PLTM vs. DGZ

Last updated Jun 24, 2026

PLTM (GraniteShares Platinum Trust) and DGZ (DB Gold Short Exchange Traded Notes) are both exchange-traded funds - PLTM is a Precious Metals fund tracking the Platinum London PM Fix ($/ozt), while DGZ is a Inverse Commodities fund tracking the Deutsche Bank Liquid Commodity Index - Optimum Yield Gold Excess Return (-100%). Both are passively managed. Over the past 5 years, PLTM returned 7.99%/yr vs -9.28%/yr for DGZ. At a correlation of -0.35, they often move in opposite directions. PLTM charges 0.50%/yr vs 0.75%/yr for DGZ.

Performance

PLTM vs. DGZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares Platinum Trust (PLTM) and DB Gold Short Exchange Traded Notes (DGZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PLTM achieves a -19.61% return, which is significantly lower than DGZ's 13.79% return.

PLTM

• 1D: -1.49%
• 1M: -14.13%
• YTD: -19.61%
• 6M: -27.97%
• 1Y: 27.29%
• 3Y*: 21.01%
• 5Y*: 7.99%
• 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%

*Multi-year figures are annualized to reflect compound growth (CAGR)

PLTM vs. DGZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
PLTM GraniteShares Platinum Trust	-19.61%	124.46%	-8.91%	-8.10%	10.83%	-10.52%	10.87%	20.76%	-20.92%
DGZ DB Gold Short Exchange Traded Notes	13.79%	-32.55%	-16.46%	-4.75%	4.93%	1.53%	-20.80%	-13.42%	6.29%

Correlation

The correlation between PLTM and DGZ is -0.28, 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	-0.28
Correlation (3Y) Calculated over the trailing 3-year period	-0.26
Correlation (5Y) Calculated over the trailing 5-year period	-0.34
Correlation (All Time) Calculated using the full available price history since Feb 5, 2018	-0.35

Return for Risk

PLTM vs. DGZ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PLTM

PLTM Risk / Return Rank: 18
PLTM Sharpe Ratio Rank: 17
PLTM Sortino Ratio Rank: 19
PLTM Omega Ratio Rank: 20
PLTM Calmar Ratio Rank: 17
PLTM Martin Ratio Rank: 16

DGZ

DGZ Risk / Return Rank: 9
DGZ Sharpe Ratio Rank: 8
DGZ Sortino Ratio Rank: 10
DGZ Omega Ratio Rank: 11
DGZ Calmar Ratio Rank: 7
DGZ Martin Ratio Rank: 7

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PLTM vs. DGZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares Platinum Trust (PLTM) 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.

	PLTM	DGZ	Difference
Sharpe ratio: Return per unit of total volatility	0.53	-0.11	+0.65
Sortino ratio: Return per unit of downside risk	0.99	0.36	+0.63
Omega ratio: Gain probability vs. loss probability	1.14	1.05	+0.09
Calmar ratio: Return relative to maximum drawdown	0.67	-0.20	+0.88
Martin ratio: Return relative to average drawdown	1.49	-0.35	+1.84

PLTM vs. DGZ - Sharpe Ratio Comparison

The current PLTM Sharpe Ratio is 0.53, which is higher than the DGZ Sharpe Ratio of -0.11. The chart below compares the historical Sharpe Ratios of PLTM and DGZ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PLTM vs. DGZ - Drawdown Comparison

The maximum PLTM drawdown since its inception was -42.32%, smaller than the maximum DGZ drawdown of -86.32%. Use the drawdown chart below to compare losses from any high point for PLTM and DGZ.

Drawdown Indicators

	PLTM	DGZ	Difference
Max Drawdown Largest peak-to-trough decline	-42.32%	-86.32%	+44.00%
Max Drawdown (1Y) Largest decline over 1 year	-40.62%	-38.32%	-2.30%
Max Drawdown (3Y) Largest decline over 3 years	-40.62%	-59.54%	+18.92%
Max Drawdown (5Y) Largest decline over 5 years	-40.62%	-61.54%	+20.92%
Max Drawdown (10Y) Largest decline over 10 years	—	-71.49%	—
Current Drawdown Current decline from peak	-40.62%	-80.51%	+39.89%
Average Drawdown Average peak-to-trough decline	-18.66%	-57.80%	+39.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.37%	22.24%	-3.87%

Volatility

PLTM vs. DGZ - Volatility Comparison

The current volatility for GraniteShares Platinum Trust (PLTM) is 11.52%, while DB Gold Short Exchange Traded Notes (DGZ) has a volatility of 45.91%. This indicates that PLTM 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.

Volatility by Period

	PLTM	DGZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.52%	45.91%	-34.39%
Volatility (6M) Calculated over the trailing 6-month period	46.02%	58.66%	-12.64%
Volatility (1Y) Calculated over the trailing 1-year period	51.35%	69.62%	-18.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.99%	36.50%	-3.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.10%	28.17%	+2.93%

PLTM vs. DGZ - Expense Ratio Comparison

PLTM has a 0.50% expense ratio, which is lower than DGZ's 0.75% expense ratio.

Dividends

PLTM vs. DGZ - Dividend Comparison

Neither PLTM nor DGZ has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both PLTM and DGZ in my portfolio?

PLTM and DGZ have a correlation of -0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PLTM or DGZ?

DGZ has higher volatility (45.91%) compared to PLTM (11.52%). In terms of maximum drawdown, PLTM dropped -42.32% vs DGZ's -86.32%.

Which ETF is better, PLTM or DGZ?

On 5-year performance, PLTM leads with 7.99% vs -9.28% for DGZ. On fees, PLTM is cheaper at 0.50% per year. On volatility, PLTM has been the lower-risk option at 11.52%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PLTM or DGZ?

Over the 5-year period, PLTM has performed better with a 7.99% return vs -9.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PLTM or DGZ?

PLTM is cheaper with a 0.50% expense ratio, compared with 0.75% for DGZ.

Which ETF pays a higher dividend yield, PLTM or DGZ?

PLTM and DGZ have nearly identical dividend yields, around 0.00%.

What is the main difference between PLTM and DGZ?

PLTM is categorized as Precious Metals, while DGZ is Inverse Commodities. PLTM tracks Platinum London PM Fix ($/ozt), while DGZ tracks Deutsche Bank Liquid Commodity Index - Optimum Yield Gold Excess Return (-100%). They also come from different issuers: GraniteShares and Deutsche Bank. Their fees differ too: 0.50% for PLTM and 0.75% for DGZ.

Which has better risk-adjusted returns?

PLTM currently has the higher Sharpe Ratio (0.53 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.