GGLS vs. GOOW

Last updated Aug 4, 2026

GGLS (Direxion Daily GOOGL Bear 1X Shares) and GOOW (Roundhill GOOGL WeeklyPay™ ETF) are both exchange-traded funds - GGLS is a Inverse Equities fund tracking the Alphabet Inc. Class A (--100%), while GOOW is a Derivative Income fund actively managed by Roundhill. GGLS is passively managed, while GOOW is actively managed. Over the past year, GGLS returned -52.10% vs 114.49% for GOOW. Their -0.98 correlation means they have often moved in opposite directions in the past. GGLS charges 1.09%/yr vs 0.99%/yr for GOOW.

Performance

GGLS vs. GOOW - Performance Comparison

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

Returns By Period

In the year-to-date period, GGLS achieves a -19.25% return, which is significantly lower than GOOW's 19.81% return.

GGLS

• 1D: -4.69%
• 1M: -4.87%
• 6M: -11.56%
• YTD: -19.25%
• 1Y: -52.10%
• 3Y*: -31.99%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -29.63%

GOOW

• 1D: 5.51%
• 1M: 3.59%
• 6M: 7.12%
• YTD: 19.81%
• 1Y: 114.49%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 101.27%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GGLS Direxion Daily GOOGL Bear 1X Shares	$9.37M	$27.43M	$62.55M
GOOW Roundhill GOOGL WeeklyPay™ ETF	$2.08M	$1.80M	$2.25M

GGLS vs. GOOW - Yearly Performance Comparison

	2026 (YTD)	2025
GGLS Direxion Daily GOOGL Bear 1X Shares	-19.25%	-40.34%
GOOW Roundhill GOOGL WeeklyPay™ ETF	19.81%	71.16%

Correlation

The correlation between GGLS and GOOW is -0.99, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.99
Correlation (All Time) Calculated using the full available price history since Jul 24, 2025	-0.98

The correlation between GGLS and GOOW has been stable across timeframes, ranging from -0.99 to -0.98 - a consistent structural relationship.

Return for Risk

GGLS vs. GOOW — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

GGLS

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

GOOW

GOOW Risk / Return Rank: 92
GOOW Sharpe Ratio Rank: 95
GOOW Sortino Ratio Rank: 94
GOOW Omega Ratio Rank: 92
GOOW Calmar Ratio Rank: 93
GOOW Martin Ratio Rank: 85

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

GGLS vs. GOOW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily GOOGL Bear 1X Shares (GGLS) and Roundhill GOOGL WeeklyPay™ ETF (GOOW). 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.

	GGLS	GOOW	Difference
Sharpe ratio: Return per unit of total volatility	-1.61	2.89	-4.51
Sortino ratio: Return per unit of downside risk	-2.55	3.76	-6.31
Omega ratio: Gain probability vs. loss probability	0.68	1.46	-0.78
Calmar ratio: Return relative to maximum drawdown	-0.98	4.53	-5.51
Martin ratio: Return relative to average drawdown	-1.38	12.41	-13.79

GGLS vs. GOOW - Sharpe Ratio Comparison

The current GGLS Sharpe Ratio is -1.61, which is lower than the GOOW Sharpe Ratio of 2.89. The chart below compares the historical Sharpe Ratios of GGLS and GOOW, 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

GGLS vs. GOOW - Drawdown Comparison

The maximum GGLS drawdown since its inception was -81.24%, which is greater than GOOW's maximum drawdown of -25.44%. Use the drawdown chart below to compare losses from any high point for GGLS and GOOW.

Drawdown Indicators

	GGLS	GOOW	Difference
Max Drawdown Largest peak-to-trough decline	-81.24%	-25.44%	-55.80%
Max Drawdown (1Y) Largest decline over 1 year	-53.32%	-25.44%	-27.88%
Max Drawdown (3Y) Largest decline over 3 years	-71.64%	—	—
Current Drawdown Current decline from peak	-80.16%	-9.90%	-70.26%
Average Drawdown Average peak-to-trough decline	-48.15%	-6.43%	-41.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	39.54%	9.26%	+30.28%

Volatility

GGLS vs. GOOW - Volatility Comparison

The current volatility for Direxion Daily GOOGL Bear 1X Shares (GGLS) is 13.90%, while Roundhill GOOGL WeeklyPay™ ETF (GOOW) has a volatility of 16.43%. This indicates that GGLS experiences smaller price fluctuations and is considered to be less risky than GOOW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GGLS	GOOW	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.90%	16.43%	-2.53%
Volatility (6M) Calculated over the trailing 6-month period	25.93%	30.92%	-4.99%
Volatility (1Y) Calculated over the trailing 1-year period	32.43%	39.89%	-7.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.76%	39.65%	-7.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.76%	39.65%	-7.89%

GGLS vs. GOOW - Expense Ratio Comparison

GGLS has a 1.09% expense ratio, which is higher than GOOW's 0.99% expense ratio.

Dividends

GGLS vs. GOOW - Dividend Comparison

GGLS's dividend yield for the trailing twelve months is around 3.16%, less than GOOW's 40.84% yield.

Position	TTM	2025	2024	2023	2022
GGLS Direxion Daily GOOGL Bear 1X Shares	3.16%	4.87%	4.31%	5.80%	0.20%
GOOW Roundhill GOOGL WeeklyPay™ ETF	40.84%	19.77%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GGLS and GOOW in my portfolio?

GGLS and GOOW 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 GOOW?

GOOW has higher volatility (16.43%) compared to GGLS (13.90%). In terms of maximum drawdown, GGLS dropped -81.24% vs GOOW's -25.44%.

Which ETF is better, GGLS or GOOW?

On 1-year performance, GOOW leads with 114.49% vs -52.10% for GGLS. On fees, GOOW is cheaper at 0.99% per year. On volatility, GGLS has been the lower-risk option at 13.90%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GGLS or GOOW?

Over the 1-year period, GOOW has performed better with a 114.49% return vs -52.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GGLS or GOOW?

GOOW is cheaper with a 0.99% expense ratio, compared with 1.09% for GGLS.

Which ETF pays a higher dividend yield, GGLS or GOOW?

GOOW has the higher dividend yield at 40.84%, compared with 3.16% for GGLS.

What is the main difference between GGLS and GOOW?

GGLS is categorized as Inverse Equities, while GOOW is Derivative Income. They also come from different issuers: Direxion and Roundhill. Their fees differ too: 1.09% for GGLS and 0.99% for GOOW.

Which has better risk-adjusted returns?

GOOW currently has the higher Sharpe Ratio (2.89 vs -1.61), 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.