Correlation
The correlation between DGZ and GLD is 0.04, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
DGZ vs. GLD
Compare and contrast key facts about DB Gold Short Exchange Traded Notes (DGZ) and SPDR Gold Trust (GLD).
DGZ and GLD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. DGZ is a passively managed fund by Deutsche Bank that tracks the performance of the Deutsche Bank Liquid Commodity Index - Optimum Yield Gold Excess Return (-100%). It was launched on Feb 27, 2008. GLD is a passively managed fund by State Street that tracks the performance of the Gold Bullion. It was launched on Nov 18, 2004. Both DGZ and GLD are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: DGZ or GLD.
Performance
DGZ vs. GLD - Performance Comparison
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Key characteristics
DGZ:
-0.94
GLD:
2.26
DGZ:
-1.17
GLD:
2.95
DGZ:
0.87
GLD:
1.37
DGZ:
-0.31
GLD:
4.82
DGZ:
-1.73
GLD:
13.13
DGZ:
14.07%
GLD:
2.98%
DGZ:
28.52%
GLD:
17.88%
DGZ:
-79.59%
GLD:
-45.56%
DGZ:
-79.13%
GLD:
-3.80%
Returns By Period
In the year-to-date period, DGZ achieves a -17.83% return, which is significantly lower than GLD's 25.39% return. Over the past 10 years, DGZ has underperformed GLD with an annualized return of -7.81%, while GLD has yielded a comparatively higher 10.25% annualized return.
DGZ
-17.83%
-2.01%
-18.81%
-26.59%
-11.90%
-8.95%
-7.81%
GLD
25.39%
-0.06%
23.62%
40.19%
21.06%
13.26%
10.25%
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DGZ vs. GLD - Expense Ratio Comparison
DGZ has a 0.75% expense ratio, which is higher than GLD's 0.40% expense ratio.
Risk-Adjusted Performance
DGZ vs. GLD — Risk-Adjusted Performance Rank
DGZ
GLD
DGZ vs. GLD - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for DB Gold Short Exchange Traded Notes (DGZ) and SPDR Gold Trust (GLD). 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.
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Dividends
DGZ vs. GLD - Dividend Comparison
Neither DGZ nor GLD has paid dividends to shareholders.
Drawdowns
DGZ vs. GLD - Drawdown Comparison
The maximum DGZ drawdown since its inception was -79.59%, which is greater than GLD's maximum drawdown of -45.56%. Use the drawdown chart below to compare losses from any high point for DGZ and GLD.
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Volatility
DGZ vs. GLD - Volatility Comparison
DB Gold Short Exchange Traded Notes (DGZ) has a higher volatility of 11.14% compared to SPDR Gold Trust (GLD) at 7.88%. This indicates that DGZ's price experiences larger fluctuations and is considered to be riskier than GLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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