MSGS vs. GGLL

Last updated Jun 4, 2026

MSGS (Madison Square Garden Sports Corp.) is a stock, while GGLL (Direxion Daily GOOGL Bull 2X Shares) is Leveraged Equities fund tracking the Alphabet Inc. Class A (200%). Over the past 3 years, MSGS returned 28.76%/yr vs 65.97%/yr for GGLL. At a 0.22 correlation, their price movements are largely independent.

Performance

MSGS vs. GGLL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Madison Square Garden Sports Corp. (MSGS) and Direxion Daily GOOGL Bull 2X Shares (GGLL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MSGS achieves a 47.23% return, which is significantly higher than GGLL's 22.24% return.

MSGS

• 1D: -0.50%
• 1M: 11.95%
• YTD: 47.23%
• 6M: 70.36%
• 1Y: 101.13%
• 3Y*: 28.76%
• 5Y*: 17.73%
• 10Y*: 16.70%

GGLL

• 1D: -1.40%
• 1M: -13.22%
• YTD: 22.24%
• 6M: 15.91%
• 1Y: 293.20%
• 3Y*: 65.97%
• 5Y*: —
• 10Y*: —

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

MSGS vs. GGLL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
MSGS Madison Square Garden Sports Corp.	47.23%	14.61%	24.12%	-0.82%	20.56%
GGLL Direxion Daily GOOGL Bull 2X Shares	22.24%	123.07%	48.88%	81.20%	-30.35%

Correlation

The correlation between MSGS and GGLL is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.12
Correlation (3Y) Calculated over the trailing 3-year period	0.21
Correlation (All Time) Calculated using the full available price history since Sep 8, 2022	0.22

The correlation between MSGS and GGLL shifts across timeframes, from 0.12 (1 year) to 0.22 (all time), reflecting how their relationship changes across market environments.

Return for Risk

MSGS vs. GGLL — Risk / Return Rank

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

MSGS

MSGS Risk / Return Rank: 97
MSGS Sharpe Ratio Rank: 96
MSGS Sortino Ratio Rank: 97
MSGS Omega Ratio Rank: 96
MSGS Calmar Ratio Rank: 97
MSGS Martin Ratio Rank: 96

GGLL

GGLL Risk / Return Rank: 94
GGLL Sharpe Ratio Rank: 97
GGLL Sortino Ratio Rank: 94
GGLL Omega Ratio Rank: 90
GGLL Calmar Ratio Rank: 94
GGLL Martin Ratio Rank: 94

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.

MSGS vs. GGLL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Madison Square Garden Sports Corp. (MSGS) and Direxion Daily GOOGL Bull 2X Shares (GGLL). 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.

	MSGS	GGLL	Difference
Sharpe ratio: Return per unit of total volatility	3.45	5.07	-1.62
Sortino ratio: Return per unit of downside risk	4.98	4.96	+0.02
Omega ratio: Gain probability vs. loss probability	1.64	1.60	+0.04
Calmar ratio: Return relative to maximum drawdown	10.09	7.69	+2.39
Martin ratio: Return relative to average drawdown	24.05	26.53	-2.48
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MSGS vs. GGLL - Sharpe Ratio Comparison

The current MSGS Sharpe Ratio is 3.45, which is lower than the GGLL Sharpe Ratio of 5.07. The chart below compares the historical Sharpe Ratios of MSGS and GGLL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MSGS	GGLL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.45	5.07	-1.62
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.70	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.53	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.99	-0.47

Drawdowns

MSGS vs. GGLL - Drawdown Comparison

The maximum MSGS drawdown since its inception was -41.57%, smaller than the maximum GGLL drawdown of -52.81%. Use the drawdown chart below to compare losses from any high point for MSGS and GGLL.

Drawdown Indicators

	MSGS	GGLL	Difference
Max Drawdown Largest peak-to-trough decline	-41.57%	-52.81%	+11.24%
Max Drawdown (1Y) Largest decline over 1 year	-10.08%	-38.39%	+28.31%
Max Drawdown (3Y) Largest decline over 3 years	-25.54%	-52.81%	+27.27%
Max Drawdown (5Y) Largest decline over 5 years	-31.96%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-41.57%	—	—
Current Drawdown Current decline from peak	-0.50%	-21.02%	+20.52%
Average Drawdown Average peak-to-trough decline	-10.58%	-15.17%	+4.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.22%	11.11%	-6.89%

Volatility

MSGS vs. GGLL - Volatility Comparison

The current volatility for Madison Square Garden Sports Corp. (MSGS) is 7.21%, while Direxion Daily GOOGL Bull 2X Shares (GGLL) has a volatility of 16.60%. This indicates that MSGS experiences smaller price fluctuations and is considered to be less risky than GGLL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSGS	GGLL	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.21%	16.60%	-9.39%
Volatility (6M) Calculated over the trailing 6-month period	23.35%	40.70%	-17.35%
Volatility (1Y) Calculated over the trailing 1-year period	29.52%	58.40%	-28.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.35%	56.03%	-30.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.44%	56.03%	-24.59%

Dividends

MSGS vs. GGLL - Dividend Comparison

MSGS has not paid dividends to shareholders, while GGLL's dividend yield for the trailing twelve months is around 3.73%.

Position	TTM	2025	2024	2023	2022	2021	2020
GGLL Direxion Daily GOOGL Bull 2X Shares	3.73%	4.16%	3.29%	2.05%	0.59%	0.00%	0.00%
MSGS Madison Square Garden Sports Corp.	0.00%	0.00%	0.00%	0.00%	3.82%	0.00%	36.97%

Frequently Asked Questions

Can I hold both MSGS and GGLL in my portfolio?

MSGS and GGLL have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MSGS or GGLL?

GGLL has higher volatility (16.60%) compared to MSGS (7.21%). In terms of maximum drawdown, MSGS dropped -41.57% vs GGLL's -52.81%.

Which has better risk-adjusted returns?

GGLL currently has the higher Sharpe Ratio (5.07 vs 3.45), 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.