At a glance
GGLL charges 0.96% a year. It has $1.06B in assets; it paid 5.8% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +17.3% with distributions reinvested (S&P 500: +11.5%); over three years it returned +53.3% a year.
The short version
Direxion Daily GOOGL Bull 2X Shares (GGLL) aims to deliver twice the daily return of Alphabet's Class A stock (GOOGL), mostly through swap agreements with large banks. It resets its leverage every trading day, so over weeks or months its results can drift far from 2× GOOGL's return. It charges 0.96% a year and is built for short-term traders taking a view on one company, not for buy-and-hold investors.
Price history
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GGLL +17.3% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| GGLL official prospectus, to Dec 31, 2025 | — | +123.20% | — | — | — | +55.68% |
| GGLL price data to Oct 27, 2026 | -10.1% | +17.3% | +53.3% | — | — | +38.4% |
- Over the year to Oct 27, 2026, GGLL returned +17.3%.
- Its worst full calendar year was 2024 (+48.8%); its best was 2025 (+122.9%).
- The deepest fall in its price history was 52.8% (Feb 4, 2025 to Apr 8, 2025), recovered by Sep 3, 2025.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | -10.1% | — |
| 2025 | +122.9% | +123.20% |
| 2024 | +48.8% | +49.19% |
| 2023 | +81.2% | +80.61% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $1.7700 | |
| 2025 | $4.0300 | +168.7% |
| 2024 | $1.5000 | +127.3% |
| 2023 | $0.6600 |
What's inside
As of Jul 31, 2026, most of the fund sat in cash, Treasury bills and money-market holdings (87.12% of net assets), with its exposure coming from 6 swap and futures positions rather than from owning the stocks outright.
| Holding | Weight | |
|---|---|---|
| ALPHABET INC | 16.73% |
By country
United States 16.73%By asset type
Stocks 16.73%What changed recently
- Over the three months to Jul 31, 2026, investors added a net $172.5M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -3.55%, -13.31%, -3.15%.
How it works
GGLL doesn't follow an index. It is tied to a single stock, Alphabet Inc.'s Class A shares (GOOGL), and seeks 200% of GOOGL's return each trading day. Under normal conditions it puts at least 80% of net assets into GOOGL shares and financial instruments, mainly swap agreements, that together deliver that 2× exposure. A swap is a contract in which a large bank agrees to pay the fund GOOGL's return on a set amount, here equal to twice the fund's net assets. As of July 31, 2026, GOOGL shares made up about 16.7% of assets and cash and short-term instruments about 87%, with swaps supplying the rest of the exposure.
At each market close, the adviser, Rafferty Asset Management, resets exposure back to 2×. After a rising day it adds exposure; after a falling day it cuts it. A "day" runs from one close to the next, so shares bought midday will behave differently.
Because of this daily reset, returns over longer periods compound and will very likely differ from twice GOOGL's return. The prospectus warns the fund will lose money if GOOGL is flat over time, and could lose money even if GOOGL rises. The fund is non-diversified, relies on a limited number of swap counterparties, and its board can change the objective without a shareholder vote.
What it really costs
- GGLL charges 0.96% a year.
- Of that, 0.75% is the management fee; the rest covers other fund expenses.
- Using the prospectus's standard example, $10,000 invested would cost about $98 in the first year and $1,178 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| GGLL | $98 | $306 | $531 | $1,178 |
Structure and tax notes
- Resets its exposure every day. Over periods longer than a day, compounding means returns can differ sharply from 2× the index — usually worse in choppy markets. Built for short-term trading, not buy-and-hold.
In a retirement portfolio
GGLL resets 2× leverage on a single stock every day, and its prospectus says it is not designed to deliver that multiple over any period longer than one day.
GGLL launched in September 2022, so it has no record from the 2008 or 2020 crashes and missed most of the 2022 bear market. Each full calendar year from 2023 through 2025 was a gain, according to the prospectus, and the smallest was 49.2% in 2024. The swings were severe, though. It fell 52.8% between February 4 and April 8, 2025, and didn't get back to its old high until September 3, 2025. Anyone who had to sell during that stretch would have locked in a deep loss.
Its trailing 12-month yield was 5.8% as of October 27, 2026, paid quarterly, but its goal is leveraged daily returns, not steady income. It costs 0.96% a year, or $98 in the first year on $10,000 in the SEC's standard example. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Active traders who want twice GOOGL's daily move for a day or a few days and monitor the position closely.
- Traders with a strong short-term view on Alphabet who can accept drops like the fund's 52.8% fall over about two months in 2025.
- Investors comfortable with swap-based exposure, where large banks pay the fund's 2× GOOGL return, and with the counterparty risk that brings.
Look elsewhere if
- Buy-and-hold and retirement investors: the daily reset means returns over months can differ sharply from 2× GOOGL, or even turn negative.
- Anyone seeking diversification: the fund is tied to one company, Alphabet, and is concentrated in a single industry.
- Cost-conscious investors: the 0.96% expense ratio adds up to $1,178 over 10 years on $10,000 in the SEC's standard example.
Close alternatives
Matched by leveraged/inverse funds on the same index (the index could not be identified from the name).
No close alternatives found.
Questions investors ask
Is GGLL a good long-term investment?
GGLL is built for short-term trading, not long-term holding. Its prospectus says it seeks 200% of GOOGL's daily return and does not aim for that over any longer period. Because it resets every day, returns over weeks or months compound and can differ sharply from 2× GOOGL. The fund can even lose money while GOOGL rises. It posted big gains in each full year from 2023 through 2025, but it also fell 52.8% in early 2025.
What's the difference between GGLL and buying GOOGL stock?
Owning GOOGL shares gives you Alphabet's actual return with no ongoing fund fee. GGLL aims for twice GOOGL's daily return, mainly through swaps with large banks, and charges 0.96% a year. As of July 31, 2026, only about 16.7% of its assets were in GOOGL shares. Most of the rest was cash and short-term instruments backing the swaps. GGLL also adds counterparty risk, daily rebalancing and compounding effects that a direct shareholder doesn't face.
Does GGLL pay dividends?
Yes, GGLL makes quarterly distributions. Its trailing 12-month yield was 5.8% as of October 27, 2026, or $4.96 per share. Income isn't the fund's purpose, though. Its objective is twice GOOGL's daily return, and its price moves can dwarf its payouts: it fell 14.1% in the month ending October 27, 2026. Investors looking for steady income usually turn to funds designed for that goal.
How much does GGLL cost per year?
GGLL's expense ratio is 0.96% a year, including a 0.75% management fee, according to its prospectus filed February 26, 2026. The SEC's standard example assumes $10,000 invested, a 5% yearly return and shares sold at the end of each period. On that basis, costs would total about $98 after 1 year, $306 after 3 years, $531 after 5 years and $1,178 after 10 years. These figures don't include the drag that daily rebalancing can cause in choppy markets.
Can you lose all your money in GGLL?
Yes. The prospectus warns that you could lose all the money you invest in the fund. Because it carries 2× daily exposure, a sharp one-day drop in GOOGL is roughly doubled for the fund. It also depends on its swap counterparties paying what they owe. The fund's deepest drop was 52.8%, from February 4 to April 8, 2025, and it lost 36.79% in the quarter ending March 31, 2025.