TECS vs. GGLL

Last updated Jun 4, 2026

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 -64.76%/yr vs 65.97%/yr for GGLL. At a correlation of -0.58, they often move in opposite directions. TECS charges 1.08%/yr vs 1.05%/yr for GGLL.

Performance

TECS vs. GGLL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Technology Bear 3X Shares (TECS) 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, TECS achieves a -64.31% return, which is significantly lower than GGLL's 22.24% return.

TECS

• 1D: 2.85%
• 1M: -45.32%
• YTD: -64.31%
• 6M: -63.84%
• 1Y: -80.92%
• 3Y*: -64.76%
• 5Y*: -59.06%
• 10Y*: -62.51%

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)

TECS vs. GGLL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
TECS Direxion Daily Technology Bear 3X Shares	-64.31%	-62.44%	-49.76%	-74.45%	1.25%
GGLL Direxion Daily GOOGL Bull 2X Shares	22.24%	123.07%	48.88%	81.20%	-30.35%

Correlation

The correlation between TECS and GGLL is -0.45, 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	-0.45
Correlation (3Y) Calculated over the trailing 3-year period	-0.53
Correlation (All Time) Calculated using the full available price history since Sep 8, 2022	-0.58

The correlation between TECS and GGLL shifts across timeframes, from -0.58 (all time) to -0.45 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

TECS vs. GGLL — Risk / Return Rank

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

TECS

TECS Risk / Return Rank: 0
TECS Sharpe Ratio Rank: 0
TECS Sortino Ratio Rank: 0
TECS Omega Ratio Rank: 0
TECS Calmar Ratio Rank: 0
TECS Martin Ratio Rank: 0

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.

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.

	TECS	GGLL	Difference
Sharpe ratio Return per unit of total volatility	-1.30	5.07	-6.37
Sortino ratio Return per unit of downside risk	-3.09	4.96	-8.05
Omega ratio Gain probability vs. loss probability	0.68	1.60	-0.91
Calmar ratio Return relative to maximum drawdown	-0.99	7.69	-8.69
Martin ratio Return relative to average drawdown	-1.81	26.53	-28.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TECS vs. GGLL - Sharpe Ratio Comparison

The current TECS Sharpe Ratio is -1.30, which is lower than the GGLL Sharpe Ratio of 5.07. The chart below compares the historical Sharpe Ratios of TECS 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

	TECS	GGLL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.30	5.07	-6.37
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.80	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.87	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.89	0.99	-1.87

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.

Drawdown Indicators

	TECS	GGLL	Difference
Max Drawdown Largest peak-to-trough decline	-100.00%	-52.81%	-47.19%
Max Drawdown (1Y) Largest decline over 1 year	-81.50%	-38.39%	-43.11%
Max Drawdown (3Y) Largest decline over 3 years	-96.22%	-52.81%	-43.41%
Max Drawdown (5Y) Largest decline over 5 years	-98.88%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-100.00%	—	—
Current Drawdown Current decline from peak	-100.00%	-21.02%	-78.98%
Average Drawdown Average peak-to-trough decline	-96.76%	-15.17%	-81.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	44.66%	11.11%	+33.55%

Volatility

TECS vs. GGLL - Volatility Comparison

Direxion Daily Technology Bear 3X Shares (TECS) has a higher volatility of 21.44% compared to Direxion Daily GOOGL Bull 2X Shares (GGLL) at 16.60%. 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.

Volatility by Period

	TECS	GGLL	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.44%	16.60%	+4.84%
Volatility (6M) Calculated over the trailing 6-month period	50.52%	40.70%	+9.82%
Volatility (1Y) Calculated over the trailing 1-year period	62.27%	58.40%	+3.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	74.25%	56.03%	+18.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	72.17%	56.03%	+16.14%

TECS vs. GGLL - Expense Ratio Comparison

TECS has a 1.08% expense ratio, which is higher than GGLL's 1.05% expense ratio.

Dividends

TECS vs. GGLL - Dividend Comparison

TECS's dividend yield for the trailing twelve months is around 10.91%, more than GGLL's 3.73% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
GGLL Direxion Daily GOOGL Bull 2X Shares	3.73%	4.16%	3.29%	2.05%	0.59%	0.00%	0.00%	0.00%	0.00%
TECS Direxion Daily Technology Bear 3X Shares	10.91%	5.83%	5.24%	7.52%	0.00%	0.00%	1.50%	2.40%	0.72%

Frequently Asked Questions

Can I hold both TECS and GGLL in my portfolio?

TECS and GGLL have a correlation of -0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TECS or GGLL?

TECS has higher volatility (21.44%) compared to GGLL (16.60%). In terms of maximum drawdown, TECS dropped -100.00% vs GGLL's -52.81%.

Which ETF is better, TECS or GGLL?

On 3-year performance, GGLL leads with 65.97% vs -64.76% for TECS. On fees, GGLL is cheaper at 1.05% per year. On volatility, GGLL has been the lower-risk option at 16.60%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TECS or GGLL?

Over the 3-year period, GGLL has performed better with a 65.97% return vs -64.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TECS or GGLL?

GGLL is cheaper with a 1.05% expense ratio, compared with 1.08% for TECS.

Which ETF pays a higher dividend yield, TECS or GGLL?

TECS has the higher dividend yield at 10.91%, compared with 3.73% for GGLL.

What is the main difference between TECS and 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 1.05% for GGLL.

Which has better risk-adjusted returns?

GGLL currently has the higher Sharpe Ratio (5.07 vs -1.30), 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.