GGLL vs. TSMX

Last updated Jun 3, 2026

GGLL (Direxion Daily GOOGL Bull 2X Shares) and TSMX (Direxion Daily TSM Bull 2X Shares) are both Leveraged Equities funds from Direxion. GGLL is passively managed, while TSMX is actively managed. Over the past year, GGLL returned 285.33% vs 324.82% for TSMX. At a 0.42 correlation, their price movements are largely independent. Both charge a 1.05% expense ratio.

Performance

GGLL vs. TSMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily GOOGL Bull 2X Shares (GGLL) and Direxion Daily TSM Bull 2X Shares (TSMX). 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 lower than TSMX's 94.10% return.

GGLL

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

TSMX

• 1D: 4.81%
• 1M: 23.50%
• YTD: 94.10%
• 6M: 108.35%
• 1Y: 324.82%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GGLL vs. TSMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
GGLL Direxion Daily GOOGL Bull 2X Shares	23.97%	123.07%	24.70%
TSMX Direxion Daily TSM Bull 2X Shares	94.10%	81.48%	14.76%

Correlation

The correlation between GGLL and TSMX is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (All Time) Calculated using the full available price history since Oct 4, 2024	0.42

GGLL vs. TSMX - Sectors Allocation Comparison

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

Return for Risk

GGLL vs. TSMX — 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

TSMX

TSMX Risk / Return Rank: 91
TSMX Sharpe Ratio Rank: 97
TSMX Sortino Ratio Rank: 87
TSMX Omega Ratio Rank: 79
TSMX Calmar Ratio Rank: 96
TSMX Martin Ratio Rank: 95

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. TSMX - 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 TSM Bull 2X Shares (TSMX). 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	TSMX	Difference
Sharpe ratio Return per unit of total volatility	4.92	4.58	+0.34
Sortino ratio Return per unit of downside risk	4.87	3.97	+0.90
Omega ratio Gain probability vs. loss probability	1.58	1.48	+0.10
Calmar ratio Return relative to maximum drawdown	7.14	9.49	-2.36
Martin ratio Return relative to average drawdown	24.83	31.06	-6.24
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. TSMX - Sharpe Ratio Comparison

The current GGLL Sharpe Ratio is 4.92, which is comparable to the TSMX Sharpe Ratio of 4.58. The chart below compares the historical Sharpe Ratios of GGLL and TSMX, 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	TSMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.92	4.58	+0.34
Sharpe Ratio (All Time) Calculated using the full available price history	1.00	1.65	-0.66

Drawdowns

GGLL vs. TSMX - Drawdown Comparison

The maximum GGLL drawdown since its inception was -52.81%, smaller than the maximum TSMX drawdown of -63.80%. Use the drawdown chart below to compare losses from any high point for GGLL and TSMX.

Drawdown Indicators

	GGLL	TSMX	Difference
Max Drawdown Largest peak-to-trough decline	-52.81%	-63.80%	+10.99%
Max Drawdown (1Y) Largest decline over 1 year	-38.39%	-34.93%	-3.46%
Max Drawdown (3Y) Largest decline over 3 years	-52.81%	—	—
Current Drawdown Current decline from peak	-19.89%	0.00%	-19.89%
Average Drawdown Average peak-to-trough decline	-15.16%	-15.88%	+0.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.04%	10.67%	+0.37%

Volatility

GGLL vs. TSMX - Volatility Comparison

The current volatility for Direxion Daily GOOGL Bull 2X Shares (GGLL) is 16.60%, while Direxion Daily TSM Bull 2X Shares (TSMX) has a volatility of 22.31%. This indicates that GGLL experiences smaller price fluctuations and is considered to be less risky than TSMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GGLL	TSMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.60%	22.31%	-5.71%
Volatility (6M) Calculated over the trailing 6-month period	40.82%	54.31%	-13.49%
Volatility (1Y) Calculated over the trailing 1-year period	58.47%	71.46%	-12.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	56.06%	80.94%	-24.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	56.06%	80.94%	-24.88%

GGLL vs. TSMX - Expense Ratio Comparison

Both GGLL and TSMX have an expense ratio of 1.05%.

Dividends

GGLL vs. TSMX - Dividend Comparison

GGLL's dividend yield for the trailing twelve months is around 3.68%, less than TSMX's 4.25% yield.

Position	TTM	2025	2024	2023	2022
GGLL Direxion Daily GOOGL Bull 2X Shares	3.68%	4.16%	3.29%	2.05%	0.59%
TSMX Direxion Daily TSM Bull 2X Shares	4.25%	8.01%	0.53%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GGLL and TSMX in my portfolio?

GGLL and TSMX have a correlation of 0.40, 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 TSMX?

TSMX has higher volatility (22.31%) compared to GGLL (16.60%). In terms of maximum drawdown, GGLL dropped -52.81% vs TSMX's -63.80%.

Which ETF is better, GGLL or TSMX?

On 1-year performance, TSMX leads with 324.82% vs 285.33% for GGLL. Both ETFs have the same 1.05% expense ratio. On volatility, GGLL has been the lower-risk option at 16.60%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GGLL or TSMX?

Over the 1-year period, TSMX has performed better with a 324.82% return vs 285.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GGLL or TSMX?

GGLL and TSMX have the same expense ratio: 1.05% per year.

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

TSMX has the higher dividend yield at 4.25%, compared with 3.68% for GGLL.

Which has better risk-adjusted returns?

GGLL currently has the higher Sharpe Ratio (4.92 vs 4.58), 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.