GLTR vs. GLL
GLTR (abrdn Physical Precious Metals Basket Shares ETF) and GLL (ProShares UltraShort Gold) are both exchange-traded funds - GLTR is a Precious Metals fund tracking the ETFS Physical Precious Metals Basket Index, while GLL is a Leveraged Commodities fund tracking the Bloomberg Gold (-200%). Both are passively managed. Over the past 10 years, GLTR returned 11.27%/yr vs -21.26%/yr for GLL. At a correlation of -0.91, they often move in opposite directions. GLTR charges 0.60%/yr vs 0.95%/yr for GLL.
Performance
GLTR vs. GLL - Performance Comparison
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Returns By Period
In the year-to-date period, GLTR achieves a -9.21% return, which is significantly lower than GLL's -1.30% return. Over the past 10 years, GLTR has outperformed GLL with an annualized return of 11.27%, while GLL has yielded a comparatively lower -21.26% annualized return.
GLTR
- 1D
- -3.07%
- 1M
- -12.32%
- YTD
- -9.21%
- 6M
- -12.60%
- 1Y
- 33.31%
- 3Y*
- 29.08%
- 5Y*
- 14.31%
- 10Y*
- 11.27%
GLL
- 1D
- 3.82%
- 1M
- 18.89%
- YTD
- -1.30%
- 6M
- 7.14%
- 1Y
- -39.64%
- 3Y*
- -39.33%
- 5Y*
- -28.52%
- 10Y*
- -21.26%
GLTR vs. GLL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GLTR abrdn Physical Precious Metals Basket Shares ETF | -9.21% | 87.25% | 20.63% | 2.01% | -0.25% | -9.60% | 29.52% | 20.96% | -2.85% | 12.94% |
GLL ProShares UltraShort Gold | -1.30% | -62.81% | -33.33% | -14.91% | -2.12% | 1.66% | -41.47% | -26.95% | 5.39% | -23.67% |
Correlation
The correlation between GLTR and GLL is -0.92, 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 | -0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.91 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.90 |
Correlation (All Time) Calculated using the full available price history since Oct 22, 2010 | -0.91 |
The correlation between GLTR and GLL has been stable across timeframes, ranging from -0.92 to -0.90 - a consistent structural relationship.
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Return for Risk
GLTR vs. GLL — Risk / Return Rank
GLTR
GLL
GLTR vs. GLL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for abrdn Physical Precious Metals Basket Shares ETF (GLTR) and ProShares UltraShort Gold (GLL). 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.
| GLTR | GLL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.59 | ||
| Sortino ratioReturn per unit of downside risk | +2.22 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 0.89 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 0.97 | -0.61 | +1.58 |
| Martin ratioReturn relative to average drawdown | 2.27 | -0.92 | +3.20 |
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Drawdowns
GLTR vs. GLL - Drawdown Comparison
The maximum GLTR drawdown since its inception was -55.70%, smaller than the maximum GLL drawdown of -99.24%. Use the drawdown chart below to compare losses from any high point for GLTR and GLL.
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Drawdown Indicators
| GLTR | GLL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.70% | -99.24% | +43.54% |
Max Drawdown (1Y)Largest decline over 1 year | -34.55% | -65.10% | +30.55% |
Max Drawdown (3Y)Largest decline over 3 years | -34.55% | -87.95% | +53.40% |
Max Drawdown (5Y)Largest decline over 5 years | -34.55% | -89.76% | +55.21% |
Max Drawdown (10Y)Largest decline over 10 years | -34.55% | -95.76% | +61.21% |
Current DrawdownCurrent decline from peak | -34.55% | -98.77% | +64.22% |
Average DrawdownAverage peak-to-trough decline | -28.83% | -85.15% | +56.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.68% | 43.09% | -28.41% |
Volatility
GLTR vs. GLL - Volatility Comparison
The current volatility for abrdn Physical Precious Metals Basket Shares ETF (GLTR) is 10.06%, while ProShares UltraShort Gold (GLL) has a volatility of 16.15%. This indicates that GLTR experiences smaller price fluctuations and is considered to be less risky than GLL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLTR | GLL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.06% | 16.15% | -6.09% |
Volatility (6M)Calculated over the trailing 6-month period | 36.51% | 46.91% | -10.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.78% | 54.37% | -15.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.90% | 36.40% | -12.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.68% | 32.31% | -11.63% |
GLTR vs. GLL - Expense Ratio Comparison
GLTR has a 0.60% expense ratio, which is lower than GLL's 0.95% expense ratio.
Dividends
GLTR vs. GLL - Dividend Comparison
Neither GLTR nor GLL has paid dividends to shareholders.
Frequently Asked Questions
GLTR and GLL have a correlation of -0.92, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GLL has higher volatility (16.15%) compared to GLTR (10.06%). In terms of maximum drawdown, GLTR dropped -55.70% vs GLL's -99.24%.
On 10-year performance, GLTR leads with 11.27% vs -21.26% for GLL. On fees, GLTR is cheaper at 0.60% per year. On volatility, GLTR has been the lower-risk option at 10.06%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, GLTR has performed better with a 11.27% return vs -21.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GLTR is cheaper with a 0.60% expense ratio, compared with 0.95% for GLL.
GLTR and GLL have nearly identical dividend yields, around 0.00%.
GLTR is categorized as Precious Metals, while GLL is Leveraged Commodities. GLTR tracks ETFS Physical Precious Metals Basket Index, while GLL tracks Bloomberg Gold (-200%). They also come from different issuers: abrdn and ProShares. Their fees differ too: 0.60% for GLTR and 0.95% for GLL.
GLTR currently has the higher Sharpe Ratio (0.86 vs -0.73), 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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