GGLL vs. BIL

Last updated Jun 14, 2026

GGLL (Direxion Daily GOOGL Bull 2X Shares) and BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) are both exchange-traded funds - GGLL is a Leveraged Equities fund tracking the Alphabet Inc. Class A (200%), while BIL is a Government Bonds fund tracking the Bloomberg 1-3 Month U.S. Treasury Bill Index. Both are passively managed. Over the past 3 years, GGLL returned 66.50%/yr vs 4.63%/yr for BIL. At a correlation of -0.03, they often move in opposite directions. GGLL charges 1.05%/yr vs 0.14%/yr for BIL.

Performance

GGLL vs. BIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily GOOGL Bull 2X Shares (GGLL) and SPDR Bloomberg 1-3 Month T-Bill ETF (BIL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GGLL achieves a 21.93% return, which is significantly higher than BIL's 1.60% return.

GGLL

• 1D: 1.02%
• 1M: -20.61%
• YTD: 21.93%
• 6M: 23.94%
• 1Y: 256.14%
• 3Y*: 66.50%
• 5Y*: —
• 10Y*: —

BIL

• 1D: 0.03%
• 1M: 0.29%
• YTD: 1.60%
• 6M: 1.76%
• 1Y: 3.85%
• 3Y*: 4.63%
• 5Y*: 3.43%
• 10Y*: 2.20%

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

GGLL vs. BIL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
GGLL Direxion Daily GOOGL Bull 2X Shares	21.93%	123.07%	48.88%	81.20%	-30.35%
BIL SPDR Bloomberg 1-3 Month T-Bill ETF	1.60%	4.15%	5.19%	4.94%	1.02%

Correlation

The correlation between GGLL and BIL is -0.08, 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	-0.08
Correlation (3Y) Calculated over the trailing 3-year period	-0.05
Correlation (All Time) Calculated using the full available price history since Sep 7, 2022	-0.03

Return for Risk

GGLL vs. BIL — Risk / Return Rank

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

GGLL

GGLL Risk / Return Rank: 94
GGLL Sharpe Ratio Rank: 97
GGLL Sortino Ratio Rank: 95
GGLL Omega Ratio Rank: 92
GGLL Calmar Ratio Rank: 95
GGLL Martin Ratio Rank: 93

BIL

BIL Risk / Return Rank: 100
BIL Sharpe Ratio Rank: 100
BIL Sortino Ratio Rank: 100
BIL Omega Ratio Rank: 100
BIL Calmar Ratio Rank: 100
BIL Martin Ratio Rank: 100

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.

GGLL vs. BIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily GOOGL Bull 2X Shares (GGLL) and SPDR Bloomberg 1-3 Month T-Bill ETF (BIL). 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.

	GGLL	BIL	Difference
Sharpe ratio: Return per unit of total volatility	4.33	19.63	-15.30
Sortino ratio: Return per unit of downside risk	4.54	175.17	-170.62
Omega ratio: Gain probability vs. loss probability	1.54	88.41	-86.87
Calmar ratio: Return relative to maximum drawdown	6.60	357.44	-350.84
Martin ratio: Return relative to average drawdown	21.93	2,834.34	-2,812.41

GGLL vs. BIL - Sharpe Ratio Comparison

The current GGLL Sharpe Ratio is 4.33, which is lower than the BIL Sharpe Ratio of 19.63. The chart below compares the historical Sharpe Ratios of GGLL and BIL, 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

GGLL vs. BIL - Drawdown Comparison

The maximum GGLL drawdown since its inception was -52.81%, which is greater than BIL's maximum drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for GGLL and BIL.

Drawdown Indicators

	GGLL	BIL	Difference
Max Drawdown Largest peak-to-trough decline	-52.81%	-0.78%	-52.03%
Max Drawdown (1Y) Largest decline over 1 year	-38.39%	-0.01%	-38.38%
Max Drawdown (3Y) Largest decline over 3 years	-52.81%	-0.01%	-52.80%
Max Drawdown (5Y) Largest decline over 5 years	—	-0.09%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-0.21%	—
Current Drawdown Current decline from peak	-21.22%	0.00%	-21.22%
Average Drawdown Average peak-to-trough decline	-15.19%	-0.26%	-14.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.54%	0.00%	+11.54%

Volatility

GGLL vs. BIL - Volatility Comparison

Direxion Daily GOOGL Bull 2X Shares (GGLL) has a higher volatility of 14.31% compared to SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) at 0.06%. This indicates that GGLL's price experiences larger fluctuations and is considered to be riskier than BIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GGLL	BIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.31%	0.06%	+14.25%
Volatility (6M) Calculated over the trailing 6-month period	41.16%	0.14%	+41.02%
Volatility (1Y) Calculated over the trailing 1-year period	58.54%	0.20%	+58.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	55.99%	0.26%	+55.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	55.99%	0.26%	+55.73%

GGLL vs. BIL - Expense Ratio Comparison

GGLL has a 1.05% expense ratio, which is higher than BIL's 0.14% expense ratio.

Dividends

GGLL vs. BIL - Dividend Comparison

GGLL's dividend yield for the trailing twelve months is around 3.74%, less than BIL's 3.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
BIL SPDR Bloomberg 1-3 Month T-Bill ETF	3.86%	4.13%	5.03%	4.92%	1.35%	0.00%	0.30%	2.05%	1.66%	0.68%	0.07%
GGLL Direxion Daily GOOGL Bull 2X Shares	3.74%	4.16%	3.29%	2.05%	0.59%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GGLL and BIL in my portfolio?

GGLL and BIL 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.

Which is riskier, GGLL or BIL?

GGLL has higher volatility (14.31%) compared to BIL (0.06%). In terms of maximum drawdown, GGLL dropped -52.81% vs BIL's -0.78%.

Which ETF is better, GGLL or BIL?

On 3-year performance, GGLL leads with 66.50% vs 4.63% for BIL. On fees, BIL is cheaper at 0.14% per year. On volatility, BIL has been the lower-risk option at 0.06%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GGLL or BIL?

Over the 3-year period, GGLL has performed better with a 66.50% return vs 4.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GGLL or BIL?

BIL is cheaper with a 0.14% expense ratio, compared with 1.05% for GGLL.

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

BIL has the higher dividend yield at 3.86%, compared with 3.74% for GGLL.

What is the main difference between GGLL and BIL?

GGLL is categorized as Leveraged Equities, while BIL is Government Bonds. GGLL tracks Alphabet Inc. Class A (200%), while BIL tracks Bloomberg 1-3 Month U.S. Treasury Bill Index. They also come from different issuers: Direxion and State Street. Their fees differ too: 1.05% for GGLL and 0.14% for BIL.

Which has better risk-adjusted returns?

BIL currently has the higher Sharpe Ratio (19.63 vs 4.33), 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.