GLL vs. EDGH
GLL (ProShares UltraShort Gold) and EDGH (3EDGE Dynamic Hard Assets ETF) are both exchange-traded funds - GLL is a Leveraged Commodities fund tracking the Bloomberg Gold (-200%), while EDGH is a Commodities fund actively managed by 3EDGE Asset Management. GLL is passively managed, while EDGH is actively managed. Over the past year, GLL returned -48.24% vs 31.24% for EDGH. At a correlation of -0.89, they often move in opposite directions. GLL charges 0.95%/yr vs 1.01%/yr for EDGH.
Performance
GLL vs. EDGH - Performance Comparison
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Returns By Period
In the year-to-date period, GLL achieves a -14.49% return, which is significantly lower than EDGH's 12.49% return.
GLL
- 1D
- 2.05%
- 1M
- 3.37%
- YTD
- -14.49%
- 6M
- -18.72%
- 1Y
- -48.24%
- 3Y*
- -41.46%
- 5Y*
- -28.82%
- 10Y*
- -23.37%
EDGH
- 1D
- -0.45%
- 1M
- -1.84%
- YTD
- 12.49%
- 6M
- 14.30%
- 1Y
- 31.24%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GLL vs. EDGH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
GLL ProShares UltraShort Gold | -14.49% | -62.81% | 3.32% |
EDGH 3EDGE Dynamic Hard Assets ETF | 12.49% | 28.98% | -1.99% |
Correlation
The correlation between GLL and EDGH is -0.86, 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 | -0.86 |
Correlation (All Time) Calculated using the full available price history since Oct 4, 2024 | -0.89 |
The correlation between GLL and EDGH has been stable across timeframes, ranging from -0.89 to -0.86 - a consistent structural relationship.
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Return for Risk
GLL vs. EDGH — Risk / Return Rank
GLL
EDGH
GLL vs. EDGH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Gold (GLL) and 3EDGE Dynamic Hard Assets ETF (EDGH). 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 | EDGH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.70 | ||
| Sortino ratioReturn per unit of downside risk | -3.65 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.36 | -0.53 |
| Calmar ratioReturn relative to maximum drawdown | -0.74 | 2.96 | -3.70 |
| Martin ratioReturn relative to average drawdown | -1.16 | 9.70 | -10.86 |
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 | EDGH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.92 | 1.77 | -2.70 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.81 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.73 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.67 | 1.53 | -2.20 |
Drawdowns
GLL vs. EDGH - Drawdown Comparison
The maximum GLL drawdown since its inception was -99.24%, which is greater than EDGH's maximum drawdown of -10.60%. Use the drawdown chart below to compare losses from any high point for GLL and EDGH.
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Drawdown Indicators
| GLL | EDGH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.24% | -10.60% | -88.64% |
Max Drawdown (1Y)Largest decline over 1 year | -65.10% | -10.60% | -54.50% |
Max Drawdown (3Y)Largest decline over 3 years | -87.95% | — | — |
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 | -98.94% | -4.80% | -94.14% |
Average DrawdownAverage peak-to-trough decline | -85.13% | -2.04% | -83.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 41.74% | 3.23% | +38.51% |
Volatility
GLL vs. EDGH - Volatility Comparison
ProShares UltraShort Gold (GLL) has a higher volatility of 11.07% compared to 3EDGE Dynamic Hard Assets ETF (EDGH) at 3.01%. This indicates that GLL's price experiences larger fluctuations and is considered to be riskier than EDGH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLL | EDGH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.07% | 3.01% | +8.06% |
Volatility (6M)Calculated over the trailing 6-month period | 44.43% | 14.72% | +29.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 52.38% | 17.72% | +34.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.90% | 15.60% | +20.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.12% | 15.60% | +16.52% |
GLL vs. EDGH - Expense Ratio Comparison
GLL has a 0.95% expense ratio, which is lower than EDGH's 1.01% expense ratio.
Dividends
GLL vs. EDGH - Dividend Comparison
GLL has not paid dividends to shareholders, while EDGH's dividend yield for the trailing twelve months is around 1.05%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
EDGH 3EDGE Dynamic Hard Assets ETF | 1.05% | 1.18% | 3.19% |
GLL ProShares UltraShort Gold | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GLL and EDGH have a correlation of -0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GLL has higher volatility (11.07%) compared to EDGH (3.01%). In terms of maximum drawdown, GLL dropped -99.24% vs EDGH's -10.60%.
On 1-year performance, EDGH leads with 31.24% vs -48.24% for GLL. On fees, GLL is cheaper at 0.95% per year. On volatility, EDGH has been the lower-risk option at 3.01%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, EDGH has performed better with a 31.24% return vs -48.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GLL is cheaper with a 0.95% expense ratio, compared with 1.01% for EDGH.
EDGH has the higher dividend yield at 1.05%, compared with 0.00% for GLL.
GLL is categorized as Leveraged Commodities, while EDGH is Commodities. They also come from different issuers: ProShares and 3EDGE Asset Management. Their fees differ too: 0.95% for GLL and 1.01% for EDGH.
EDGH currently has the higher Sharpe Ratio (1.77 vs -0.92), 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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