GGLS vs. SOXS
GGLS (Direxion Daily GOOGL Bear 1X Shares) and SOXS (Direxion Daily Semiconductor Bear 3x Shares) are both Inverse Equities funds from Direxion - GGLS tracks the Alphabet Inc. Class A (--100%) while SOXS tracks the PHLX Semiconductor Index (-300%). Both are passively managed. Over the past 3 years, GGLS returned -31.99%/yr vs -85.20%/yr for SOXS. Their 0.46 correlation means their historical movements had little consistent relationship. GGLS charges 1.09%/yr vs 1.08%/yr for SOXS.
Performance
GGLS vs. SOXS - Performance Comparison
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Returns By Period
In the year-to-date period, GGLS achieves a -19.25% return, which is significantly higher than SOXS's -91.36% 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%
SOXS
- 1D
- -2.19%
- 1M
- 17.69%
- 6M
- -85.38%
- YTD
- -91.36%
- 1Y
- -96.54%
- 3Y*
- -85.20%
- 5Y*
- -78.25%
- 10Y*
- -77.95%
- ALL TIME*
- -70.83%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $9.37M | $27.43M | $62.55M | |
| $3.80B | $3.40B | $3.36B |
GGLS vs. SOXS - 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% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | -91.36% | -85.53% | -59.55% | -84.56% | -26.76% |
Correlation
The correlation between GGLS and SOXS is 0.35, which is low. Their historical price movements had little consistent relationship.
| 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 SOXS shifts across timeframes, from 0.35 (1 year) to 0.46 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
GGLS vs. SOXS — Risk / Return Rank
GGLS
SOXS
GGLS vs. SOXS - 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 Bear 3x Shares (SOXS). 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 | SOXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.88 | ||
| Sortino ratioReturn per unit of downside risk | -0.03 | ||
| Omega ratioGain probability vs. loss probability | 0.68 | 0.73 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | -0.98 | -0.99 | +0.01 |
| Martin ratioReturn relative to average drawdown | -1.38 | -1.35 | -0.03 |
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Drawdowns
GGLS vs. SOXS - Drawdown Comparison
The maximum GGLS drawdown since its inception was -81.24%, smaller than the maximum SOXS drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for GGLS and SOXS.
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Drawdown Indicators
| GGLS | SOXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.24% | -100.00% | +18.76% |
Max Drawdown (1Y)Largest decline over 1 year | -53.32% | -97.89% | +44.57% |
Max Drawdown (3Y)Largest decline over 3 years | -71.64% | -99.87% | +28.23% |
Max Drawdown (5Y)Largest decline over 5 years | — | -99.98% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -100.00% | — |
Current DrawdownCurrent decline from peak | -80.16% | -100.00% | +19.84% |
Average DrawdownAverage peak-to-trough decline | -48.15% | -92.66% | +44.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 39.54% | 71.53% | -31.99% |
Volatility
GGLS vs. SOXS - Volatility Comparison
The current volatility for Direxion Daily GOOGL Bear 1X Shares (GGLS) is 13.90%, while Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a volatility of 53.53%. This indicates that GGLS experiences smaller price fluctuations and is considered to be less risky than SOXS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GGLS | SOXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.90% | 53.53% | -39.63% |
Volatility (6M)Calculated over the trailing 6-month period | 25.93% | 116.62% | -90.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.43% | 132.65% | -100.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.76% | 114.59% | -82.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.76% | 103.78% | -72.02% |
GGLS vs. SOXS - Expense Ratio Comparison
GGLS has a 1.09% expense ratio, which is higher than SOXS's 1.08% expense ratio.
Dividends
GGLS vs. SOXS - Dividend Comparison
GGLS's dividend yield for the trailing twelve months is around 3.16%, less than SOXS's 42.78% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
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% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | 42.78% | 10.79% | 5.45% | 9.22% | 0.19% | 0.00% | 3.58% | 2.30% | 0.76% |
Frequently Asked Questions
GGLS and SOXS 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.
SOXS has higher volatility (53.53%) compared to GGLS (13.90%). In terms of maximum drawdown, GGLS dropped -81.24% vs SOXS's -100.00%.
On 3-year performance, GGLS leads with -31.99% vs -85.20% for SOXS. On fees, SOXS is cheaper at 1.08% 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, GGLS has performed better with a -31.99% return vs -85.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SOXS is cheaper with a 1.08% expense ratio, compared with 1.09% for GGLS.
SOXS has the higher dividend yield at 42.78%, compared with 3.16% for GGLS.
GGLS tracks Alphabet Inc. Class A (--100%), while SOXS tracks PHLX Semiconductor Index (-300%). Their fees differ too: 1.09% for GGLS and 1.08% for SOXS.
SOXS currently has the higher Sharpe Ratio (-0.73 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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