KOLD vs. GLDW
KOLD (ProShares UltraShort Bloomberg Natural Gas) and GLDW (Roundhill Gold WeeklyPay ETF) are both exchange-traded funds - KOLD is a Leveraged Commodities fund tracking the Bloomberg Natural Gas Subindex (TR) (200%), while GLDW is a Derivative Income fund actively managed by State Street. KOLD is passively managed, while GLDW is actively managed. At a correlation of -0.07, they often move in opposite directions. KOLD charges 0.95%/yr vs 0.99%/yr for GLDW.
Performance
KOLD vs. GLDW - Performance Comparison
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Returns By Period
In the year-to-date period, KOLD achieves a -34.34% return, which is significantly lower than GLDW's 2.22% return.
KOLD
- 1D
- 1.05%
- 1M
- -9.50%
- YTD
- -34.34%
- 6M
- -7.88%
- 1Y
- 1.67%
- 3Y*
- -19.53%
- 5Y*
- -40.39%
- 10Y*
- -26.16%
GLDW
- 1D
- 0.32%
- 1M
- -3.61%
- YTD
- 2.22%
- 6M
- 4.68%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
KOLD vs. GLDW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
KOLD ProShares UltraShort Bloomberg Natural Gas | -34.34% | 2.02% |
GLDW Roundhill Gold WeeklyPay ETF | 2.22% | 7.63% |
Correlation
The correlation between KOLD and GLDW is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 31, 2025 | -0.07 |
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Return for Risk
KOLD vs. GLDW — Risk / Return Rank
KOLD
GLDW
KOLD vs. GLDW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Bloomberg Natural Gas (KOLD) and Roundhill Gold WeeklyPay ETF (GLDW). 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.
| KOLD | GLDW | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.01 | — | — |
Sortino ratioReturn per unit of downside risk | 0.87 | — | — |
Omega ratioGain probability vs. loss probability | 1.11 | — | — |
Calmar ratioReturn relative to maximum drawdown | -0.18 | — | — |
Martin ratioReturn relative to average drawdown | -0.37 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| KOLD | GLDW | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.01 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.34 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.26 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.14 | 0.49 | -0.63 |
Drawdowns
KOLD vs. GLDW - Drawdown Comparison
The maximum KOLD drawdown since its inception was -99.45%, which is greater than GLDW's maximum drawdown of -23.59%. Use the drawdown chart below to compare losses from any high point for KOLD and GLDW.
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Drawdown Indicators
| KOLD | GLDW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.45% | -23.59% | -75.86% |
Max Drawdown (1Y)Largest decline over 1 year | -72.50% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -84.34% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -98.45% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -99.45% | — | — |
Current DrawdownCurrent decline from peak | -97.32% | -21.57% | -75.75% |
Average DrawdownAverage peak-to-trough decline | -69.48% | -8.84% | -60.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 35.85% | — | — |
Volatility
KOLD vs. GLDW - Volatility Comparison
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Volatility by Period
| KOLD | GLDW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 24.65% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 99.52% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 114.40% | 36.99% | +77.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 118.74% | 36.99% | +81.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 101.77% | 36.99% | +64.78% |
KOLD vs. GLDW - Expense Ratio Comparison
KOLD has a 0.95% expense ratio, which is lower than GLDW's 0.99% expense ratio.
Dividends
KOLD vs. GLDW - Dividend Comparison
KOLD has not paid dividends to shareholders, while GLDW's dividend yield for the trailing twelve months is around 19.25%.
| Position | TTM | 2025 |
|---|---|---|
GLDW Roundhill Gold WeeklyPay ETF | 19.25% | 3.75% |
KOLD ProShares UltraShort Bloomberg Natural Gas | 0.00% | 0.00% |
Frequently Asked Questions
KOLD and GLDW have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, KOLD is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.
KOLD is cheaper with a 0.95% expense ratio, compared with 0.99% for GLDW.
GLDW has the higher dividend yield at 19.25%, compared with 0.00% for KOLD.
KOLD is categorized as Leveraged Commodities, while GLDW is Derivative Income. They also come from different issuers: ProShares and State Street. Their fees differ too: 0.95% for KOLD and 0.99% for GLDW.
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