- ISIN
- US74347W3951
- CUSIP
- 74347W395
- Issuer
- ProShares
- Inception Date
- Dec 1, 2008
- Category
- Leveraged Commodities, Gold, Precious Metals
- Leveraged
- 2x
- Index Tracked
- Bloomberg Gold (-200%)
- Distribution Policy
- Accumulating
- Asset Class
- Commodity
- Assets Under Management
- $107M
Share Price Chart
Loading charts...
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Performance
GLL Performance Chart
ProShares UltraShort Gold (GLL) is down 4.9% since the beginning of the year. GLL is currently trading at $25 per share. Investors who bought $1,000 worth of GLL shares 5 years ago would now be looking at an investment worth $180.
Loading charts...
Returns By Period
ProShares UltraShort Gold (GLL) has returned -4.93% so far this year and -42.21% over the past 12 months. Over the last ten years, GLL has returned -21.56% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
ProShares UltraShort Gold
- 1D
- 1.30%
- 1M
- 14.51%
- YTD
- -4.93%
- 6M
- 0.89%
- 1Y
- -42.21%
- 3Y*
- -40.08%
- 5Y*
- -29.04%
- 10Y*
- -21.56%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
GLL Monthly Returns History
Based on dividend-adjusted daily data since Dec 3, 2008, GLL's average daily return is -0.08%, while the average monthly return is -1.62%.
Historically, 45% of months were positive and 55% were negative. The best month was Jun 2013 with a return of +23.7%, while the worst month was Dec 2008 at -24.5%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 7 months.
On a daily basis, GLL closed higher 47% of trading days. The best single day was Jan 30, 2026 with a return of +19.3%, while the worst single day was Feb 3, 2026 at -12.3%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -24.36% | -16.99% | 22.90% | 2.58% | 3.24% | 16.33% | -4.93% | ||||||
| 2025 | -11.55% | -2.77% | -16.20% | -10.81% | -0.80% | -0.71% | 1.66% | -9.77% | -18.51% | -8.77% | -9.88% | -4.42% | -62.81% |
| 2024 | 3.87% | 0.18% | -14.81% | -5.56% | -2.42% | 0.60% | -9.46% | -3.26% | -8.69% | -7.50% | 6.36% | 3.11% | -33.33% |
| 2023 | -9.97% | 12.08% | -14.17% | -1.30% | 3.47% | 5.65% | -3.66% | 3.74% | 11.24% | -12.78% | -4.13% | -2.04% | -14.91% |
| 2022 | 2.97% | -11.74% | -4.05% | 4.11% | 6.89% | 2.83% | 5.00% | 6.41% | 5.68% | 3.65% | -15.16% | -5.52% | -2.12% |
| 2021 | 5.77% | 13.15% | 1.66% | -6.89% | -14.29% | 14.72% | -4.89% | -0.74% | 6.32% | -3.48% | 0.80% | -6.55% | 1.66% |
Benchmark Metrics
ProShares UltraShort Gold has an annualized alpha of -16.04%, beta of -0.13, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since December 03, 2008.
- This ETF participated in 52.00% of S&P 500 Index downside but only -47.18% of its upside - more exposed to losses than it benefited from rallies.
- Beta of -0.13 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
- -16.04%
- Beta
- -0.13
- R²
- 0.00
- Upside Capture
- -47.18%
- Downside Capture
- 52.00%
Expense Ratio
GLL has a high expense ratio of 0.95%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
GLL ranks 3 for risk / return — in the bottom 3% of ETFs on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for ProShares UltraShort Gold (GLL) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| GLL | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.81 | ||
| Sortino ratioReturn per unit of downside risk | -3.88 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 1.37 | -0.49 |
| Calmar ratioReturn relative to maximum drawdown | -0.65 | 2.78 | -3.43 |
| Martin ratioReturn relative to average drawdown | -0.98 | 12.44 | -13.42 |
Dividends
Dividend History
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.
Loading charts...
Worst Drawdowns
The table below displays the maximum drawdowns of the ProShares UltraShort Gold. 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 ProShares UltraShort Gold was 99.24%, occurring on Mar 2, 2026. The portfolio has not yet recovered.
The current ProShares UltraShort Gold drawdown is 98.82%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2026 bear market2026 | -99.24%Mar 2026 | 17y 2mo | — | 17y 6moDec 2008 - now |
Drawdown Indicators
| GLL | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.24% | -56.78% | -42.46% |
Max Drawdown (1Y)Largest decline over 1 year | -65.10% | -9.10% | -56.00% |
Max Drawdown (3Y)Largest decline over 3 years | -87.95% | -18.90% | -69.05% |
Max Drawdown (5Y)Largest decline over 5 years | -89.76% | -25.43% | -64.33% |
Max Drawdown (10Y)Largest decline over 10 years | -95.76% | -33.92% | -61.84% |
Current DrawdownCurrent decline from peak | -98.82% | -1.80% | -97.02% |
Average DrawdownAverage peak-to-trough decline | -85.15% | -10.71% | -74.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 43.00% | 2.03% | +40.97% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
Loading charts...
Build a portfolio with GLL
Add ProShares UltraShort Gold to a portfolio and analyze allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Analyzer with GLL