GGLS vs. TSLZ

Last updated Jul 15, 2026

GGLS (Direxion Daily GOOGL Bear 1X Shares) and TSLZ (T-Rex 2X Inverse Tesla Daily Target ETF) are both Inverse Equities funds. GGLS is passively managed, while TSLZ is actively managed. Over the past year, GGLS returned -51.51% vs -63.93% for TSLZ. At a 0.39 correlation, their price movements are largely independent. GGLS charges 1.09%/yr vs 1.05%/yr for TSLZ.

Performance

GGLS vs. TSLZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily GOOGL Bear 1X Shares (GGLS) and T-Rex 2X Inverse Tesla Daily Target ETF (TSLZ). 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 TSLZ's -3.50% return.

GGLS

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

TSLZ

• 1D: -0.69%
• 1M: -2.72%
• 6M: -3.54%
• YTD: -3.50%
• 1Y: -63.93%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GGLS vs. TSLZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
GGLS Direxion Daily GOOGL Bear 1X Shares	-14.98%	-42.64%	-26.50%	-1.30%
TSLZ T-Rex 2X Inverse Tesla Daily Target ETF	-3.50%	-75.98%	-88.79%	-24.75%

Correlation

The correlation between GGLS and TSLZ is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (All Time) Calculated using the full available price history since Oct 19, 2023	0.39

Return for Risk

GGLS vs. TSLZ — 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

TSLZ

TSLZ Risk / Return Rank: 3
TSLZ Sharpe Ratio Rank: 3
TSLZ Sortino Ratio Rank: 4
TSLZ Omega Ratio Rank: 4
TSLZ Calmar Ratio Rank: 1
TSLZ Martin Ratio Rank: 4

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. TSLZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily GOOGL Bear 1X Shares (GGLS) and T-Rex 2X Inverse Tesla Daily Target ETF (TSLZ). 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	TSLZ	Difference
Sharpe ratio: Return per unit of total volatility	-1.72	-0.73	-1.00
Sortino ratio: Return per unit of downside risk	-2.68	-0.97	-1.71
Omega ratio: Gain probability vs. loss probability	0.67	0.89	-0.23
Calmar ratio: Return relative to maximum drawdown	-0.92	-0.92	0.00
Martin ratio: Return relative to average drawdown	-1.29	-1.16	-0.13

GGLS vs. TSLZ - Sharpe Ratio Comparison

The current GGLS Sharpe Ratio is -1.72, which is lower than the TSLZ Sharpe Ratio of -0.73. The chart below compares the historical Sharpe Ratios of GGLS and TSLZ, 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. TSLZ - Drawdown Comparison

The maximum GGLS drawdown since its inception was -81.24%, smaller than the maximum TSLZ drawdown of -99.11%. Use the drawdown chart below to compare losses from any high point for GGLS and TSLZ.

Drawdown Indicators

	GGLS	TSLZ	Difference
Max Drawdown Largest peak-to-trough decline	-81.24%	-99.11%	+17.87%
Max Drawdown (1Y) Largest decline over 1 year	-56.40%	-69.73%	+13.33%
Max Drawdown (3Y) Largest decline over 3 years	-72.36%	—	—
Current Drawdown Current decline from peak	-79.11%	-98.99%	+19.88%
Average Drawdown Average peak-to-trough decline	-47.71%	-76.18%	+28.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	40.03%	55.26%	-15.23%

Volatility

GGLS vs. TSLZ - Volatility Comparison

The current volatility for Direxion Daily GOOGL Bear 1X Shares (GGLS) is 9.67%, while T-Rex 2X Inverse Tesla Daily Target ETF (TSLZ) has a volatility of 34.11%. This indicates that GGLS experiences smaller price fluctuations and is considered to be less risky than TSLZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GGLS	TSLZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.67%	34.11%	-24.44%
Volatility (6M) Calculated over the trailing 6-month period	22.75%	62.74%	-39.99%
Volatility (1Y) Calculated over the trailing 1-year period	29.95%	88.22%	-58.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.28%	117.07%	-85.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.28%	117.07%	-85.79%

GGLS vs. TSLZ - Expense Ratio Comparison

GGLS has a 1.09% expense ratio, which is higher than TSLZ's 1.05% expense ratio.

Dividends

GGLS vs. TSLZ - Dividend Comparison

GGLS's dividend yield for the trailing twelve months is around 3.00%, more than TSLZ's 0.71% yield.

Position	TTM	2025	2024	2023	2022
GGLS Direxion Daily GOOGL Bear 1X Shares	3.00%	4.87%	4.31%	5.80%	0.20%
TSLZ T-Rex 2X Inverse Tesla Daily Target ETF	0.71%	0.69%	2.08%	12.15%	0.00%

Frequently Asked Questions

Can I hold both GGLS and TSLZ in my portfolio?

GGLS and TSLZ 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.

Which is riskier, GGLS or TSLZ?

TSLZ has higher volatility (34.11%) compared to GGLS (9.67%). In terms of maximum drawdown, GGLS dropped -81.24% vs TSLZ's -99.11%.

Which ETF is better, GGLS or TSLZ?

On 1-year performance, GGLS leads with -51.51% vs -63.93% for TSLZ. On fees, TSLZ is cheaper at 1.05% 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 TSLZ?

Over the 1-year period, GGLS has performed better with a -51.51% return vs -63.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GGLS or TSLZ?

TSLZ is cheaper with a 1.05% expense ratio, compared with 1.09% for GGLS.

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

GGLS has the higher dividend yield at 3.00%, compared with 0.71% for TSLZ.

What is the main difference between GGLS and TSLZ?

They also come from different issuers: Direxion and T-Rex. Their fees differ too: 1.09% for GGLS and 1.05% for TSLZ.

Which has better risk-adjusted returns?

TSLZ currently has the higher Sharpe Ratio (-0.73 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.