DIA vs. GLL
DIA (State Street SPDR Dow Jones Industrial Average ETF Trust) and GLL (ProShares UltraShort Gold) are both exchange-traded funds - DIA is a Large Cap Blend Equities fund tracking the Dow Jones Industrial Average, while GLL is a Leveraged Commodities fund tracking the Bloomberg Gold (-200%). Both are passively managed. Over the past 10 years, DIA returned 13.40%/yr vs -22.08%/yr for GLL. At a correlation of -0.04, they often move in opposite directions. DIA charges 0.16%/yr vs 0.95%/yr for GLL.
Performance
DIA vs. GLL - Performance Comparison
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Returns By Period
In the year-to-date period, DIA achieves a 7.27% return, which is significantly higher than GLL's -5.47% return. Over the past 10 years, DIA has outperformed GLL with an annualized return of 13.40%, while GLL has yielded a comparatively lower -22.08% annualized return.
DIA
- 1D
- 0.73%
- 1M
- 3.57%
- YTD
- 7.27%
- 6M
- 6.43%
- 1Y
- 23.20%
- 3Y*
- 16.29%
- 5Y*
- 10.14%
- 10Y*
- 13.40%
GLL
- 1D
- 0.00%
- 1M
- 21.41%
- YTD
- -5.47%
- 6M
- -6.08%
- 1Y
- -40.15%
- 3Y*
- -39.64%
- 5Y*
- -27.61%
- 10Y*
- -22.08%
DIA vs. GLL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DIA State Street SPDR Dow Jones Industrial Average ETF Trust | 7.27% | 14.71% | 14.82% | 16.02% | -7.02% | 20.83% | 9.59% | 24.70% | -3.74% | 28.08% |
GLL ProShares UltraShort Gold | -5.47% | -62.81% | -33.33% | -14.91% | -2.12% | 1.66% | -41.47% | -26.95% | 5.39% | -23.67% |
Correlation
The correlation between DIA and GLL is -0.22, 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 | -0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.12 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.03 |
Correlation (All Time) Calculated using the full available price history since Dec 3, 2008 | -0.04 |
The correlation between DIA and GLL shifts across timeframes, from -0.22 (1 year) to -0.03 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
DIA vs. GLL — Risk / Return Rank
DIA
GLL
DIA vs. GLL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street SPDR Dow Jones Industrial Average ETF Trust (DIA) and ProShares UltraShort Gold (GLL). 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.
| DIA | GLL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.46 | ||
| Sortino ratioReturn per unit of downside risk | +3.58 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 0.87 | +0.42 |
| Calmar ratioReturn relative to maximum drawdown | 2.16 | -0.64 | +2.80 |
| Martin ratioReturn relative to average drawdown | 8.35 | -0.98 | +9.33 |
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Drawdowns
DIA vs. GLL - Drawdown Comparison
The maximum DIA drawdown since its inception was -51.87%, smaller than the maximum GLL drawdown of -99.24%. Use the drawdown chart below to compare losses from any high point for DIA and GLL.
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Drawdown Indicators
| DIA | GLL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.87% | -99.24% | +47.37% |
Max Drawdown (1Y)Largest decline over 1 year | -9.76% | -65.10% | +55.34% |
Max Drawdown (3Y)Largest decline over 3 years | -15.95% | -87.95% | +72.00% |
Max Drawdown (5Y)Largest decline over 5 years | -20.76% | -89.76% | +69.00% |
Max Drawdown (10Y)Largest decline over 10 years | -36.70% | -95.76% | +59.06% |
Current DrawdownCurrent decline from peak | -0.70% | -98.83% | +98.13% |
Average DrawdownAverage peak-to-trough decline | -7.14% | -85.13% | +77.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.53% | 42.47% | -39.94% |
Volatility
DIA vs. GLL - Volatility Comparison
The current volatility for State Street SPDR Dow Jones Industrial Average ETF Trust (DIA) is 4.32%, while ProShares UltraShort Gold (GLL) has a volatility of 15.23%. This indicates that DIA experiences smaller price fluctuations and is considered to be less risky than GLL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DIA | GLL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.32% | 15.23% | -10.91% |
Volatility (6M)Calculated over the trailing 6-month period | 9.78% | 46.29% | -36.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.52% | 53.94% | -41.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.85% | 36.34% | -21.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.56% | 32.38% | -14.82% |
DIA vs. GLL - Expense Ratio Comparison
DIA has a 0.16% expense ratio, which is lower than GLL's 0.95% expense ratio.
Dividends
DIA vs. GLL - Dividend Comparison
DIA's dividend yield for the trailing twelve months is around 1.37%, while GLL has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DIA State Street SPDR Dow Jones Industrial Average ETF Trust | 1.37% | 1.43% | 1.61% | 1.81% | 1.91% | 1.58% | 1.87% | 1.85% | 2.24% | 1.97% | 2.26% | 2.33% |
GLL ProShares UltraShort Gold | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DIA and GLL 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.
GLL has higher volatility (15.23%) compared to DIA (4.32%). In terms of maximum drawdown, DIA dropped -51.87% vs GLL's -99.24%.
On 10-year performance, DIA leads with 13.40% vs -22.08% for GLL. On fees, DIA is cheaper at 0.16% per year. On volatility, DIA has been the lower-risk option at 4.32%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DIA has performed better with a 13.40% return vs -22.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DIA is cheaper with a 0.16% expense ratio, compared with 0.95% for GLL.
DIA has the higher dividend yield at 1.37%, compared with 0.00% for GLL.
DIA is categorized as Large Cap Blend Equities, while GLL is Leveraged Commodities. DIA tracks Dow Jones Industrial Average, while GLL tracks Bloomberg Gold (-200%). They also come from different issuers: State Street and ProShares. Their fees differ too: 0.16% for DIA and 0.95% for GLL.
DIA currently has the higher Sharpe Ratio (1.69 vs -0.78), 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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