1M: 6.33%
• YTD: 13.74%
• 6M: 29.26%
• 1Y: -11.66%
• 3Y*: -27.25%
• 5Y*: -16.43%
• 10Y*: -23.35%

GGLL

• 1D: 6.92%
• 1M: -7.36%
• YTD: -13.29%
• 6M: 35.38%
• 1Y: 197.12%
• 3Y*: 61.49%
• 5Y*: —
• 10Y*: —

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

FXP vs. GGLL - Expense Ratio Comparison

FXP has a 0.95% expense ratio, which is lower than GGLL's 1.05% expense ratio.

GGLL

Direxion Daily GOOGL Bull 2X Shares

FXP

ProShares UltraShort FTSE China 50

Return for Risk

FXP vs. GGLL — Risk / Return Rank

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

FXP

FXP Risk / Return Rank: 9
FXP Sharpe Ratio Rank: 7
FXP Sortino Ratio Rank: 9
FXP Omega Ratio Rank: 9
FXP Calmar Ratio Rank: 9
FXP Martin Ratio Rank: 10

GGLL

GGLL Risk / Return Rank: 96
GGLL Sharpe Ratio Rank: 98
GGLL Sortino Ratio Rank: 97
GGLL Omega Ratio Rank: 93
GGLL Calmar Ratio Rank: 97
GGLL Martin Ratio Rank: 97

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.

FXP vs. GGLL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort FTSE China 50 (FXP) 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.

	FXP	GGLL	Difference
Sharpe ratio Return per unit of total volatility	-0.25	3.24	-3.48
Sortino ratio Return per unit of downside risk	-0.03	3.58	-3.61
Omega ratio Gain probability vs. loss probability	1.00	1.44	-0.44
Calmar ratio Return relative to maximum drawdown	-0.21	5.37	-5.59
Martin ratio Return relative to average drawdown	-0.26	19.61	-19.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FXP vs. GGLL - Sharpe Ratio Comparison

The current FXP Sharpe Ratio is -0.25, which is lower than the GGLL Sharpe Ratio of 3.24. The chart below compares the historical Sharpe Ratios of FXP and GGLL, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FXP	GGLL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.25	3.24	-3.48
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.26	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.43	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.44	0.80	-1.24

Correlation

The correlation between FXP and GGLL is -0.30. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

FXP vs. GGLL - Dividend Comparison

FXP's dividend yield for the trailing twelve months is around 4.11%, less than GGLL's 5.26% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018
FXP ProShares UltraShort FTSE China 50	4.11%	9.57%	3.55%	2.20%	0.06%	0.00%	0.06%	1.20%	0.16%
GGLL Direxion Daily GOOGL Bull 2X Shares	5.26%	4.16%	3.29%	2.05%	0.59%	0.00%	0.00%	0.00%	0.00%

Drawdowns

FXP vs. GGLL - Drawdown Comparison

The maximum FXP drawdown since its inception was -99.94%, which is greater than GGLL's maximum drawdown of -52.81%. Use the drawdown chart below to compare losses from any high point for FXP and GGLL.

Drawdown Indicators

	FXP	GGLL	Difference
Max Drawdown Largest peak-to-trough decline	-99.94%	-52.81%	-47.13%
Max Drawdown (1Y) Largest decline over 1 year	-52.42%	-38.39%	-14.03%
Max Drawdown (5Y) Largest decline over 5 years	-87.85%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-95.29%	—	—
Current Drawdown Current decline from peak	-99.92%	-27.39%	-72.53%
Average Drawdown Average peak-to-trough decline	-94.10%	-15.51%	-78.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	42.53%	10.52%	+32.01%

Volatility

FXP vs. GGLL - Volatility Comparison

The current volatility for ProShares UltraShort FTSE China 50 (FXP) is 13.38%, while Direxion Daily GOOGL Bull 2X Shares (GGLL) has a volatility of 19.62%. This indicates that FXP 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

	FXP	GGLL	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.38%	19.62%	-6.24%
Volatility (6M) Calculated over the trailing 6-month period	28.89%	39.89%	-11.00%
Volatility (1Y) Calculated over the trailing 1-year period	47.75%	61.32%	-13.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	63.03%	55.21%	+7.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	54.95%	55.21%	-0.26%