PLTM vs. GLL
PLTM (GraniteShares Platinum Trust) and GLL (ProShares UltraShort Gold) are both exchange-traded funds - PLTM is a Precious Metals fund tracking the Platinum London PM Fix ($/ozt), while GLL is a Leveraged Commodities fund tracking the Bloomberg Gold (-200%). Both are passively managed. Over the past 5 years, PLTM returned 8.97%/yr vs -27.47%/yr for GLL. Their -0.53 correlation means they have often moved in opposite directions in the past. PLTM charges 0.50%/yr vs 0.95%/yr for GLL.
Performance
PLTM vs. GLL - Performance Comparison
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Returns By Period
In the year-to-date period, PLTM achieves a -19.56% return, which is significantly lower than GLL's 1.34% return.
PLTM
- 1D
- -0.13%
- 1M
- 2.06%
- 6M
- -22.81%
- YTD
- -19.56%
- 1Y
- 24.86%
- 3Y*
- 20.37%
- 5Y*
- 8.97%
- 10Y*
- —
- ALL TIME*
- 5.60%
GLL
- 1D
- 3.15%
- 1M
- 3.39%
- 6M
- 33.97%
- YTD
- 1.34%
- 1Y
- -39.14%
- 3Y*
- -38.51%
- 5Y*
- -27.47%
- 10Y*
- -20.49%
- ALL TIME*
- -21.77%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $38.26M | $37.47M | $59.93M | |
| $1.27M | $1.47M | $3.03M |
PLTM vs. GLL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
PLTM GraniteShares Platinum Trust | -19.56% | 124.46% | -8.91% | -8.10% | 10.83% | -10.52% | 10.87% | 20.76% | -20.92% |
GLL ProShares UltraShort Gold | 1.34% | -62.81% | -33.33% | -14.91% | -2.12% | 1.66% | -41.47% | -26.95% | 9.94% |
Correlation
The correlation between PLTM and GLL is -0.71, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.71 |
Correlation (3Y) Balances recent behavior with more history. | -0.57 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.56 |
Correlation (All Time) Calculated using the full available price history since Feb 5, 2018 | -0.53 |
The correlation between PLTM and GLL shifts across timeframes, from -0.71 (1 year) to -0.53 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PLTM vs. GLL — Risk / Return Rank
PLTM
GLL
PLTM vs. GLL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares Platinum Trust (PLTM) 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.
| PLTM | GLL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.29 | ||
| Sortino ratioReturn per unit of downside risk | +2.05 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 0.88 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 0.62 | -0.65 | +1.27 |
| Martin ratioReturn relative to average drawdown | 1.20 | -0.94 | +2.14 |
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Drawdowns
PLTM vs. GLL - Drawdown Comparison
The maximum PLTM drawdown since its inception was -44.07%, smaller than the maximum GLL drawdown of -99.24%. Use the drawdown chart below to compare losses from any high point for PLTM and GLL.
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Drawdown Indicators
| PLTM | GLL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.07% | -99.24% | +55.17% |
Max Drawdown (1Y)Largest decline over 1 year | -44.07% | -64.23% | +20.16% |
Max Drawdown (3Y)Largest decline over 3 years | -44.07% | -87.95% | +43.88% |
Max Drawdown (5Y)Largest decline over 5 years | -44.07% | -89.76% | +45.69% |
Max Drawdown (10Y)Largest decline over 10 years | — | -95.76% | — |
Current DrawdownCurrent decline from peak | -40.58% | -98.74% | +58.16% |
Average DrawdownAverage peak-to-trough decline | -18.95% | -85.23% | +66.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.75% | 44.60% | -21.85% |
Volatility
PLTM vs. GLL - Volatility Comparison
The current volatility for GraniteShares Platinum Trust (PLTM) is 9.19%, while ProShares UltraShort Gold (GLL) has a volatility of 12.63%. This indicates that PLTM 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
| PLTM | GLL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.19% | 12.63% | -3.44% |
Volatility (6M)Calculated over the trailing 6-month period | 38.75% | 45.01% | -6.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 50.54% | 55.39% | -4.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.15% | 36.88% | -3.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.14% | 32.48% | -1.34% |
PLTM vs. GLL - Expense Ratio Comparison
PLTM has a 0.50% expense ratio, which is lower than GLL's 0.95% expense ratio.
Dividends
PLTM vs. GLL - Dividend Comparison
Neither PLTM nor GLL has paid dividends to shareholders.
Frequently Asked Questions
PLTM and GLL have a correlation of -0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GLL has higher volatility (12.63%) compared to PLTM (9.19%). In terms of maximum drawdown, PLTM dropped -44.07% vs GLL's -99.24%.
On 5-year performance, PLTM leads with 8.97% vs -27.47% for GLL. On fees, PLTM is cheaper at 0.50% per year. On volatility, PLTM has been the lower-risk option at 9.19%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, PLTM has performed better with a 8.97% return vs -27.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PLTM is cheaper with a 0.50% expense ratio, compared with 0.95% for GLL.
PLTM and GLL have nearly identical dividend yields, around 0.00%.
PLTM is categorized as Precious Metals, while GLL is Leveraged Commodities. PLTM tracks Platinum London PM Fix ($/ozt), while GLL tracks Bloomberg Gold (-200%). They also come from different issuers: GraniteShares and ProShares. Their fees differ too: 0.50% for PLTM and 0.95% for GLL.
PLTM currently has the higher Sharpe Ratio (0.54 vs -0.75), 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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