ProShares Ultra Gold (UGL) belongs to the Leveraged Commodities category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with UGL. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to UGL
UGL charges 0.95% annually. There are 4 ETFs in the Leveraged Commodities category with lower expense ratios, going as low as 0.50%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Simplify Gold Strategy PLUS Income ETF | 0.50% | 37.25M | Dec 2024 | UGL vs YGLD | |
| DB Gold Double Long Exchange Traded Notes | 0.75% | 228.65M | Feb 2008 | UGL vs DGP | |
| DB Gold Double Short Exchange Traded Notes | 0.75% | 941.91K | Feb 2008 | UGL vs DZZ | |
| ProShares Ultra Silver | 0.93% | 1.25B | Dec 2008 | UGL vs AGQ | |
| ProShares UltraShort Bloomberg Crude Oil | 0.95% | 725.38M | Nov 2008 | UGL vs SCO |
Best Risk-Adjusted Alternatives to UGL
UGL has a PortfoliosLab risk / return rank of 17. There are 5 ETFs in the Leveraged Commodities category with higher risk-adjusted ranks, going as high as 34.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| ProShares Ultra Bloomberg Crude Oil | 34 | 361.56M | Nov 2008 | UGL vs UCO | |
| MicroSectors Oil & Gas Exploration & Production 3X... | 32 | 65.33M | Mar 2017 | UGL vs OILU | |
| DB Gold Double Short Exchange Traded Notes | 23 | 941.91K | Feb 2008 | UGL vs DZZ | |
| DB Gold Double Long Exchange Traded Notes | 19 | 228.65M | Feb 2008 | UGL vs DGP | |
| ProShares Ultra Silver | 18 | 1.25B | Dec 2008 | UGL vs AGQ |
Top Performing UGL Alternatives (YTD)
UGL is at -21.87% YTD. There are 9 ETFs in the Leveraged Commodities category with higher YTD returns, going as high as 100.52%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| ProShares Ultra Bloomberg Crude Oil | 100.52% | 361.56M | Nov 2008 | UGL vs UCO | |
| MicroSectors Oil & Gas Exploration & Production 3X... | 70.34% | 65.33M | Mar 2017 | UGL vs OILU | |
| Teucrium 2x Daily Wheat ETF | 36.00% | 8.25M | Dec 2024 | UGL vs WXET | |
| ProShares UltraShort Gold | 3.86% | 113.41M | Dec 2008 | UGL vs GLL | |
| Roundhill Gold WeeklyPay ETF | -11.45% | 16.72M | Oct 2025 | UGL vs GLDW |
Lowest Volatility Alternatives to UGL
UGL has 55.56% 1-year volatility. There are 7 ETFs in the Leveraged Commodities category with lower 1-year volatility, going as low as 36.63%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Roundhill Gold WeeklyPay ETF | 36.63% | 16.72M | Oct 2025 | UGL vs GLDW | |
| Teucrium 2x Daily Corn ETF | 36.85% | 4.25M | Dec 2024 | UGL vs CXRN | |
| Simplify Gold Strategy PLUS Income ETF | 42.25% | 37.25M | Dec 2024 | UGL vs YGLD | |
| Teucrium 2x Daily Wheat ETF | 48.94% | 8.25M | Dec 2024 | UGL vs WXET | |
| Direxion Daily Gold Bull 2X ETF | 54.54% | 3.05M | May 2026 | UGL vs UGLD |
Lowest Drawdown Alternatives to UGL
UGL has a 1-year max drawdown of -49.38%. There are 6 ETFs in the Leveraged Commodities category with shallower 1-year drawdowns, going as shallow as -30.76%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Teucrium 2x Daily Wheat ETF | -30.76% | 8.25M | Dec 2024 | UGL vs WXET | |
| Teucrium 2x Daily Corn ETF | -31.96% | 4.25M | Dec 2024 | UGL vs CXRN | |
| ProShares Ultra Bloomberg Crude Oil | -38.55% | 361.56M | Nov 2008 | UGL vs UCO | |
| Simplify Gold Strategy PLUS Income ETF | -42.90% | 37.25M | Dec 2024 | UGL vs YGLD | |
| MicroSectors Oil & Gas Exploration & Production 3X... | -46.49% | 65.33M | Mar 2017 | UGL vs OILU |
Other ETFs from ProShares
The 10 most viewed ProShares ETFs shown here include TQQQ, QLD, BITO and span 10 categories. AUM among these funds goes as high as $37B.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| ProShares UltraPro QQQ | Leveraged Equities | 48 | 38.33% | 37.04B | Feb 2010 | UGL vs TQQQ | |
| ProShares Ultra QQQ | Leveraged Equities | 50 | 28.12% | 14.15B | Jun 2006 | UGL vs QLD | |
| ProShares Bitcoin Strategy ETF | Cryptocurrency | 1 | -30.09% | 1.45B | Oct 2021 | UGL vs BITO | |
| ProShares UltraPro S&P 500 | Leveraged Equities, S&P 500 | 52 | 23.85% | 5.47B | Jun 2009 | UGL vs UPRO | |
| ProShares Ultra S&P500 | Leveraged Equities, S&P 500 | 54 | 17.32% | 8.13B | Jun 2006 | UGL vs SSO | |
| ProShares Ultra Semiconductors | Leveraged Equities, Semiconductors | 70 | 70.32% | 2.97B | Jan 2007 | UGL vs USD | |
| ProShares S&P 500 Dividend Aristocrats ETF | Dividend, S&P 500, Large Cap Value Equities | 37 | 10.60% | 11.63B | Oct 2013 | UGL vs NOBL | |
| ProShares UltraPro Short QQQ | Leveraged Equities, Inverse Equities, Nasdaq-100 | 1 | -40.27% | 2.09B | Feb 2010 | UGL vs SQQQ | |
| ProShares Nasdaq-100 High Income ETF | Nasdaq-100, Derivative Income, Dividend | 54 | 13.67% | 410.75M | Mar 2024 | UGL vs IQQQ | |
| ProShares Ultra VIX Short-Term Futures ETF | Volatility | 2 | -32.31% | 216.19M | Oct 2011 | UGL vs UVXY |
Often Compared With UGL
Investors most often compare UGL with GLD, NUGT, GDX. These 20 comparison targets span 10 categories, based on PortfoliosLab usage data.
Compare UGL with Any Fund or Stock
Compare UGL with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair UGL with funds that move differently
ProShares Ultra Gold alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to UGL.
Explore UGL Diversifiers