GGLL vs. GOOX

Last updated Jun 24, 2026

GGLL (Direxion Daily GOOGL Bull 2X Shares) and GOOX (T-Rex 2X Long Alphabet Daily Target ETF) are both exchange-traded funds - GGLL is a Leveraged Equities fund tracking the Alphabet Inc. Class A (200%), while GOOX is a Leveraged Bonds fund actively managed by T-Rex. GGLL is passively managed, while GOOX is actively managed. Over the past year, GGLL returned 265.53% vs 258.95% for GOOX. With a 0.99 correlation, they move nearly in lockstep. GGLL charges 0.96%/yr vs 1.05%/yr for GOOX.

Performance

GGLL vs. GOOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily GOOGL Bull 2X Shares (GGLL) and T-Rex 2X Long Alphabet Daily Target ETF (GOOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GGLL achieves a 11.40% return, which is significantly higher than GOOX's 10.68% return.

GGLL

• 1D: -2.70%
• 1M: -20.13%
• YTD: 11.40%
• 6M: 10.14%
• 1Y: 265.53%
• 3Y*: 62.75%
• 5Y*: —
• 10Y*: —

GOOX

• 1D: -1.61%
• 1M: -18.21%
• YTD: 10.68%
• 6M: 8.75%
• 1Y: 258.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GGLL vs. GOOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
GGLL Direxion Daily GOOGL Bull 2X Shares	11.40%	123.07%	45.58%
GOOX T-Rex 2X Long Alphabet Daily Target ETF	10.68%	121.41%	44.31%

Correlation

The correlation between GGLL and GOOX is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024	0.99

The correlation between GGLL and GOOX has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.

Return for Risk

GGLL vs. GOOX — 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

GOOX

GOOX Risk / Return Rank: 93
GOOX Sharpe Ratio Rank: 97
GOOX Sortino Ratio Rank: 94
GOOX Omega Ratio Rank: 90
GOOX Calmar Ratio Rank: 94
GOOX 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.

GGLL vs. GOOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily GOOGL Bull 2X Shares (GGLL) and T-Rex 2X Long Alphabet Daily Target ETF (GOOX). 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	GOOX	Difference
Sharpe ratio: Return per unit of total volatility	4.51	4.47	+0.05
Sortino ratio: Return per unit of downside risk	4.55	4.57	-0.02
Omega ratio: Gain probability vs. loss probability	1.55	1.55	0.00
Calmar ratio: Return relative to maximum drawdown	6.97	6.69	+0.28
Martin ratio: Return relative to average drawdown	22.42	21.38	+1.04

GGLL vs. GOOX - Sharpe Ratio Comparison

The current GGLL Sharpe Ratio is 4.51, which is comparable to the GOOX Sharpe Ratio of 4.47. The chart below compares the historical Sharpe Ratios of GGLL and GOOX, 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. GOOX - Drawdown Comparison

The maximum GGLL drawdown since its inception was -52.81%, roughly equal to the maximum GOOX drawdown of -52.46%. Use the drawdown chart below to compare losses from any high point for GGLL and GOOX.

Drawdown Indicators

	GGLL	GOOX	Difference
Max Drawdown Largest peak-to-trough decline	-52.81%	-52.46%	-0.35%
Max Drawdown (1Y) Largest decline over 1 year	-38.39%	-38.98%	+0.59%
Max Drawdown (3Y) Largest decline over 3 years	-52.81%	—	—
Current Drawdown Current decline from peak	-28.02%	-26.44%	-1.58%
Average Drawdown Average peak-to-trough decline	-15.22%	-17.07%	+1.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.91%	12.17%	-0.26%

Volatility

GGLL vs. GOOX - Volatility Comparison

Direxion Daily GOOGL Bull 2X Shares (GGLL) and T-Rex 2X Long Alphabet Daily Target ETF (GOOX) have volatilities of 19.04% and 19.22%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GGLL	GOOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.04%	19.22%	-0.18%
Volatility (6M) Calculated over the trailing 6-month period	42.25%	41.69%	+0.56%
Volatility (1Y) Calculated over the trailing 1-year period	59.29%	58.44%	+0.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	56.23%	60.58%	-4.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	56.23%	60.58%	-4.35%

GGLL vs. GOOX - Expense Ratio Comparison

GGLL has a 0.96% expense ratio, which is lower than GOOX's 1.05% expense ratio.

Dividends

GGLL vs. GOOX - Dividend Comparison

GGLL's dividend yield for the trailing twelve months is around 4.10%, more than GOOX's 0.28% yield.

Position	TTM	2025	2024	2023	2022
GGLL Direxion Daily GOOGL Bull 2X Shares	4.10%	4.16%	3.29%	2.05%	0.59%
GOOX T-Rex 2X Long Alphabet Daily Target ETF	0.28%	0.30%	16.78%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GGLL and GOOX in my portfolio?

With a correlation of 0.99, GGLL and GOOX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, GGLL or GOOX?

GOOX has higher volatility (19.22%) compared to GGLL (19.04%). In terms of maximum drawdown, GGLL dropped -52.81% vs GOOX's -52.46%.

Which ETF is better, GGLL or GOOX?

On 1-year performance, GGLL leads with 265.53% vs 258.95% for GOOX. On fees, GGLL is cheaper at 0.96% per year. On volatility, GGLL has been the lower-risk option at 19.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GGLL or GOOX?

Over the 1-year period, GGLL has performed better with a 265.53% return vs 258.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GGLL or GOOX?

GGLL is cheaper with a 0.96% expense ratio, compared with 1.05% for GOOX.

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

GGLL has the higher dividend yield at 4.10%, compared with 0.28% for GOOX.

What is the main difference between GGLL and GOOX?

GGLL is categorized as Leveraged Equities, while GOOX is Leveraged Bonds. They also come from different issuers: Direxion and T-Rex. Their fees differ too: 0.96% for GGLL and 1.05% for GOOX.

Which has better risk-adjusted returns?

GGLL currently has the higher Sharpe Ratio (4.51 vs 4.47), 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.