GGLS vs. YXI

Last updated Jul 17, 2026

GGLS (Direxion Daily GOOGL Bear 1X Shares) and YXI (ProShares Short FTSE China 50) are both exchange-traded funds - GGLS is a Inverse Equities fund tracking the Alphabet Inc. Class A (--100%), while YXI is a China Equities fund tracking the FTSE China 50 Net Tax USD (TR) (-100%). Both are passively managed. Over the past 3 years, GGLS returned -31.19%/yr vs -9.98%/yr for YXI. At a 0.28 correlation, their price movements are largely independent. GGLS charges 1.09%/yr vs 0.95%/yr for YXI.

Performance

GGLS vs. YXI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily GOOGL Bear 1X Shares (GGLS) and ProShares Short FTSE China 50 (YXI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GGLS achieves a -13.92% return, which is significantly lower than YXI's 10.86% return.

GGLS

• 1D: 4.46%
• 1M: 4.74%
• 6M: -8.53%
• YTD: -13.92%
• 1Y: -50.56%
• 3Y*: -31.19%
• 5Y*: —
• 10Y*: —

YXI

• 1D: -1.28%
• 1M: 0.04%
• 6M: 15.92%
• YTD: 10.86%
• 1Y: 8.52%
• 3Y*: -9.98%
• 5Y*: -2.98%
• 10Y*: -7.35%

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

GGLS vs. YXI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
GGLS Direxion Daily GOOGL Bear 1X Shares	-13.92%	-42.64%	-26.50%	-37.72%	19.63%
YXI ProShares Short FTSE China 50	10.86%	-22.87%	-25.36%	12.40%	-5.27%

Correlation

The correlation between GGLS and YXI is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (3Y) Calculated over the trailing 3-year period	0.27
Correlation (All Time) Calculated using the full available price history since Sep 7, 2022	0.28

Return for Risk

GGLS vs. YXI — 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

YXI

YXI Risk / Return Rank: 18
YXI Sharpe Ratio Rank: 17
YXI Sortino Ratio Rank: 17
YXI Omega Ratio Rank: 16
YXI Calmar Ratio Rank: 21
YXI Martin Ratio Rank: 18

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. YXI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily GOOGL Bear 1X Shares (GGLS) and ProShares Short FTSE China 50 (YXI). 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	YXI	Difference
Sharpe ratio: Return per unit of total volatility	-1.67	0.42	-2.08
Sortino ratio: Return per unit of downside risk	-2.58	0.72	-3.30
Omega ratio: Gain probability vs. loss probability	0.68	1.09	-0.41
Calmar ratio: Return relative to maximum drawdown	-0.91	0.75	-1.66
Martin ratio: Return relative to average drawdown	-1.27	1.50	-2.78

GGLS vs. YXI - Sharpe Ratio Comparison

The current GGLS Sharpe Ratio is -1.67, which is lower than the YXI Sharpe Ratio of 0.42. The chart below compares the historical Sharpe Ratios of GGLS and YXI, 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. YXI - Drawdown Comparison

The maximum GGLS drawdown since its inception was -81.24%, roughly equal to the maximum YXI drawdown of -81.15%. Use the drawdown chart below to compare losses from any high point for GGLS and YXI.

Drawdown Indicators

	GGLS	YXI	Difference
Max Drawdown Largest peak-to-trough decline	-81.24%	-81.15%	-0.09%
Max Drawdown (1Y) Largest decline over 1 year	-56.00%	-11.39%	-44.61%
Max Drawdown (3Y) Largest decline over 3 years	-72.36%	-53.12%	-19.24%
Max Drawdown (5Y) Largest decline over 5 years	—	-57.65%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-61.79%	—
Current Drawdown Current decline from peak	-78.85%	-77.36%	-1.49%
Average Drawdown Average peak-to-trough decline	-47.78%	-54.45%	+6.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	39.92%	5.69%	+34.23%

Volatility

GGLS vs. YXI - Volatility Comparison

Direxion Daily GOOGL Bear 1X Shares (GGLS) has a higher volatility of 10.75% compared to ProShares Short FTSE China 50 (YXI) at 7.55%. This indicates that GGLS's price experiences larger fluctuations and is considered to be riskier than YXI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GGLS	YXI	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.75%	7.55%	+3.20%
Volatility (6M) Calculated over the trailing 6-month period	23.33%	15.50%	+7.83%
Volatility (1Y) Calculated over the trailing 1-year period	30.45%	20.63%	+9.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.37%	31.48%	-0.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.37%	27.43%	+3.94%

GGLS vs. YXI - Expense Ratio Comparison

GGLS has a 1.09% expense ratio, which is higher than YXI's 0.95% expense ratio.

Dividends

GGLS vs. YXI - Dividend Comparison

GGLS's dividend yield for the trailing twelve months is around 2.97%, more than YXI's 2.57% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
GGLS Direxion Daily GOOGL Bear 1X Shares	2.97%	4.87%	4.31%	5.80%	0.20%	0.00%	0.00%	0.00%	0.00%
YXI ProShares Short FTSE China 50	2.57%	3.60%	4.35%	2.66%	0.27%	0.00%	0.08%	1.01%	0.25%

Frequently Asked Questions

Can I hold both GGLS and YXI in my portfolio?

GGLS and YXI have a correlation of 0.34, 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 YXI?

GGLS has higher volatility (10.75%) compared to YXI (7.55%). In terms of maximum drawdown, GGLS dropped -81.24% vs YXI's -81.15%.

Which ETF is better, GGLS or YXI?

On 3-year performance, YXI leads with -9.98% vs -31.19% for GGLS. On fees, YXI is cheaper at 0.95% per year. On volatility, YXI has been the lower-risk option at 7.55%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GGLS or YXI?

Over the 3-year period, YXI has performed better with a -9.98% return vs -31.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GGLS or YXI?

YXI is cheaper with a 0.95% expense ratio, compared with 1.09% for GGLS.

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

GGLS has the higher dividend yield at 2.97%, compared with 2.57% for YXI.

What is the main difference between GGLS and YXI?

GGLS is categorized as Inverse Equities, while YXI is China Equities. GGLS tracks Alphabet Inc. Class A (--100%), while YXI tracks FTSE China 50 Net Tax USD (TR) (-100%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.09% for GGLS and 0.95% for YXI.

Which has better risk-adjusted returns?

YXI currently has the higher Sharpe Ratio (0.41 vs -1.67), 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.