GGLS vs. SOXL
GGLS (Direxion Daily GOOGL Bear 1X Shares) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both exchange-traded funds - GGLS is a Inverse Equities fund tracking the Alphabet Inc. Class A (--100%), while SOXL is a Leveraged Equities fund tracking the NYSE Semiconductor Index. Both are passively managed. Over the past 3 years, GGLS returned -31.99%/yr vs 68.44%/yr for SOXL. Their -0.46 correlation means they have often moved in opposite directions in the past. GGLS charges 1.09%/yr vs 0.75%/yr for SOXL.
Performance
GGLS vs. SOXL - 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 SOXL's 177.68% 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%
SOXL
- 1D
- 1.73%
- 1M
- -35.69%
- 6M
- 79.00%
- YTD
- 177.68%
- 1Y
- 384.82%
- 3Y*
- 68.44%
- 5Y*
- 20.37%
- 10Y*
- 47.85%
- ALL TIME*
- 38.13%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $9.37M | $27.43M | $62.55M | |
| $10.83B | $10.43B | $11.85B |
GGLS vs. SOXL - 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% |
SOXL Direxion Daily Semiconductor Bull 3X ETF | 177.68% | 54.91% | -12.31% | 226.98% | -21.61% |
Correlation
The correlation between GGLS and SOXL is -0.35, 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. | -0.35 |
Correlation (3Y) Balances recent behavior with more history. | -0.42 |
Correlation (All Time) Calculated using the full available price history since Sep 7, 2022 | -0.46 |
The correlation between GGLS and SOXL shifts across timeframes, from -0.46 (all time) to -0.35 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GGLS vs. SOXL — Risk / Return Rank
GGLS
SOXL
GGLS vs. SOXL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily GOOGL Bear 1X Shares (GGLS) and Direxion Daily Semiconductor Bull 3X ETF (SOXL). 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 | SOXL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.59 | ||
| Sortino ratioReturn per unit of downside risk | -5.31 | ||
| Omega ratioGain probability vs. loss probability | 0.68 | 1.37 | -0.69 |
| Calmar ratioReturn relative to maximum drawdown | -0.98 | 5.59 | -6.57 |
| Martin ratioReturn relative to average drawdown | -1.38 | 18.97 | -20.35 |
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Drawdowns
GGLS vs. SOXL - Drawdown Comparison
The maximum GGLS drawdown since its inception was -81.24%, smaller than the maximum SOXL drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for GGLS and SOXL.
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Drawdown Indicators
| GGLS | SOXL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.24% | -90.46% | +9.22% |
Max Drawdown (1Y)Largest decline over 1 year | -53.32% | -69.42% | +16.10% |
Max Drawdown (3Y)Largest decline over 3 years | -71.64% | -87.88% | +16.24% |
Max Drawdown (5Y)Largest decline over 5 years | — | -90.46% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -90.46% | — |
Current DrawdownCurrent decline from peak | -80.16% | -61.20% | -18.96% |
Average DrawdownAverage peak-to-trough decline | -48.15% | -35.01% | -13.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 39.54% | 20.40% | +19.14% |
Volatility
GGLS vs. SOXL - Volatility Comparison
The current volatility for Direxion Daily GOOGL Bear 1X Shares (GGLS) is 13.90%, while Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a volatility of 50.40%. This indicates that GGLS experiences smaller price fluctuations and is considered to be less risky than SOXL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GGLS | SOXL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.90% | 50.40% | -36.50% |
Volatility (6M)Calculated over the trailing 6-month period | 25.93% | 114.71% | -88.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.43% | 130.75% | -98.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.76% | 113.25% | -81.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.76% | 102.14% | -70.38% |
GGLS vs. SOXL - Expense Ratio Comparison
GGLS has a 1.09% expense ratio, which is higher than SOXL's 0.75% expense ratio.
Dividends
GGLS vs. SOXL - Dividend Comparison
GGLS's dividend yield for the trailing twelve months is around 3.16%, more than SOXL's 0.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
SOXL Direxion Daily Semiconductor Bull 3X ETF | 0.01% | 0.34% | 1.18% | 0.51% | 1.07% | 0.04% | 0.05% | 0.38% | 1.30% | 0.09% | 4.84% |
Frequently Asked Questions
GGLS and SOXL have a correlation of -0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXL has higher volatility (50.40%) compared to GGLS (13.90%). In terms of maximum drawdown, GGLS dropped -81.24% vs SOXL's -90.46%.
On 3-year performance, SOXL leads with 68.44% vs -31.99% for GGLS. On fees, SOXL is cheaper at 0.75% 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.
Over the 3-year period, SOXL has performed better with a 68.44% return vs -31.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SOXL is cheaper with a 0.75% expense ratio, compared with 1.09% for GGLS.
GGLS has the higher dividend yield at 3.16%, compared with 0.01% for SOXL.
GGLS is categorized as Inverse Equities, while SOXL is Leveraged Equities. GGLS tracks Alphabet Inc. Class A (--100%), while SOXL tracks NYSE Semiconductor Index. Their fees differ too: 1.09% for GGLS and 0.75% for SOXL.
SOXL currently has the higher Sharpe Ratio (2.97 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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