AAPL vs. UGL

Last updated Jun 13, 2026

AAPL (Apple Inc) is a stock, while UGL (ProShares Ultra Gold) is Leveraged Commodities fund tracking the Bloomberg Gold Subindex (200%). Over the past 10 years, AAPL returned 29.36%/yr vs 16.37%/yr for UGL. At a 0.03 correlation, their price movements are largely independent.

Performance

AAPL vs. UGL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Apple Inc (AAPL) and ProShares Ultra Gold (UGL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AAPL achieves a 7.29% return, which is significantly higher than UGL's -12.66% return. Over the past 10 years, AAPL has outperformed UGL with an annualized return of 29.36%, while UGL has yielded a comparatively lower 16.37% annualized return.

AAPL

• 1D: -1.52%
• 1M: -2.59%
• YTD: 7.29%
• 6M: 4.81%
• 1Y: 46.73%
• 3Y*: 17.21%
• 5Y*: 18.59%
• 10Y*: 29.36%

UGL

• 1D: 0.08%
• 1M: -20.27%
• YTD: -12.66%
• 6M: -12.99%
• 1Y: 32.76%
• 3Y*: 47.90%
• 5Y*: 24.60%
• 10Y*: 16.37%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AAPL vs. UGL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AAPL Apple Inc	7.29%	9.05%	30.71%	49.01%	-26.40%	34.65%	82.31%	88.96%	-5.39%	48.46%
UGL ProShares Ultra Gold	-12.66%	137.57%	46.36%	15.56%	-7.59%	-12.30%	39.04%	31.11%	-8.02%	22.50%

Correlation

The correlation between AAPL and UGL is 0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.04
Correlation (5Y) Calculated over the trailing 5-year period	0.03
Correlation (10Y) Calculated over the trailing 10-year period	0.01
Correlation (All Time) Calculated using the full available price history since Dec 3, 2008	0.03

Return for Risk

AAPL vs. UGL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AAPL

AAPL Risk / Return Rank: 88
AAPL Sharpe Ratio Rank: 90
AAPL Sortino Ratio Rank: 89
AAPL Omega Ratio Rank: 88
AAPL Calmar Ratio Rank: 86
AAPL Martin Ratio Rank: 86

UGL

UGL Risk / Return Rank: 21
UGL Sharpe Ratio Rank: 20
UGL Sortino Ratio Rank: 22
UGL Omega Ratio Rank: 26
UGL Calmar Ratio Rank: 19
UGL Martin Ratio Rank: 20

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.

AAPL vs. UGL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Apple Inc (AAPL) and ProShares Ultra Gold (UGL). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

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.

	AAPL	UGL	Difference
Sharpe ratio: Return per unit of total volatility	2.07	0.61	+1.47
Sortino ratio: Return per unit of downside risk	2.93	1.07	+1.86
Omega ratio: Gain probability vs. loss probability	1.38	1.16	+0.22
Calmar ratio: Return relative to maximum drawdown	3.40	0.71	+2.70
Martin ratio: Return relative to average drawdown	8.47	1.85	+6.62

AAPL vs. UGL - Sharpe Ratio Comparison

The current AAPL Sharpe Ratio is 2.07, which is higher than the UGL Sharpe Ratio of 0.61. The chart below compares the historical Sharpe Ratios of AAPL and UGL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AAPL vs. UGL - Drawdown Comparison

The maximum AAPL drawdown since its inception was -81.80%, which is greater than UGL's maximum drawdown of -75.93%. Use the drawdown chart below to compare losses from any high point for AAPL and UGL.

Drawdown Indicators

	AAPL	UGL	Difference
Max Drawdown Largest peak-to-trough decline	-81.80%	-75.93%	-5.87%
Max Drawdown (1Y) Largest decline over 1 year	-13.80%	-46.64%	+32.84%
Max Drawdown (3Y) Largest decline over 3 years	-33.36%	-46.64%	+13.28%
Max Drawdown (5Y) Largest decline over 5 years	-33.36%	-46.64%	+13.28%
Max Drawdown (10Y) Largest decline over 10 years	-38.52%	-46.64%	+8.12%
Current Drawdown Current decline from peak	-7.64%	-43.37%	+35.73%
Average Drawdown Average peak-to-trough decline	-29.59%	-43.62%	+14.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.53%	17.76%	-12.23%

Volatility

AAPL vs. UGL - Volatility Comparison

The current volatility for Apple Inc (AAPL) is 6.73%, while ProShares Ultra Gold (UGL) has a volatility of 15.51%. This indicates that AAPL experiences smaller price fluctuations and is considered to be less risky than UGL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AAPL	UGL	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.73%	15.51%	-8.78%
Volatility (6M) Calculated over the trailing 6-month period	16.53%	48.64%	-32.11%
Volatility (1Y) Calculated over the trailing 1-year period	22.64%	54.39%	-31.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.52%	36.61%	-9.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.92%	32.58%	-3.66%

Dividends

AAPL vs. UGL - Dividend Comparison

AAPL's dividend yield for the trailing twelve months is around 0.36%, while UGL has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AAPL Apple Inc	0.36%	0.38%	0.40%	0.49%	0.70%	0.49%	0.61%	1.04%	1.79%	1.45%	1.93%	1.93%
UGL ProShares Ultra Gold	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AAPL and UGL in my portfolio?

AAPL and UGL have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AAPL or UGL?

UGL has higher volatility (15.51%) compared to AAPL (6.73%). In terms of maximum drawdown, AAPL dropped -81.80% vs UGL's -75.93%.

Which has better risk-adjusted returns?

AAPL currently has the higher Sharpe Ratio (2.07 vs 0.61), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.