GLL vs. YANG
GLL (ProShares UltraShort Gold) and YANG (Direxion Daily China 3x Bear Shares) are both exchange-traded funds - GLL is a Leveraged Commodities fund tracking the Bloomberg Gold (-200%), while YANG is a China Equities fund tracking the FTSE China 50 Index (-300%). Both are passively managed. Over the past 10 years, GLL returned -20.73%/yr vs -36.40%/yr for YANG. At a 0.11 correlation, their price movements are largely independent. GLL charges 0.95%/yr vs 1.07%/yr for YANG.
Performance
GLL vs. YANG - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, GLL achieves a 3.86% return, which is significantly lower than YANG's 38.12% return. Over the past 10 years, GLL has outperformed YANG with an annualized return of -20.73%, while YANG has yielded a comparatively lower -36.40% annualized return.
GLL
- 1D
- 5.23%
- 1M
- 9.87%
- 6M
- 18.09%
- YTD
- 3.86%
- 1Y
- -37.13%
- 3Y*
- -37.68%
- 5Y*
- -26.90%
- 10Y*
- -20.73%
YANG
- 1D
- 0.26%
- 1M
- 13.86%
- 6M
- 67.18%
- YTD
- 38.12%
- 1Y
- 12.80%
- 3Y*
- -41.50%
- 5Y*
- -33.31%
- 10Y*
- -36.40%
GLL vs. YANG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GLL ProShares UltraShort Gold | 3.86% | -62.81% | -33.33% | -14.91% | -2.12% | 1.66% | -41.47% | -26.95% | 5.39% | -23.67% |
YANG Direxion Daily China 3x Bear Shares | 38.12% | -62.77% | -71.41% | 11.95% | -41.34% | 25.90% | -58.66% | -40.72% | 13.14% | -64.93% |
Correlation
The correlation between GLL and YANG is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Dec 3, 2009 | 0.11 |
Over the past year, GLL and YANG have become more correlated (0.34) than their long-term average of 0.11, meaning their price movements have been converging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
GLL vs. YANG — Risk / Return Rank
GLL
YANG
GLL vs. YANG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Gold (GLL) and Direxion Daily China 3x Bear Shares (YANG). 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 | YANG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.89 | ||
| Sortino ratioReturn per unit of downside risk | -1.60 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 1.09 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | -0.57 | 0.40 | -0.98 |
| Martin ratioReturn relative to average drawdown | -0.84 | 0.71 | -1.55 |
Loading charts...
Drawdowns
GLL vs. YANG - Drawdown Comparison
The maximum GLL drawdown since its inception was -99.24%, roughly equal to the maximum YANG drawdown of -99.98%. Use the drawdown chart below to compare losses from any high point for GLL and YANG.
Loading charts...
Drawdown Indicators
| GLL | YANG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.24% | -99.98% | +0.74% |
Max Drawdown (1Y)Largest decline over 1 year | -65.10% | -31.88% | -33.22% |
Max Drawdown (3Y)Largest decline over 3 years | -87.95% | -94.02% | +6.07% |
Max Drawdown (5Y)Largest decline over 5 years | -89.76% | -97.38% | +7.62% |
Max Drawdown (10Y)Largest decline over 10 years | -95.76% | -99.38% | +3.62% |
Current DrawdownCurrent decline from peak | -98.71% | -99.97% | +1.26% |
Average DrawdownAverage peak-to-trough decline | -85.19% | -90.56% | +5.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 44.14% | 19.64% | +24.50% |
Volatility
GLL vs. YANG - Volatility Comparison
The current volatility for ProShares UltraShort Gold (GLL) is 15.04%, while Direxion Daily China 3x Bear Shares (YANG) has a volatility of 18.33%. This indicates that GLL experiences smaller price fluctuations and is considered to be less risky than YANG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| GLL | YANG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.04% | 18.33% | -3.29% |
Volatility (6M)Calculated over the trailing 6-month period | 46.46% | 43.20% | +3.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 55.09% | 59.54% | -4.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.69% | 94.41% | -57.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.42% | 81.87% | -49.45% |
GLL vs. YANG - Expense Ratio Comparison
GLL has a 0.95% expense ratio, which is lower than YANG's 1.07% expense ratio.
Dividends
GLL vs. YANG - Dividend Comparison
GLL has not paid dividends to shareholders, while YANG's dividend yield for the trailing twelve months is around 2.67%.
| Position | 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% |
YANG Direxion Daily China 3x Bear Shares | 2.67% | 4.03% | 9.42% | 3.66% | 0.00% | 0.00% | 0.67% | 1.54% | 0.56% |
Frequently Asked Questions
GLL and YANG have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
YANG has higher volatility (18.33%) compared to GLL (15.04%). In terms of maximum drawdown, GLL dropped -99.24% vs YANG's -99.98%.
On 10-year performance, GLL leads with -20.73% vs -36.40% for YANG. On fees, GLL is cheaper at 0.95% per year. On volatility, GLL has been the lower-risk option at 15.04%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, GLL has performed better with a -20.73% return vs -36.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GLL is cheaper with a 0.95% expense ratio, compared with 1.07% for YANG.
YANG has the higher dividend yield at 2.67%, compared with 0.00% for GLL.
GLL is categorized as Leveraged Commodities, while YANG is China Equities. GLL tracks Bloomberg Gold (-200%), while YANG tracks FTSE China 50 Index (-300%). They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for GLL and 1.07% for YANG.
YANG currently has the higher Sharpe Ratio (0.22 vs -0.68), 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.
Find the right allocation for GLL and YANG
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer