DRIP vs. GLL
DRIP (Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares) and GLL (ProShares UltraShort Gold) are both exchange-traded funds - DRIP is a Leveraged Equities fund tracking the S&P Oil & Gas Exploration & Production Select Industry Index (-300%), while GLL is a Leveraged Commodities fund tracking the Bloomberg Gold (-200%). Both are passively managed. Over the past 10 years, DRIP returned -42.61%/yr vs -20.82%/yr for GLL. Their 0.04 correlation means their historical movements had little consistent relationship. DRIP charges 1.07%/yr vs 0.95%/yr for GLL.
Performance
DRIP vs. GLL - Performance Comparison
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Returns By Period
In the year-to-date period, DRIP achieves a -53.72% return, which is significantly lower than GLL's 1.26% return. Over the past 10 years, DRIP has underperformed GLL with an annualized return of -42.61%, while GLL has yielded a comparatively higher -20.82% annualized return.
DRIP
- 1D
- 3.59%
- 1M
- -22.42%
- 6M
- -46.02%
- YTD
- -53.72%
- 1Y
- -57.86%
- 3Y*
- -24.65%
- 5Y*
- -45.76%
- 10Y*
- -42.61%
- ALL TIME*
- -41.99%
GLL
- 1D
- -0.08%
- 1M
- 3.32%
- 6M
- 23.22%
- YTD
- 1.26%
- 1Y
- -39.18%
- 3Y*
- -38.64%
- 5Y*
- -27.51%
- 10Y*
- -20.82%
- ALL TIME*
- -21.77%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $16.92M | $63.12M | $132.02M | |
| $40.14M | $37.19M | $59.19M |
DRIP vs. GLL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DRIP Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares | -53.72% | -14.81% | 1.27% | -17.24% | -73.57% | -79.74% | -42.76% | -36.11% | 49.62% | -9.05% |
GLL ProShares UltraShort Gold | 1.26% | -62.81% | -33.33% | -14.91% | -2.12% | 1.66% | -41.47% | -26.95% | 5.39% | -23.67% |
Correlation
The correlation between DRIP and GLL is -0.00, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.00 |
Correlation (3Y) Balances recent behavior with more history. | 0.10 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.12 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.05 |
Correlation (All Time) Calculated using the full available price history since May 29, 2015 | 0.04 |
The correlation between DRIP and GLL shifts across timeframes, from -0.00 (1 year) to 0.12 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
DRIP vs. GLL — Risk / Return Rank
DRIP
GLL
DRIP vs. GLL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP) 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.
| DRIP | GLL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.31 | ||
| Sortino ratioReturn per unit of downside risk | -0.78 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 0.89 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | -0.93 | -0.61 | -0.32 |
| Martin ratioReturn relative to average drawdown | -1.52 | -0.89 | -0.63 |
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Drawdowns
DRIP vs. GLL - Drawdown Comparison
The maximum DRIP drawdown since its inception was -99.95%, roughly equal to the maximum GLL drawdown of -99.24%. Use the drawdown chart below to compare losses from any high point for DRIP and GLL.
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Drawdown Indicators
| DRIP | GLL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.95% | -99.24% | -0.71% |
Max Drawdown (1Y)Largest decline over 1 year | -62.18% | -64.23% | +2.05% |
Max Drawdown (3Y)Largest decline over 3 years | -76.02% | -87.95% | +11.93% |
Max Drawdown (5Y)Largest decline over 5 years | -96.24% | -89.76% | -6.48% |
Max Drawdown (10Y)Largest decline over 10 years | -99.92% | -95.76% | -4.16% |
Current DrawdownCurrent decline from peak | -99.94% | -98.74% | -1.20% |
Average DrawdownAverage peak-to-trough decline | -90.56% | -85.24% | -5.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 38.17% | 44.13% | -5.96% |
Volatility
DRIP vs. GLL - Volatility Comparison
Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP) has a higher volatility of 17.47% compared to ProShares UltraShort Gold (GLL) at 11.92%. This indicates that DRIP's price experiences larger fluctuations and is considered to be riskier 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
| DRIP | GLL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.47% | 11.92% | +5.55% |
Volatility (6M)Calculated over the trailing 6-month period | 44.98% | 41.51% | +3.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 56.84% | 55.36% | +1.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 67.64% | 36.89% | +30.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 95.72% | 32.49% | +63.23% |
DRIP vs. GLL - Expense Ratio Comparison
DRIP has a 1.07% expense ratio, which is higher than GLL's 0.95% expense ratio.
Dividends
DRIP vs. GLL - Dividend Comparison
DRIP's dividend yield for the trailing twelve months is around 3.84%, while GLL has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DRIP Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares | 3.84% | 2.86% | 4.38% | 5.09% | 0.00% | 0.00% | 0.01% | 0.96% | 0.58% |
GLL ProShares UltraShort Gold | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DRIP and GLL have a correlation of -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DRIP has higher volatility (17.47%) compared to GLL (11.92%). In terms of maximum drawdown, DRIP dropped -99.95% vs GLL's -99.24%.
On 10-year performance, GLL leads with -20.82% vs -42.61% for DRIP. On fees, GLL is cheaper at 0.95% per year. On volatility, GLL has been the lower-risk option at 11.92%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, GLL has performed better with a -20.82% return vs -42.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GLL is cheaper with a 0.95% expense ratio, compared with 1.07% for DRIP.
DRIP has the higher dividend yield at 3.84%, compared with 0.00% for GLL.
DRIP is categorized as Leveraged Equities, while GLL is Leveraged Commodities. DRIP tracks S&P Oil & Gas Exploration & Production Select Industry Index (-300%), while GLL tracks Bloomberg Gold (-200%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.07% for DRIP and 0.95% for GLL.
GLL currently has the higher Sharpe Ratio (-0.71 vs -1.02), 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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