GDE vs. GLL
GDE (WisdomTree Efficient Gold Plus Equity Strategy Fund) and GLL (ProShares UltraShort Gold) are both exchange-traded funds - GDE is a Gold fund actively managed by WisdomTree, while GLL is a Leveraged Commodities fund tracking the Bloomberg Gold (-200%). GDE is actively managed, while GLL is passively managed. Over the past 3 years, GDE returned 40.14%/yr vs -38.64%/yr for GLL. Their -0.74 correlation means they have often moved in opposite directions in the past. GDE charges 0.20%/yr vs 0.95%/yr for GLL.
Performance
GDE vs. GLL - Performance Comparison
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Returns By Period
In the year-to-date period, GDE achieves a 0.83% return, which is significantly lower than GLL's 1.26% return.
GDE
- 1D
- 1.69%
- 1M
- 0.11%
- 6M
- -6.46%
- YTD
- 0.83%
- 1Y
- 35.63%
- 3Y*
- 40.14%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 29.51%
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) |
|---|---|---|---|
| $5.45M | $8.45M | $9.78M | |
| $40.14M | $37.19M | $59.19M |
GDE vs. GLL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
GDE WisdomTree Efficient Gold Plus Equity Strategy Fund | 0.83% | 73.76% | 44.79% | 33.85% | -8.58% |
GLL ProShares UltraShort Gold | 1.26% | -62.81% | -33.33% | -14.91% | 10.92% |
Correlation
The correlation between GDE and GLL is -0.88, 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. | -0.88 |
Correlation (3Y) Balances recent behavior with more history. | -0.78 |
Correlation (All Time) Calculated using the full available price history since Mar 17, 2022 | -0.74 |
The correlation between GDE and GLL shifts across timeframes, from -0.88 (1 year) to -0.74 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
GDE vs. GLL — Risk / Return Rank
GDE
GLL
GDE vs. GLL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Efficient Gold Plus Equity Strategy Fund (GDE) 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.
| GDE | GLL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.86 | ||
| Sortino ratioReturn per unit of downside risk | +2.52 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 0.89 | +0.32 |
| Calmar ratioReturn relative to maximum drawdown | 1.58 | -0.61 | +2.19 |
| Martin ratioReturn relative to average drawdown | 3.45 | -0.89 | +4.33 |
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Drawdowns
GDE vs. GLL - Drawdown Comparison
The maximum GDE drawdown since its inception was -32.01%, smaller than the maximum GLL drawdown of -99.24%. Use the drawdown chart below to compare losses from any high point for GDE and GLL.
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Drawdown Indicators
| GDE | GLL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.01% | -99.24% | +67.23% |
Max Drawdown (1Y)Largest decline over 1 year | -22.66% | -64.23% | +41.57% |
Max Drawdown (3Y)Largest decline over 3 years | -22.66% | -87.95% | +65.29% |
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 | -18.42% | -98.74% | +80.32% |
Average DrawdownAverage peak-to-trough decline | -8.26% | -85.24% | +76.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.37% | 44.13% | -33.76% |
Volatility
GDE vs. GLL - Volatility Comparison
The current volatility for WisdomTree Efficient Gold Plus Equity Strategy Fund (GDE) is 8.13%, while ProShares UltraShort Gold (GLL) has a volatility of 11.92%. This indicates that GDE 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
| GDE | GLL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.13% | 11.92% | -3.79% |
Volatility (6M)Calculated over the trailing 6-month period | 24.41% | 41.51% | -17.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.15% | 55.36% | -24.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.12% | 36.89% | -9.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.12% | 32.49% | -5.37% |
GDE vs. GLL - Expense Ratio Comparison
GDE has a 0.20% expense ratio, which is lower than GLL's 0.95% expense ratio.
Dividends
GDE vs. GLL - Dividend Comparison
GDE's dividend yield for the trailing twelve months is around 4.28%, while GLL has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
GDE WisdomTree Efficient Gold Plus Equity Strategy Fund | 4.28% | 4.32% | 7.14% | 2.22% | 0.81% |
GLL ProShares UltraShort Gold | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GDE and GLL have a correlation of -0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GLL has higher volatility (11.92%) compared to GDE (8.13%). In terms of maximum drawdown, GDE dropped -32.01% vs GLL's -99.24%.
On 3-year performance, GDE leads with 40.14% vs -38.64% for GLL. On fees, GDE is cheaper at 0.20% per year. On volatility, GDE has been the lower-risk option at 8.13%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, GDE has performed better with a 40.14% return vs -38.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GDE is cheaper with a 0.20% expense ratio, compared with 0.95% for GLL.
GDE has the higher dividend yield at 4.28%, compared with 0.00% for GLL.
GDE is categorized as Gold, while GLL is Leveraged Commodities. They also come from different issuers: WisdomTree and ProShares. Their fees differ too: 0.20% for GDE and 0.95% for GLL.
GDE currently has the higher Sharpe Ratio (1.15 vs -0.71), 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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