OILU vs. GLL
OILU (MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN) and GLL (ProShares UltraShort Gold) are both Leveraged Commodities funds. Over the past 3 years, OILU returned 4.85%/yr vs -39.33%/yr for GLL. At a correlation of -0.14, they often move in opposite directions. Both charge a 0.95% expense ratio.
Performance
OILU vs. GLL - Performance Comparison
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Returns By Period
In the year-to-date period, OILU achieves a 53.67% return, which is significantly higher than GLL's -1.30% return.
OILU
- 1D
- 1.46%
- 1M
- -25.16%
- YTD
- 53.67%
- 6M
- 54.81%
- 1Y
- 54.07%
- 3Y*
- 4.85%
- 5Y*
- —
- 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%
OILU vs. GLL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
OILU MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN | 53.67% | -16.50% | -21.65% | -32.50% | 151.08% | -16.79% |
GLL ProShares UltraShort Gold | -1.30% | -62.81% | -33.33% | -14.91% | -2.12% | -1.08% |
Correlation
The correlation between OILU and GLL is 0.01, 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 (1Y) Calculated over the trailing 1-year period | 0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.10 |
Correlation (All Time) Calculated using the full available price history since Nov 9, 2021 | -0.14 |
The correlation between OILU and GLL shifts across timeframes, from -0.14 (all time) to 0.01 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
OILU vs. GLL — Risk / Return Rank
OILU
GLL
OILU vs. GLL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU) 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.
| OILU | GLL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.59 | ||
| Sortino ratioReturn per unit of downside risk | +2.43 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 0.89 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 1.24 | -0.61 | +1.85 |
| Martin ratioReturn relative to average drawdown | 3.58 | -0.92 | +4.50 |
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Drawdowns
OILU vs. GLL - Drawdown Comparison
The maximum OILU drawdown since its inception was -81.00%, smaller than the maximum GLL drawdown of -99.24%. Use the drawdown chart below to compare losses from any high point for OILU and GLL.
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Drawdown Indicators
| OILU | GLL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.00% | -99.24% | +18.24% |
Max Drawdown (1Y)Largest decline over 1 year | -43.74% | -65.10% | +21.36% |
Max Drawdown (3Y)Largest decline over 3 years | -69.09% | -87.95% | +18.86% |
Max Drawdown (5Y)Largest decline over 5 years | — | -89.76% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -95.76% | — |
Current DrawdownCurrent decline from peak | -58.67% | -98.77% | +40.10% |
Average DrawdownAverage peak-to-trough decline | -50.58% | -85.15% | +34.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.16% | 43.09% | -27.93% |
Volatility
OILU vs. GLL - Volatility Comparison
MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU) has a higher volatility of 21.87% compared to ProShares UltraShort Gold (GLL) at 16.15%. This indicates that OILU's price experiences larger fluctuations and is considered to be riskier 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
| OILU | GLL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.87% | 16.15% | +5.72% |
Volatility (6M)Calculated over the trailing 6-month period | 50.75% | 46.91% | +3.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 63.57% | 54.37% | +9.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 81.10% | 36.40% | +44.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 81.10% | 32.31% | +48.79% |
OILU vs. GLL - Expense Ratio Comparison
Both OILU and GLL have an expense ratio of 0.95%.
Dividends
OILU vs. GLL - Dividend Comparison
Neither OILU nor GLL has paid dividends to shareholders.
Frequently Asked Questions
OILU and GLL have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OILU has higher volatility (21.87%) compared to GLL (16.15%). In terms of maximum drawdown, OILU dropped -81.00% vs GLL's -99.24%.
On 3-year performance, OILU leads with 4.85% vs -39.33% for GLL. Both ETFs have the same 0.95% expense ratio. On volatility, GLL has been the lower-risk option at 16.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, OILU has performed better with a 4.85% return vs -39.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
OILU and GLL have the same expense ratio: 0.95% per year.
OILU and GLL have nearly identical dividend yields, around 0.00%.
They also come from different issuers: BMO and ProShares.
OILU 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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