IGLD vs. GLL
IGLD (FT Vest Gold Strategy Target Income ETF) and GLL (ProShares UltraShort Gold) are both exchange-traded funds - IGLD is a Gold fund actively managed by First Trust, while GLL is a Leveraged Commodities fund tracking the Bloomberg Gold (-200%). IGLD is actively managed, while GLL is passively managed. Over the past 5 years, IGLD returned 12.76%/yr vs -28.52%/yr for GLL. At a correlation of -0.92, they often move in opposite directions. IGLD charges 0.85%/yr vs 0.95%/yr for GLL.
Performance
IGLD vs. GLL - 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 GLL's -1.30% return.
IGLD
- 1D
- -1.96%
- 1M
- -8.08%
- YTD
- -5.55%
- 6M
- -8.37%
- 1Y
- 14.83%
- 3Y*
- 20.33%
- 5Y*
- 12.76%
- 10Y*
- —
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%
IGLD vs. GLL - 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% |
GLL ProShares UltraShort Gold | -1.30% | -62.81% | -33.33% | -14.91% | -2.12% | -14.48% |
Correlation
The correlation between IGLD and GLL is -0.95, 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 | -0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.92 |
Correlation (All Time) Calculated using the full available price history since Mar 3, 2021 | -0.92 |
The correlation between IGLD and GLL has been stable across timeframes, ranging from -0.95 to -0.92 - a consistent structural relationship.
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Return for Risk
IGLD vs. GLL — Risk / Return Rank
IGLD
GLL
IGLD vs. GLL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FT Vest Gold Strategy Target Income ETF (IGLD) 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.
| IGLD | GLL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.34 | ||
| Sortino ratioReturn per unit of downside risk | +1.95 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 0.89 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 0.68 | -0.61 | +1.29 |
| Martin ratioReturn relative to average drawdown | 1.94 | -0.92 | +2.86 |
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Drawdowns
IGLD vs. GLL - Drawdown Comparison
The maximum IGLD drawdown since its inception was -21.90%, smaller than the maximum GLL drawdown of -99.24%. Use the drawdown chart below to compare losses from any high point for IGLD and GLL.
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Drawdown Indicators
| IGLD | GLL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.90% | -99.24% | +77.34% |
Max Drawdown (1Y)Largest decline over 1 year | -21.90% | -65.10% | +43.20% |
Max Drawdown (3Y)Largest decline over 3 years | -21.90% | -87.95% | +66.05% |
Max Drawdown (5Y)Largest decline over 5 years | -21.90% | -89.76% | +67.86% |
Max Drawdown (10Y)Largest decline over 10 years | — | -95.76% | — |
Current DrawdownCurrent decline from peak | -21.20% | -98.77% | +77.57% |
Average DrawdownAverage peak-to-trough decline | -5.37% | -85.15% | +79.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.68% | 43.09% | -35.41% |
Volatility
IGLD vs. GLL - Volatility Comparison
The current volatility for FT Vest Gold Strategy Target Income ETF (IGLD) is 8.14%, while ProShares UltraShort Gold (GLL) has a volatility of 16.15%. This indicates that IGLD 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
| IGLD | GLL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.14% | 16.15% | -8.01% |
Volatility (6M)Calculated over the trailing 6-month period | 22.34% | 46.91% | -24.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.40% | 54.37% | -29.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.48% | 36.40% | -20.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.30% | 32.31% | -17.01% |
IGLD vs. GLL - Expense Ratio Comparison
IGLD has a 0.85% expense ratio, which is lower than GLL's 0.95% expense ratio.
Dividends
IGLD vs. GLL - Dividend Comparison
IGLD's dividend yield for the trailing twelve months is around 19.29%, while GLL has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
GLL ProShares UltraShort Gold | 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 GLL have a correlation of -0.95, 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 IGLD (8.14%). In terms of maximum drawdown, IGLD dropped -21.90% vs GLL's -99.24%.
On 5-year performance, IGLD leads with 12.76% vs -28.52% for GLL. On fees, IGLD is cheaper at 0.85% 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 -28.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IGLD is cheaper with a 0.85% expense ratio, compared with 0.95% for GLL.
IGLD has the higher dividend yield at 19.29%, compared with 0.00% for GLL.
IGLD is categorized as Gold, while GLL is Leveraged Commodities. They also come from different issuers: First Trust and ProShares. Their fees differ too: 0.85% for IGLD and 0.95% for GLL.
IGLD currently has the higher Sharpe Ratio (0.61 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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