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

Over the window to Sep 30, 2026, GGLS finished 1.5 points from what its multiple implies and GOOX finished 4.7 points from its own, so GGLS came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.

Are GGLS and GOOX levered on the same thing?

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

Which one decays faster, GGLS or GOOX?

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

Can I hold GGLS or GOOX 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, GGLS or GOOX?

GGLS charges 1.02% a year and GOOX charges 1.05%, so GGLS is cheaper. Fees come from each fund's prospectus.

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GGLS vs GOOX: which held to its multiple?

Over three months against its own daily promise, GGLS finished 1.2 points over and GOOX 2.4 points short. Direxion Daily GOOGL Bear 1X ETF and T-REX 2X LONG ALPHABET DAILY TARGET ETF.

+3.2%

GGLS returned, 3 months

−14.1%

GOOX returned, 3 months

−1.5 pts

GGLS from its stated multiple

−4.7 pts

GOOX from its stated multiple

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%

GOOX · 3 months to Sep 30, 20264.7 pts short of its stated multiple

GOOX returned −14.1% while 2 times GOOGL's move would have been −9.4%

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

GGLS among the 125 inverse ETFs over three months

GGLS 33.6

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

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

GOOX 58.4

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

A percentile among the 125 inverse ETFs over three months. GOOX is a percentile among the 470 leveraged ETFs, long, 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	GGLS	GOOX	GGLS	GOOX	GGLS	GOOX
1 month	−1.6%	+1.5%	−1.5%	+2.9%	−0.1 pts	−1.4 pts
3 months	+3.2%	−14.1%	+4.7%	−9.4%	−1.5 pts	−4.7 pts
6 months	−16.5%	+19.0%	−15.8%	+31.7%	−0.6 pts	−12.7 pts
1 year	−32.9%	+59.7%	−41.9%	+83.8%	+9.0 pts	−24.1 pts
3 years	−65.5%	not published	not meaningful	not published	not meaningful	not published
Since launch GGLS Sep 2022 · GOOX Jan 2024	−72.5%	+227.6%	not meaningful	not meaningful	not meaningful	not meaningful

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

On the same fields

GGLS

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

GOOX

T-REX 2X LONG ALPHABET DAILY TARGET ETF · Aims to return twice the daily move of Alphabet (GOOGL)

Issuer Direxion T-REX

Sets out to return -1x +2x

Underlying asset GOOGL GOOGL

Segment company company

Fund returned, 3 months or since launch +3.2% −14.1%

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

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

Difference from stated, over that window −1.5 pts −4.7 pts

Fund returned, 1 year or since launch −32.9% +59.7%

Difference from stated, over that window +9.0 pts −24.1 pts

Underlying volatility 34% 34%

Difference over the days both have traded no shared window −1.4 pts

Expense ratio 1.02% 1.05%

Launched Sep 7, 2022 Jan 11, 2024

Net assets $13m $63m

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

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 one day it does that. 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. 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.

GOOX in plain words

Three months to Sep 30, 2026: GOOX returned −14.1% where its own daily promise gave −11.7%, 2.4 points short. Read the multiple against the whole window instead and 2 times GOOGL's −4.7% implies −9.4%, which makes GOOX look 4.7 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. GOOX aims to return +2 times GOOGL's move each day, then resets. 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.

Questions people ask

Which came closer to its stated multiple, GGLS or GOOX?: Over the window to Sep 30, 2026, GGLS finished 1.5 points from what its multiple implies and GOOX finished 4.7 points from its own, so GGLS came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
Are GGLS and GOOX levered on the same thing?: Yes. Both are levered on Alphabet, GGLS at -1 times and GOOX at +2 times the daily move.
Which one decays faster, GGLS or GOOX?: Decay follows how much the underlying moves about. Over this window GGLS’s moved at 34% annualized and GOOX’s at 34%, so GGLS has the rougher ride and, at the same multiple, loses more to compounding.
Can I hold GGLS or GOOX 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, GGLS or GOOX?: GGLS charges 1.02% a year and GOOX charges 1.05%, so GGLS is cheaper. Fees come from each fund's prospectus.

Other comparisons

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

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

Where these figures came from

GGLS filings on SEC EDGAR ↗GGLS prospectus with the expense ratio (SEC) ↗Direxion website ↗GOOX filings on SEC EDGAR ↗GOOX prospectus with the expense ratio (SEC) ↗T-REX page for GOOX ↗

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

Open data

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