GLL vs. RAAX
Compare and contrast key facts about ProShares UltraShort Gold (GLL) and VanEck Inflation Allocation ETF (RAAX).
GLL and RAAX 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. RAAX is an actively managed fund by VanEck. It was launched on Apr 9, 2018.
Performance
GLL vs. RAAX - Performance Comparison
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GLL vs. RAAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
GLL ProShares UltraShort Gold | -22.83% | -62.81% | -33.33% | -14.91% | -2.12% | 1.66% | -41.47% | -26.95% | 11.31% |
RAAX VanEck Inflation Allocation ETF | 16.55% | 26.74% | 12.50% | 6.71% | 1.51% | 21.56% | -8.27% | 6.14% | -2.41% |
Returns By Period
In the year-to-date period, GLL achieves a -22.83% return, which is significantly lower than RAAX's 16.55% return.
GLL
- 1D
- -7.30%
- 1M
- 22.90%
- YTD
- -22.83%
- 6M
- -39.36%
- 1Y
- -60.18%
- 3Y*
- -42.72%
- 5Y*
- -32.85%
- 10Y*
- -24.50%
RAAX
- 1D
- 1.60%
- 1M
- -1.93%
- YTD
- 16.55%
- 6M
- 20.84%
- 1Y
- 36.86%
- 3Y*
- 20.32%
- 5Y*
- 14.77%
- 10Y*
- —
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GLL vs. RAAX - Expense Ratio Comparison
GLL has a 0.95% expense ratio, which is higher than RAAX's 0.78% expense ratio.
Return for Risk
GLL vs. RAAX — Risk / Return Rank
GLL
RAAX
GLL vs. RAAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Gold (GLL) and VanEck Inflation Allocation ETF (RAAX). 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 | RAAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -1.10 | 2.25 | -3.36 |
Sortino ratioReturn per unit of downside risk | -2.03 | 2.88 | -4.92 |
Omega ratioGain probability vs. loss probability | 0.78 | 1.43 | -0.65 |
Calmar ratioReturn relative to maximum drawdown | -0.86 | 3.27 | -4.12 |
Martin ratioReturn relative to average drawdown | -1.39 | 16.58 | -17.97 |
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 | RAAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.10 | 2.25 | -3.36 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.93 | 0.95 | -1.88 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.77 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.69 | 0.61 | -1.30 |
Correlation
The correlation between GLL and RAAX is -0.51. 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.
Dividends
GLL vs. RAAX - Dividend Comparison
GLL has not paid dividends to shareholders, while RAAX's dividend yield for the trailing twelve months is around 2.01%.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
GLL ProShares UltraShort Gold | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
RAAX VanEck Inflation Allocation ETF | 2.01% | 2.34% | 1.91% | 3.66% | 1.53% | 8.72% | 6.27% | 2.37% | 0.56% |
Drawdowns
GLL vs. RAAX - Drawdown Comparison
The maximum GLL drawdown since its inception was -99.24%, which is greater than RAAX's maximum drawdown of -33.91%. Use the drawdown chart below to compare losses from any high point for GLL and RAAX.
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Drawdown Indicators
| GLL | RAAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.24% | -33.91% | -65.33% |
Max Drawdown (1Y)Largest decline over 1 year | -71.53% | -11.59% | -59.94% |
Max Drawdown (5Y)Largest decline over 5 years | -89.76% | -23.55% | -66.21% |
Max Drawdown (10Y)Largest decline over 10 years | -95.76% | — | — |
Current DrawdownCurrent decline from peak | -99.04% | -3.00% | -96.04% |
Average DrawdownAverage peak-to-trough decline | -84.99% | -6.90% | -78.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 44.01% | 2.29% | +41.72% |
Volatility
GLL vs. RAAX - Volatility Comparison
ProShares UltraShort Gold (GLL) has a higher volatility of 21.53% compared to VanEck Inflation Allocation ETF (RAAX) at 5.02%. This indicates that GLL's price experiences larger fluctuations and is considered to be riskier than RAAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLL | RAAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.53% | 5.02% | +16.51% |
Volatility (6M)Calculated over the trailing 6-month period | 46.40% | 12.12% | +34.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 54.76% | 16.45% | +38.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.40% | 15.67% | +19.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.98% | 15.86% | +16.12% |