GLL vs. GOOG
GLL (ProShares UltraShort Gold) is Leveraged Commodities fund tracking the Bloomberg Gold (-200%), while GOOG (Alphabet Inc) is a stock. Over the past 10 years, GLL returned -20.80%/yr vs 26.28%/yr for GOOG. At a correlation of -0.03, they often move in opposite directions.
Performance
GLL vs. GOOG - Performance Comparison
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Returns By Period
In the year-to-date period, GLL achieves a 4.59% return, which is significantly lower than GOOG's 10.10% return. Over the past 10 years, GLL has underperformed GOOG with an annualized return of -20.80%, while GOOG has yielded a comparatively higher 26.28% annualized return.
GLL
- 1D
- 5.97%
- 1M
- 25.98%
- YTD
- 4.59%
- 6M
- 12.64%
- 1Y
- -38.04%
- 3Y*
- -38.14%
- 5Y*
- -27.61%
- 10Y*
- -20.80%
GOOG
- 1D
- -0.30%
- 1M
- -9.00%
- YTD
- 10.10%
- 6M
- 9.45%
- 1Y
- 106.29%
- 3Y*
- 41.44%
- 5Y*
- 22.34%
- 10Y*
- 26.28%
GLL vs. GOOG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GLL ProShares UltraShort Gold | 4.59% | -62.81% | -33.33% | -14.91% | -2.12% | 1.66% | -41.47% | -26.95% | 5.39% | -23.67% |
GOOG Alphabet Inc | 10.10% | 65.42% | 35.62% | 58.83% | -38.67% | 65.17% | 31.03% | 29.10% | -1.03% | 35.58% |
Correlation
The correlation between GLL and GOOG 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 | -0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.11 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.07 |
Correlation (All Time) Calculated using the full available price history since Apr 3, 2014 | -0.03 |
The correlation between GLL and GOOG shifts across timeframes, from -0.22 (1 year) to -0.03 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
GLL vs. GOOG — Risk / Return Rank
GLL
GOOG
GLL vs. GOOG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Gold (GLL) and Alphabet Inc (GOOG). 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 | GOOG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.37 | ||
| Sortino ratioReturn per unit of downside risk | -5.85 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 1.60 | -0.70 |
| Calmar ratioReturn relative to maximum drawdown | -0.59 | 5.15 | -5.74 |
| Martin ratioReturn relative to average drawdown | -0.88 | 17.50 | -18.38 |
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Drawdowns
GLL vs. GOOG - Drawdown Comparison
The maximum GLL drawdown since its inception was -99.24%, which is greater than GOOG's maximum drawdown of -44.60%. Use the drawdown chart below to compare losses from any high point for GLL and GOOG.
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Drawdown Indicators
| GLL | GOOG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.24% | -44.60% | -54.64% |
Max Drawdown (1Y)Largest decline over 1 year | -65.10% | -20.75% | -44.35% |
Max Drawdown (3Y)Largest decline over 3 years | -87.95% | -29.35% | -58.60% |
Max Drawdown (5Y)Largest decline over 5 years | -89.76% | -44.60% | -45.16% |
Max Drawdown (10Y)Largest decline over 10 years | -95.76% | -44.60% | -51.16% |
Current DrawdownCurrent decline from peak | -98.70% | -13.48% | -85.22% |
Average DrawdownAverage peak-to-trough decline | -85.16% | -8.90% | -76.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 43.16% | 6.10% | +37.06% |
Volatility
GLL vs. GOOG - Volatility Comparison
ProShares UltraShort Gold (GLL) has a higher volatility of 16.87% compared to Alphabet Inc (GOOG) at 9.63%. This indicates that GLL's price experiences larger fluctuations and is considered to be riskier than GOOG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLL | GOOG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.87% | 9.63% | +7.24% |
Volatility (6M)Calculated over the trailing 6-month period | 47.26% | 20.96% | +26.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 54.71% | 29.09% | +25.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.50% | 31.31% | +5.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.36% | 29.06% | +3.30% |
Dividends
GLL vs. GOOG - Dividend Comparison
GLL has not paid dividends to shareholders, while GOOG's dividend yield for the trailing twelve months is around 0.25%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
GLL ProShares UltraShort Gold | 0.00% | 0.00% | 0.00% |
GOOG Alphabet Inc | 0.25% | 0.26% | 0.32% |
Frequently Asked Questions
GLL and GOOG 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 (16.87%) compared to GOOG (9.63%). In terms of maximum drawdown, GLL dropped -99.24% vs GOOG's -44.60%.
GOOG currently has the higher Sharpe Ratio (3.68 vs -0.70), 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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