{
 "ticker": "GGLS",
 "name": "Direxion Daily GOOGL Bear 1X ETF",
 "issuer": "Direxion",
 "desk": "leverage",
 "url": "https://etfiq.com/funds/ggls",
 "html": "https://etfiq.com/funds/ggls",
 "markdown": "https://etfiq.com/funds/ggls.md",
 "as_of": "2026-09-30",
 "verdict": "Three months to Sep 30, 2026: GGLS returned +3.2% where its own daily promise gave +2.0%, 1.2 points over.",
 "key_facts": [
  {
   "key": "what_googl_did",
   "label": "What GOOGL did",
   "value": "\u22124.7%",
   "source": null,
   "as_of": "2026-09-30",
   "sentence": "GGLS, what GOOGL did: \u22124.7%, as of Sep 30, 2026."
  },
  {
   "key": "what_1_times_a_day_gives",
   "label": "What \u22121 times a day gives",
   "value": "+2.0%",
   "source": null,
   "as_of": "2026-09-30",
   "sentence": "GGLS, what \u22121 times a day gives: +2.0%, as of Sep 30, 2026."
  },
  {
   "key": "what_the_fund_returned",
   "label": "What the fund returned",
   "value": "+3.2%",
   "source": null,
   "as_of": "2026-09-30",
   "sentence": "GGLS, what the fund returned: +3.2%, as of Sep 30, 2026."
  },
  {
   "key": "the_fund_itself_added",
   "label": "The fund itself added",
   "value": "+1.2 pts",
   "source": null,
   "as_of": "2026-09-30",
   "sentence": "GGLS, the fund itself added: +1.2 pts, as of Sep 30, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$13m",
   "source": "issuer page, as of Sep 30, 2026",
   "as_of": "2026-09-30",
   "sentence": "GGLS, net assets: $13m (issuer page, as of Sep 30, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "1.02%",
   "source": "485BPOS XBRL, Feb 26, 2026",
   "as_of": "2026-09-30",
   "sentence": "GGLS, expense ratio: 1.02% (485BPOS XBRL, Feb 26, 2026)."
  }
 ],
 "fields": [
  {
   "key": "sets_out_to_return",
   "label": "Sets out to return",
   "value": "-1 times the daily move of GOOGL, reset daily",
   "source": null
  },
  {
   "key": "multiple_a_holder_actually_got_over_the_window",
   "label": "Multiple a holder actually got over the window",
   "value": "GOOGL moved \u22124.7% over this window, too little to read a multiple from",
   "source": "ETFIQ"
  },
  {
   "key": "underlying",
   "label": "Underlying",
   "value": "GOOGL",
   "source": null
  },
  {
   "key": "segment",
   "label": "Segment",
   "value": "single stock, company",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$13m",
   "source": "issuer page, as of Sep 30, 2026"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "1.02%",
   "source": "485BPOS XBRL, Feb 26, 2026"
  },
  {
   "key": "launched",
   "label": "Launched",
   "value": "Sep 7, 2022",
   "source": null
  },
  {
   "key": "underlying_volatility_over_the_window",
   "label": "Underlying volatility over the window",
   "value": "34% annualized",
   "source": "ETFIQ"
  }
 ],
 "periods": [
  {
   "window": "1 month",
   "Fund": "\u22121.6%",
   "GOOGL": "+1.5%",
   "-1x the move": "\u22121.5%",
   "Difference": "\u22120.1 pts",
   "GOOGL moved about": "24%"
  },
  {
   "window": "3 months",
   "Fund": "+3.2%",
   "GOOGL": "\u22124.7%",
   "-1x the move": "+4.7%",
   "Difference": "\u22121.5 pts",
   "GOOGL moved about": "34%"
  },
  {
   "window": "6 months",
   "Fund": "\u221216.5%",
   "GOOGL": "+15.8%",
   "-1x the move": "\u221215.8%",
   "Difference": "\u22120.6 pts",
   "GOOGL moved about": "35%"
  },
  {
   "window": "1 year",
   "Fund": "\u221232.9%",
   "GOOGL": "+41.9%",
   "-1x the move": "\u221241.9%",
   "Difference": "+9.0 pts",
   "GOOGL moved about": "32%"
  },
  {
   "window": "3 years",
   "Fund": "\u221265.5%",
   "GOOGL": "+165.5%",
   "-1x the move": "not meaningful over this window",
   "Difference": "not meaningful over this window",
   "GOOGL moved about": "31%"
  },
  {
   "window": "Since launch",
   "Fund": "\u221272.5%",
   "GOOGL": "+217.4%",
   "-1x the move": "not meaningful over this window",
   "Difference": "not meaningful over this window",
   "GOOGL moved about": "32%"
  }
 ],
 "questions": [
  {
   "q": "Did GGLS return -1 times GOOGL?",
   "a": "Over the window to Sep 30, 2026, GOOGL moved \u22124.7% and GGLS returned +3.2%. \u22121 times that move is +4.7%, so the fund came out 1.5 points short of it."
  },
  {
   "q": "Why does GGLS not return -1 times over a year?",
   "a": "Because it resets daily. GGLS aims at -1 times each day's move, and daily results compound. Over a run where the underlying falls and comes back, compounding a levered daily return leaves a holder behind what -1 times the period move would suggest; over a steady run in one direction it can leave them ahead. The longer the holding, and the more the underlying moves about, the further apart the two figures get."
  }
 ],
 "generated": "2026-10-01",
 "license": "https://etfiq.com/license/",
 "license_text": "Free to use with attribution. ETFIQ (etfiq.com)."
}