GGLS vs. GOOG

Last updated Jun 4, 2026

GGLS (Direxion Daily GOOGL Bear 1X Shares) is Inverse Equities fund tracking the Alphabet Inc. Class A (--100%), while GOOG (Alphabet Inc) is a stock. Over the past 3 years, GGLS returned -31.29%/yr vs 42.00%/yr for GOOG. At a correlation of -1.00, they often move in opposite directions.

Performance

GGLS vs. GOOG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily GOOGL Bear 1X Shares (GGLS) and Alphabet Inc (GOOG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GGLS achieves a -14.40% return, which is significantly lower than GOOG's 13.43% return.

GGLS

• 1D: 0.70%
• 1M: 6.67%
• YTD: -14.40%
• 6M: -12.57%
• 1Y: -55.43%
• 3Y*: -31.29%
• 5Y*: —
• 10Y*: —

GOOG

• 1D: -0.76%
• 1M: -6.31%
• YTD: 13.43%
• 6M: 11.09%
• 1Y: 112.81%
• 3Y*: 42.00%
• 5Y*: 23.95%
• 10Y*: 25.80%

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

GGLS vs. GOOG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
GGLS Direxion Daily GOOGL Bear 1X Shares	-14.40%	-42.64%	-26.50%	-37.72%	19.63%
GOOG Alphabet Inc	13.43%	65.42%	35.62%	58.83%	-19.69%

Correlation

The correlation between GGLS and GOOG is -0.99, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.99
Correlation (3Y) Calculated over the trailing 3-year period	-1.00
Correlation (All Time) Calculated using the full available price history since Sep 8, 2022	-1.00

The correlation between GGLS and GOOG has been stable across timeframes, ranging from -1.00 to -0.99 - a consistent structural relationship.

Return for Risk

GGLS vs. GOOG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GGLS

GGLS Risk / Return Rank: 1
GGLS Sharpe Ratio Rank: 0
GGLS Sortino Ratio Rank: 0
GGLS Omega Ratio Rank: 0
GGLS Calmar Ratio Rank: 1
GGLS Martin Ratio Rank: 2

GOOG

GOOG Risk / Return Rank: 96
GOOG Sharpe Ratio Rank: 97
GOOG Sortino Ratio Rank: 98
GOOG Omega Ratio Rank: 96
GOOG Calmar Ratio Rank: 92
GOOG 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.

GGLS vs. GOOG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily GOOGL Bear 1X Shares (GGLS) and Alphabet Inc (GOOG). 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.

	GGLS	GOOG	Difference
Sharpe ratio Return per unit of total volatility	-1.91	3.98	-5.89
Sortino ratio Return per unit of downside risk	-3.07	5.35	-8.42
Omega ratio Gain probability vs. loss probability	0.63	1.64	-1.02
Calmar ratio Return relative to maximum drawdown	-0.92	5.47	-6.39
Martin ratio Return relative to average drawdown	-1.35	19.89	-21.24
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GGLS vs. GOOG - Sharpe Ratio Comparison

The current GGLS Sharpe Ratio is -1.91, which is lower than the GOOG Sharpe Ratio of 3.98. The chart below compares the historical Sharpe Ratios of GGLS and GOOG, 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

	GGLS	GOOG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.91	3.98	-5.89
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.77	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.89	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.95	0.82	-1.77

Drawdowns

GGLS vs. GOOG - Drawdown Comparison

The maximum GGLS drawdown since its inception was -81.24%, which is greater than GOOG's maximum drawdown of -44.60%. Use the drawdown chart below to compare losses from any high point for GGLS and GOOG.

Drawdown Indicators

	GGLS	GOOG	Difference
Max Drawdown Largest peak-to-trough decline	-81.24%	-44.60%	-36.64%
Max Drawdown (1Y) Largest decline over 1 year	-60.43%	-20.75%	-39.68%
Max Drawdown (3Y) Largest decline over 3 years	-73.06%	-29.35%	-43.71%
Max Drawdown (5Y) Largest decline over 5 years	—	-44.60%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-44.60%	—
Current Drawdown Current decline from peak	-78.97%	-10.87%	-68.10%
Average Drawdown Average peak-to-trough decline	-46.86%	-8.89%	-37.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	41.18%	5.69%	+35.49%

Volatility

GGLS vs. GOOG - Volatility Comparison

Direxion Daily GOOGL Bear 1X Shares (GGLS) and Alphabet Inc (GOOG) have volatilities of 8.19% and 8.08%, 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

	GGLS	GOOG	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.19%	8.08%	+0.11%
Volatility (6M) Calculated over the trailing 6-month period	21.23%	20.16%	+1.07%
Volatility (1Y) Calculated over the trailing 1-year period	29.17%	28.59%	+0.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.27%	31.10%	+0.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.27%	28.99%	+2.28%

Dividends

GGLS vs. GOOG - Dividend Comparison

GGLS's dividend yield for the trailing twelve months is around 4.93%, more than GOOG's 0.24% yield.

Position	TTM	2025	2024	2023	2022
GGLS Direxion Daily GOOGL Bear 1X Shares	4.93%	4.87%	4.31%	5.80%	0.20%
GOOG Alphabet Inc	0.24%	0.26%	0.32%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GGLS and GOOG in my portfolio?

GGLS and GOOG have a correlation of -0.99, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GGLS or GOOG?

GGLS has higher volatility (8.19%) compared to GOOG (8.08%). In terms of maximum drawdown, GGLS dropped -81.24% vs GOOG's -44.60%.

Which has better risk-adjusted returns?

GOOG currently has the higher Sharpe Ratio (3.98 vs -1.91), 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.