DGZ vs. EDGH
DGZ (DB Gold Short Exchange Traded Notes) and EDGH (3EDGE Dynamic Hard Assets ETF) are both exchange-traded funds - DGZ is a Inverse Commodities fund tracking the Deutsche Bank Liquid Commodity Index - Optimum Yield Gold Excess Return (-100%), while EDGH is a Commodities fund actively managed by 3EDGE Asset Management. DGZ is passively managed, while EDGH is actively managed. Over the past year, DGZ returned -7.69% vs 21.58% for EDGH. At a correlation of -0.43, they often move in opposite directions. DGZ charges 0.75%/yr vs 1.01%/yr for EDGH.
Performance
DGZ vs. EDGH - Performance Comparison
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Returns By Period
In the year-to-date period, DGZ achieves a 13.79% return, which is significantly higher than EDGH's 5.36% return.
DGZ
- 1D
- 4.60%
- 1M
- 27.91%
- YTD
- 13.79%
- 6M
- 21.33%
- 1Y
- -7.69%
- 3Y*
- -14.24%
- 5Y*
- -9.28%
- 10Y*
- -7.12%
EDGH
- 1D
- -1.05%
- 1M
- -7.26%
- YTD
- 5.36%
- 6M
- 3.21%
- 1Y
- 21.58%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DGZ vs. EDGH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
DGZ DB Gold Short Exchange Traded Notes | 13.79% | -32.55% | -3.21% |
EDGH 3EDGE Dynamic Hard Assets ETF | 5.36% | 28.98% | -1.97% |
Correlation
The correlation between DGZ and EDGH is -0.41, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.41 |
Correlation (All Time) Calculated using the full available price history since Oct 3, 2024 | -0.43 |
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Return for Risk
DGZ vs. EDGH — Risk / Return Rank
DGZ
EDGH
DGZ vs. EDGH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DB Gold Short Exchange Traded Notes (DGZ) and 3EDGE Dynamic Hard Assets ETF (EDGH). 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.
| DGZ | EDGH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.31 | ||
| Sortino ratioReturn per unit of downside risk | -1.19 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.25 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | -0.20 | 2.00 | -2.20 |
| Martin ratioReturn relative to average drawdown | -0.35 | 5.80 | -6.15 |
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Drawdowns
DGZ vs. EDGH - Drawdown Comparison
The maximum DGZ drawdown since its inception was -86.32%, which is greater than EDGH's maximum drawdown of -10.83%. Use the drawdown chart below to compare losses from any high point for DGZ and EDGH.
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Drawdown Indicators
| DGZ | EDGH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -86.32% | -10.83% | -75.49% |
Max Drawdown (1Y)Largest decline over 1 year | -38.32% | -10.83% | -27.49% |
Max Drawdown (3Y)Largest decline over 3 years | -59.54% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -61.54% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -71.49% | — | — |
Current DrawdownCurrent decline from peak | -80.51% | -10.83% | -69.68% |
Average DrawdownAverage peak-to-trough decline | -57.80% | -2.23% | -55.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.24% | 3.74% | +18.50% |
Volatility
DGZ vs. EDGH - Volatility Comparison
DB Gold Short Exchange Traded Notes (DGZ) has a higher volatility of 45.91% compared to 3EDGE Dynamic Hard Assets ETF (EDGH) at 3.41%. This indicates that DGZ's price experiences larger fluctuations and is considered to be riskier than EDGH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DGZ | EDGH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 45.91% | 3.41% | +42.50% |
Volatility (6M)Calculated over the trailing 6-month period | 58.66% | 15.10% | +43.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 69.62% | 18.02% | +51.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.50% | 15.59% | +20.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.17% | 15.59% | +12.58% |
DGZ vs. EDGH - Expense Ratio Comparison
DGZ has a 0.75% expense ratio, which is lower than EDGH's 1.01% expense ratio.
Dividends
DGZ vs. EDGH - Dividend Comparison
DGZ has not paid dividends to shareholders, while EDGH's dividend yield for the trailing twelve months is around 1.12%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
DGZ DB Gold Short Exchange Traded Notes | 0.00% | 0.00% | 0.00% |
EDGH 3EDGE Dynamic Hard Assets ETF | 1.12% | 1.18% | 3.19% |
Frequently Asked Questions
DGZ and EDGH have a correlation of -0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DGZ has higher volatility (45.91%) compared to EDGH (3.41%). In terms of maximum drawdown, DGZ dropped -86.32% vs EDGH's -10.83%.
On 1-year performance, EDGH leads with 21.58% vs -7.69% for DGZ. On fees, DGZ is cheaper at 0.75% per year. On volatility, EDGH has been the lower-risk option at 3.41%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, EDGH has performed better with a 21.58% return vs -7.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DGZ is cheaper with a 0.75% expense ratio, compared with 1.01% for EDGH.
EDGH has the higher dividend yield at 1.12%, compared with 0.00% for DGZ.
DGZ is categorized as Inverse Commodities, while EDGH is Commodities. They also come from different issuers: Deutsche Bank and 3EDGE Asset Management. Their fees differ too: 0.75% for DGZ and 1.01% for EDGH.
EDGH currently has the higher Sharpe Ratio (1.20 vs -0.11), 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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