GLL vs. TDSB
GLL (ProShares UltraShort Gold) and TDSB (Cabana Target Drawdown 7 ETF) are both exchange-traded funds - GLL is a Leveraged Commodities fund tracking the Bloomberg Gold (-200%), while TDSB is a Tactical Allocation fund actively managed by Exchange Traded Concepts. GLL is passively managed, while TDSB is actively managed. Over the past 5 years, GLL returned -29.06%/yr vs 2.22%/yr for TDSB. At a correlation of -0.34, they often move in opposite directions. GLL charges 0.95%/yr vs 0.69%/yr for TDSB.
Performance
GLL vs. TDSB - Performance Comparison
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Returns By Period
In the year-to-date period, GLL achieves a -15.95% return, which is significantly lower than TDSB's 4.87% return.
GLL
- 1D
- -1.70%
- 1M
- 3.39%
- YTD
- -15.95%
- 6M
- -19.96%
- 1Y
- -48.55%
- 3Y*
- -41.54%
- 5Y*
- -29.06%
- 10Y*
- -23.48%
TDSB
- 1D
- 0.32%
- 1M
- 0.57%
- YTD
- 4.87%
- 6M
- 5.00%
- 1Y
- 14.94%
- 3Y*
- 8.91%
- 5Y*
- 2.22%
- 10Y*
- —
GLL vs. TDSB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GLL ProShares UltraShort Gold | -15.95% | -62.81% | -33.33% | -14.91% | -2.12% | 1.66% | 2.99% |
TDSB Cabana Target Drawdown 7 ETF | 4.87% | 12.95% | 3.56% | 4.71% | -16.83% | 8.44% | -1.17% |
Correlation
The correlation between GLL and TDSB is -0.76, 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 | -0.76 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.45 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.33 |
Correlation (All Time) Calculated using the full available price history since Sep 18, 2020 | -0.34 |
Over the past year, the inverse relationship between GLL and TDSB has strengthened: their correlation has moved from -0.34 to -0.76, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
GLL vs. TDSB — Risk / Return Rank
GLL
TDSB
GLL vs. TDSB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Gold (GLL) and Cabana Target Drawdown 7 ETF (TDSB). 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 | TDSB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.44 | ||
| Sortino ratioReturn per unit of downside risk | -4.96 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.48 | -0.65 |
| Calmar ratioReturn relative to maximum drawdown | -0.75 | 3.23 | -3.98 |
| Martin ratioReturn relative to average drawdown | -1.16 | 12.83 | -13.99 |
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 | TDSB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.93 | 2.51 | -3.44 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.81 | 0.30 | -1.12 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.73 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.68 | 0.32 | -1.00 |
Drawdowns
GLL vs. TDSB - Drawdown Comparison
The maximum GLL drawdown since its inception was -99.24%, which is greater than TDSB's maximum drawdown of -19.56%. Use the drawdown chart below to compare losses from any high point for GLL and TDSB.
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Drawdown Indicators
| GLL | TDSB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.24% | -19.56% | -79.68% |
Max Drawdown (1Y)Largest decline over 1 year | -65.10% | -4.64% | -60.46% |
Max Drawdown (3Y)Largest decline over 3 years | -87.95% | -6.84% | -81.11% |
Max Drawdown (5Y)Largest decline over 5 years | -89.76% | -19.56% | -70.20% |
Max Drawdown (10Y)Largest decline over 10 years | -95.76% | — | — |
Current DrawdownCurrent decline from peak | -98.96% | -0.59% | -98.37% |
Average DrawdownAverage peak-to-trough decline | -85.13% | -9.12% | -76.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 41.87% | 1.17% | +40.70% |
Volatility
GLL vs. TDSB - Volatility Comparison
ProShares UltraShort Gold (GLL) has a higher volatility of 11.07% compared to Cabana Target Drawdown 7 ETF (TDSB) at 1.63%. This indicates that GLL's price experiences larger fluctuations and is considered to be riskier than TDSB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLL | TDSB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.07% | 1.63% | +9.44% |
Volatility (6M)Calculated over the trailing 6-month period | 44.43% | 5.02% | +39.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 52.37% | 5.98% | +46.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.89% | 7.32% | +28.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.12% | 7.53% | +24.59% |
GLL vs. TDSB - Expense Ratio Comparison
GLL has a 0.95% expense ratio, which is higher than TDSB's 0.69% expense ratio.
Dividends
GLL vs. TDSB - Dividend Comparison
GLL has not paid dividends to shareholders, while TDSB's dividend yield for the trailing twelve months is around 2.12%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
GLL ProShares UltraShort Gold | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TDSB Cabana Target Drawdown 7 ETF | 2.12% | 1.93% | 3.50% | 2.77% | 1.81% | 1.75% | 0.46% |
Frequently Asked Questions
GLL and TDSB have a correlation of -0.76, 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 TDSB (1.63%). In terms of maximum drawdown, GLL dropped -99.24% vs TDSB's -19.56%.
On 5-year performance, TDSB leads with 2.22% vs -29.06% for GLL. On fees, TDSB is cheaper at 0.69% per year. On volatility, TDSB has been the lower-risk option at 1.63%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, TDSB has performed better with a 2.22% return vs -29.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TDSB is cheaper with a 0.69% expense ratio, compared with 0.95% for GLL.
TDSB has the higher dividend yield at 2.12%, compared with 0.00% for GLL.
GLL is categorized as Leveraged Commodities, while TDSB is Tactical Allocation. They also come from different issuers: ProShares and Exchange Traded Concepts. Their fees differ too: 0.95% for GLL and 0.69% for TDSB.
TDSB currently has the higher Sharpe Ratio (2.51 vs -0.93), 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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