DGP vs. DIG
DGP (DB Gold Double Long Exchange Traded Notes) and DIG (ProShares Ultra Oil & Gas) are both exchange-traded funds - DGP is a Leveraged Commodities fund tracking the Deutsche Bank Liquid Commodity Index-Optimum Yield Gold (200%), while DIG is a Leveraged Equities fund tracking the Dow Jones U.S. Oil & Gas Index (200%). Both are passively managed. Over the past 10 years, DGP returned 16.38%/yr vs 4.46%/yr for DIG. At a 0.12 correlation, their price movements are largely independent. DGP charges 0.75%/yr vs 0.95%/yr for DIG.
Performance
DGP vs. DIG - Performance Comparison
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Returns By Period
In the year-to-date period, DGP achieves a -20.17% return, which is significantly lower than DIG's 62.13% return. Over the past 10 years, DGP has outperformed DIG with an annualized return of 16.38%, while DIG has yielded a comparatively lower 4.46% annualized return.
DGP
- 1D
- -0.43%
- 1M
- -11.22%
- 6M
- -28.99%
- YTD
- -20.17%
- 1Y
- 26.25%
- 3Y*
- 45.96%
- 5Y*
- 27.10%
- 10Y*
- 16.38%
- ALL TIME*
- 9.25%
DIG
- 1D
- 0.87%
- 1M
- 16.92%
- 6M
- 43.45%
- YTD
- 62.13%
- 1Y
- 74.21%
- 3Y*
- 17.88%
- 5Y*
- 33.41%
- 10Y*
- 4.46%
- ALL TIME*
- -0.17%
DGP vs. DIG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DGP DB Gold Double Long Exchange Traded Notes | -20.17% | 141.40% | 53.16% | 16.97% | -5.54% | -11.29% | 45.29% | 32.27% | -7.48% | 24.20% |
DIG ProShares Ultra Oil & Gas | 62.13% | 2.73% | 0.93% | -13.04% | 125.34% | 115.63% | -70.36% | 12.51% | -40.11% | -7.39% |
Correlation
The correlation between DGP and DIG is -0.03, 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 | -0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Feb 28, 2008 | 0.12 |
The correlation between DGP and DIG shifts across timeframes, from -0.03 (1 year) to 0.13 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
DGP vs. DIG — Risk / Return Rank
DGP
DIG
DGP vs. DIG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DB Gold Double Long Exchange Traded Notes (DGP) and ProShares Ultra Oil & Gas (DIG). 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.
| DGP | DIG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.31 | ||
| Sortino ratioReturn per unit of downside risk | -1.26 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.28 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 0.55 | 2.50 | -1.95 |
| Martin ratioReturn relative to average drawdown | 1.28 | 6.44 | -5.17 |
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Drawdowns
DGP vs. DIG - Drawdown Comparison
The maximum DGP drawdown since its inception was -75.31%, smaller than the maximum DIG drawdown of -97.04%. Use the drawdown chart below to compare losses from any high point for DGP and DIG.
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Drawdown Indicators
| DGP | DIG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -75.31% | -97.04% | +21.73% |
Max Drawdown (1Y)Largest decline over 1 year | -47.59% | -29.80% | -17.79% |
Max Drawdown (3Y)Largest decline over 3 years | -47.59% | -42.41% | -5.18% |
Max Drawdown (5Y)Largest decline over 5 years | -51.24% | -46.02% | -5.22% |
Max Drawdown (10Y)Largest decline over 10 years | -51.24% | -92.53% | +41.29% |
Current DrawdownCurrent decline from peak | -46.88% | -52.50% | +5.62% |
Average DrawdownAverage peak-to-trough decline | -41.10% | -64.30% | +23.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.63% | 11.56% | +9.07% |
Volatility
DGP vs. DIG - Volatility Comparison
DB Gold Double Long Exchange Traded Notes (DGP) has a higher volatility of 12.92% compared to ProShares Ultra Oil & Gas (DIG) at 12.04%. This indicates that DGP's price experiences larger fluctuations and is considered to be riskier than DIG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DGP | DIG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.92% | 12.04% | +0.88% |
Volatility (6M)Calculated over the trailing 6-month period | 48.56% | 33.13% | +15.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 55.64% | 41.94% | +13.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 39.60% | 51.25% | -11.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.41% | 57.81% | -22.40% |
DGP vs. DIG - Expense Ratio Comparison
DGP has a 0.75% expense ratio, which is lower than DIG's 0.95% expense ratio.
Dividends
DGP vs. DIG - Dividend Comparison
DGP has not paid dividends to shareholders, while DIG's dividend yield for the trailing twelve months is around 1.53%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DGP DB Gold Double Long Exchange Traded Notes | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
DIG ProShares Ultra Oil & Gas | 1.53% | 2.62% | 3.13% | 0.61% | 1.33% | 2.24% | 3.18% | 2.72% | 2.30% | 1.76% | 1.09% | 1.56% |
Frequently Asked Questions
DGP and DIG have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DGP has higher volatility (12.92%) compared to DIG (12.04%). In terms of maximum drawdown, DGP dropped -75.31% vs DIG's -97.04%.
On 10-year performance, DGP leads with 16.38% vs 4.46% for DIG. On fees, DGP is cheaper at 0.75% per year. On volatility, DIG has been the lower-risk option at 12.04%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DGP has performed better with a 16.38% return vs 4.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DGP is cheaper with a 0.75% expense ratio, compared with 0.95% for DIG.
DIG has the higher dividend yield at 1.53%, compared with 0.00% for DGP.
DGP is categorized as Leveraged Commodities, while DIG is Leveraged Equities. DGP tracks Deutsche Bank Liquid Commodity Index-Optimum Yield Gold (200%), while DIG tracks Dow Jones U.S. Oil & Gas Index (200%). They also come from different issuers: Deutsche Bank and ProShares. Their fees differ too: 0.75% for DGP and 0.95% for DIG.
DIG currently has the higher Sharpe Ratio (1.78 vs 0.47), 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.
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