GGLL vs. FBL

Last updated Jun 3, 2026

GGLL (Direxion Daily GOOGL Bull 2X Shares) and FBL (GraniteShares 2x Long META Daily ETF) are both Leveraged Equities funds. GGLL is passively managed, while FBL is actively managed. Over the past 3 years, GGLL returned 66.75%/yr vs 29.68%/yr for FBL. A 0.51 correlation means they provide meaningful diversification when combined. GGLL charges 1.05%/yr vs 1.15%/yr for FBL.

Performance

GGLL vs. FBL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily GOOGL Bull 2X Shares (GGLL) and GraniteShares 2x Long META Daily ETF (FBL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GGLL achieves a 23.97% return, which is significantly higher than FBL's -25.99% return.

GGLL

• 1D: -7.76%
• 1M: -13.17%
• YTD: 23.97%
• 6M: 20.53%
• 1Y: 285.33%
• 3Y*: 66.75%
• 5Y*: —
• 10Y*: —

FBL

• 1D: -1.07%
• 1M: -4.94%
• YTD: -25.99%
• 6M: -23.80%
• 1Y: -36.08%
• 3Y*: 29.68%
• 5Y*: —
• 10Y*: —

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

GGLL vs. FBL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
GGLL Direxion Daily GOOGL Bull 2X Shares	23.97%	123.07%	48.88%	81.20%	-11.70%
FBL GraniteShares 2x Long META Daily ETF	-25.99%	0.50%	112.72%	341.59%	-1.22%

Correlation

The correlation between GGLL and FBL is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (3Y) Calculated over the trailing 3-year period	0.49
Correlation (All Time) Calculated using the full available price history since Dec 14, 2022	0.51

The correlation between GGLL and FBL shifts across timeframes, from 0.39 (1 year) to 0.51 (all time), reflecting how their relationship changes across market environments.

GGLL vs. FBL - Sectors Allocation Comparison

Sectors	GGLL	FBL
Communication Services	100.0%	66.7%
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

GGLL vs. FBL — 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: 94
GGLL Omega Ratio Rank: 90
GGLL Calmar Ratio Rank: 94
GGLL Martin Ratio Rank: 93

FBL

FBL Risk / Return Rank: 4
FBL Sharpe Ratio Rank: 4
FBL Sortino Ratio Rank: 5
FBL Omega Ratio Rank: 5
FBL Calmar Ratio Rank: 4
FBL Martin Ratio Rank: 4

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. FBL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily GOOGL Bull 2X Shares (GGLL) and GraniteShares 2x Long META Daily ETF (FBL). 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	FBL	Difference
Sharpe ratio Return per unit of total volatility	4.92	-0.52	+5.44
Sortino ratio Return per unit of downside risk	4.87	-0.42	+5.29
Omega ratio Gain probability vs. loss probability	1.58	0.95	+0.64
Calmar ratio Return relative to maximum drawdown	7.14	-0.51	+7.65
Martin ratio Return relative to average drawdown	24.83	-0.96	+25.79
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GGLL vs. FBL - Sharpe Ratio Comparison

The current GGLL Sharpe Ratio is 4.92, which is higher than the FBL Sharpe Ratio of -0.52. The chart below compares the historical Sharpe Ratios of GGLL and FBL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	GGLL	FBL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.92	-0.52	+5.44
Sharpe Ratio (All Time) Calculated using the full available price history	1.00	1.06	-0.06

Drawdowns

GGLL vs. FBL - Drawdown Comparison

The maximum GGLL drawdown since its inception was -52.81%, smaller than the maximum FBL drawdown of -61.15%. Use the drawdown chart below to compare losses from any high point for GGLL and FBL.

Drawdown Indicators

	GGLL	FBL	Difference
Max Drawdown Largest peak-to-trough decline	-52.81%	-61.15%	+8.34%
Max Drawdown (1Y) Largest decline over 1 year	-38.39%	-61.03%	+22.64%
Max Drawdown (3Y) Largest decline over 3 years	-52.81%	-61.15%	+8.34%
Current Drawdown Current decline from peak	-19.89%	-52.04%	+32.15%
Average Drawdown Average peak-to-trough decline	-15.16%	-16.38%	+1.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.04%	32.62%	-21.58%

Volatility

GGLL vs. FBL - Volatility Comparison

Direxion Daily GOOGL Bull 2X Shares (GGLL) has a higher volatility of 16.60% compared to GraniteShares 2x Long META Daily ETF (FBL) at 15.51%. This indicates that GGLL's price experiences larger fluctuations and is considered to be riskier than FBL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GGLL	FBL	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.60%	15.51%	+1.09%
Volatility (6M) Calculated over the trailing 6-month period	40.82%	52.53%	-11.71%
Volatility (1Y) Calculated over the trailing 1-year period	58.47%	70.31%	-11.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	56.06%	70.96%	-14.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	56.06%	70.96%	-14.90%

GGLL vs. FBL - Expense Ratio Comparison

GGLL has a 1.05% expense ratio, which is lower than FBL's 1.15% expense ratio.

Dividends

GGLL vs. FBL - Dividend Comparison

GGLL's dividend yield for the trailing twelve months is around 3.68%, more than FBL's 2.80% yield.

Position	TTM	2025	2024	2023	2022
FBL GraniteShares 2x Long META Daily ETF	2.80%	2.07%	0.00%	51.58%	0.00%
GGLL Direxion Daily GOOGL Bull 2X Shares	3.68%	4.16%	3.29%	2.05%	0.59%

Frequently Asked Questions

Can I hold both GGLL and FBL in my portfolio?

GGLL and FBL have a correlation of 0.39, 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 FBL?

GGLL has higher volatility (16.60%) compared to FBL (15.51%). In terms of maximum drawdown, GGLL dropped -52.81% vs FBL's -61.15%.

Which ETF is better, GGLL or FBL?

On 3-year performance, GGLL leads with 66.75% vs 29.68% for FBL. On fees, GGLL is cheaper at 1.05% per year. On volatility, FBL has been the lower-risk option at 15.51%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GGLL or FBL?

Over the 3-year period, GGLL has performed better with a 66.75% return vs 29.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GGLL or FBL?

GGLL is cheaper with a 1.05% expense ratio, compared with 1.15% for FBL.

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

GGLL has the higher dividend yield at 3.68%, compared with 2.80% for FBL.

What is the main difference between GGLL and FBL?

They also come from different issuers: Direxion and GraniteShares. Their fees differ too: 1.05% for GGLL and 1.15% for FBL.

Which has better risk-adjusted returns?

GGLL currently has the higher Sharpe Ratio (4.92 vs -0.52), 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.