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DB Gold Double Short Exchange Traded Notes (DZZ)
Performance
Return for Risk
Dividends
Drawdowns
Volatility

ETF Info

ISIN
US25154H7567
CUSIP
25154H756
Inception Date
Feb 27, 2008
Region
Global (Broad)
Leveraged
2x
Index Tracked
Deutsche Bank Liquid Commodity Index-Optimum Yield Gold (-200%)
Distribution Policy
Accumulating
Asset Class
Commodity

Share Price Chart


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Performance

Performance Chart

The chart shows the growth of an initial investment of $10,000 in DB Gold Double Short Exchange Traded Notes, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.


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S&P 500 Index

Returns By Period

DB Gold Double Short Exchange Traded Notes (DZZ) has returned -31.51% so far this year and 61.35% over the past 12 months. Over the last ten years, DZZ has returned -8.65% per year, falling short of the S&P 500 Index benchmark, which averaged 12.16% annually.


DB Gold Double Short Exchange Traded Notes

1D
-2.77%
1M
3.34%
YTD
-31.51%
6M
72.00%
1Y
61.35%
3Y*
3.35%
5Y*
-3.31%
10Y*
-8.65%

Benchmark (S&P 500 Index)

1D
2.91%
1M
-5.09%
YTD
-4.63%
6M
-2.39%
1Y
16.33%
3Y*
16.69%
5Y*
10.18%
10Y*
12.16%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Monthly Returns

Based on dividend-adjusted daily data since Feb 28, 2008, DZZ's average daily return is 0.00%, while the average monthly return is +0.24%. At this rate, your investment would double in approximately 24.1 years.

Historically, 47% of months were positive and 53% were negative. The best month was Oct 2025 with a return of +287.2%, while the worst month was Nov 2025 at -39.2%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 9 months.

On a daily basis, DZZ closed higher 47% of trading days. The best single day was Oct 27, 2025 with a return of +133.9%, while the worst single day was Oct 30, 2025 at -23.2%.


JanFebMarAprMayJunJulAugSepOctNovDecTotal
20263.39%-35.89%3.34%-31.51%
2025-3.61%23.27%-16.84%19.90%-5.09%0.81%-0.34%-4.22%-14.34%287.16%-39.24%6.76%132.78%
2024-2.38%5.05%-13.62%-7.56%-3.37%-0.31%-5.93%-1.33%-5.86%-4.63%-1.80%0.59%-35.06%
2023-10.30%10.27%-12.89%-1.78%3.71%5.50%-3.71%4.26%13.04%-15.15%-3.64%6.95%-8.14%
20223.72%-10.04%-5.77%4.46%6.43%3.66%5.77%6.14%7.84%6.06%-18.79%-2.72%2.79%
20212.99%12.16%2.70%-6.25%-14.96%13.24%-4.97%0.08%5.87%-2.77%1.78%-5.78%0.56%

Benchmark Metrics

DB Gold Double Short Exchange Traded Notes has an annualized alpha of 0.47%, beta of -0.03, and R² of 0.00 versus S&P 500 Index. Calculated based on daily prices since February 29, 2008.

  • This ETF participated in 37.14% of S&P 500 Index downside but only -20.62% of its upside — more exposed to losses than it benefited from rallies.
  • Beta of -0.03 may look defensive, but with R² of 0.00 this ETF is largely uncorrelated with S&P 500 Index — low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
  • R² of 0.00 means this ETF moves largely independently of S&P 500 Index — capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

Alpha
0.47%
Beta
-0.03
0.00
Upside Capture
-20.62%
Downside Capture
37.14%

Expense Ratio

DZZ has an expense ratio of 0.75%, placing it in the medium range.


Return for Risk

Risk / Return Rank

DZZ ranks 48 for risk / return — on par with similar ETFs. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.


DZZ Risk / Return Rank: 4848
Overall Rank
DZZ Sharpe Ratio Rank: 2121
Sharpe Ratio Rank
DZZ Sortino Ratio Rank: 8686
Sortino Ratio Rank
DZZ Omega Ratio Rank: 7878
Omega Ratio Rank
DZZ Calmar Ratio Rank: 3333
Calmar Ratio Rank
DZZ Martin Ratio Rank: 2222
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

Return / Risk — by metrics

The table below present risk-adjusted performance metrics for DB Gold Double Short Exchange Traded Notes (DZZ) and compare them to a chosen benchmark (S&P 500 Index).


DZZBenchmarkDifference

Sharpe ratio

Return per unit of total volatility

0.37

0.90

-0.53

Sortino ratio

Return per unit of downside risk

2.35

1.39

+0.97

Omega ratio

Gain probability vs. loss probability

1.31

1.21

+0.09

Calmar ratio

Return relative to maximum drawdown

0.85

1.40

-0.55

Martin ratio

Return relative to average drawdown

1.46

6.61

-5.14

Explore DZZ risk-adjusted metrics in detail

Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.

Dividends

Dividend History


DB Gold Double Short Exchange Traded Notes doesn't pay dividends

Drawdowns

Drawdowns Chart

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.


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Worst Drawdowns

The table below displays the maximum drawdowns of the DB Gold Double Short Exchange Traded Notes. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the DB Gold Double Short Exchange Traded Notes was 96.64%, occurring on Feb 7, 2025. The portfolio has not yet recovered.

The current DB Gold Double Short Exchange Traded Notes drawdown is 93.59%.


Depth

Start

To Bottom

Bottom

To Recover

End

Total

-96.64%Nov 13, 20084084Feb 7, 2025
-33.28%Sep 12, 200812Sep 29, 200818Oct 23, 200830
-23.87%May 2, 200851Jul 15, 200819Aug 11, 200870
-13.79%Oct 24, 20088Nov 4, 20086Nov 12, 200814
-12.5%Apr 2, 200811Apr 16, 20089Apr 29, 200820

Volatility

Volatility Chart

The chart below shows the rolling one-month volatility.


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