GGLL vs. QTAP

Last updated Jun 4, 2026

GGLL (Direxion Daily GOOGL Bull 2X Shares) and QTAP (Innovator Growth Accelerated Plus ETF - April) are both Leveraged Equities funds. GGLL is passively managed, while QTAP is actively managed. Over the past 3 years, GGLL returned 65.97%/yr vs 21.18%/yr for QTAP. A 0.62 correlation means they provide meaningful diversification when combined. GGLL charges 1.05%/yr vs 0.79%/yr for QTAP.

Performance

GGLL vs. QTAP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily GOOGL Bull 2X Shares (GGLL) and Innovator Growth Accelerated Plus ETF - April (QTAP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GGLL achieves a 22.24% return, which is significantly higher than QTAP's 14.67% return.

GGLL

• 1D: -1.40%
• 1M: -13.22%
• YTD: 22.24%
• 6M: 15.91%
• 1Y: 293.20%
• 3Y*: 65.97%
• 5Y*: —
• 10Y*: —

QTAP

• 1D: -0.10%
• 1M: 2.89%
• YTD: 14.67%
• 6M: 15.56%
• 1Y: 25.59%
• 3Y*: 21.18%
• 5Y*: 13.78%
• 10Y*: —

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

GGLL vs. QTAP - 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%
QTAP Innovator Growth Accelerated Plus ETF - April	14.67%	19.36%	17.34%	43.32%	-12.16%

Correlation

The correlation between GGLL and QTAP is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.56
Correlation (All Time) Calculated using the full available price history since Sep 8, 2022	0.62

The correlation between GGLL and QTAP shifts across timeframes, from 0.51 (1 year) to 0.62 (all time), reflecting how their relationship changes across market environments.

GGLL vs. QTAP - Sectors Allocation Comparison

Sectors	GGLL	QTAP
Communication Services	100.0%	15.8%
Basic Materials	-	1.3%
Consumer Cyclical	-	12.5%
Consumer Defensive	-	8.7%
Energy	-	0.7%
Financial Services	-	0.2%
Healthcare	-	5.1%
Industrials	-	3.3%
Real Estate	-	0.1%
Technology	-	50.7%
Utilities	-	1.6%

Return for Risk

GGLL vs. QTAP — 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: 94

QTAP

QTAP Risk / Return Rank: 98
QTAP Sharpe Ratio Rank: 97
QTAP Sortino Ratio Rank: 98
QTAP Omega Ratio Rank: 98
QTAP Calmar Ratio Rank: 98
QTAP Martin Ratio Rank: 98

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. QTAP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily GOOGL Bull 2X Shares (GGLL) and Innovator Growth Accelerated Plus ETF - April (QTAP). 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	QTAP	Difference
Sharpe ratio: Return per unit of total volatility	5.07	4.62	+0.45
Sortino ratio: Return per unit of downside risk	4.96	8.50	-3.54
Omega ratio: Gain probability vs. loss probability	1.60	2.23	-0.63
Calmar ratio: Return relative to maximum drawdown	7.69	15.20	-7.50
Martin ratio: Return relative to average drawdown	26.53	80.04	-53.52
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. QTAP - Sharpe Ratio Comparison

The current GGLL Sharpe Ratio is 5.07, which is comparable to the QTAP Sharpe Ratio of 4.62. The chart below compares the historical Sharpe Ratios of GGLL and QTAP, 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	QTAP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.07	4.62	+0.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.73	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.99	0.75	+0.23

Drawdowns

GGLL vs. QTAP - Drawdown Comparison

The maximum GGLL drawdown since its inception was -52.81%, which is greater than QTAP's maximum drawdown of -29.44%. Use the drawdown chart below to compare losses from any high point for GGLL and QTAP.

Drawdown Indicators

	GGLL	QTAP	Difference
Max Drawdown Largest peak-to-trough decline	-52.81%	-29.44%	-23.37%
Max Drawdown (1Y) Largest decline over 1 year	-38.39%	-1.69%	-36.70%
Max Drawdown (3Y) Largest decline over 3 years	-52.81%	-13.03%	-39.78%
Max Drawdown (5Y) Largest decline over 5 years	—	-29.44%	—
Current Drawdown Current decline from peak	-21.02%	-0.10%	-20.92%
Average Drawdown Average peak-to-trough decline	-15.17%	-5.04%	-10.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.11%	0.32%	+10.79%

Volatility

GGLL vs. QTAP - Volatility Comparison

Direxion Daily GOOGL Bull 2X Shares (GGLL) has a higher volatility of 16.60% compared to Innovator Growth Accelerated Plus ETF - April (QTAP) at 1.33%. This indicates that GGLL's price experiences larger fluctuations and is considered to be riskier than QTAP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GGLL	QTAP	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.60%	1.33%	+15.27%
Volatility (6M) Calculated over the trailing 6-month period	40.70%	3.97%	+36.73%
Volatility (1Y) Calculated over the trailing 1-year period	58.40%	5.56%	+52.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	56.03%	18.89%	+37.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	56.03%	18.77%	+37.26%

GGLL vs. QTAP - Expense Ratio Comparison

GGLL has a 1.05% expense ratio, which is higher than QTAP's 0.79% expense ratio.

Dividends

GGLL vs. QTAP - Dividend Comparison

GGLL's dividend yield for the trailing twelve months is around 3.73%, while QTAP has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
GGLL Direxion Daily GOOGL Bull 2X Shares	3.73%	4.16%	3.29%	2.05%	0.59%
QTAP Innovator Growth Accelerated Plus ETF - April	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GGLL and QTAP in my portfolio?

GGLL and QTAP have a correlation of 0.51, 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 QTAP?

GGLL has higher volatility (16.60%) compared to QTAP (1.33%). In terms of maximum drawdown, GGLL dropped -52.81% vs QTAP's -29.44%.

Which ETF is better, GGLL or QTAP?

On 3-year performance, GGLL leads with 65.97% vs 21.18% for QTAP. On fees, QTAP is cheaper at 0.79% per year. On volatility, QTAP has been the lower-risk option at 1.33%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GGLL or QTAP?

Over the 3-year period, GGLL has performed better with a 65.97% return vs 21.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GGLL or QTAP?

QTAP is cheaper with a 0.79% expense ratio, compared with 1.05% for GGLL.

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

GGLL has the higher dividend yield at 3.73%, compared with 0.00% for QTAP.

What is the main difference between GGLL and QTAP?

They also come from different issuers: Direxion and Innovator. Their fees differ too: 1.05% for GGLL and 0.79% for QTAP.

Which has better risk-adjusted returns?

GGLL currently has the higher Sharpe Ratio (5.07 vs 4.62), 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.