GGLS vs. IOO
GGLS (Direxion Daily GOOGL Bear 1X Shares) and IOO (iShares Global 100 ETF) are both exchange-traded funds - GGLS is a Inverse Equities fund tracking the Alphabet Inc. Class A (--100%), while IOO is a Global Equities fund tracking the S&P Global 100 Index (Net). Both are passively managed. Over the past 3 years, GGLS returned -31.05%/yr vs 23.11%/yr for IOO. At a correlation of -0.68, they often move in opposite directions. GGLS charges 1.09%/yr vs 0.40%/yr for IOO.
Performance
GGLS vs. IOO - Performance Comparison
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Returns By Period
In the year-to-date period, GGLS achieves a -11.68% return, which is significantly lower than IOO's 7.38% return.
GGLS
- 1D
- 0.73%
- 1M
- 9.96%
- YTD
- -11.68%
- 6M
- -11.22%
- 1Y
- -54.25%
- 3Y*
- -31.05%
- 5Y*
- —
- 10Y*
- —
IOO
- 1D
- -1.40%
- 1M
- -3.92%
- YTD
- 7.38%
- 6M
- 6.92%
- 1Y
- 31.18%
- 3Y*
- 23.11%
- 5Y*
- 15.43%
- 10Y*
- 16.63%
GGLS vs. IOO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
GGLS Direxion Daily GOOGL Bear 1X Shares | -11.68% | -42.64% | -26.50% | -37.72% | 19.63% |
IOO iShares Global 100 ETF | 7.38% | 27.02% | 26.54% | 27.71% | -0.35% |
Correlation
The correlation between GGLS and IOO is -0.64, 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 | -0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.65 |
Correlation (All Time) Calculated using the full available price history since Sep 7, 2022 | -0.68 |
The correlation between GGLS and IOO has been stable across timeframes, ranging from -0.68 to -0.64 - a consistent structural relationship.
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Return for Risk
GGLS vs. IOO — Risk / Return Rank
GGLS
IOO
GGLS vs. IOO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily GOOGL Bear 1X Shares (GGLS) and iShares Global 100 ETF (IOO). 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 | IOO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.03 | ||
| Sortino ratioReturn per unit of downside risk | -5.92 | ||
| Omega ratioGain probability vs. loss probability | 0.64 | 1.39 | -0.75 |
| Calmar ratioReturn relative to maximum drawdown | -0.91 | 3.15 | -4.06 |
| Martin ratioReturn relative to average drawdown | -1.28 | 13.53 | -14.80 |
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Drawdowns
GGLS vs. IOO - Drawdown Comparison
The maximum GGLS drawdown since its inception was -81.24%, which is greater than IOO's maximum drawdown of -55.85%. Use the drawdown chart below to compare losses from any high point for GGLS and IOO.
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Drawdown Indicators
| GGLS | IOO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.24% | -55.85% | -25.39% |
Max Drawdown (1Y)Largest decline over 1 year | -60.00% | -9.94% | -50.06% |
Max Drawdown (3Y)Largest decline over 3 years | -73.06% | -19.19% | -53.87% |
Max Drawdown (5Y)Largest decline over 5 years | — | -23.52% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -31.43% | — |
Current DrawdownCurrent decline from peak | -78.30% | -5.61% | -72.69% |
Average DrawdownAverage peak-to-trough decline | -47.25% | -11.25% | -36.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 43.10% | 2.31% | +40.79% |
Volatility
GGLS vs. IOO - Volatility Comparison
Direxion Daily GOOGL Bear 1X Shares (GGLS) has a higher volatility of 9.55% compared to iShares Global 100 ETF (IOO) at 5.30%. This indicates that GGLS's price experiences larger fluctuations and is considered to be riskier than IOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GGLS | IOO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.55% | 5.30% | +4.25% |
Volatility (6M)Calculated over the trailing 6-month period | 21.99% | 11.51% | +10.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.65% | 14.27% | +15.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.32% | 17.17% | +14.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.32% | 17.73% | +13.59% |
GGLS vs. IOO - Expense Ratio Comparison
GGLS has a 1.09% expense ratio, which is higher than IOO's 0.40% expense ratio.
Dividends
GGLS vs. IOO - Dividend Comparison
GGLS's dividend yield for the trailing twelve months is around 5.36%, more than IOO's 0.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GGLS Direxion Daily GOOGL Bear 1X Shares | 5.36% | 4.87% | 4.31% | 5.80% | 0.20% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IOO iShares Global 100 ETF | 0.86% | 0.92% | 1.08% | 1.49% | 2.00% | 1.53% | 1.49% | 2.02% | 2.54% | 2.23% | 2.75% | 2.89% |
Frequently Asked Questions
GGLS and IOO have a correlation of -0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GGLS has higher volatility (9.55%) compared to IOO (5.30%). In terms of maximum drawdown, GGLS dropped -81.24% vs IOO's -55.85%.
On 3-year performance, IOO leads with 23.11% vs -31.05% for GGLS. On fees, IOO is cheaper at 0.40% per year. On volatility, IOO has been the lower-risk option at 5.30%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, IOO has performed better with a 23.11% return vs -31.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IOO is cheaper with a 0.40% expense ratio, compared with 1.09% for GGLS.
GGLS has the higher dividend yield at 5.36%, compared with 0.86% for IOO.
GGLS is categorized as Inverse Equities, while IOO is Global Equities. GGLS tracks Alphabet Inc. Class A (--100%), while IOO tracks S&P Global 100 Index (Net). They also come from different issuers: Direxion and iShares. Their fees differ too: 1.09% for GGLS and 0.40% for IOO.
IOO currently has the higher Sharpe Ratio (2.20 vs -1.84), 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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