GGLS vs. TECL
GGLS (Direxion Daily GOOGL Bear 1X Shares) and TECL (Direxion Daily Technology Bull 3X Shares) are both exchange-traded funds - GGLS is a Inverse Equities fund tracking the Alphabet Inc. Class A (--100%), while TECL is a Leveraged Equities fund tracking the Technology Select Sector Index (300%). Both are passively managed. Over the past 3 years, GGLS returned -31.29%/yr vs 80.64%/yr for TECL. At a correlation of -0.59, they often move in opposite directions. GGLS charges 1.09%/yr vs 0.91%/yr for TECL.
Performance
GGLS vs. TECL - Performance Comparison
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Returns By Period
In the year-to-date period, GGLS achieves a -14.40% return, which is significantly lower than TECL's 125.87% return.
GGLS
- 1D
- 0.70%
- 1M
- 6.67%
- YTD
- -14.40%
- 6M
- -12.57%
- 1Y
- -55.43%
- 3Y*
- -31.29%
- 5Y*
- —
- 10Y*
- —
TECL
- 1D
- -2.99%
- 1M
- 73.10%
- YTD
- 125.87%
- 6M
- 118.69%
- 1Y
- 267.85%
- 3Y*
- 80.64%
- 5Y*
- 43.44%
- 10Y*
- 54.49%
GGLS vs. TECL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
GGLS Direxion Daily GOOGL Bear 1X Shares | -14.40% | -42.64% | -26.50% | -37.72% | 19.63% |
TECL Direxion Daily Technology Bull 3X Shares | 125.87% | 38.60% | 36.15% | 203.14% | -29.47% |
Correlation
The correlation between GGLS and TECL is -0.44, 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 | -0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.54 |
Correlation (All Time) Calculated using the full available price history since Sep 8, 2022 | -0.59 |
The correlation between GGLS and TECL shifts across timeframes, from -0.59 (all time) to -0.44 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GGLS vs. TECL — Risk / Return Rank
GGLS
TECL
GGLS vs. TECL - 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 Technology Bull 3X Shares (TECL). 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 | TECL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -6.26 | ||
| Sortino ratioReturn per unit of downside risk | -6.73 | ||
| Omega ratioGain probability vs. loss probability | 0.63 | 1.48 | -0.85 |
| Calmar ratioReturn relative to maximum drawdown | -0.92 | 5.79 | -6.71 |
| Martin ratioReturn relative to average drawdown | -1.35 | 16.63 | -17.98 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GGLS | TECL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.91 | 4.35 | -6.26 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.59 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.76 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.95 | 0.76 | -1.72 |
Drawdowns
GGLS vs. TECL - Drawdown Comparison
The maximum GGLS drawdown since its inception was -81.24%, roughly equal to the maximum TECL drawdown of -77.96%. Use the drawdown chart below to compare losses from any high point for GGLS and TECL.
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Drawdown Indicators
| GGLS | TECL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.24% | -77.96% | -3.28% |
Max Drawdown (1Y)Largest decline over 1 year | -60.43% | -46.58% | -13.85% |
Max Drawdown (3Y)Largest decline over 3 years | -73.06% | -66.58% | -6.48% |
Max Drawdown (5Y)Largest decline over 5 years | — | -77.96% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -77.96% | — |
Current DrawdownCurrent decline from peak | -78.97% | -2.99% | -75.98% |
Average DrawdownAverage peak-to-trough decline | -46.86% | -18.38% | -28.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 41.18% | 16.19% | +24.99% |
Volatility
GGLS vs. TECL - Volatility Comparison
The current volatility for Direxion Daily GOOGL Bear 1X Shares (GGLS) is 8.19%, while Direxion Daily Technology Bull 3X Shares (TECL) has a volatility of 20.70%. This indicates that GGLS experiences smaller price fluctuations and is considered to be less risky than TECL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GGLS | TECL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.19% | 20.70% | -12.51% |
Volatility (6M)Calculated over the trailing 6-month period | 21.23% | 49.83% | -28.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.17% | 62.17% | -33.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.27% | 74.09% | -42.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.27% | 72.35% | -41.08% |
GGLS vs. TECL - Expense Ratio Comparison
GGLS has a 1.09% expense ratio, which is higher than TECL's 0.91% expense ratio.
Dividends
GGLS vs. TECL - Dividend Comparison
GGLS's dividend yield for the trailing twelve months is around 4.93%, more than TECL's 3.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
GGLS Direxion Daily GOOGL Bear 1X Shares | 4.93% | 4.87% | 4.31% | 5.80% | 0.20% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TECL Direxion Daily Technology Bull 3X Shares | 3.15% | 7.19% | 0.29% | 0.28% | 0.22% | 0.32% | 0.52% | 0.25% | 0.47% | 0.10% |
Frequently Asked Questions
GGLS and TECL 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.
TECL has higher volatility (20.70%) compared to GGLS (8.19%). In terms of maximum drawdown, GGLS dropped -81.24% vs TECL's -77.96%.
On 3-year performance, TECL leads with 80.64% vs -31.29% for GGLS. On fees, TECL is cheaper at 0.91% 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.
Over the 3-year period, TECL has performed better with a 80.64% return vs -31.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TECL is cheaper with a 0.91% expense ratio, compared with 1.09% for GGLS.
GGLS has the higher dividend yield at 4.93%, compared with 3.15% for TECL.
GGLS is categorized as Inverse Equities, while TECL is Leveraged Equities. GGLS tracks Alphabet Inc. Class A (--100%), while TECL tracks Technology Select Sector Index (300%). Their fees differ too: 1.09% for GGLS and 0.91% for TECL.
TECL currently has the higher Sharpe Ratio (4.35 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.
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