GGLL vs. BNO
GGLL (Direxion Daily GOOGL Bull 2X Shares) and BNO (United States Brent Oil Fund LP) are both exchange-traded funds - GGLL is a Leveraged Equities fund tracking the Alphabet Inc. Class A (200%), while BNO is a Oil & Gas fund tracking the Front Month Brent Crude Oil. Both are passively managed. Over the past 3 years, GGLL returned 65.97%/yr vs 27.93%/yr for BNO. At a 0.03 correlation, their price movements are largely independent. GGLL charges 1.05%/yr vs 0.90%/yr for BNO.
Performance
GGLL vs. BNO - Performance Comparison
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Returns By Period
In the year-to-date period, GGLL achieves a 22.24% return, which is significantly lower than BNO's 90.47% return.
GGLL
- 1D
- -1.40%
- 1M
- -13.22%
- YTD
- 22.24%
- 6M
- 15.91%
- 1Y
- 293.20%
- 3Y*
- 65.97%
- 5Y*
- —
- 10Y*
- —
BNO
- 1D
- 1.99%
- 1M
- -10.29%
- YTD
- 90.47%
- 6M
- 86.00%
- 1Y
- 91.89%
- 3Y*
- 27.93%
- 5Y*
- 24.16%
- 10Y*
- 13.60%
GGLL vs. BNO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
GGLL Direxion Daily GOOGL Bull 2X Shares | 22.24% | 123.07% | 48.88% | 81.20% | -30.35% |
BNO United States Brent Oil Fund LP | 90.47% | -5.44% | 9.67% | -3.43% | 2.20% |
Correlation
The correlation between GGLL and BNO is -0.21, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since Sep 8, 2022 | 0.03 |
The correlation between GGLL and BNO shifts across timeframes, from -0.21 (1 year) to 0.03 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
GGLL vs. BNO — Risk / Return Rank
GGLL
BNO
GGLL vs. BNO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily GOOGL Bull 2X Shares (GGLL) and United States Brent Oil Fund LP (BNO). 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.
| GGLL | BNO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.84 | ||
| Sortino ratioReturn per unit of downside risk | +2.23 | ||
| Omega ratioGain probability vs. loss probability | 1.60 | 1.38 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 7.69 | 5.17 | +2.52 |
| Martin ratioReturn relative to average drawdown | 26.53 | 9.76 | +16.77 |
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
| GGLL | BNO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 5.07 | 2.23 | +2.84 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.69 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.37 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.99 | 0.14 | +0.84 |
Drawdowns
GGLL vs. BNO - Drawdown Comparison
The maximum GGLL drawdown since its inception was -52.81%, smaller than the maximum BNO drawdown of -87.06%. Use the drawdown chart below to compare losses from any high point for GGLL and BNO.
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Drawdown Indicators
| GGLL | BNO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.81% | -87.06% | +34.25% |
Max Drawdown (1Y)Largest decline over 1 year | -38.39% | -17.87% | -20.52% |
Max Drawdown (3Y)Largest decline over 3 years | -52.81% | -23.75% | -29.06% |
Max Drawdown (5Y)Largest decline over 5 years | — | -33.70% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.18% | — |
Current DrawdownCurrent decline from peak | -21.02% | -10.29% | -10.73% |
Average DrawdownAverage peak-to-trough decline | -15.17% | -40.17% | +25.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.11% | 9.45% | +1.66% |
Volatility
GGLL vs. BNO - Volatility Comparison
Direxion Daily GOOGL Bull 2X Shares (GGLL) has a higher volatility of 16.60% compared to United States Brent Oil Fund LP (BNO) at 14.22%. This indicates that GGLL's price experiences larger fluctuations and is considered to be riskier than BNO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GGLL | BNO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.60% | 14.22% | +2.38% |
Volatility (6M)Calculated over the trailing 6-month period | 40.70% | 36.10% | +4.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 58.40% | 41.46% | +16.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 56.03% | 35.38% | +20.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 56.03% | 36.68% | +19.35% |
GGLL vs. BNO - Expense Ratio Comparison
GGLL has a 1.05% expense ratio, which is higher than BNO's 0.90% expense ratio.
Dividends
GGLL vs. BNO - Dividend Comparison
GGLL's dividend yield for the trailing twelve months is around 3.73%, while BNO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
BNO United States Brent Oil Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
GGLL Direxion Daily GOOGL Bull 2X Shares | 3.73% | 4.16% | 3.29% | 2.05% | 0.59% |
Frequently Asked Questions
GGLL and BNO have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GGLL has higher volatility (16.60%) compared to BNO (14.22%). In terms of maximum drawdown, GGLL dropped -52.81% vs BNO's -87.06%.
On 3-year performance, GGLL leads with 65.97% vs 27.93% for BNO. On fees, BNO is cheaper at 0.90% per year. On volatility, BNO has been the lower-risk option at 14.22%. 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 65.97% return vs 27.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BNO is cheaper with a 0.90% expense ratio, compared with 1.05% for GGLL.
GGLL has the higher dividend yield at 3.73%, compared with 0.00% for BNO.
GGLL is categorized as Leveraged Equities, while BNO is Oil & Gas. GGLL tracks Alphabet Inc. Class A (200%), while BNO tracks Front Month Brent Crude Oil. They also come from different issuers: Direxion and Concierge Technologies. Their fees differ too: 1.05% for GGLL and 0.90% for BNO.
GGLL currently has the higher Sharpe Ratio (5.07 vs 2.23), 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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