DGP vs. USD
DGP (DB Gold Double Long Exchange Traded Notes) and USD (ProShares Ultra Semiconductors) are both exchange-traded funds - DGP is a Leveraged Commodities fund tracking the Deutsche Bank Liquid Commodity Index-Optimum Yield Gold (200%), while USD is a Leveraged Equities fund tracking the Dow Jones U.S. Semiconductors Index (200%). Both are passively managed. Over the past 10 years, DGP returned 16.38%/yr vs 55.50%/yr for USD. At a 0.03 correlation, their price movements are largely independent. DGP charges 0.75%/yr vs 0.95%/yr for USD.
Performance
DGP vs. USD - 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 USD's 58.94% return. Over the past 10 years, DGP has underperformed USD with an annualized return of 16.38%, while USD has yielded a comparatively higher 55.50% 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%
USD
- 1D
- 1.19%
- 1M
- -23.32%
- 6M
- 44.94%
- YTD
- 58.94%
- 1Y
- 100.99%
- 3Y*
- 97.07%
- 5Y*
- 57.89%
- 10Y*
- 55.50%
- ALL TIME*
- 28.48%
DGP vs. USD - 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% |
USD ProShares Ultra Semiconductors | 58.94% | 62.08% | 139.64% | 228.79% | -68.57% | 104.27% | 68.16% | 110.37% | -26.88% | 81.72% |
Correlation
The correlation between DGP and USD is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Feb 28, 2008 | 0.03 |
The correlation between DGP and USD shifts across timeframes, from 0.03 (all time) to 0.22 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
DGP vs. USD — Risk / Return Rank
DGP
USD
DGP vs. USD - 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 Semiconductors (USD). 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 | USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.95 | ||
| Sortino ratioReturn per unit of downside risk | -0.95 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.25 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 0.55 | 3.19 | -2.64 |
| Martin ratioReturn relative to average drawdown | 1.28 | 8.07 | -6.80 |
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Drawdowns
DGP vs. USD - Drawdown Comparison
The maximum DGP drawdown since its inception was -75.31%, smaller than the maximum USD drawdown of -88.63%. Use the drawdown chart below to compare losses from any high point for DGP and USD.
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Drawdown Indicators
| DGP | USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -75.31% | -88.63% | +13.32% |
Max Drawdown (1Y)Largest decline over 1 year | -47.59% | -31.80% | -15.79% |
Max Drawdown (3Y)Largest decline over 3 years | -47.59% | -64.46% | +16.87% |
Max Drawdown (5Y)Largest decline over 5 years | -51.24% | -77.85% | +26.61% |
Max Drawdown (10Y)Largest decline over 10 years | -51.24% | -77.85% | +26.61% |
Current DrawdownCurrent decline from peak | -46.88% | -26.57% | -20.31% |
Average DrawdownAverage peak-to-trough decline | -41.10% | -32.24% | -8.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.63% | 12.55% | +8.08% |
Volatility
DGP vs. USD - Volatility Comparison
The current volatility for DB Gold Double Long Exchange Traded Notes (DGP) is 12.92%, while ProShares Ultra Semiconductors (USD) has a volatility of 29.84%. This indicates that DGP experiences smaller price fluctuations and is considered to be less risky than USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DGP | USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.92% | 29.84% | -16.92% |
Volatility (6M)Calculated over the trailing 6-month period | 48.56% | 58.46% | -9.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 55.64% | 71.29% | -15.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 39.60% | 78.30% | -38.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.41% | 70.12% | -34.71% |
DGP vs. USD - Expense Ratio Comparison
DGP has a 0.75% expense ratio, which is lower than USD's 0.95% expense ratio.
Dividends
DGP vs. USD - Dividend Comparison
DGP has not paid dividends to shareholders, while USD's dividend yield for the trailing twelve months is around 0.36%.
| 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% |
USD ProShares Ultra Semiconductors | 0.36% | 0.39% | 0.10% | 0.05% | 0.30% | 0.00% | 0.14% | 0.72% | 0.93% | 0.32% | 0.46% | 0.39% |
Frequently Asked Questions
DGP and USD have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USD has higher volatility (29.84%) compared to DGP (12.92%). In terms of maximum drawdown, DGP dropped -75.31% vs USD's -88.63%.
On 10-year performance, USD leads with 55.50% vs 16.38% for DGP. On fees, DGP is cheaper at 0.75% per year. On volatility, DGP has been the lower-risk option at 12.92%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, USD has performed better with a 55.50% return vs 16.38%. 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 USD.
USD has the higher dividend yield at 0.36%, compared with 0.00% for DGP.
DGP is categorized as Leveraged Commodities, while USD is Leveraged Equities. DGP tracks Deutsche Bank Liquid Commodity Index-Optimum Yield Gold (200%), while USD tracks Dow Jones U.S. Semiconductors Index (200%). They also come from different issuers: Deutsche Bank and ProShares. Their fees differ too: 0.75% for DGP and 0.95% for USD.
USD currently has the higher Sharpe Ratio (1.43 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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