GLL vs. SPY
Compare and contrast key facts about ProShares UltraShort Gold (GLL) and SPDR S&P 500 ETF (SPY).
GLL and SPY 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. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993. Both GLL and SPY 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 SPY.
Key characteristics
| GLL | SPY | |
|---|---|---|
| YTD Return | -16.29% | 5.94% |
| 1Y Return | -17.51% | 22.56% |
| 3Y Return (Ann) | -14.50% | 7.95% |
| 5Y Return (Ann) | -21.82% | 13.35% |
| 10Y Return (Ann) | -12.84% | 12.34% |
| Sharpe Ratio | -0.67 | 1.93 |
| Daily Std Dev | 24.80% | 11.63% |
| Max Drawdown | -96.15% | -55.19% |
| Current Drawdown | -95.81% | -4.05% |
Correlation
The correlation between GLL and SPY is -0.05. 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. SPY - Performance Comparison
In the year-to-date period, GLL achieves a -16.29% return, which is significantly lower than SPY's 5.94% return. Over the past 10 years, GLL has underperformed SPY with an annualized return of -12.84%, while SPY has yielded a comparatively higher 12.34% 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. SPY - Expense Ratio Comparison
GLL has a 0.95% expense ratio, which is higher than SPY's 0.09% expense ratio.
Risk-Adjusted Performance
GLL vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Gold (GLL) and SPDR S&P 500 ETF (SPY). 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. SPY - Dividend Comparison
GLL has not paid dividends to shareholders, while SPY's dividend yield for the trailing twelve months is around 1.34%.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GLL ProShares UltraShort Gold | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPY SPDR S&P 500 ETF | 1.34% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% | 1.81% |
Drawdowns
GLL vs. SPY - Drawdown Comparison
The maximum GLL drawdown since its inception was -96.15%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for GLL and SPY. For additional features, visit the drawdowns tool.
Volatility
GLL vs. SPY - Volatility Comparison
ProShares UltraShort Gold (GLL) has a higher volatility of 10.55% compared to SPDR S&P 500 ETF (SPY) at 3.91%. This indicates that GLL's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.