GGLS vs. SKRE

Last updated Aug 4, 2026

GGLS (Direxion Daily GOOGL Bear 1X Shares) and SKRE (Tuttle Capital Daily 2X Inverse Regional Banks ETF) are both Inverse Equities funds - GGLS tracks the Alphabet Inc. Class A (--100%) while SKRE tracks the S&P Regional Banks Select Industry. Both are passively managed. Over the past year, GGLS returned -52.10% vs -50.55% for SKRE. Their 0.25 correlation means their historical movements had little consistent relationship. GGLS charges 1.09%/yr vs 0.75%/yr for SKRE.

Performance

GGLS vs. SKRE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily GOOGL Bear 1X Shares (GGLS) and Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE). 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 higher than SKRE's -35.15% 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%

SKRE

• 1D: -2.27%
• 1M: -5.74%
• 6M: -23.25%
• YTD: -35.15%
• 1Y: -50.55%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -41.81%

*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
SKRE Tuttle Capital Daily 2X Inverse Regional Banks ETF	$121.93K	$143.27K	$245.32K

GGLS vs. SKRE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
GGLS Direxion Daily GOOGL Bear 1X Shares	-19.25%	-42.64%	-26.91%
SKRE Tuttle Capital Daily 2X Inverse Regional Banks ETF	-35.15%	-31.29%	-44.47%

Correlation

The correlation between GGLS and SKRE is 0.22, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.22
Correlation (All Time) Calculated using the full available price history since Jan 4, 2024	0.25

Return for Risk

GGLS vs. SKRE — 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

SKRE

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

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. SKRE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily GOOGL Bear 1X Shares (GGLS) and Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE). 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	SKRE	Difference
Sharpe ratio: Return per unit of total volatility	-1.61	-1.11	-0.51
Sortino ratio: Return per unit of downside risk	-2.55	-1.79	-0.76
Omega ratio: Gain probability vs. loss probability	0.68	0.80	-0.11
Calmar ratio: Return relative to maximum drawdown	-0.98	-0.99	+0.01
Martin ratio: Return relative to average drawdown	-1.38	-1.65	+0.27

GGLS vs. SKRE - Sharpe Ratio Comparison

The current GGLS Sharpe Ratio is -1.61, which is lower than the SKRE Sharpe Ratio of -1.11. The chart below compares the historical Sharpe Ratios of GGLS and SKRE, 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. SKRE - Drawdown Comparison

The maximum GGLS drawdown since its inception was -81.24%, roughly equal to the maximum SKRE drawdown of -79.33%. Use the drawdown chart below to compare losses from any high point for GGLS and SKRE.

Drawdown Indicators

	GGLS	SKRE	Difference
Max Drawdown Largest peak-to-trough decline	-81.24%	-79.33%	-1.91%
Max Drawdown (1Y) Largest decline over 1 year	-53.32%	-51.44%	-1.88%
Max Drawdown (3Y) Largest decline over 3 years	-71.64%	—	—
Current Drawdown Current decline from peak	-80.16%	-78.96%	-1.20%
Average Drawdown Average peak-to-trough decline	-48.15%	-49.09%	+0.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	39.54%	30.75%	+8.79%

Volatility

GGLS vs. SKRE - Volatility Comparison

Direxion Daily GOOGL Bear 1X Shares (GGLS) has a higher volatility of 13.90% compared to Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE) at 10.82%. This indicates that GGLS's price experiences larger fluctuations and is considered to be riskier than SKRE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GGLS	SKRE	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.90%	10.82%	+3.08%
Volatility (6M) Calculated over the trailing 6-month period	25.93%	30.42%	-4.49%
Volatility (1Y) Calculated over the trailing 1-year period	32.43%	45.86%	-13.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.76%	54.75%	-22.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.76%	54.75%	-22.99%

GGLS vs. SKRE - Expense Ratio Comparison

GGLS has a 1.09% expense ratio, which is higher than SKRE's 0.75% expense ratio.

Dividends

GGLS vs. SKRE - Dividend Comparison

GGLS's dividend yield for the trailing twelve months is around 3.16%, more than SKRE's 0.39% yield.

Position	TTM	2025	2024	2023	2022
GGLS Direxion Daily GOOGL Bear 1X Shares	3.16%	4.87%	4.31%	5.80%	0.20%
SKRE Tuttle Capital Daily 2X Inverse Regional Banks ETF	0.39%	0.26%	3.16%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GGLS and SKRE in my portfolio?

GGLS and SKRE have a correlation of 0.22, 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 SKRE?

GGLS has higher volatility (13.90%) compared to SKRE (10.82%). In terms of maximum drawdown, GGLS dropped -81.24% vs SKRE's -79.33%.

Which ETF is better, GGLS or SKRE?

On 1-year performance, SKRE leads with -50.55% vs -52.10% for GGLS. On fees, SKRE is cheaper at 0.75% per year. On volatility, SKRE has been the lower-risk option at 10.82%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GGLS or SKRE?

Over the 1-year period, SKRE has performed better with a -50.55% 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 SKRE?

SKRE is cheaper with a 0.75% expense ratio, compared with 1.09% for GGLS.

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

GGLS has the higher dividend yield at 3.16%, compared with 0.39% for SKRE.

What is the main difference between GGLS and SKRE?

GGLS tracks Alphabet Inc. Class A (--100%), while SKRE tracks S&P Regional Banks Select Industry. They also come from different issuers: Direxion and Tuttle. Their fees differ too: 1.09% for GGLS and 0.75% for SKRE.

Which has better risk-adjusted returns?

SKRE currently has the higher Sharpe Ratio (-1.11 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.