SGDJ vs. GLL
SGDJ (Sprott Junior Gold Miners ETF) and GLL (ProShares UltraShort Gold) are both exchange-traded funds - SGDJ is a Gold fund tracking the Solactive Junior Gold Miners Custom Factors Index, while GLL is a Leveraged Commodities fund tracking the Bloomberg Gold (-200%). Both are passively managed. Over the past 10 years, SGDJ returned 8.03%/yr vs -20.82%/yr for GLL. Their -0.75 correlation means they have often moved in opposite directions in the past. SGDJ charges 0.50%/yr vs 0.95%/yr for GLL.
Performance
SGDJ vs. GLL - Performance Comparison
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Returns By Period
In the year-to-date period, SGDJ achieves a -9.52% return, which is significantly lower than GLL's 1.26% return. Over the past 10 years, SGDJ has outperformed GLL with an annualized return of 8.03%, while GLL has yielded a comparatively lower -20.82% annualized return.
SGDJ
- 1D
- 4.19%
- 1M
- -2.98%
- 6M
- -18.78%
- YTD
- -9.52%
- 1Y
- 70.50%
- 3Y*
- 47.29%
- 5Y*
- 16.55%
- 10Y*
- 8.03%
- ALL TIME*
- 13.43%
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 | |
| $3.49M | $3.45M | $5.08M |
SGDJ vs. GLL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SGDJ Sprott Junior Gold Miners ETF | -9.52% | 174.44% | 19.35% | 6.66% | -27.60% | -15.12% | 47.91% | 37.00% | -25.63% | 5.94% |
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 SGDJ and GLL is -0.80, 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. | -0.80 |
Correlation (3Y) Balances recent behavior with more history. | -0.78 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.78 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.75 |
Correlation (All Time) Calculated using the full available price history since Mar 31, 2015 | -0.75 |
The correlation between SGDJ and GLL has been stable across timeframes, ranging from -0.80 to -0.75 - a consistent structural relationship.
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Return for Risk
SGDJ vs. GLL — Risk / Return Rank
SGDJ
GLL
SGDJ vs. GLL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Sprott Junior Gold Miners ETF (SGDJ) 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.
| SGDJ | GLL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.06 | ||
| Sortino ratioReturn per unit of downside risk | +2.72 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 0.89 | +0.34 |
| Calmar ratioReturn relative to maximum drawdown | 1.87 | -0.61 | +2.48 |
| Martin ratioReturn relative to average drawdown | 3.88 | -0.89 | +4.77 |
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Drawdowns
SGDJ vs. GLL - Drawdown Comparison
The maximum SGDJ drawdown since its inception was -59.27%, smaller than the maximum GLL drawdown of -99.24%. Use the drawdown chart below to compare losses from any high point for SGDJ and GLL.
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Drawdown Indicators
| SGDJ | GLL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.27% | -99.24% | +39.97% |
Max Drawdown (1Y)Largest decline over 1 year | -37.98% | -64.23% | +26.25% |
Max Drawdown (3Y)Largest decline over 3 years | -37.98% | -87.95% | +49.97% |
Max Drawdown (5Y)Largest decline over 5 years | -52.66% | -89.76% | +37.10% |
Max Drawdown (10Y)Largest decline over 10 years | -59.20% | -95.76% | +36.56% |
Current DrawdownCurrent decline from peak | -34.03% | -98.74% | +64.71% |
Average DrawdownAverage peak-to-trough decline | -26.34% | -85.24% | +58.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.22% | 44.13% | -25.91% |
Volatility
SGDJ vs. GLL - Volatility Comparison
Sprott Junior Gold Miners ETF (SGDJ) has a higher volatility of 13.95% compared to ProShares UltraShort Gold (GLL) at 11.92%. This indicates that SGDJ'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
| SGDJ | GLL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.95% | 11.92% | +2.03% |
Volatility (6M)Calculated over the trailing 6-month period | 40.00% | 41.51% | -1.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 52.51% | 55.36% | -2.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 41.32% | 36.89% | +4.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.93% | 32.49% | +8.44% |
SGDJ vs. GLL - Expense Ratio Comparison
SGDJ has a 0.50% expense ratio, which is lower than GLL's 0.95% expense ratio.
Dividends
SGDJ vs. GLL - Dividend Comparison
SGDJ's dividend yield for the trailing twelve months is around 9.25%, while GLL has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GLL ProShares UltraShort 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% |
SGDJ Sprott Junior Gold Miners ETF | 9.25% | 8.37% | 6.55% | 4.55% | 2.46% | 2.20% | 1.97% | 0.65% | 0.00% | 0.14% | 1.77% | 0.85% |
Frequently Asked Questions
SGDJ and GLL have a correlation of -0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SGDJ has higher volatility (13.95%) compared to GLL (11.92%). In terms of maximum drawdown, SGDJ dropped -59.27% vs GLL's -99.24%.
On 10-year performance, SGDJ leads with 8.03% vs -20.82% for GLL. On fees, SGDJ is cheaper at 0.50% per year. On volatility, GLL has been the lower-risk option at 11.92%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SGDJ has performed better with a 8.03% return vs -20.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SGDJ is cheaper with a 0.50% expense ratio, compared with 0.95% for GLL.
SGDJ has the higher dividend yield at 9.25%, compared with 0.00% for GLL.
SGDJ is categorized as Gold, while GLL is Leveraged Commodities. SGDJ tracks Solactive Junior Gold Miners Custom Factors Index, while GLL tracks Bloomberg Gold (-200%). They also come from different issuers: Sprott and ProShares. Their fees differ too: 0.50% for SGDJ and 0.95% for GLL.
SGDJ currently has the higher Sharpe Ratio (1.35 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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