GLL vs. GLD
Compare and contrast key facts about ProShares UltraShort Gold (GLL) and SPDR Gold Trust (GLD).
GLL and GLD 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. GLD is a passively managed fund by State Street that tracks the performance of the Gold Bullion. It was launched on Nov 18, 2004. Both GLL and GLD 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 GLD.
Key characteristics
| GLL | GLD | |
|---|---|---|
| YTD Return | -37.32% | 30.59% |
| 1Y Return | -43.33% | 38.10% |
| 3Y Return (Ann) | -19.82% | 13.60% |
| 5Y Return (Ann) | -22.06% | 12.72% |
| 10Y Return (Ann) | -17.12% | 8.51% |
| Sharpe Ratio | -1.46 | 2.52 |
| Sortino Ratio | -2.38 | 3.33 |
| Omega Ratio | 0.75 | 1.44 |
| Calmar Ratio | -0.43 | 4.95 |
| Martin Ratio | -1.53 | 16.79 |
| Ulcer Index | 27.64% | 2.19% |
| Daily Std Dev | 28.91% | 14.59% |
| Max Drawdown | -97.04% | -45.56% |
| Current Drawdown | -96.86% | -3.05% |
Correlation
The correlation between GLL and GLD is -0.99. 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.
Performance
GLL vs. GLD - Performance Comparison
In the year-to-date period, GLL achieves a -37.32% return, which is significantly lower than GLD's 30.59% return. Over the past 10 years, GLL has underperformed GLD with an annualized return of -17.12%, while GLD has yielded a comparatively higher 8.51% annualized 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. GLD - Expense Ratio Comparison
GLL has a 0.95% expense ratio, which is higher than GLD's 0.40% expense ratio.
Risk-Adjusted Performance
GLL vs. GLD - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Gold (GLL) and SPDR Gold Trust (GLD). 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. GLD - Dividend Comparison
Neither GLL nor GLD has paid dividends to shareholders.
Drawdowns
GLL vs. GLD - Drawdown Comparison
The maximum GLL drawdown since its inception was -97.04%, which is greater than GLD's maximum drawdown of -45.56%. Use the drawdown chart below to compare losses from any high point for GLL and GLD. For additional features, visit the drawdowns tool.
Volatility
GLL vs. GLD - Volatility Comparison
ProShares UltraShort Gold (GLL) has a higher volatility of 9.25% compared to SPDR Gold Trust (GLD) at 4.86%. This indicates that GLL's price experiences larger fluctuations and is considered to be riskier than GLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.