GGLS vs. MSFY

Last updated Jun 4, 2026

GGLS (Direxion Daily GOOGL Bear 1X Shares) and MSFY (Kurv Yield Premium Strategy Microsoft ETF) are both exchange-traded funds - GGLS is a Inverse Equities fund tracking the Alphabet Inc. Class A (--100%), while MSFY is a Derivative Income fund actively managed by Kurv. GGLS is passively managed, while MSFY is actively managed. Over the past year, GGLS returned -55.43% vs -7.25% for MSFY. At a correlation of -0.42, they often move in opposite directions. GGLS charges 1.09%/yr vs 1.00%/yr for MSFY.

Performance

GGLS vs. MSFY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily GOOGL Bear 1X Shares (GGLS) and Kurv Yield Premium Strategy Microsoft ETF (MSFY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with GGLS having a -14.40% return and MSFY slightly higher at -13.99%.

GGLS

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

MSFY

• 1D: -3.43%
• 1M: 4.37%
• YTD: -13.99%
• 6M: -12.67%
• 1Y: -7.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GGLS vs. MSFY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
GGLS Direxion Daily GOOGL Bear 1X Shares	-14.40%	-42.64%	-26.50%	-6.25%
MSFY Kurv Yield Premium Strategy Microsoft ETF	-13.99%	14.11%	10.88%	2.57%

Correlation

The correlation between GGLS and MSFY is -0.16, 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	-0.16
Correlation (All Time) Calculated using the full available price history since Nov 7, 2023	-0.42

Over the past year, the inverse relationship between GGLS and MSFY has weakened: their correlation has moved from -0.42 to -0.16, meaning they move in opposite directions less often than they have historically.

Return for Risk

GGLS vs. MSFY — 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

MSFY

MSFY Risk / Return Rank: 6
MSFY Sharpe Ratio Rank: 6
MSFY Sortino Ratio Rank: 6
MSFY Omega Ratio Rank: 6
MSFY Calmar Ratio Rank: 7
MSFY Martin Ratio Rank: 7

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. MSFY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily GOOGL Bear 1X Shares (GGLS) and Kurv Yield Premium Strategy Microsoft ETF (MSFY). 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	MSFY	Difference
Sharpe ratio Return per unit of total volatility	-1.91	-0.27	-1.64
Sortino ratio Return per unit of downside risk	-3.07	-0.19	-2.87
Omega ratio Gain probability vs. loss probability	0.63	0.97	-0.35
Calmar ratio Return relative to maximum drawdown	-0.92	-0.21	-0.71
Martin ratio Return relative to average drawdown	-1.35	-0.47	-0.88
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. MSFY - Sharpe Ratio Comparison

The current GGLS Sharpe Ratio is -1.91, which is lower than the MSFY Sharpe Ratio of -0.27. The chart below compares the historical Sharpe Ratios of GGLS and MSFY, 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	MSFY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.91	-0.27	-1.64
Sharpe Ratio (All Time) Calculated using the full available price history	-0.95	0.20	-1.15

Drawdowns

GGLS vs. MSFY - Drawdown Comparison

The maximum GGLS drawdown since its inception was -81.24%, which is greater than MSFY's maximum drawdown of -34.21%. Use the drawdown chart below to compare losses from any high point for GGLS and MSFY.

Drawdown Indicators

	GGLS	MSFY	Difference
Max Drawdown Largest peak-to-trough decline	-81.24%	-34.21%	-47.03%
Max Drawdown (1Y) Largest decline over 1 year	-60.43%	-34.21%	-26.22%
Max Drawdown (3Y) Largest decline over 3 years	-73.06%	—	—
Current Drawdown Current decline from peak	-78.97%	-20.53%	-58.44%
Average Drawdown Average peak-to-trough decline	-46.86%	-7.20%	-39.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	41.18%	15.40%	+25.78%

Volatility

GGLS vs. MSFY - Volatility Comparison

The current volatility for Direxion Daily GOOGL Bear 1X Shares (GGLS) is 8.19%, while Kurv Yield Premium Strategy Microsoft ETF (MSFY) has a volatility of 10.84%. This indicates that GGLS experiences smaller price fluctuations and is considered to be less risky than MSFY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GGLS	MSFY	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.19%	10.84%	-2.65%
Volatility (6M) Calculated over the trailing 6-month period	21.23%	25.02%	-3.79%
Volatility (1Y) Calculated over the trailing 1-year period	29.17%	26.51%	+2.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.27%	22.27%	+9.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.27%	22.27%	+9.00%

GGLS vs. MSFY - Expense Ratio Comparison

GGLS has a 1.09% expense ratio, which is higher than MSFY's 1.00% expense ratio.

Dividends

GGLS vs. MSFY - Dividend Comparison

GGLS's dividend yield for the trailing twelve months is around 4.93%, less than MSFY's 24.31% yield.

Position	TTM	2025	2024	2023	2022
GGLS Direxion Daily GOOGL Bear 1X Shares	4.93%	4.87%	4.31%	5.80%	0.20%
MSFY Kurv Yield Premium Strategy Microsoft ETF	24.31%	18.56%	14.35%	1.94%	0.00%

Frequently Asked Questions

Can I hold both GGLS and MSFY in my portfolio?

GGLS and MSFY have a correlation of -0.16, 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 MSFY?

MSFY has higher volatility (10.84%) compared to GGLS (8.19%). In terms of maximum drawdown, GGLS dropped -81.24% vs MSFY's -34.21%.

Which ETF is better, GGLS or MSFY?

On 1-year performance, MSFY leads with -7.25% vs -55.43% for GGLS. On fees, MSFY is cheaper at 1.00% per year. On volatility, GGLS has been the lower-risk option at 8.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GGLS or MSFY?

Over the 1-year period, MSFY has performed better with a -7.25% return vs -55.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GGLS or MSFY?

MSFY is cheaper with a 1.00% expense ratio, compared with 1.09% for GGLS.

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

MSFY has the higher dividend yield at 24.31%, compared with 4.93% for GGLS.

What is the main difference between GGLS and MSFY?

GGLS is categorized as Inverse Equities, while MSFY is Derivative Income. They also come from different issuers: Direxion and Kurv. Their fees differ too: 1.09% for GGLS and 1.00% for MSFY.

Which has better risk-adjusted returns?

MSFY currently has the higher Sharpe Ratio (-0.27 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.