Which came closer to its stated multiple, GGLL or GGLS?

Over the window to Sep 30, 2026, GGLL finished 4.6 points from what its multiple implies and GGLS finished 1.5 points from its own, so GGLS came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.

Are GGLL and GGLS levered on the same thing?

Yes. Both are levered on Alphabet, GGLL at +2 times and GGLS at -1 times the daily move.

Which one decays faster, GGLL or GGLS?

Decay follows how much the underlying moves about. Over this window GGLL’s moved at 34% annualized and GGLS’s at 34%, so GGLL has the rougher ride and, at the same multiple, loses more to compounding.

Can I hold GGLL or GGLS for a year?

Both reset every day, so the multiple in the name applies to a single day and the daily results compound. Over a year the total is not the multiple times the year’s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way.

Which is cheaper, GGLL or GGLS?

GGLL charges 0.96% a year and GGLS charges 1.02%, so GGLL is cheaper. Fees come from each fund's prospectus.

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GGLL vs GGLS: which held to its multiple?

Over three months against its own daily promise, GGLL finished 2.3 points short and GGLS 1.2 points over. Direxion Daily GOOGL Bull 2X ETF and Direxion Daily GOOGL Bear 1X ETF.

−14.0%

GGLL returned, 3 months

+3.2%

GGLS returned, 3 months

−4.6 pts

GGLL from its stated multiple

−1.5 pts

GGLS from its stated multiple

GGLL · 3 months to Sep 30, 20264.6 pts short of its stated multiple

GGLL returned −14.0% while 2 times GOOGL's move would have been −9.4%

GGLS · 3 months to Sep 30, 20261.5 pts short of its stated multiple

GGLS returned +3.2% while −1 times GOOGL's move would have been +4.7%

ETFIQ Decay Resistance Score · GGLL scores higherDid it keep up with its own daily multiple, compounded day by day?

GGLL among the 470 leveraged ETFs, long, over three months

GGLL 61.4

0.1, the lowest in this set99.9, the highest

GGLS among the 125 inverse ETFs over three months

GGLS 33.6

0.4, the lowest in this set99.6, the highest

A percentile among the 470 leveraged ETFs, long, over three months. GGLS is a percentile among the 125 inverse ETFs over three months, a different set, so the two marks are not on one scale. It is a position in a set, not a rating, and neither end of it is a recommendation. All leveraged ETFs ranked by it → How it is computed →

Performance, window by window

	Total return		Multiple would give		Difference
Window	GGLL	GGLS	GGLL	GGLS	GGLL	GGLS
1 month	+1.4%	−1.6%	+2.9%	−1.5%	−1.5 pts	−0.1 pts
3 months	−14.0%	+3.2%	−9.4%	+4.7%	−4.6 pts	−1.5 pts
6 months	+20.5%	−16.5%	+31.7%	−15.8%	−11.2 pts	−0.6 pts
1 year	+65.4%	−32.9%	+83.8%	−41.9%	−18.4 pts	+9.0 pts
3 years	+274.5%	−65.5%	not meaningful	not meaningful	not meaningful	not meaningful
Since launch GGLL Sep 2022 · GGLS Sep 2022	+337.4%	−72.5%	not meaningful	not meaningful	not meaningful	not meaningful

GGLL and GGLS over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

GGLL

Direxion Daily GOOGL Bull 2X ETF · Aims to return twice the daily move of Alphabet (GOOGL)

GGLS

Direxion Daily GOOGL Bear 1X ETF · Aims to return 1 times the opposite of the daily move of Alphabet (GOOGL)

Issuer Direxion Direxion

Sets out to return +2x -1x

Underlying asset GOOGL GOOGL

Segment company company

Fund returned, 3 months or since launch −14.0% +3.2%

Underlying returned, over that window −4.7% −4.7%

What the stated multiple implies, over that window −9.4% +4.7%

Difference from stated, over that window −4.6 pts −1.5 pts

Fund returned, 1 year or since launch +65.4% −32.9%

Difference from stated, over that window −18.4 pts +9.0 pts

Underlying volatility 34% 34%

Difference over the days both have traded −1.5 pts no shared window

Expense ratio 0.96% 1.02%

Launched Sep 7, 2022 Sep 7, 2022

Net assets $1.1bn $13m

GGLL and GGLS on the same fields, as of Sep 30, 2026. Source: ETFIQ.

GGLL in plain words

Three months to Sep 30, 2026: GGLL returned −14.0% where its own daily promise gave −11.7%, 2.3 points short. Read the multiple against the whole window instead and 2 times GOOGL's −4.7% implies −9.4%, which makes GGLL look 4.6 points short. 2.4 of that is daily compounding, which happens to any 2 times fund over the same path, and the rest is the fund. GGLL aims to return +2 times GOOGL's move each day, then resets. Over one day it does that. Over longer, the daily results compound, so the total is not +2 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more. GOOGL moved at 34% annualized over that window. That is what decides how far the two figures separate: the same fund on a calm underlying and a violent one is a different product.

GGLS in plain words

Three months to Sep 30, 2026: GGLS returned +3.2% where its own daily promise gave +2.0%, 1.2 points over. Read the multiple against the whole window instead and −1 times GOOGL's −4.7% implies +4.7%, which makes GGLS look 1.5 points short. 2.7 of that is daily compounding, which happens to any −1 times fund over the same path, and the rest is the fund. GGLS aims to return -1 times GOOGL's move each day, then resets. Over longer, the daily results compound, so the total is not -1 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more.

Questions people ask

Which came closer to its stated multiple, GGLL or GGLS?: Over the window to Sep 30, 2026, GGLL finished 4.6 points from what its multiple implies and GGLS finished 1.5 points from its own, so GGLS came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
Are GGLL and GGLS levered on the same thing?: Yes. Both are levered on Alphabet, GGLL at +2 times and GGLS at -1 times the daily move.
Which one decays faster, GGLL or GGLS?: Decay follows how much the underlying moves about. Over this window GGLL’s moved at 34% annualized and GGLS’s at 34%, so GGLL has the rougher ride and, at the same multiple, loses more to compounding.
Can I hold GGLL or GGLS for a year?: Both reset every day, so the multiple in the name applies to a single day and the daily results compound. Over a year the total is not the multiple times the year’s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way.
Which is cheaper, GGLL or GGLS?: GGLL charges 0.96% a year and GGLS charges 1.02%, so GGLL is cheaper. Fees come from each fund's prospectus.

Other comparisons

GGLL vs GOGL GGLL vs GOOL GGLL vs GOOX GGLL vs GOU GGLS vs GOGL GGLS vs GOOL GGLS vs GOOX GGLS vs GOU

GGLL on its own →GGLS on its own →How every figure is computed →Standards and sources →

Where these figures came from

GGLL and GGLS filings on SEC EDGAR ↗GGLL and GGLS prospectus with the expense ratio (SEC) ↗Direxion website ↗

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.

Cite this page

ETFIQ, GGLL against GGLS, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/ggll-vs-ggls

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.