EDGH vs. GLL
EDGH (3EDGE Dynamic Hard Assets ETF) and GLL (ProShares UltraShort Gold) are both exchange-traded funds - EDGH is a Commodities fund actively managed by 3EDGE Asset Management, while GLL is a Leveraged Commodities fund tracking the Bloomberg Gold (-200%). EDGH is actively managed, while GLL is passively managed. Over the past year, EDGH returned 31.24% vs -48.24% for GLL. At a correlation of -0.89, they often move in opposite directions. EDGH charges 1.01%/yr vs 0.95%/yr for GLL.
Performance
EDGH vs. GLL - Performance Comparison
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Returns By Period
In the year-to-date period, EDGH achieves a 12.49% return, which is significantly higher than GLL's -14.49% return.
EDGH
- 1D
- -0.45%
- 1M
- -1.84%
- YTD
- 12.49%
- 6M
- 14.30%
- 1Y
- 31.24%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GLL
- 1D
- 2.05%
- 1M
- 3.37%
- YTD
- -14.49%
- 6M
- -18.72%
- 1Y
- -48.24%
- 3Y*
- -41.46%
- 5Y*
- -28.82%
- 10Y*
- -23.37%
EDGH vs. GLL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
EDGH 3EDGE Dynamic Hard Assets ETF | 12.49% | 28.98% | -1.99% |
GLL ProShares UltraShort Gold | -14.49% | -62.81% | 3.32% |
Correlation
The correlation between EDGH and GLL is -0.86, 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 | -0.86 |
Correlation (All Time) Calculated using the full available price history since Oct 4, 2024 | -0.89 |
The correlation between EDGH and GLL has been stable across timeframes, ranging from -0.89 to -0.86 - a consistent structural relationship.
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Return for Risk
EDGH vs. GLL — Risk / Return Rank
EDGH
GLL
EDGH vs. GLL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for 3EDGE Dynamic Hard Assets ETF (EDGH) 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.
| EDGH | GLL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.70 | ||
| Sortino ratioReturn per unit of downside risk | +3.65 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 0.83 | +0.53 |
| Calmar ratioReturn relative to maximum drawdown | 2.96 | -0.74 | +3.70 |
| Martin ratioReturn relative to average drawdown | 9.70 | -1.16 | +10.86 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| EDGH | GLL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.77 | -0.92 | +2.70 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.81 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.73 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.53 | -0.67 | +2.20 |
Drawdowns
EDGH vs. GLL - Drawdown Comparison
The maximum EDGH drawdown since its inception was -10.60%, smaller than the maximum GLL drawdown of -99.24%. Use the drawdown chart below to compare losses from any high point for EDGH and GLL.
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Drawdown Indicators
| EDGH | GLL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.60% | -99.24% | +88.64% |
Max Drawdown (1Y)Largest decline over 1 year | -10.60% | -65.10% | +54.50% |
Max Drawdown (3Y)Largest decline over 3 years | — | -87.95% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -89.76% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -95.76% | — |
Current DrawdownCurrent decline from peak | -4.80% | -98.94% | +94.14% |
Average DrawdownAverage peak-to-trough decline | -2.04% | -85.13% | +83.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.23% | 41.74% | -38.51% |
Volatility
EDGH vs. GLL - Volatility Comparison
The current volatility for 3EDGE Dynamic Hard Assets ETF (EDGH) is 3.01%, while ProShares UltraShort Gold (GLL) has a volatility of 11.07%. This indicates that EDGH 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
| EDGH | GLL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.01% | 11.07% | -8.06% |
Volatility (6M)Calculated over the trailing 6-month period | 14.72% | 44.43% | -29.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.72% | 52.38% | -34.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.60% | 35.90% | -20.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.60% | 32.12% | -16.52% |
EDGH vs. GLL - Expense Ratio Comparison
EDGH has a 1.01% expense ratio, which is higher than GLL's 0.95% expense ratio.
Dividends
EDGH vs. GLL - Dividend Comparison
EDGH's dividend yield for the trailing twelve months is around 1.05%, while GLL has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
EDGH 3EDGE Dynamic Hard Assets ETF | 1.05% | 1.18% | 3.19% |
GLL ProShares UltraShort Gold | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EDGH and GLL have a correlation of -0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GLL has higher volatility (11.07%) compared to EDGH (3.01%). In terms of maximum drawdown, EDGH dropped -10.60% vs GLL's -99.24%.
On 1-year performance, EDGH leads with 31.24% vs -48.24% for GLL. On fees, GLL is cheaper at 0.95% per year. On volatility, EDGH has been the lower-risk option at 3.01%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, EDGH has performed better with a 31.24% return vs -48.24%. 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 1.01% for EDGH.
EDGH has the higher dividend yield at 1.05%, compared with 0.00% for GLL.
EDGH is categorized as Commodities, while GLL is Leveraged Commodities. They also come from different issuers: 3EDGE Asset Management and ProShares. Their fees differ too: 1.01% for EDGH and 0.95% for GLL.
EDGH currently has the higher Sharpe Ratio (1.77 vs -0.92), 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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