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

Over the window to Sep 30, 2026, GGLS finished 1.5 points from what its multiple implies and GOU finished 4.6 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 GOU levered on the same thing?

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

Which one decays faster, GGLS or GOU?

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

Can I hold GGLS or GOU 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 GOU?

GGLS charges 1.02% a year and GOU charges 1.15%, so GGLS is cheaper. Fees come from each fund's prospectus.

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GGLS vs GOU: which held to its multiple?

Over three months against its own daily promise, GGLS finished 1.2 points over and GOU 2.2 points short. Direxion Daily GOOGL Bear 1X ETF and GraniteShares 2x Long GOOGL Daily ETF.

+3.2%

GGLS returned, 3 months

−13.9%

GOU returned, 3 months

−1.5 pts

GGLS from its stated multiple

−4.6 pts

GOU 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%

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

GOU returned −13.9% while 2 times GOOGL's move would have been −9.4%

ETFIQ Decay Resistance Score · GOU 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

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

GOU 64.5

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

A percentile among the 125 inverse ETFs over three months. GOU 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	GOU	GGLS	GOU	GGLS	GOU
1 month	−1.6%	+1.6%	−1.5%	+2.9%	−0.1 pts	−1.3 pts
3 months	+3.2%	−13.9%	+4.7%	−9.4%	−1.5 pts	−4.6 pts
6 months	−16.5%	+19.6%	−15.8%	+31.7%	−0.6 pts	−12.1 pts
1 year	−32.9%	not published	−41.9%	not published	+9.0 pts	not published
3 years	−65.5%	not published	not meaningful	not published	not meaningful	not published
Since launch GGLS Sep 2022 · GOU Dec 2025	−72.5%	+0.1%	not meaningful	+18.5%	not meaningful	−18.4 pts

GGLS and GOU 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)

GOU

GraniteShares 2x Long GOOGL Daily ETF · Aims to return twice the daily move of Alphabet (GOOGL)

Issuer Direxion GraniteShares

Sets out to return -1x +2x

Underlying asset GOOGL GOOGL

Segment company company

Fund returned, 3 months or since launch +3.2% −13.9%

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 −4.6 pts

Fund returned, 1 year or since launch −32.9% +0.1%

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

Underlying volatility 34% 34%

Difference over the days both have traded no shared window −1.3 pts

Expense ratio 1.02% 1.15%

Launched Sep 7, 2022 Dec 2, 2025

Net assets $13m $18m

GGLS and GOU 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.

GOU in plain words

Three months to Sep 30, 2026: GOU returned −13.9% where its own daily promise gave −11.7%, 2.2 points short. Read the multiple against the whole window instead and 2 times GOOGL's −4.7% implies −9.4%, which makes GOU 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. GOU 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 GOU?: Over the window to Sep 30, 2026, GGLS finished 1.5 points from what its multiple implies and GOU finished 4.6 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 GOU levered on the same thing?: Yes. Both are levered on Alphabet, GGLS at -1 times and GOU at +2 times the daily move.
Which one decays faster, GGLS or GOU?: Decay follows how much the underlying moves about. Over this window GGLS’s moved at 34% annualized and GOU’s at 34%, so GGLS has the rougher ride and, at the same multiple, loses more to compounding.
Can I hold GGLS or GOU 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 GOU?: GGLS charges 1.02% a year and GOU charges 1.15%, so GGLS is cheaper. Fees come from each fund's prospectus.

Other comparisons

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

GGLS on its own →GOU 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 ↗GOU filings on SEC EDGAR ↗GOU prospectus with the expense ratio (SEC) ↗GraniteShares page for GOU ↗

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 GOU, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/ggls-vs-gou

Open data

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