IGLD vs. DGZ
IGLD (FT Vest Gold Strategy Target Income ETF) and DGZ (DB Gold Short Exchange Traded Notes) are both exchange-traded funds - IGLD is a Gold fund actively managed by First Trust, while DGZ is a Inverse Commodities fund tracking the Deutsche Bank Liquid Commodity Index - Optimum Yield Gold Excess Return (-100%). IGLD is actively managed, while DGZ is passively managed. Over the past 5 years, IGLD returned 12.76%/yr vs -9.28%/yr for DGZ. At a correlation of -0.56, they often move in opposite directions. IGLD charges 0.85%/yr vs 0.75%/yr for DGZ.
Performance
IGLD vs. DGZ - Performance Comparison
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Returns By Period
In the year-to-date period, IGLD achieves a -5.55% return, which is significantly lower than DGZ's 13.79% return.
IGLD
- 1D
- -1.96%
- 1M
- -8.08%
- YTD
- -5.55%
- 6M
- -8.37%
- 1Y
- 14.83%
- 3Y*
- 20.33%
- 5Y*
- 12.76%
- 10Y*
- —
DGZ
- 1D
- 4.60%
- 1M
- 27.91%
- YTD
- 13.79%
- 6M
- 21.33%
- 1Y
- -7.69%
- 3Y*
- -14.24%
- 5Y*
- -9.28%
- 10Y*
- -7.12%
IGLD vs. DGZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IGLD FT Vest Gold Strategy Target Income ETF | -5.55% | 47.46% | 19.36% | 9.24% | -2.34% | 4.30% |
DGZ DB Gold Short Exchange Traded Notes | 13.79% | -32.55% | -16.46% | -4.75% | 4.93% | -7.54% |
Correlation
The correlation between IGLD and DGZ is -0.39, 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 | -0.39 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.41 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.54 |
Correlation (All Time) Calculated using the full available price history since Mar 3, 2021 | -0.56 |
The correlation between IGLD and DGZ shifts across timeframes, from -0.56 (all time) to -0.39 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IGLD vs. DGZ — Risk / Return Rank
IGLD
DGZ
IGLD vs. DGZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FT Vest Gold Strategy Target Income ETF (IGLD) and DB Gold Short Exchange Traded Notes (DGZ). 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.
| IGLD | DGZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.72 | ||
| Sortino ratioReturn per unit of downside risk | +0.59 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.05 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 0.68 | -0.20 | +0.88 |
| Martin ratioReturn relative to average drawdown | 1.94 | -0.35 | +2.28 |
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Drawdowns
IGLD vs. DGZ - Drawdown Comparison
The maximum IGLD drawdown since its inception was -21.90%, smaller than the maximum DGZ drawdown of -86.32%. Use the drawdown chart below to compare losses from any high point for IGLD and DGZ.
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Drawdown Indicators
| IGLD | DGZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.90% | -86.32% | +64.42% |
Max Drawdown (1Y)Largest decline over 1 year | -21.90% | -38.32% | +16.42% |
Max Drawdown (3Y)Largest decline over 3 years | -21.90% | -59.54% | +37.64% |
Max Drawdown (5Y)Largest decline over 5 years | -21.90% | -61.54% | +39.64% |
Max Drawdown (10Y)Largest decline over 10 years | — | -71.49% | — |
Current DrawdownCurrent decline from peak | -21.20% | -80.51% | +59.31% |
Average DrawdownAverage peak-to-trough decline | -5.37% | -57.80% | +52.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.68% | 22.24% | -14.56% |
Volatility
IGLD vs. DGZ - Volatility Comparison
The current volatility for FT Vest Gold Strategy Target Income ETF (IGLD) is 8.14%, while DB Gold Short Exchange Traded Notes (DGZ) has a volatility of 45.91%. This indicates that IGLD experiences smaller price fluctuations and is considered to be less risky than DGZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IGLD | DGZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.14% | 45.91% | -37.77% |
Volatility (6M)Calculated over the trailing 6-month period | 22.34% | 58.66% | -36.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.40% | 69.62% | -45.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.48% | 36.50% | -21.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.30% | 28.17% | -12.87% |
IGLD vs. DGZ - Expense Ratio Comparison
IGLD has a 0.85% expense ratio, which is higher than DGZ's 0.75% expense ratio.
Dividends
IGLD vs. DGZ - Dividend Comparison
IGLD's dividend yield for the trailing twelve months is around 19.29%, while DGZ has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
DGZ DB Gold Short Exchange Traded Notes | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IGLD FT Vest Gold Strategy Target Income ETF | 19.29% | 9.91% | 20.81% | 7.85% | 4.45% | 2.24% |
Frequently Asked Questions
IGLD and DGZ have a correlation of -0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DGZ has higher volatility (45.91%) compared to IGLD (8.14%). In terms of maximum drawdown, IGLD dropped -21.90% vs DGZ's -86.32%.
On 5-year performance, IGLD leads with 12.76% vs -9.28% for DGZ. On fees, DGZ is cheaper at 0.75% per year. On volatility, IGLD has been the lower-risk option at 8.14%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, IGLD has performed better with a 12.76% return vs -9.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DGZ is cheaper with a 0.75% expense ratio, compared with 0.85% for IGLD.
IGLD has the higher dividend yield at 19.29%, compared with 0.00% for DGZ.
IGLD is categorized as Gold, while DGZ is Inverse Commodities. They also come from different issuers: First Trust and Deutsche Bank. Their fees differ too: 0.85% for IGLD and 0.75% for DGZ.
IGLD currently has the higher Sharpe Ratio (0.61 vs -0.11), 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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