GGLL vs. TMF
GGLL (Direxion Daily GOOGL Bull 2X Shares) and TMF (Direxion Daily 20+ Year Treasury Bull 3X ETF) are both exchange-traded funds - GGLL is a Leveraged Equities fund tracking the Alphabet Inc. Class A (200%), while TMF is a Leveraged Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index (300%). Both are passively managed. Over the past 3 years, GGLL returned 62.72%/yr vs -21.26%/yr for TMF. At a 0.07 correlation, their price movements are largely independent. GGLL charges 0.96%/yr vs 1.01%/yr for TMF.
Performance
GGLL vs. TMF - Performance Comparison
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Returns By Period
In the year-to-date period, GGLL achieves a 15.18% return, which is significantly higher than TMF's -10.63% return.
GGLL
- 1D
- -2.49%
- 1M
- -5.54%
- 6M
- 2.83%
- YTD
- 15.18%
- 1Y
- 220.67%
- 3Y*
- 62.72%
- 5Y*
- —
- 10Y*
- —
TMF
- 1D
- -1.85%
- 1M
- -5.74%
- 6M
- -11.74%
- YTD
- -10.63%
- 1Y
- -5.83%
- 3Y*
- -21.26%
- 5Y*
- -33.16%
- 10Y*
- -17.90%
GGLL vs. TMF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
GGLL Direxion Daily GOOGL Bull 2X Shares | 15.18% | 123.07% | 48.88% | 81.20% | -30.35% |
TMF Direxion Daily 20+ Year Treasury Bull 3X ETF | -10.63% | -2.94% | -35.95% | -13.01% | -24.04% |
Correlation
The correlation between GGLL and TMF is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Sep 7, 2022 | 0.07 |
The correlation between GGLL and TMF shifts across timeframes, from 0.07 (3 years) to 0.17 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GGLL vs. TMF — Risk / Return Rank
GGLL
TMF
GGLL vs. TMF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily GOOGL Bull 2X Shares (GGLL) and Direxion Daily 20+ Year Treasury Bull 3X ETF (TMF). 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 | TMF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.93 | ||
| Sortino ratioReturn per unit of downside risk | +4.24 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 0.99 | +0.51 |
| Calmar ratioReturn relative to maximum drawdown | 5.79 | -0.22 | +6.01 |
| Martin ratioReturn relative to average drawdown | 16.91 | -0.46 | +17.37 |
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Drawdowns
GGLL vs. TMF - Drawdown Comparison
The maximum GGLL drawdown since its inception was -52.81%, smaller than the maximum TMF drawdown of -92.89%. Use the drawdown chart below to compare losses from any high point for GGLL and TMF.
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Drawdown Indicators
| GGLL | TMF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.81% | -92.89% | +40.08% |
Max Drawdown (1Y)Largest decline over 1 year | -38.39% | -26.51% | -11.88% |
Max Drawdown (3Y)Largest decline over 3 years | -52.81% | -55.14% | +2.33% |
Max Drawdown (5Y)Largest decline over 5 years | — | -88.81% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -92.89% | — |
Current DrawdownCurrent decline from peak | -25.58% | -92.60% | +67.02% |
Average DrawdownAverage peak-to-trough decline | -15.34% | -43.91% | +28.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.11% | 12.82% | +0.29% |
Volatility
GGLL vs. TMF - Volatility Comparison
Direxion Daily GOOGL Bull 2X Shares (GGLL) has a higher volatility of 18.82% compared to Direxion Daily 20+ Year Treasury Bull 3X ETF (TMF) at 8.51%. This indicates that GGLL's price experiences larger fluctuations and is considered to be riskier than TMF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GGLL | TMF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.82% | 8.51% | +10.31% |
Volatility (6M)Calculated over the trailing 6-month period | 43.47% | 19.94% | +23.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 59.88% | 27.62% | +32.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 56.23% | 46.54% | +9.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 56.23% | 43.72% | +12.51% |
GGLL vs. TMF - Expense Ratio Comparison
GGLL has a 0.96% expense ratio, which is lower than TMF's 1.01% expense ratio.
Dividends
GGLL vs. TMF - Dividend Comparison
GGLL's dividend yield for the trailing twelve months is around 4.28%, less than TMF's 4.42% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
GGLL Direxion Daily GOOGL Bull 2X Shares | 4.28% | 4.16% | 3.29% | 2.05% | 0.59% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TMF Direxion Daily 20+ Year Treasury Bull 3X ETF | 4.42% | 4.06% | 4.29% | 2.82% | 1.62% | 0.13% | 2.23% | 0.94% | 1.49% | 0.41% |
Frequently Asked Questions
GGLL and TMF have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GGLL has higher volatility (18.82%) compared to TMF (8.51%). In terms of maximum drawdown, GGLL dropped -52.81% vs TMF's -92.89%.
On 3-year performance, GGLL leads with 62.72% vs -21.26% for TMF. On fees, GGLL is cheaper at 0.96% per year. On volatility, TMF has been the lower-risk option at 8.51%. 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 62.72% return vs -21.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GGLL is cheaper with a 0.96% expense ratio, compared with 1.01% for TMF.
TMF has the higher dividend yield at 4.42%, compared with 4.28% for GGLL.
GGLL is categorized as Leveraged Equities, while TMF is Leveraged Bonds. GGLL tracks Alphabet Inc. Class A (200%), while TMF tracks ICE U.S. Treasury 20+ Year Bond Index (300%). Their fees differ too: 0.96% for GGLL and 1.01% for TMF.
GGLL currently has the higher Sharpe Ratio (3.72 vs -0.21), 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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