GGLS vs. QQQE
GGLS (Direxion Daily GOOGL Bear 1X Shares) and QQQE (Direxion NASDAQ-100 Equal Weighted Index Shares) are both exchange-traded funds - GGLS is a Inverse Equities fund tracking the Alphabet Inc. Class A (--100%), while QQQE is a Nasdaq-100 fund tracking the NASDAQ-100 Equal Weighted Index. Both are passively managed. Over the past 3 years, GGLS returned -31.99%/yr vs 15.78%/yr for QQQE. Their -0.54 correlation means they have often moved in opposite directions in the past. GGLS charges 1.09%/yr vs 0.35%/yr for QQQE.
Performance
GGLS vs. QQQE - Performance Comparison
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Returns By Period
In the year-to-date period, GGLS achieves a -19.25% return, which is significantly lower than QQQE's 16.27% 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%
QQQE
- 1D
- 1.29%
- 1M
- -1.31%
- 6M
- 13.79%
- YTD
- 16.27%
- 1Y
- 23.25%
- 3Y*
- 15.78%
- 5Y*
- 8.28%
- 10Y*
- 14.69%
- ALL TIME*
- 14.41%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $9.37M | $27.43M | $62.55M | |
| $23.47M | $22.17M | $24.25M |
GGLS vs. QQQE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
GGLS Direxion Daily GOOGL Bear 1X Shares | -19.25% | -42.64% | -26.50% | -37.72% | 19.63% |
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares | 16.27% | 14.58% | 6.98% | 33.76% | -1.13% |
Correlation
The correlation between GGLS and QQQE is -0.44, 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. | -0.44 |
Correlation (3Y) Balances recent behavior with more history. | -0.49 |
Correlation (All Time) Calculated using the full available price history since Sep 7, 2022 | -0.54 |
The correlation between GGLS and QQQE shifts across timeframes, from -0.54 (all time) to -0.44 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GGLS vs. QQQE — Risk / Return Rank
GGLS
QQQE
GGLS vs. QQQE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily GOOGL Bear 1X Shares (GGLS) and Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE). 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 | QQQE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.08 | ||
| Sortino ratioReturn per unit of downside risk | -4.60 | ||
| Omega ratioGain probability vs. loss probability | 0.68 | 1.25 | -0.57 |
| Calmar ratioReturn relative to maximum drawdown | -0.98 | 2.48 | -3.46 |
| Martin ratioReturn relative to average drawdown | -1.38 | 7.91 | -9.29 |
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Drawdowns
GGLS vs. QQQE - Drawdown Comparison
The maximum GGLS drawdown since its inception was -81.24%, which is greater than QQQE's maximum drawdown of -32.14%. Use the drawdown chart below to compare losses from any high point for GGLS and QQQE.
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Drawdown Indicators
| GGLS | QQQE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.24% | -32.14% | -49.10% |
Max Drawdown (1Y)Largest decline over 1 year | -53.32% | -9.41% | -43.91% |
Max Drawdown (3Y)Largest decline over 3 years | -71.64% | -21.38% | -50.26% |
Max Drawdown (5Y)Largest decline over 5 years | — | -32.14% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -32.14% | — |
Current DrawdownCurrent decline from peak | -80.16% | -3.22% | -76.94% |
Average DrawdownAverage peak-to-trough decline | -48.15% | -5.14% | -43.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 39.54% | 2.94% | +36.60% |
Volatility
GGLS vs. QQQE - Volatility Comparison
Direxion Daily GOOGL Bear 1X Shares (GGLS) has a higher volatility of 13.90% compared to Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) at 3.89%. This indicates that GGLS's price experiences larger fluctuations and is considered to be riskier than QQQE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GGLS | QQQE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.90% | 3.89% | +10.01% |
Volatility (6M)Calculated over the trailing 6-month period | 25.93% | 12.92% | +13.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.43% | 15.92% | +16.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.76% | 20.59% | +11.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.76% | 20.76% | +11.00% |
GGLS vs. QQQE - Expense Ratio Comparison
GGLS has a 1.09% expense ratio, which is higher than QQQE's 0.35% expense ratio.
Dividends
GGLS vs. QQQE - Dividend Comparison
GGLS's dividend yield for the trailing twelve months is around 3.16%, more than QQQE's 0.57% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GGLS Direxion Daily GOOGL Bear 1X Shares | 3.16% | 4.87% | 4.31% | 5.80% | 0.20% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares | 0.57% | 0.52% | 0.86% | 0.79% | 0.98% | 3.83% | 0.54% | 0.74% | 0.80% | 0.65% | 1.17% | 0.57% |
Frequently Asked Questions
GGLS and QQQE have a correlation of -0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GGLS has higher volatility (13.90%) compared to QQQE (3.89%). In terms of maximum drawdown, GGLS dropped -81.24% vs QQQE's -32.14%.
On 3-year performance, QQQE leads with 15.78% vs -31.99% for GGLS. On fees, QQQE is cheaper at 0.35% per year. On volatility, QQQE has been the lower-risk option at 3.89%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, QQQE has performed better with a 15.78% return vs -31.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QQQE is cheaper with a 0.35% expense ratio, compared with 1.09% for GGLS.
GGLS has the higher dividend yield at 3.16%, compared with 0.57% for QQQE.
GGLS is categorized as Inverse Equities, while QQQE is Nasdaq-100. GGLS tracks Alphabet Inc. Class A (--100%), while QQQE tracks NASDAQ-100 Equal Weighted Index. Their fees differ too: 1.09% for GGLS and 0.35% for QQQE.
QQQE currently has the higher Sharpe Ratio (1.47 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.
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