GGLS vs SPY
Direxion Daily GOOGL Bear 1X ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | GGLS | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 1.02% | 0.09% | |
| AUM | $12M | $821.1B | |
| Dividend Yield | 3.01% | 1.01% | |
| Holdings | 6 | 505 | |
| YTD Return | -12.30% | +14.24% | |
| 1Y Return | -44.57% | +21.71% | |
| 3Y Return (annualized) | -30.00% | +22.10% | |
| 5Y Return (annualized) | - | +13.21% | |
| Volatility (annualized) | 29.3% | 15.3% | |
| Max Drawdown | -81.2% | -56.5% | |
| Fund Family | Direxion Shares ETF Trust | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Sep 7, 2022 | Jan 22, 1993 |
GGLS vs SPY Performance
Direxion Daily GOOGL Bear 1X ETF (GGLS) is a ETF from Direxion Shares ETF Trust and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year GGLS returned -44.57% while SPY returned +21.71%. Year to date, GGLS is down 12.30% versus a gain of 14.24% for SPY.
Over three years, GGLS compounded at -30.00% per year against +22.10% for SPY. Across the full 4-year window we track, SPY has the edge at +8.86% annualized vs -28.30%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
GGLS has been the more volatile fund, with annualized monthly volatility of 29.3% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -81.2% for GGLS and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at -0.50. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
GGLS charges 1.02% per year while SPY charges 0.09%. On a $10,000 position that is $102 vs $9 annually, a gap of $93 per year that compounds over a long holding period. On income, GGLS currently yields 3.01% against 1.01% for SPY.
Holdings Overlap
GGLS and SPY share 0 holdings out of 507 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, GGLS or SPY?
GGLS has an expense ratio of 1.02% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $93 per year of difference.
Which performed better, GGLS or SPY?
Over the past year GGLS returned -44.57% vs +21.71% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (4 years), GGLS annualized -28.30% vs +8.86% for SPY. Past performance does not guarantee future results.
Which is riskier, GGLS or SPY?
GGLS has been the more volatile fund at 29.3% annualized versus 15.3% for SPY. Worst drawdown: GGLS -81.2% vs SPY -56.5%.
Should I hold both GGLS and SPY?
GGLS and SPY have a monthly-return correlation of -0.50, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between GGLS and SPY?
GGLS and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 507 unique securities.
Which pays a higher dividend, GGLS or SPY?
GGLS yields 3.01% while SPY yields 1.01%, so GGLS currently pays the higher dividend yield.
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