GGLS vs. XLSR
GGLS (Direxion Daily GOOGL Bear 1X Shares) and XLSR (SPDR SSGA US Sector Rotation ETF) are both exchange-traded funds - GGLS is a Inverse Equities fund tracking the Alphabet Inc. Class A (--100%), while XLSR is a Large Cap Growth Equities fund actively managed by State Street. GGLS is passively managed, while XLSR is actively managed. Over the past 3 years, GGLS returned -31.29%/yr vs 17.65%/yr for XLSR. At a correlation of -0.60, they often move in opposite directions. GGLS charges 1.09%/yr vs 0.70%/yr for XLSR.
Performance
GGLS vs. XLSR - 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 XLSR's 6.52% return.
GGLS
- 1D
- 0.70%
- 1M
- 6.67%
- YTD
- -14.40%
- 6M
- -12.57%
- 1Y
- -55.43%
- 3Y*
- -31.29%
- 5Y*
- —
- 10Y*
- —
XLSR
- 1D
- -0.45%
- 1M
- 5.12%
- YTD
- 6.52%
- 6M
- 6.27%
- 1Y
- 25.83%
- 3Y*
- 17.65%
- 5Y*
- 10.06%
- 10Y*
- —
GGLS vs. XLSR - 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% |
XLSR SPDR SSGA US Sector Rotation ETF | 6.52% | 17.34% | 17.60% | 18.95% | -1.83% |
Correlation
The correlation between GGLS and XLSR is -0.63, 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 | -0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.59 |
Correlation (All Time) Calculated using the full available price history since Sep 8, 2022 | -0.60 |
The correlation between GGLS and XLSR has been stable across timeframes, ranging from -0.63 to -0.59 - a consistent structural relationship.
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Return for Risk
GGLS vs. XLSR — Risk / Return Rank
GGLS
XLSR
GGLS vs. XLSR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily GOOGL Bear 1X Shares (GGLS) and SPDR SSGA US Sector Rotation ETF (XLSR). 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 | XLSR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.03 | ||
| Sortino ratioReturn per unit of downside risk | -6.05 | ||
| Omega ratioGain probability vs. loss probability | 0.63 | 1.39 | -0.76 |
| Calmar ratioReturn relative to maximum drawdown | -0.92 | 2.35 | -3.26 |
| Martin ratioReturn relative to average drawdown | -1.35 | 10.44 | -11.79 |
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 | XLSR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.91 | 2.12 | -4.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.59 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.95 | 0.66 | -1.61 |
Drawdowns
GGLS vs. XLSR - Drawdown Comparison
The maximum GGLS drawdown since its inception was -81.24%, which is greater than XLSR's maximum drawdown of -32.94%. Use the drawdown chart below to compare losses from any high point for GGLS and XLSR.
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Drawdown Indicators
| GGLS | XLSR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.24% | -32.94% | -48.30% |
Max Drawdown (1Y)Largest decline over 1 year | -60.43% | -11.06% | -49.37% |
Max Drawdown (3Y)Largest decline over 3 years | -73.06% | -20.57% | -52.49% |
Max Drawdown (5Y)Largest decline over 5 years | — | -23.32% | — |
Current DrawdownCurrent decline from peak | -78.97% | -0.45% | -78.52% |
Average DrawdownAverage peak-to-trough decline | -46.86% | -5.33% | -41.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 41.18% | 2.48% | +38.70% |
Volatility
GGLS vs. XLSR - Volatility Comparison
Direxion Daily GOOGL Bear 1X Shares (GGLS) has a higher volatility of 8.19% compared to SPDR SSGA US Sector Rotation ETF (XLSR) at 2.97%. This indicates that GGLS's price experiences larger fluctuations and is considered to be riskier than XLSR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GGLS | XLSR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.19% | 2.97% | +5.22% |
Volatility (6M)Calculated over the trailing 6-month period | 21.23% | 9.23% | +12.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.17% | 12.26% | +16.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.27% | 17.08% | +14.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.27% | 20.04% | +11.23% |
GGLS vs. XLSR - Expense Ratio Comparison
GGLS has a 1.09% expense ratio, which is higher than XLSR's 0.70% expense ratio.
Dividends
GGLS vs. XLSR - Dividend Comparison
GGLS's dividend yield for the trailing twelve months is around 4.93%, more than XLSR's 0.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
GGLS Direxion Daily GOOGL Bear 1X Shares | 4.93% | 4.87% | 4.31% | 5.80% | 0.20% | 0.00% | 0.00% | 0.00% |
XLSR SPDR SSGA US Sector Rotation ETF | 0.52% | 0.58% | 0.66% | 1.04% | 1.80% | 3.44% | 1.25% | 0.94% |
Frequently Asked Questions
GGLS and XLSR have a correlation of -0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GGLS has higher volatility (8.19%) compared to XLSR (2.97%). In terms of maximum drawdown, GGLS dropped -81.24% vs XLSR's -32.94%.
On 3-year performance, XLSR leads with 17.65% vs -31.29% for GGLS. On fees, XLSR is cheaper at 0.70% per year. On volatility, XLSR has been the lower-risk option at 2.97%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, XLSR has performed better with a 17.65% return vs -31.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XLSR is cheaper with a 0.70% expense ratio, compared with 1.09% for GGLS.
GGLS has the higher dividend yield at 4.93%, compared with 0.52% for XLSR.
GGLS is categorized as Inverse Equities, while XLSR is Large Cap Growth Equities. They also come from different issuers: Direxion and State Street. Their fees differ too: 1.09% for GGLS and 0.70% for XLSR.
XLSR currently has the higher Sharpe Ratio (2.12 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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