TECS vs. GGLL
TECS (Direxion Daily Technology Bear 3X Shares) and GGLL (Direxion Daily GOOGL Bull 2X Shares) are both Leveraged Equities funds from Direxion - TECS tracks the Technology Select Sector Index (-300%) while GGLL tracks the Alphabet Inc. Class A (200%). Both are passively managed. Over the past 3 years, TECS returned -62.98%/yr vs 62.75%/yr for GGLL. At a correlation of -0.58, they often move in opposite directions. TECS charges 1.08%/yr vs 0.96%/yr for GGLL.
Performance
TECS vs. GGLL - Performance Comparison
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Returns By Period
In the year-to-date period, TECS achieves a -60.06% return, which is significantly lower than GGLL's 11.40% return.
TECS
- 1D
- 11.54%
- 1M
- -13.82%
- YTD
- -60.06%
- 6M
- -58.34%
- 1Y
- -76.73%
- 3Y*
- -62.98%
- 5Y*
- -57.09%
- 10Y*
- -62.40%
GGLL
- 1D
- -2.70%
- 1M
- -20.13%
- YTD
- 11.40%
- 6M
- 10.14%
- 1Y
- 265.53%
- 3Y*
- 62.75%
- 5Y*
- —
- 10Y*
- —
TECS vs. GGLL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
TECS Direxion Daily Technology Bear 3X Shares | -60.06% | -62.44% | -49.76% | -74.45% | -3.57% |
GGLL Direxion Daily GOOGL Bull 2X Shares | 11.40% | 123.07% | 48.88% | 81.20% | -30.35% |
Correlation
The correlation between TECS and GGLL 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 | -0.52 |
Correlation (All Time) Calculated using the full available price history since Sep 7, 2022 | -0.58 |
The correlation between TECS and GGLL shifts across timeframes, from -0.58 (all time) to -0.44 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
TECS vs. GGLL — Risk / Return Rank
TECS
GGLL
TECS vs. GGLL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Technology Bear 3X Shares (TECS) 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.
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.
| TECS | GGLL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -5.61 | ||
| Sortino ratioReturn per unit of downside risk | -6.94 | ||
| Omega ratioGain probability vs. loss probability | 0.75 | 1.55 | -0.80 |
| Calmar ratioReturn relative to maximum drawdown | -0.98 | 6.97 | -7.94 |
| Martin ratioReturn relative to average drawdown | -1.86 | 22.42 | -24.28 |
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Drawdowns
TECS vs. GGLL - Drawdown Comparison
The maximum TECS drawdown since its inception was -100.00%, which is greater than GGLL's maximum drawdown of -52.81%. Use the drawdown chart below to compare losses from any high point for TECS and GGLL.
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Drawdown Indicators
| TECS | GGLL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -52.81% | -47.19% |
Max Drawdown (1Y)Largest decline over 1 year | -78.66% | -38.39% | -40.27% |
Max Drawdown (3Y)Largest decline over 3 years | -96.22% | -52.81% | -43.41% |
Max Drawdown (5Y)Largest decline over 5 years | -98.82% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -100.00% | — | — |
Current DrawdownCurrent decline from peak | -100.00% | -28.02% | -71.98% |
Average DrawdownAverage peak-to-trough decline | -96.76% | -15.22% | -81.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 43.87% | 11.91% | +31.96% |
Volatility
TECS vs. GGLL - Volatility Comparison
Direxion Daily Technology Bear 3X Shares (TECS) has a higher volatility of 36.37% compared to Direxion Daily GOOGL Bull 2X Shares (GGLL) at 19.04%. This indicates that TECS's price experiences larger fluctuations and is considered to be riskier than GGLL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TECS | GGLL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 36.37% | 19.04% | +17.33% |
Volatility (6M)Calculated over the trailing 6-month period | 58.81% | 42.25% | +16.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 70.17% | 59.29% | +10.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 75.65% | 56.23% | +19.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 72.84% | 56.23% | +16.61% |
TECS vs. GGLL - Expense Ratio Comparison
TECS has a 1.08% expense ratio, which is higher than GGLL's 0.96% expense ratio.
Dividends
TECS vs. GGLL - Dividend Comparison
TECS's dividend yield for the trailing twelve months is around 9.75%, more than GGLL's 4.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
GGLL Direxion Daily GOOGL Bull 2X Shares | 4.10% | 4.16% | 3.29% | 2.05% | 0.59% | 0.00% | 0.00% | 0.00% | 0.00% |
TECS Direxion Daily Technology Bear 3X Shares | 9.75% | 5.83% | 5.24% | 7.52% | 0.00% | 0.00% | 1.50% | 2.40% | 0.72% |
Frequently Asked Questions
TECS and GGLL 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.
TECS has higher volatility (36.37%) compared to GGLL (19.04%). In terms of maximum drawdown, TECS dropped -100.00% vs GGLL's -52.81%.
On 3-year performance, GGLL leads with 62.75% vs -62.98% for TECS. On fees, GGLL is cheaper at 0.96% per year. On volatility, GGLL has been the lower-risk option at 19.04%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, GGLL has performed better with a 62.75% return vs -62.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GGLL is cheaper with a 0.96% expense ratio, compared with 1.08% for TECS.
TECS has the higher dividend yield at 9.75%, compared with 4.10% for GGLL.
TECS tracks Technology Select Sector Index (-300%), while GGLL tracks Alphabet Inc. Class A (200%). Their fees differ too: 1.08% for TECS and 0.96% for GGLL.
GGLL currently has the higher Sharpe Ratio (4.51 vs -1.10), 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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