DIG vs. DGP
DIG (ProShares Ultra Oil & Gas) and DGP (DB Gold Double Long Exchange Traded Notes) are both exchange-traded funds - DIG is a Leveraged Equities fund tracking the Dow Jones U.S. Oil & Gas Index (200%), while DGP is a Leveraged Commodities fund tracking the Deutsche Bank Liquid Commodity Index-Optimum Yield Gold (200%). Both are passively managed. Over the past 10 years, DIG returned 4.46%/yr vs 16.38%/yr for DGP. At a 0.12 correlation, their price movements are largely independent. DIG charges 0.95%/yr vs 0.75%/yr for DGP.
Performance
DIG vs. DGP - Performance Comparison
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Returns By Period
In the year-to-date period, DIG achieves a 62.13% return, which is significantly higher than DGP's -20.17% return. Over the past 10 years, DIG has underperformed DGP with an annualized return of 4.46%, while DGP has yielded a comparatively higher 16.38% annualized return.
DIG
- 1D
- 0.87%
- 1M
- 16.92%
- 6M
- 43.45%
- YTD
- 62.13%
- 1Y
- 74.21%
- 3Y*
- 17.88%
- 5Y*
- 33.41%
- 10Y*
- 4.46%
- ALL TIME*
- -0.17%
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%
DIG vs. DGP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DIG ProShares Ultra Oil & Gas | 62.13% | 2.73% | 0.93% | -13.04% | 125.34% | 115.63% | -70.36% | 12.51% | -40.11% | -7.39% |
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% |
Correlation
The correlation between DIG and DGP is -0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Feb 28, 2008 | 0.12 |
The correlation between DIG and DGP shifts across timeframes, from -0.03 (1 year) to 0.13 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
DIG vs. DGP — Risk / Return Rank
DIG
DGP
DIG vs. DGP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Oil & Gas (DIG) and DB Gold Double Long Exchange Traded Notes (DGP). 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.
| DIG | DGP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.31 | ||
| Sortino ratioReturn per unit of downside risk | +1.26 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.13 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 2.50 | 0.55 | +1.95 |
| Martin ratioReturn relative to average drawdown | 6.44 | 1.28 | +5.17 |
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Drawdowns
DIG vs. DGP - Drawdown Comparison
The maximum DIG drawdown since its inception was -97.04%, which is greater than DGP's maximum drawdown of -75.31%. Use the drawdown chart below to compare losses from any high point for DIG and DGP.
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Drawdown Indicators
| DIG | DGP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -97.04% | -75.31% | -21.73% |
Max Drawdown (1Y)Largest decline over 1 year | -29.80% | -47.59% | +17.79% |
Max Drawdown (3Y)Largest decline over 3 years | -42.41% | -47.59% | +5.18% |
Max Drawdown (5Y)Largest decline over 5 years | -46.02% | -51.24% | +5.22% |
Max Drawdown (10Y)Largest decline over 10 years | -92.53% | -51.24% | -41.29% |
Current DrawdownCurrent decline from peak | -52.50% | -46.88% | -5.62% |
Average DrawdownAverage peak-to-trough decline | -64.30% | -41.10% | -23.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.56% | 20.63% | -9.07% |
Volatility
DIG vs. DGP - Volatility Comparison
The current volatility for ProShares Ultra Oil & Gas (DIG) is 12.04%, while DB Gold Double Long Exchange Traded Notes (DGP) has a volatility of 12.92%. This indicates that DIG experiences smaller price fluctuations and is considered to be less risky than DGP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DIG | DGP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.04% | 12.92% | -0.88% |
Volatility (6M)Calculated over the trailing 6-month period | 33.13% | 48.56% | -15.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 41.94% | 55.64% | -13.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 51.25% | 39.60% | +11.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 57.81% | 35.41% | +22.40% |
DIG vs. DGP - Expense Ratio Comparison
DIG has a 0.95% expense ratio, which is higher than DGP's 0.75% expense ratio.
Dividends
DIG vs. DGP - Dividend Comparison
DIG's dividend yield for the trailing twelve months is around 1.53%, while DGP has not paid dividends to shareholders.
| 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% |
DIG ProShares Ultra Oil & Gas | 1.53% | 2.62% | 3.13% | 0.61% | 1.33% | 2.24% | 3.18% | 2.72% | 2.30% | 1.76% | 1.09% | 1.56% |
Frequently Asked Questions
DIG and DGP have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DGP has higher volatility (12.92%) compared to DIG (12.04%). In terms of maximum drawdown, DIG dropped -97.04% vs DGP's -75.31%.
On 10-year performance, DGP leads with 16.38% vs 4.46% for DIG. On fees, DGP is cheaper at 0.75% per year. On volatility, DIG has been the lower-risk option at 12.04%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DGP has performed better with a 16.38% return vs 4.46%. 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 DIG.
DIG has the higher dividend yield at 1.53%, compared with 0.00% for DGP.
DIG is categorized as Leveraged Equities, while DGP is Leveraged Commodities. DIG tracks Dow Jones U.S. Oil & Gas Index (200%), while DGP tracks Deutsche Bank Liquid Commodity Index-Optimum Yield Gold (200%). They also come from different issuers: ProShares and Deutsche Bank. Their fees differ too: 0.95% for DIG and 0.75% for DGP.
DIG currently has the higher Sharpe Ratio (1.78 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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