GGLS vs. TECL

Last updated Jul 15, 2026

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 -31.32%/yr vs 57.74%/yr for TECL. At a correlation of -0.58, they often move in opposite directions. GGLS charges 1.09%/yr vs 0.91%/yr for TECL.

Performance

GGLS vs. TECL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily GOOGL Bear 1X Shares (GGLS) and Direxion Daily Technology Bull 3X Shares (TECL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GGLS achieves a -14.98% return, which is significantly lower than TECL's 73.38% return.

GGLS

• 1D: -2.08%
• 1M: -0.32%
• 6M: -8.79%
• YTD: -14.98%
• 1Y: -51.51%
• 3Y*: -31.32%
• 5Y*: —
• 10Y*: —

TECL

• 1D: 3.47%
• 1M: -5.57%
• 6M: 65.34%
• YTD: 73.38%
• 1Y: 126.13%
• 3Y*: 57.74%
• 5Y*: 29.60%
• 10Y*: 49.31%

*Multi-year figures are annualized to reflect compound growth (CAGR)

GGLS vs. TECL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
GGLS Direxion Daily GOOGL Bear 1X Shares	-14.98%	-42.64%	-26.50%	-37.72%	19.63%
TECL Direxion Daily Technology Bull 3X Shares	73.38%	38.60%	36.15%	203.14%	-26.13%

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	-0.53
Correlation (All Time) Calculated using the full available price history since Sep 7, 2022	-0.58

The correlation between GGLS and TECL shifts across timeframes, from -0.58 (all time) to -0.44 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

GGLS vs. TECL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GGLS

GGLS Risk / Return Rank: 1
GGLS Sharpe Ratio Rank: 0
GGLS Sortino Ratio Rank: 0
GGLS Omega Ratio Rank: 0
GGLS Calmar Ratio Rank: 1
GGLS Martin Ratio Rank: 3

TECL

TECL Risk / Return Rank: 60
TECL Sharpe Ratio Rank: 67
TECL Sortino Ratio Rank: 55
TECL Omega Ratio Rank: 56
TECL Calmar Ratio Rank: 69
TECL Martin Ratio Rank: 52

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

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 ratio: Return per unit of total volatility	-1.72	1.74	-3.47
Sortino ratio: Return per unit of downside risk	-2.68	2.12	-4.80
Omega ratio: Gain probability vs. loss probability	0.67	1.28	-0.61
Calmar ratio: Return relative to maximum drawdown	-0.92	2.72	-3.64
Martin ratio: Return relative to average drawdown	-1.29	7.10	-8.39

GGLS vs. TECL - Sharpe Ratio Comparison

The current GGLS Sharpe Ratio is -1.72, which is lower than the TECL Sharpe Ratio of 1.74. The chart below compares the historical Sharpe Ratios of GGLS and TECL, 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. 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.

Drawdown Indicators

	GGLS	TECL	Difference
Max Drawdown Largest peak-to-trough decline	-81.24%	-77.96%	-3.28%
Max Drawdown (1Y) Largest decline over 1 year	-56.40%	-46.58%	-9.82%
Max Drawdown (3Y) Largest decline over 3 years	-72.36%	-66.58%	-5.78%
Max Drawdown (5Y) Largest decline over 5 years	—	-77.96%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-77.96%	—
Current Drawdown Current decline from peak	-79.11%	-25.54%	-53.57%
Average Drawdown Average peak-to-trough decline	-47.71%	-18.40%	-29.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	40.03%	17.84%	+22.19%

Volatility

GGLS vs. TECL - Volatility Comparison

The current volatility for Direxion Daily GOOGL Bear 1X Shares (GGLS) is 9.67%, while Direxion Daily Technology Bull 3X Shares (TECL) has a volatility of 31.14%. 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.

Volatility by Period

	GGLS	TECL	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.67%	31.14%	-21.47%
Volatility (6M) Calculated over the trailing 6-month period	22.75%	62.56%	-39.81%
Volatility (1Y) Calculated over the trailing 1-year period	29.95%	72.80%	-42.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.28%	76.06%	-44.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.28%	73.25%	-41.97%

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 3.00%, less than TECL's 4.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
GGLS Direxion Daily GOOGL Bear 1X Shares	3.00%	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	4.11%	7.19%	0.29%	0.28%	0.22%	0.32%	0.52%	0.25%	0.47%	0.10%

Frequently Asked Questions

Can I hold both GGLS and TECL in my portfolio?

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.

Which is riskier, GGLS or TECL?

TECL has higher volatility (31.14%) compared to GGLS (9.67%). In terms of maximum drawdown, GGLS dropped -81.24% vs TECL's -77.96%.

Which ETF is better, GGLS or TECL?

On 3-year performance, TECL leads with 57.74% vs -31.32% for GGLS. On fees, TECL is cheaper at 0.91% per year. On volatility, GGLS has been the lower-risk option at 9.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GGLS or TECL?

Over the 3-year period, TECL has performed better with a 57.74% return vs -31.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GGLS or TECL?

TECL is cheaper with a 0.91% expense ratio, compared with 1.09% for GGLS.

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

TECL has the higher dividend yield at 4.11%, compared with 3.00% for GGLS.

What is the main difference between GGLS and 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.

Which has better risk-adjusted returns?

TECL currently has the higher Sharpe Ratio (1.74 vs -1.72), 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.