PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan

ProShares UltraShort Gold (GLL) Sharpe Ratio: -0.68

ETF · Currency in USD · Last updated Jul 14, 2026

GLL is a passive ETF by ProShares tracking the investment results of the Bloomberg Gold (-200%). GLL launched on Dec 1, 2008 and has a 0.95% expense ratio.

GLL's Sharpe Ratio of -0.68 indicates that for each unit of volatility, it generates -0.68 units of excess return above the risk-free rate. The ratio is calculated using historical daily returns over the past 12 months (as of Jul 14, 2026).

Sharpe uses total volatility (standard deviation) which includes both upside and downside price movements, making it useful for comparing risk-adjusted returns across different assets. For how to read this number and when it can mislead, see Sharpe Ratio Explained.

GLL Sharpe Ratio Rank

GLL Sharpe Ratio Rank: 3.84
Concerning

GLL ranks above 3.8% of all investments in our database based on Sharpe Ratio over the past 12 months, indicating weak returns relative to total risk taken. Securities are ranked from 0 (worst) to 100 (best).

What moves the rank

  • Strong returns with low total volatility → Higher rank
  • High volatility (both upside and downside) → Lower rank
  • Consistent returns → Higher rank than volatile returns of same magnitude
  • Sharp drawdowns increase volatility → Lower rank

What you can do with this information

  • Weak risk-adjusted returns relative to category peers
  • Evaluate whether this holding aligns with your risk-return objectives
  • Consider reducing exposure or re-evaluating position size
  • Review higher-ranked alternatives in the same category

GLL Sharpe Ratio Market Positioning

The chart shows GLL's Sharpe Ratio relative to all ETFs on our platform, with color zones indicating percentile rankings. Higher ratios indicate better risk-adjusted returns.

  • Red zone (bottom 25%): 0.74 or lower
  • Yellow zone (middle 50%): 0.74 to 1.91
  • Green zone (top 25%): 1.91 or higher
  • Top 1%: 6.55+
  • Median: 1.39 — half of all investments score higher

How it compares to other similar ETFs

The table compares ProShares UltraShort Gold's Sharpe Ratio with other ETFs in the Leveraged Commodities, Gold, Precious Metals category across multiple time periods, showing how GLL's risk-adjusted performance compares to similar funds.

Data shows 1-, 5-, and 10-year periods, plus each fund's all-time average, as of Jul 14, 2026.

SymbolName1Y Sharpe Ratio5Y Sharpe Ratio10Y Sharpe RatioAll Time Sharpe Ratio
AGMIThemes Silver Miners ETF1.29
SLVPiShares MSCI Global Silver and Metals Miners ETF1.14
SGDJSprott Junior Gold Miners ETF1.12
GDEWisdomTree Efficient Gold Plus Equity Strategy Fund1.07
SILJAmplify Junior Silver Miners ETF1.03
UCOProShares Ultra Bloomberg Crude Oil1.00
GOEXGlobal X Gold Explorers ETF0.99
GBUGSprott Active Gold & Silver Miners ETF0.99
RINGiShares MSCI Global Gold Miners ETF0.94
OILUMicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN0.92
GLLProShares UltraShort Gold-0.68

S&P 500 Index

How to choose period

Historical Sharpe Ratio

The chart shows GLL's rolling Sharpe ratio over time compared to your chosen benchmark. Rising trends indicate improving returns relative to total volatility, while declining trends may signal deteriorating risk-adjusted performance or increased volatility. Use multiple timeframes to distinguish short-term fluctuations from long-term patterns.

Identify market cycles by observing when GLL consistently outperforms (line above benchmark), underperforms (below benchmark), or aligns with the benchmark.

Loading charts...

Sharpe Ratio Calculator

How does GLL fit in your portfolio?

Add your other holdings to see your portfolio's Sharpe Ratio and find out.

Analyze Your Portfolio