DGP vs. GLDW

Last updated Jun 25, 2026

DGP (DB Gold Double Long Exchange Traded Notes) and GLDW (Roundhill Gold WeeklyPay ETF) are both exchange-traded funds - DGP is a Leveraged Commodities fund tracking the Deutsche Bank Liquid Commodity Index-Optimum Yield Gold (200%), while GLDW is a Derivative Income fund actively managed by State Street. DGP is passively managed, while GLDW is actively managed. With a 0.97 correlation, they move nearly in lockstep. DGP charges 0.75%/yr vs 0.99%/yr for GLDW.

Performance

DGP vs. GLDW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DB Gold Double Long Exchange Traded Notes (DGP) and Roundhill Gold WeeklyPay ETF (GLDW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DGP achieves a -20.32% return, which is significantly lower than GLDW's -11.70% return.

DGP

• 1D: -6.73%
• 1M: -23.36%
• YTD: -20.32%
• 6M: -26.38%
• 1Y: 26.56%
• 3Y*: 46.51%
• 5Y*: 27.71%
• 10Y*: 16.43%

GLDW

• 1D: -3.89%
• 1M: -14.20%
• YTD: -11.70%
• 6M: -15.79%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DGP vs. GLDW - Yearly Performance Comparison

	2026 (YTD)	2025
DGP DB Gold Double Long Exchange Traded Notes	-20.32%	17.11%
GLDW Roundhill Gold WeeklyPay ETF	-11.70%	9.36%

Correlation

The correlation between DGP and GLDW is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 30, 2025	0.97

Return for Risk

DGP vs. GLDW — Risk / Return Rank

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

DGP

DGP Risk / Return Rank: 18
DGP Sharpe Ratio Rank: 17
DGP Sortino Ratio Rank: 19
DGP Omega Ratio Rank: 21
DGP Calmar Ratio Rank: 16
DGP Martin Ratio Rank: 17

GLDW

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

DGP vs. GLDW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DB Gold Double Long Exchange Traded Notes (DGP) and Roundhill Gold WeeklyPay ETF (GLDW). 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	GLDW	Difference
Sharpe ratio: Return per unit of total volatility	0.48	—	—
Sortino ratio: Return per unit of downside risk	0.98	—	—
Omega ratio: Gain probability vs. loss probability	1.14	—	—
Calmar ratio: Return relative to maximum drawdown	0.57	—	—
Martin ratio: Return relative to average drawdown	1.57	—	—

Drawdowns

DGP vs. GLDW - Drawdown Comparison

The maximum DGP drawdown since its inception was -75.31%, which is greater than GLDW's maximum drawdown of -32.25%. Use the drawdown chart below to compare losses from any high point for DGP and GLDW.

Drawdown Indicators

	DGP	GLDW	Difference
Max Drawdown Largest peak-to-trough decline	-75.31%	-32.25%	-43.06%
Max Drawdown (1Y) Largest decline over 1 year	-46.98%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-46.98%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-51.24%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-51.24%	—	—
Current Drawdown Current decline from peak	-46.98%	-32.25%	-14.73%
Average Drawdown Average peak-to-trough decline	-41.08%	-10.44%	-30.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.96%	—	—

Volatility

Volatility by Period

	DGP	GLDW	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.11%	—	—
Volatility (6M) Calculated over the trailing 6-month period	49.42%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	55.11%	37.38%	+17.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.39%	37.38%	+2.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.37%	37.38%	-2.01%

DGP vs. GLDW - Expense Ratio Comparison

DGP has a 0.75% expense ratio, which is lower than GLDW's 0.99% expense ratio.

Dividends

DGP vs. GLDW - Dividend Comparison

DGP has not paid dividends to shareholders, while GLDW's dividend yield for the trailing twelve months is around 24.03%.

Position	TTM	2025
DGP DB Gold Double Long Exchange Traded Notes	0.00%	0.00%
GLDW Roundhill Gold WeeklyPay ETF	24.03%	3.75%

Frequently Asked Questions

Can I hold both DGP and GLDW in my portfolio?

With a correlation of 0.97, DGP and GLDW move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, DGP or GLDW?

On fees, DGP is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DGP or GLDW?

DGP is cheaper with a 0.75% expense ratio, compared with 0.99% for GLDW.

Which ETF pays a higher dividend yield, DGP or GLDW?

GLDW has the higher dividend yield at 24.03%, compared with 0.00% for DGP.

What is the main difference between DGP and GLDW?

DGP is categorized as Leveraged Commodities, while GLDW is Derivative Income. They also come from different issuers: Deutsche Bank and State Street. Their fees differ too: 0.75% for DGP and 0.99% for GLDW.