DULL vs. GMOM
DULL (MicroSectors Gold -3X Inverse Leveraged ETN) and GMOM (Cambria Global Momentum ETF) are both exchange-traded funds - DULL is a Inverse Commodities fund tracking the LBMA Gold Price PM ($/ozt) (-300%), while GMOM is a Momentum fund actively managed by Cambria. DULL is passively managed, while GMOM is actively managed. Over the past 3 years, DULL returned -58.83%/yr vs 12.32%/yr for GMOM. Their -0.46 correlation means they have often moved in opposite directions in the past. DULL charges 0.95%/yr vs 0.96%/yr for GMOM.
Performance
DULL vs. GMOM - Performance Comparison
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Returns By Period
In the year-to-date period, DULL achieves a -12.17% return, which is significantly lower than GMOM's 9.85% return.
DULL
- 1D
- -0.01%
- 1M
- 3.76%
- 6M
- 20.95%
- YTD
- -12.17%
- 1Y
- -61.47%
- 3Y*
- -58.83%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -56.11%
GMOM
- 1D
- -0.24%
- 1M
- 3.62%
- 6M
- 2.60%
- YTD
- 9.85%
- 1Y
- 25.41%
- 3Y*
- 12.32%
- 5Y*
- 7.61%
- 10Y*
- 7.09%
- ALL TIME*
- 5.80%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $408.60K | $774.21K | $681.81K | |
| $379.87K | $324.02K | $259.18K |
DULL vs. GMOM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
DULL MicroSectors Gold -3X Inverse Leveraged ETN | -12.17% | -80.59% | -51.68% | -28.84% |
GMOM Cambria Global Momentum ETF | 9.85% | 20.63% | 6.75% | 1.66% |
Correlation
The correlation between DULL and GMOM is -0.66, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.66 |
Correlation (3Y) Balances recent behavior with more history. | -0.48 |
Correlation (All Time) Calculated using the full available price history since Feb 22, 2023 | -0.46 |
The correlation between DULL and GMOM shifts across timeframes, from -0.66 (1 year) to -0.46 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
DULL vs. GMOM — Risk / Return Rank
DULL
GMOM
DULL vs. GMOM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MicroSectors Gold -3X Inverse Leveraged ETN (DULL) and Cambria Global Momentum ETF (GMOM). 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.
| DULL | GMOM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.48 | ||
| Sortino ratioReturn per unit of downside risk | -3.46 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 1.31 | -0.44 |
| Calmar ratioReturn relative to maximum drawdown | -0.76 | 2.67 | -3.43 |
| Martin ratioReturn relative to average drawdown | -1.02 | 8.02 | -9.04 |
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Drawdowns
DULL vs. GMOM - Drawdown Comparison
The maximum DULL drawdown since its inception was -97.12%, which is greater than GMOM's maximum drawdown of -25.03%. Use the drawdown chart below to compare losses from any high point for DULL and GMOM.
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Drawdown Indicators
| DULL | GMOM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -97.12% | -25.03% | -72.09% |
Max Drawdown (1Y)Largest decline over 1 year | -81.20% | -9.57% | -71.63% |
Max Drawdown (3Y)Largest decline over 3 years | -97.12% | -13.73% | -83.39% |
Max Drawdown (5Y)Largest decline over 5 years | — | -19.16% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -25.03% | — |
Current DrawdownCurrent decline from peak | -94.33% | -3.58% | -90.75% |
Average DrawdownAverage peak-to-trough decline | -60.91% | -7.77% | -53.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 60.53% | 3.18% | +57.35% |
Volatility
DULL vs. GMOM - Volatility Comparison
MicroSectors Gold -3X Inverse Leveraged ETN (DULL) has a higher volatility of 17.41% compared to Cambria Global Momentum ETF (GMOM) at 3.37%. This indicates that DULL's price experiences larger fluctuations and is considered to be riskier than GMOM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DULL | GMOM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.41% | 3.37% | +14.04% |
Volatility (6M)Calculated over the trailing 6-month period | 62.40% | 11.31% | +51.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 82.72% | 14.73% | +67.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 59.09% | 14.37% | +44.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 59.09% | 12.94% | +46.15% |
DULL vs. GMOM - Expense Ratio Comparison
DULL has a 0.95% expense ratio, which is lower than GMOM's 0.96% expense ratio.
Dividends
DULL vs. GMOM - Dividend Comparison
DULL has not paid dividends to shareholders, while GMOM's dividend yield for the trailing twelve months is around 1.49%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DULL MicroSectors Gold -3X Inverse Leveraged ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
GMOM Cambria Global Momentum ETF | 1.49% | 3.01% | 2.16% | 3.63% | 2.52% | 3.42% | 1.24% | 2.60% | 1.90% | 2.05% | 1.77% | 1.88% |
Frequently Asked Questions
DULL and GMOM have a correlation of -0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DULL has higher volatility (17.41%) compared to GMOM (3.37%). In terms of maximum drawdown, DULL dropped -97.12% vs GMOM's -25.03%.
On 3-year performance, GMOM leads with 12.32% vs -58.83% for DULL. On fees, DULL is cheaper at 0.95% per year. On volatility, GMOM has been the lower-risk option at 3.37%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, GMOM has performed better with a 12.32% return vs -58.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DULL is cheaper with a 0.95% expense ratio, compared with 0.96% for GMOM.
GMOM has the higher dividend yield at 1.49%, compared with 0.00% for DULL.
DULL is categorized as Inverse Commodities, while GMOM is Momentum. They also come from different issuers: REX and Cambria. Their fees differ too: 0.95% for DULL and 0.96% for GMOM.
GMOM currently has the higher Sharpe Ratio (1.74 vs -0.75), 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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