FGDL vs. USL
Compare and contrast key facts about Franklin Responsibly Sourced Gold ETF (FGDL) and United States 12 Month Oil Fund LP (USL).
FGDL and USL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FGDL is a passively managed fund by Franklin Templeton that tracks the performance of the LBMA Gold Price PM ($/ozt). It was launched on Jun 30, 2022. USL is a passively managed fund by Concierge Technologies that tracks the performance of the 12 Month Light Sweet Crude Oil. It was launched on Dec 6, 2007. Both FGDL and USL are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
FGDL vs. USL - Performance Comparison
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FGDL vs. USL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
FGDL Franklin Responsibly Sourced Gold ETF | 7.93% | 64.15% | 27.31% | 12.92% | 0.91% |
USL United States 12 Month Oil Fund LP | 44.67% | -12.37% | 8.30% | -1.11% | -10.26% |
Returns By Period
In the year-to-date period, FGDL achieves a 7.93% return, which is significantly lower than USL's 44.67% return.
FGDL
- 1D
- 3.39%
- 1M
- -11.22%
- YTD
- 7.93%
- 6M
- 20.34%
- 1Y
- 48.63%
- 3Y*
- 33.11%
- 5Y*
- —
- 10Y*
- —
USL
- 1D
- -4.21%
- 1M
- 25.68%
- YTD
- 44.67%
- 6M
- 35.39%
- 1Y
- 26.16%
- 3Y*
- 12.64%
- 5Y*
- 17.35%
- 10Y*
- 11.83%
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FGDL vs. USL - Expense Ratio Comparison
FGDL has a 0.15% expense ratio, which is lower than USL's 0.88% expense ratio.
Return for Risk
FGDL vs. USL — Risk / Return Rank
FGDL
USL
FGDL vs. USL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Responsibly Sourced Gold ETF (FGDL) and United States 12 Month Oil Fund LP (USL). 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.
| FGDL | USL | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.75 | 0.92 | +0.83 |
Sortino ratioReturn per unit of downside risk | 2.16 | 1.37 | +0.79 |
Omega ratioGain probability vs. loss probability | 1.32 | 1.17 | +0.14 |
Calmar ratioReturn relative to maximum drawdown | 2.64 | 1.72 | +0.92 |
Martin ratioReturn relative to average drawdown | 9.52 | 3.06 | +6.46 |
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
| FGDL | USL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.75 | 0.92 | +0.83 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.59 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.37 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.52 | -0.01 | +1.53 |
Correlation
The correlation between FGDL and USL is 0.17, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
FGDL vs. USL - Dividend Comparison
Neither FGDL nor USL has paid dividends to shareholders.
Drawdowns
FGDL vs. USL - Drawdown Comparison
The maximum FGDL drawdown since its inception was -19.23%, smaller than the maximum USL drawdown of -89.06%. Use the drawdown chart below to compare losses from any high point for FGDL and USL.
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Drawdown Indicators
| FGDL | USL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.23% | -89.06% | +69.83% |
Max Drawdown (1Y)Largest decline over 1 year | -19.23% | -17.26% | -1.97% |
Max Drawdown (5Y)Largest decline over 5 years | — | -33.82% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -66.02% | — |
Current DrawdownCurrent decline from peak | -13.76% | -45.13% | +31.37% |
Average DrawdownAverage peak-to-trough decline | -3.34% | -61.65% | +58.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.33% | 9.70% | -4.37% |
Volatility
FGDL vs. USL - Volatility Comparison
The current volatility for Franklin Responsibly Sourced Gold ETF (FGDL) is 10.75%, while United States 12 Month Oil Fund LP (USL) has a volatility of 12.82%. This indicates that FGDL experiences smaller price fluctuations and is considered to be less risky than USL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FGDL | USL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.75% | 12.82% | -2.07% |
Volatility (6M)Calculated over the trailing 6-month period | 24.37% | 20.34% | +4.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.00% | 28.76% | -0.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.96% | 29.77% | -10.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.96% | 32.24% | -13.28% |