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 -31.99%/yr vs 56.77%/yr for TECL. Their -0.56 correlation means they have often moved in opposite directions in the past. 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 -19.25% return, which is significantly lower than TECL's 54.56% 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%
TECL
- 1D
- 4.43%
- 1M
- -7.18%
- 6M
- 53.20%
- YTD
- 54.56%
- 1Y
- 99.73%
- 3Y*
- 56.77%
- 5Y*
- 25.61%
- 10Y*
- 45.72%
- ALL TIME*
- 46.97%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $9.37M | $27.43M | $62.55M | |
| $142.34M | $148.61M | $225.94M |
GGLS vs. TECL - 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% |
TECL Direxion Daily Technology Bull 3X Shares | 54.56% | 38.60% | 36.15% | 203.14% | -26.13% |
Correlation
The correlation between GGLS and TECL is -0.40, 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. | -0.40 |
Correlation (3Y) Balances recent behavior with more history. | -0.51 |
Correlation (All Time) Calculated using the full available price history since Sep 7, 2022 | -0.56 |
The correlation between GGLS and TECL shifts across timeframes, from -0.56 (all time) to -0.40 (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.
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 | TECL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.93 | ||
| Sortino ratioReturn per unit of downside risk | -4.42 | ||
| Omega ratioGain probability vs. loss probability | 0.68 | 1.24 | -0.55 |
| Calmar ratioReturn relative to maximum drawdown | -0.98 | 2.15 | -3.13 |
| Martin ratioReturn relative to average drawdown | -1.38 | 5.10 | -6.47 |
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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 | -53.32% | -46.58% | -6.74% |
Max Drawdown (3Y)Largest decline over 3 years | -71.64% | -66.58% | -5.06% |
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 | -80.16% | -33.62% | -46.54% |
Average DrawdownAverage peak-to-trough decline | -48.15% | -18.45% | -29.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 39.54% | 19.63% | +19.91% |
Volatility
GGLS vs. TECL - Volatility Comparison
The current volatility for Direxion Daily GOOGL Bear 1X Shares (GGLS) is 13.90%, while Direxion Daily Technology Bull 3X Shares (TECL) has a volatility of 27.41%. 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 | 13.90% | 27.41% | -13.51% |
Volatility (6M)Calculated over the trailing 6-month period | 25.93% | 65.16% | -39.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.43% | 76.18% | -43.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.76% | 76.67% | -44.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.76% | 73.61% | -41.85% |
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 3.16%, less than TECL's 4.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
TECL Direxion Daily Technology Bull 3X Shares | 4.61% | 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 -0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TECL has higher volatility (27.41%) compared to GGLS (13.90%). In terms of maximum drawdown, GGLS dropped -81.24% vs TECL's -77.96%.
On 3-year performance, TECL leads with 56.77% vs -31.99% for GGLS. On fees, TECL is cheaper at 0.91% 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, TECL has performed better with a 56.77% return vs -31.99%. 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.
TECL has the higher dividend yield at 4.61%, compared with 3.16% for GGLS.
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 (1.32 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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