GLL vs. BITO
Compare and contrast key facts about ProShares UltraShort Gold (GLL) and ProShares Bitcoin Strategy ETF (BITO).
GLL and BITO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GLL is a passively managed fund by ProShares that tracks the performance of the Bloomberg Gold (-200%). It was launched on Dec 1, 2008. BITO is an actively managed fund by ProShares. It was launched on Oct 19, 2021.
Performance
GLL vs. BITO - Performance Comparison
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GLL vs. BITO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
GLL ProShares UltraShort Gold | -22.83% | -62.81% | -33.33% | -14.91% | -2.12% | -7.35% |
BITO ProShares Bitcoin Strategy ETF | -23.25% | -11.19% | 104.45% | 137.33% | -63.91% | -31.09% |
Returns By Period
The year-to-date returns for both stocks are quite close, with GLL having a -22.83% return and BITO slightly lower at -23.25%.
GLL
- 1D
- -7.30%
- 1M
- 22.90%
- YTD
- -22.83%
- 6M
- -39.36%
- 1Y
- -60.18%
- 3Y*
- -42.72%
- 5Y*
- -32.85%
- 10Y*
- -24.50%
BITO
- 1D
- 1.75%
- 1M
- 2.92%
- YTD
- -23.25%
- 6M
- -41.96%
- 1Y
- -21.48%
- 3Y*
- 24.62%
- 5Y*
- —
- 10Y*
- —
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GLL vs. BITO - Expense Ratio Comparison
Both GLL and BITO have an expense ratio of 0.95%.
Return for Risk
GLL vs. BITO — Risk / Return Rank
GLL
BITO
GLL vs. BITO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Gold (GLL) and ProShares Bitcoin Strategy ETF (BITO). 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.
| GLL | BITO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -1.10 | -0.48 | -0.63 |
Sortino ratioReturn per unit of downside risk | -2.03 | -0.43 | -1.61 |
Omega ratioGain probability vs. loss probability | 0.78 | 0.95 | -0.17 |
Calmar ratioReturn relative to maximum drawdown | -0.86 | -0.46 | -0.40 |
Martin ratioReturn relative to average drawdown | -1.39 | -0.97 | -0.42 |
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
| GLL | BITO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.10 | -0.48 | -0.63 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.93 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.77 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.69 | -0.08 | -0.62 |
Correlation
The correlation between GLL and BITO is -0.10. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
GLL vs. BITO - Dividend Comparison
GLL has not paid dividends to shareholders, while BITO's dividend yield for the trailing twelve months is around 84.71%.
| TTM | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
GLL ProShares UltraShort Gold | 0.00% | 0.00% | 0.00% | 0.00% |
BITO ProShares Bitcoin Strategy ETF | 84.71% | 78.29% | 61.59% | 15.14% |
Drawdowns
GLL vs. BITO - Drawdown Comparison
The maximum GLL drawdown since its inception was -99.24%, which is greater than BITO's maximum drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for GLL and BITO.
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Drawdown Indicators
| GLL | BITO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.24% | -77.86% | -21.38% |
Max Drawdown (1Y)Largest decline over 1 year | -71.53% | -50.05% | -21.48% |
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 | -99.04% | -47.07% | -51.97% |
Average DrawdownAverage peak-to-trough decline | -84.99% | -36.56% | -48.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 44.01% | 23.55% | +20.46% |
Volatility
GLL vs. BITO - Volatility Comparison
ProShares UltraShort Gold (GLL) has a higher volatility of 21.53% compared to ProShares Bitcoin Strategy ETF (BITO) at 12.89%. This indicates that GLL's price experiences larger fluctuations and is considered to be riskier than BITO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLL | BITO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.53% | 12.89% | +8.64% |
Volatility (6M)Calculated over the trailing 6-month period | 46.40% | 36.69% | +9.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 54.76% | 45.35% | +9.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.40% | 55.79% | -20.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.98% | 55.79% | -23.81% |