SFHYX vs. UGL

Last updated Jun 6, 2026

SFHYX (Hundredfold Select Alternative Fund) and UGL (ProShares Ultra Gold) are both funds - SFHYX is a Tactical Allocation fund managed by Advisors Preferred, while UGL is a Leveraged Commodities fund tracking the Bloomberg Gold Subindex (200%). Over the past 10 years, SFHYX returned 7.37%/yr vs 17.75%/yr for UGL. At a 0.16 correlation, their price movements are largely independent. SFHYX charges 2.45%/yr vs 0.95%/yr for UGL.

Performance

SFHYX vs. UGL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hundredfold Select Alternative Fund (SFHYX) and ProShares Ultra Gold (UGL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SFHYX achieves a 2.10% return, which is significantly higher than UGL's -7.82% return. Over the past 10 years, SFHYX has underperformed UGL with an annualized return of 7.37%, while UGL has yielded a comparatively higher 17.75% annualized return.

SFHYX

• 1D: 0.00%
• 1M: 0.40%
• YTD: 2.10%
• 6M: 3.28%
• 1Y: 9.94%
• 3Y*: 8.98%
• 5Y*: 2.37%
• 10Y*: 7.37%

UGL

• 1D: -7.30%
• 1M: -17.17%
• YTD: -7.82%
• 6M: -3.83%
• 1Y: 46.42%
• 3Y*: 49.47%
• 5Y*: 25.50%
• 10Y*: 17.75%

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

SFHYX vs. UGL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SFHYX Hundredfold Select Alternative Fund	2.10%	10.99%	2.78%	9.94%	-10.31%	8.05%	37.42%	9.31%	-2.80%	8.95%
UGL ProShares Ultra Gold	-7.82%	137.57%	46.36%	15.56%	-7.59%	-12.30%	39.04%	31.11%	-8.02%	22.50%

Correlation

The correlation between SFHYX and UGL is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (3Y) Calculated over the trailing 3-year period	0.32
Correlation (5Y) Calculated over the trailing 5-year period	0.29
Correlation (10Y) Calculated over the trailing 10-year period	0.21
Correlation (All Time) Calculated using the full available price history since Dec 4, 2008	0.16

The correlation between SFHYX and UGL shifts across timeframes, from 0.16 (all time) to 0.32 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

SFHYX vs. UGL — Risk / Return Rank

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

SFHYX

SFHYX Risk / Return Rank: 53
SFHYX Sharpe Ratio Rank: 59
SFHYX Sortino Ratio Rank: 53
SFHYX Omega Ratio Rank: 66
SFHYX Calmar Ratio Rank: 51
SFHYX Martin Ratio Rank: 34

UGL

UGL Risk / Return Rank: 24
UGL Sharpe Ratio Rank: 24
UGL Sortino Ratio Rank: 24
UGL Omega Ratio Rank: 28
UGL Calmar Ratio Rank: 23
UGL Martin Ratio Rank: 21

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.

SFHYX vs. UGL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hundredfold Select Alternative Fund (SFHYX) and ProShares Ultra Gold (UGL). 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.

	SFHYX	UGL	Difference
Sharpe ratio: Return per unit of total volatility	2.20	0.80	+1.39
Sortino ratio: Return per unit of downside risk	2.94	1.26	+1.68
Omega ratio: Gain probability vs. loss probability	1.44	1.19	+0.25
Calmar ratio: Return relative to maximum drawdown	2.65	1.06	+1.58
Martin ratio: Return relative to average drawdown	7.32	2.56	+4.76
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SFHYX vs. UGL - Sharpe Ratio Comparison

The current SFHYX Sharpe Ratio is 2.20, which is higher than the UGL Sharpe Ratio of 0.80. The chart below compares the historical Sharpe Ratios of SFHYX and UGL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SFHYX	UGL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.20	0.80	+1.39
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.38	0.70	-0.32
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.18	0.55	+0.63
Sharpe Ratio (All Time) Calculated using the full available price history	1.27	0.38	+0.89

Drawdowns

SFHYX vs. UGL - Drawdown Comparison

The maximum SFHYX drawdown since its inception was -17.34%, smaller than the maximum UGL drawdown of -75.93%. Use the drawdown chart below to compare losses from any high point for SFHYX and UGL.

Drawdown Indicators

	SFHYX	UGL	Difference
Max Drawdown Largest peak-to-trough decline	-17.34%	-75.93%	+58.59%
Max Drawdown (1Y) Largest decline over 1 year	-3.75%	-40.22%	+36.47%
Max Drawdown (3Y) Largest decline over 3 years	-5.80%	-40.22%	+34.42%
Max Drawdown (5Y) Largest decline over 5 years	-14.37%	-40.23%	+25.86%
Max Drawdown (10Y) Largest decline over 10 years	-14.37%	-46.23%	+31.86%
Current Drawdown Current decline from peak	-0.57%	-40.22%	+39.65%
Average Drawdown Average peak-to-trough decline	-2.74%	-43.63%	+40.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.35%	16.70%	-15.35%

Volatility

SFHYX vs. UGL - Volatility Comparison

The current volatility for Hundredfold Select Alternative Fund (SFHYX) is 1.52%, while ProShares Ultra Gold (UGL) has a volatility of 11.42%. This indicates that SFHYX experiences smaller price fluctuations and is considered to be less risky than UGL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SFHYX	UGL	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.52%	11.42%	-9.90%
Volatility (6M) Calculated over the trailing 6-month period	3.64%	47.43%	-43.79%
Volatility (1Y) Calculated over the trailing 1-year period	4.52%	53.42%	-48.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.21%	36.32%	-30.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.28%	32.42%	-26.14%

SFHYX vs. UGL - Expense Ratio Comparison

SFHYX has a 2.45% expense ratio, which is higher than UGL's 0.95% expense ratio.

Dividends

SFHYX vs. UGL - Dividend Comparison

SFHYX's dividend yield for the trailing twelve months is around 9.35%, while UGL has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SFHYX Hundredfold Select Alternative Fund	9.35%	9.54%	5.68%	4.62%	4.19%	10.21%	13.57%	4.95%	2.55%	10.24%	4.93%	0.71%
UGL ProShares Ultra Gold	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SFHYX and UGL in my portfolio?

SFHYX and UGL have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SFHYX or UGL?

UGL has higher volatility (11.42%) compared to SFHYX (1.52%). In terms of maximum drawdown, SFHYX dropped -17.34% vs UGL's -75.93%.

Which has better risk-adjusted returns?

SFHYX currently has the higher Sharpe Ratio (2.20 vs 0.80), 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.