GLL vs. DRIP
Compare and contrast key facts about ProShares UltraShort Gold (GLL) and Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP).
GLL and DRIP 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. DRIP is a passively managed fund by Direxion that tracks the performance of the S&P Oil & Gas Exploration & Production Select Industry Index (-300%). It was launched on Apr 1, 2020. Both GLL and DRIP are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: GLL or DRIP.
Key characteristics
| GLL | DRIP | |
|---|---|---|
| YTD Return | -30.87% | -9.76% |
| 1Y Return | -36.59% | -6.48% |
| 3Y Return (Ann) | -15.82% | -39.13% |
| 5Y Return (Ann) | -20.38% | -55.95% |
| Sharpe Ratio | -1.29 | -0.21 |
| Sortino Ratio | -2.03 | 0.00 |
| Omega Ratio | 0.79 | 1.00 |
| Calmar Ratio | -0.39 | -0.10 |
| Martin Ratio | -1.42 | -0.49 |
| Ulcer Index | 26.67% | 19.28% |
| Daily Std Dev | 29.31% | 45.08% |
| Max Drawdown | -97.04% | -99.90% |
| Current Drawdown | -96.54% | -99.87% |
Correlation
The correlation between GLL and DRIP is 0.04, 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.
Performance
GLL vs. DRIP - Performance Comparison
In the year-to-date period, GLL achieves a -30.87% return, which is significantly lower than DRIP's -9.76% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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GLL vs. DRIP - Expense Ratio Comparison
GLL has a 0.95% expense ratio, which is lower than DRIP's 1.07% expense ratio.
Risk-Adjusted Performance
GLL vs. DRIP - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Gold (GLL) and Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP). 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.
Dividends
GLL vs. DRIP - Dividend Comparison
GLL has not paid dividends to shareholders, while DRIP's dividend yield for the trailing twelve months is around 5.47%.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|
GLL ProShares UltraShort Gold | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
DRIP Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares | 5.47% | 5.09% | 0.00% | 0.00% | 0.01% | 0.96% | 0.58% |
Drawdowns
GLL vs. DRIP - Drawdown Comparison
The maximum GLL drawdown since its inception was -97.04%, roughly equal to the maximum DRIP drawdown of -99.90%. Use the drawdown chart below to compare losses from any high point for GLL and DRIP. For additional features, visit the drawdowns tool.
Volatility
GLL vs. DRIP - Volatility Comparison
The current volatility for ProShares UltraShort Gold (GLL) is 10.46%, while Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP) has a volatility of 14.65%. This indicates that GLL experiences smaller price fluctuations and is considered to be less risky than DRIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.