PPLT vs. GLL
PPLT (abrdn Physical Platinum Shares ETF) and GLL (ProShares UltraShort Gold) are both exchange-traded funds - PPLT is a Precious Metals fund tracking the LBMA Platinum Price PM, while GLL is a Leveraged Commodities fund tracking the Bloomberg Gold (-200%). Both are passively managed. Over the past 10 years, PPLT returned 2.98%/yr vs -20.82%/yr for GLL. Their -0.60 correlation means they have often moved in opposite directions in the past. PPLT charges 0.60%/yr vs 0.95%/yr for GLL.
Performance
PPLT vs. GLL - Performance Comparison
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Returns By Period
In the year-to-date period, PPLT achieves a -20.83% return, which is significantly lower than GLL's 1.26% return. Over the past 10 years, PPLT has outperformed GLL with an annualized return of 2.98%, while GLL has yielded a comparatively lower -20.82% annualized return.
PPLT
- 1D
- -1.34%
- 1M
- 0.27%
- 6M
- -24.17%
- YTD
- -20.83%
- 1Y
- 22.95%
- 3Y*
- 20.12%
- 5Y*
- 9.09%
- 10Y*
- 2.98%
- ALL TIME*
- -0.41%
GLL
- 1D
- -0.08%
- 1M
- 3.32%
- 6M
- 23.22%
- YTD
- 1.26%
- 1Y
- -39.18%
- 3Y*
- -38.64%
- 5Y*
- -27.51%
- 10Y*
- -20.82%
- ALL TIME*
- -21.77%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $40.14M | $37.19M | $59.19M | |
| $23.87M | $27.98M | $37.99M |
PPLT vs. GLL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PPLT abrdn Physical Platinum Shares ETF | -20.83% | 124.48% | -8.90% | -8.18% | 10.43% | -10.75% | 10.78% | 20.85% | -14.95% | 2.38% |
GLL ProShares UltraShort Gold | 1.26% | -62.81% | -33.33% | -14.91% | -2.12% | 1.66% | -41.47% | -26.95% | 5.39% | -23.67% |
Correlation
The correlation between PPLT 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. | -0.58 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.57 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.56 |
Correlation (All Time) Calculated using the full available price history since Jan 8, 2010 | -0.60 |
The correlation between PPLT and GLL shifts across timeframes, from -0.71 (1 year) to -0.56 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
PPLT vs. GLL — Risk / Return Rank
PPLT
GLL
PPLT vs. GLL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for abrdn Physical Platinum Shares ETF (PPLT) 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.
| PPLT | GLL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.17 | ||
| Sortino ratioReturn per unit of downside risk | +1.86 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 0.89 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 0.52 | -0.61 | +1.14 |
| Martin ratioReturn relative to average drawdown | 1.01 | -0.89 | +1.89 |
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Drawdowns
PPLT vs. GLL - Drawdown Comparison
The maximum PPLT drawdown since its inception was -70.73%, smaller than the maximum GLL drawdown of -99.24%. Use the drawdown chart below to compare losses from any high point for PPLT and GLL.
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Drawdown Indicators
| PPLT | GLL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.73% | -99.24% | +28.51% |
Max Drawdown (1Y)Largest decline over 1 year | -43.98% | -64.23% | +20.25% |
Max Drawdown (3Y)Largest decline over 3 years | -43.98% | -87.95% | +43.97% |
Max Drawdown (5Y)Largest decline over 5 years | -43.98% | -89.76% | +45.78% |
Max Drawdown (10Y)Largest decline over 10 years | -51.14% | -95.76% | +44.62% |
Current DrawdownCurrent decline from peak | -41.49% | -98.74% | +57.25% |
Average DrawdownAverage peak-to-trough decline | -39.95% | -85.24% | +45.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.88% | 44.13% | -21.25% |
Volatility
PPLT vs. GLL - Volatility Comparison
The current volatility for abrdn Physical Platinum Shares ETF (PPLT) is 8.56%, while ProShares UltraShort Gold (GLL) has a volatility of 11.92%. This indicates that PPLT 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
| PPLT | GLL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.56% | 11.92% | -3.36% |
Volatility (6M)Calculated over the trailing 6-month period | 32.25% | 41.51% | -9.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 49.84% | 55.36% | -5.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.85% | 36.89% | -4.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.29% | 32.49% | -3.20% |
PPLT vs. GLL - Expense Ratio Comparison
PPLT has a 0.60% expense ratio, which is lower than GLL's 0.95% expense ratio.
Dividends
PPLT vs. GLL - Dividend Comparison
Neither PPLT nor GLL has paid dividends to shareholders.
Frequently Asked Questions
PPLT 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 (11.92%) compared to PPLT (8.56%). In terms of maximum drawdown, PPLT dropped -70.73% vs GLL's -99.24%.
On 10-year performance, PPLT leads with 2.98% vs -20.82% for GLL. On fees, PPLT is cheaper at 0.60% per year. On volatility, PPLT has been the lower-risk option at 8.56%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, PPLT has performed better with a 2.98% return vs -20.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PPLT is cheaper with a 0.60% expense ratio, compared with 0.95% for GLL.
PPLT and GLL have nearly identical dividend yields, around 0.00%.
PPLT is categorized as Precious Metals, while GLL is Leveraged Commodities. PPLT tracks LBMA Platinum Price PM, while GLL tracks Bloomberg Gold (-200%). They also come from different issuers: abrdn and ProShares. Their fees differ too: 0.60% for PPLT and 0.95% for GLL.
PPLT currently has the higher Sharpe Ratio (0.46 vs -0.71), 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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