PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
GLL vs. YANG
Performance
Return for Risk
Drawdowns
Volatility
Dividends

GLL vs. YANG

Last updated Jun 3, 2026

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 Leveraged Equities fund tracking the FTSE China 50 Index (-300%). Both are passively managed. Over the past 10 years, GLL returned -23.52%/yr vs -39.14%/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

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort Gold (GLL) and Direxion Daily China 3x Bear Shares (YANG). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, GLL achieves a -16.21% return, which is significantly lower than YANG's 11.12% return. Over the past 10 years, GLL has outperformed YANG with an annualized return of -23.52%, while YANG has yielded a comparatively lower -39.14% annualized return.

GLL

1D
-0.27%
1M
5.49%
YTD
-16.21%
6M
-20.17%
1Y
-48.42%
3Y*
-41.85%
5Y*
-29.43%
10Y*
-23.52%

YANG

1D
-8.70%
1M
2.29%
YTD
11.12%
6M
18.25%
1Y
-21.07%
3Y*
-48.12%
5Y*
-35.00%
10Y*
-39.14%
*Multi-year figures are annualized to reflect compound growth (CAGR)

GLL vs. YANG - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
GLL
ProShares UltraShort Gold		-16.21%-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		11.12%-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 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.29

Correlation (3Y)
Calculated over the trailing 3-year period

0.25

Correlation (5Y)
Calculated over the trailing 5-year period

0.21

Correlation (10Y)
Calculated over the trailing 10-year period

0.13

Correlation (All Time)
Calculated using the full available price history since Dec 4, 2009

0.11

The correlation between GLL and YANG shifts across timeframes, from 0.11 (all time) to 0.29 (1 year), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

ProShares UltraShort Gold

Direxion Daily China 3x Bear Shares

Often compared with GLL:
GLL vs. UGLGLL vs. GLDGLL vs. GC=FGLL vs. AGQGLL vs. FNGDGLL vs. DRIPGLL vs. IAUM
Often compared with YANG:
YANG vs. YINNYANG vs. CWEBYANG vs. FXPYANG vs. TYOYANG vs. KLIPYANG vs. EDZYANG vs. SRTY

Return for Risk

GLL vs. YANG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
GLL
GLL Risk / Return Rank: 22
Overall Rank
GLL Sharpe Ratio Rank: 22
Sharpe Ratio Rank
GLL Sortino Ratio Rank: 11
Sortino Ratio Rank
GLL Omega Ratio Rank: 11
Omega Ratio Rank
GLL Calmar Ratio Rank: 22
Calmar Ratio Rank
GLL Martin Ratio Rank: 22
Martin Ratio Rank
YANG
YANG Risk / Return Rank: 55
Overall Rank
YANG Sharpe Ratio Rank: 55
Sharpe Ratio Rank
YANG Sortino Ratio Rank: 66
Sortino Ratio Rank
YANG Omega Ratio Rank: 66
Omega Ratio Rank
YANG Calmar Ratio Rank: 44
Calmar Ratio Rank
YANG Martin Ratio Rank: 55
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

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.

GLLYANGDifference

Sharpe ratio

Return per unit of total volatility

-0.93

-0.36

-0.57

Sortino ratio

Return per unit of downside risk

-1.51

-0.16

-1.35

Omega ratio

Gain probability vs. loss probability

0.83

0.98

-0.15

Calmar ratio

Return relative to maximum drawdown

-0.79

-0.56

-0.23

Martin ratio

Return relative to average drawdown

-1.23

-0.83

-0.40

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GLL vs. YANG - Sharpe Ratio Comparison

The current GLL Sharpe Ratio is -0.93, which is lower than the YANG Sharpe Ratio of -0.36. The chart below compares the historical Sharpe Ratios of GLL and YANG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Sharpe Ratios by Period

GLLYANGDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-0.93

-0.36

-0.57

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.82

-0.37

-0.45

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

-0.73

-0.48

-0.26

Sharpe Ratio (All Time)

Calculated using the full available price history

-0.68

-0.49

-0.18

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

GLLYANGDifference

Max Drawdown

Largest peak-to-trough decline

-99.24%

-99.98%

+0.74%

Max Drawdown (1Y)

Largest decline over 1 year

-65.10%

-40.39%

-24.71%

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%

-99.53%

+3.77%

Current Drawdown

Current decline from peak

-98.96%

-99.98%

+1.02%

Average Drawdown

Average peak-to-trough decline

-85.13%

-90.52%

+5.39%

Ulcer Index

Depth and duration of drawdowns from previous peaks

41.61%

28.39%

+13.22%

Volatility

GLL vs. YANG - Volatility Comparison

The current volatility for ProShares UltraShort Gold (GLL) is 11.61%, while Direxion Daily China 3x Bear Shares (YANG) has a volatility of 20.36%. 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

GLLYANGDifference

Volatility (1M)

Calculated over the trailing 1-month period

11.61%

20.36%

-8.75%

Volatility (6M)

Calculated over the trailing 6-month period

44.38%

42.19%

+2.19%

Volatility (1Y)

Calculated over the trailing 1-year period

52.57%

58.54%

-5.97%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

35.93%

94.43%

-58.50%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

32.12%

82.11%

-49.99%

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 3.67%.

PositionTTM20252024202320222021202020192018
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		3.67%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 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

YANG has higher volatility (20.36%) compared to GLL (11.61%). In terms of maximum drawdown, GLL dropped -99.24% vs YANG's -99.98%.

On 10-year performance, GLL leads with -23.52% vs -39.14% for YANG. On fees, GLL is cheaper at 0.95% per year. On volatility, GLL has been the lower-risk option at 11.61%. 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 -23.52% return vs -39.14%. 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 3.67%, compared with 0.00% for GLL.

GLL is categorized as Leveraged Commodities, while YANG is Leveraged 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 (-0.36 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.

Portfolio Optimizer

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