GLL vs. DIA
GLL (ProShares UltraShort Gold) and DIA (State Street SPDR Dow Jones Industrial Average ETF Trust) are both exchange-traded funds - GLL is a Leveraged Commodities fund tracking the Bloomberg Gold (-200%), while DIA is a Large Cap Blend Equities fund tracking the Dow Jones Industrial Average. Both are passively managed. Over the past 10 years, GLL returned -22.08%/yr vs 13.40%/yr for DIA. At a correlation of -0.04, they often move in opposite directions. GLL charges 0.95%/yr vs 0.16%/yr for DIA.
Performance
GLL vs. DIA - Performance Comparison
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Returns By Period
In the year-to-date period, GLL achieves a -5.47% return, which is significantly lower than DIA's 7.27% return. Over the past 10 years, GLL has underperformed DIA with an annualized return of -22.08%, while DIA has yielded a comparatively higher 13.40% annualized return.
GLL
- 1D
- 0.00%
- 1M
- 21.41%
- YTD
- -5.47%
- 6M
- -6.08%
- 1Y
- -40.15%
- 3Y*
- -39.64%
- 5Y*
- -27.61%
- 10Y*
- -22.08%
DIA
- 1D
- 0.73%
- 1M
- 3.57%
- YTD
- 7.27%
- 6M
- 6.43%
- 1Y
- 23.20%
- 3Y*
- 16.29%
- 5Y*
- 10.14%
- 10Y*
- 13.40%
GLL vs. DIA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GLL ProShares UltraShort Gold | -5.47% | -62.81% | -33.33% | -14.91% | -2.12% | 1.66% | -41.47% | -26.95% | 5.39% | -23.67% |
DIA State Street SPDR Dow Jones Industrial Average ETF Trust | 7.27% | 14.71% | 14.82% | 16.02% | -7.02% | 20.83% | 9.59% | 24.70% | -3.74% | 28.08% |
Correlation
The correlation between GLL and DIA is -0.22, 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 | -0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.12 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.03 |
Correlation (All Time) Calculated using the full available price history since Dec 3, 2008 | -0.04 |
The correlation between GLL and DIA shifts across timeframes, from -0.22 (1 year) to -0.03 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
GLL vs. DIA — Risk / Return Rank
GLL
DIA
GLL vs. DIA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Gold (GLL) and State Street SPDR Dow Jones Industrial Average ETF Trust (DIA). 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.
| GLL | DIA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.46 | ||
| Sortino ratioReturn per unit of downside risk | -3.58 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 1.30 | -0.42 |
| Calmar ratioReturn relative to maximum drawdown | -0.64 | 2.16 | -2.80 |
| Martin ratioReturn relative to average drawdown | -0.98 | 8.35 | -9.33 |
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Drawdowns
GLL vs. DIA - Drawdown Comparison
The maximum GLL drawdown since its inception was -99.24%, which is greater than DIA's maximum drawdown of -51.87%. Use the drawdown chart below to compare losses from any high point for GLL and DIA.
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Drawdown Indicators
| GLL | DIA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.24% | -51.87% | -47.37% |
Max Drawdown (1Y)Largest decline over 1 year | -65.10% | -9.76% | -55.34% |
Max Drawdown (3Y)Largest decline over 3 years | -87.95% | -15.95% | -72.00% |
Max Drawdown (5Y)Largest decline over 5 years | -89.76% | -20.76% | -69.00% |
Max Drawdown (10Y)Largest decline over 10 years | -95.76% | -36.70% | -59.06% |
Current DrawdownCurrent decline from peak | -98.83% | -0.70% | -98.13% |
Average DrawdownAverage peak-to-trough decline | -85.13% | -7.14% | -77.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 42.47% | 2.53% | +39.94% |
Volatility
GLL vs. DIA - Volatility Comparison
ProShares UltraShort Gold (GLL) has a higher volatility of 15.23% compared to State Street SPDR Dow Jones Industrial Average ETF Trust (DIA) at 4.32%. This indicates that GLL's price experiences larger fluctuations and is considered to be riskier than DIA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLL | DIA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.23% | 4.32% | +10.91% |
Volatility (6M)Calculated over the trailing 6-month period | 46.29% | 9.78% | +36.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 53.94% | 12.52% | +41.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.34% | 14.85% | +21.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.38% | 17.56% | +14.82% |
GLL vs. DIA - Expense Ratio Comparison
GLL has a 0.95% expense ratio, which is higher than DIA's 0.16% expense ratio.
Dividends
GLL vs. DIA - Dividend Comparison
GLL has not paid dividends to shareholders, while DIA's dividend yield for the trailing twelve months is around 1.37%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DIA State Street SPDR Dow Jones Industrial Average ETF Trust | 1.37% | 1.43% | 1.61% | 1.81% | 1.91% | 1.58% | 1.87% | 1.85% | 2.24% | 1.97% | 2.26% | 2.33% |
GLL ProShares UltraShort Gold | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GLL and DIA have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GLL has higher volatility (15.23%) compared to DIA (4.32%). In terms of maximum drawdown, GLL dropped -99.24% vs DIA's -51.87%.
On 10-year performance, DIA leads with 13.40% vs -22.08% for GLL. On fees, DIA is cheaper at 0.16% per year. On volatility, DIA has been the lower-risk option at 4.32%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DIA has performed better with a 13.40% return vs -22.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DIA is cheaper with a 0.16% expense ratio, compared with 0.95% for GLL.
DIA has the higher dividend yield at 1.37%, compared with 0.00% for GLL.
GLL is categorized as Leveraged Commodities, while DIA is Large Cap Blend Equities. GLL tracks Bloomberg Gold (-200%), while DIA tracks Dow Jones Industrial Average. They also come from different issuers: ProShares and State Street. Their fees differ too: 0.95% for GLL and 0.16% for DIA.
DIA currently has the higher Sharpe Ratio (1.69 vs -0.78), 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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