TSMX vs. GGLL

Last updated Aug 3, 2026

TSMX (Direxion Daily TSM Bull 2X ETF) and GGLL (Direxion Daily GOOGL Bull 2X Shares) are both Leveraged Equities funds from Direxion. TSMX is actively managed, while GGLL is passively managed. Over the past year, TSMX returned 129.25% vs 193.37% for GGLL. Their 0.40 correlation means their historical movements had little consistent relationship. TSMX charges 0.99%/yr vs 0.96%/yr for GGLL.

Performance

TSMX vs. GGLL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily TSM Bull 2X ETF (TSMX) 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, TSMX achieves a 48.80% return, which is significantly higher than GGLL's 15.09% return.

TSMX

• 1D: 0.30%
• 1M: -15.56%
• 6M: 28.30%
• YTD: 48.80%
• 1Y: 129.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 87.80%

GGLL

• 1D: 13.48%
• 1M: -4.20%
• 6M: -0.63%
• YTD: 15.09%
• 1Y: 193.37%
• 3Y*: 59.15%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 49.76%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GGLL Direxion Daily GOOGL Bull 2X Shares	$205.93M	$163.03M	$182.59M
TSMX Direxion Daily TSM Bull 2X ETF	$51.36M	$73.43M	$83.39M

TSMX vs. GGLL - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TSMX Direxion Daily TSM Bull 2X ETF	48.80%	81.48%	16.84%
GGLL Direxion Daily GOOGL Bull 2X Shares	15.09%	123.07%	24.60%

Correlation

The correlation between TSMX and GGLL is 0.37, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.37
Correlation (All Time) Calculated using the full available price history since Oct 3, 2024	0.40

TSMX vs. GGLL - Sectors Allocation Comparison

Sectors	TSMX	GGLL
Technology	100.0%	-
Basic Materials	-	-
Communication Services	-	100.0%
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

TSMX vs. GGLL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TSMX

TSMX Risk / Return Rank: 67
TSMX Sharpe Ratio Rank: 62
TSMX Sortino Ratio Rank: 63
TSMX Omega Ratio Rank: 57
TSMX Calmar Ratio Rank: 81
TSMX Martin Ratio Rank: 73

GGLL

GGLL Risk / Return Rank: 91
GGLL Sharpe Ratio Rank: 96
GGLL Sortino Ratio Rank: 92
GGLL Omega Ratio Rank: 90
GGLL Calmar Ratio Rank: 94
GGLL Martin Ratio Rank: 86

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

TSMX vs. GGLL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily TSM Bull 2X ETF (TSMX) 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.

	TSMX	GGLL	Difference
Sharpe ratio: Return per unit of total volatility	1.43	2.89	-1.46
Sortino ratio: Return per unit of downside risk	2.10	3.38	-1.28
Omega ratio: Gain probability vs. loss probability	1.25	1.41	-0.16
Calmar ratio: Return relative to maximum drawdown	2.93	4.59	-1.67
Martin ratio: Return relative to average drawdown	8.89	12.34	-3.44

TSMX vs. GGLL - Sharpe Ratio Comparison

The current TSMX Sharpe Ratio is 1.43, which is lower than the GGLL Sharpe Ratio of 2.89. The chart below compares the historical Sharpe Ratios of TSMX 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.

Drawdowns

TSMX vs. GGLL - Drawdown Comparison

The maximum TSMX drawdown since its inception was -63.80%, which is greater than GGLL's maximum drawdown of -52.81%. Use the drawdown chart below to compare losses from any high point for TSMX and GGLL.

Drawdown Indicators

	TSMX	GGLL	Difference
Max Drawdown Largest peak-to-trough decline	-63.80%	-52.81%	-10.99%
Max Drawdown (1Y) Largest decline over 1 year	-39.94%	-40.32%	+0.38%
Max Drawdown (3Y) Largest decline over 3 years	—	-52.81%	—
Current Drawdown Current decline from peak	-30.40%	-25.64%	-4.76%
Average Drawdown Average peak-to-trough decline	-15.95%	-15.55%	-0.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.13%	14.99%	-1.86%

Volatility

TSMX vs. GGLL - Volatility Comparison

Direxion Daily TSM Bull 2X ETF (TSMX) and Direxion Daily GOOGL Bull 2X Shares (GGLL) have volatilities of 27.37% and 26.42%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSMX	GGLL	Difference
Volatility (1M) Calculated over the trailing 1-month period	27.37%	26.42%	+0.95%
Volatility (6M) Calculated over the trailing 6-month period	66.13%	49.50%	+16.63%
Volatility (1Y) Calculated over the trailing 1-year period	81.69%	64.39%	+17.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	84.12%	57.22%	+26.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	84.12%	57.22%	+26.90%

TSMX vs. GGLL - Expense Ratio Comparison

TSMX has a 0.99% expense ratio, which is higher than GGLL's 0.96% expense ratio.

Dividends

TSMX vs. GGLL - Dividend Comparison

TSMX's dividend yield for the trailing twelve months is around 5.70%, more than GGLL's 4.28% yield.

Position	TTM	2025	2024	2023	2022
GGLL Direxion Daily GOOGL Bull 2X Shares	4.28%	4.16%	3.29%	2.05%	0.59%
TSMX Direxion Daily TSM Bull 2X ETF	5.70%	8.01%	0.53%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TSMX and GGLL in my portfolio?

TSMX and GGLL have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TSMX or GGLL?

TSMX has higher volatility (27.37%) compared to GGLL (26.42%). In terms of maximum drawdown, TSMX dropped -63.80% vs GGLL's -52.81%.

Which ETF is better, TSMX or GGLL?

On 1-year performance, GGLL leads with 193.37% vs 129.25% for TSMX. On fees, GGLL is cheaper at 0.96% per year. On volatility, GGLL has been the lower-risk option at 26.42%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSMX or GGLL?

Over the 1-year period, GGLL has performed better with a 193.37% return vs 129.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSMX or GGLL?

GGLL is cheaper with a 0.96% expense ratio, compared with 0.99% for TSMX.

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

TSMX has the higher dividend yield at 5.70%, compared with 4.28% for GGLL.

What is the main difference between TSMX and GGLL?

Their fees differ too: 0.99% for TSMX and 0.96% for GGLL.

Which has better risk-adjusted returns?

GGLL currently has the higher Sharpe Ratio (2.89 vs 1.43), 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.