SILJ vs. GLL
SILJ (Amplify Junior Silver Miners ETF) and GLL (ProShares UltraShort Gold) are both exchange-traded funds - SILJ is a Silver fund tracking the Nasdaq Junior Silver Miners Index, while GLL is a Leveraged Commodities fund tracking the Bloomberg Gold (-200%). Both are passively managed. Over the past 10 years, SILJ returned 5.23%/yr vs -20.81%/yr for GLL. At a correlation of -0.68, they often move in opposite directions. SILJ charges 0.69%/yr vs 0.95%/yr for GLL.
Performance
SILJ vs. GLL - Performance Comparison
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Returns By Period
In the year-to-date period, SILJ achieves a -14.24% return, which is significantly lower than GLL's 3.56% return. Over the past 10 years, SILJ has outperformed GLL with an annualized return of 5.23%, while GLL has yielded a comparatively lower -20.81% annualized return.
SILJ
- 1D
- -0.25%
- 1M
- -15.01%
- 6M
- -29.16%
- YTD
- -14.24%
- 1Y
- 61.72%
- 3Y*
- 36.21%
- 5Y*
- 13.63%
- 10Y*
- 5.23%
- ALL TIME*
- 2.39%
GLL
- 1D
- 0.33%
- 1M
- 10.35%
- 6M
- 17.03%
- YTD
- 3.56%
- 1Y
- -37.98%
- 3Y*
- -37.61%
- 5Y*
- -27.32%
- 10Y*
- -20.81%
- ALL TIME*
- -21.71%
SILJ vs. GLL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SILJ Amplify Junior Silver Miners ETF | -14.24% | 183.89% | 6.39% | -5.21% | -15.42% | -23.21% | 33.00% | 57.06% | -27.95% | -5.65% |
GLL ProShares UltraShort Gold | 3.56% | -62.81% | -33.33% | -14.91% | -2.12% | 1.66% | -41.47% | -26.95% | 5.39% | -23.67% |
Correlation
The correlation between SILJ and GLL is -0.77, 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 | -0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.73 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.72 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.71 |
Correlation (All Time) Calculated using the full available price history since Nov 29, 2012 | -0.68 |
The correlation between SILJ and GLL has been stable across timeframes, ranging from -0.77 to -0.68 - a consistent structural relationship.
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Return for Risk
SILJ vs. GLL — Risk / Return Rank
SILJ
GLL
SILJ vs. GLL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amplify Junior Silver Miners ETF (SILJ) 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.
| SILJ | GLL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.76 | ||
| Sortino ratioReturn per unit of downside risk | +2.48 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 0.90 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 1.51 | -0.59 | +2.09 |
| Martin ratioReturn relative to average drawdown | 3.30 | -0.85 | +4.16 |
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Drawdowns
SILJ vs. GLL - Drawdown Comparison
The maximum SILJ drawdown since its inception was -79.04%, smaller than the maximum GLL drawdown of -99.24%. Use the drawdown chart below to compare losses from any high point for SILJ and GLL.
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Drawdown Indicators
| SILJ | GLL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.04% | -99.24% | +20.20% |
Max Drawdown (1Y)Largest decline over 1 year | -41.12% | -65.10% | +23.98% |
Max Drawdown (3Y)Largest decline over 3 years | -41.12% | -87.95% | +46.83% |
Max Drawdown (5Y)Largest decline over 5 years | -48.29% | -89.76% | +41.47% |
Max Drawdown (10Y)Largest decline over 10 years | -70.06% | -95.76% | +25.70% |
Current DrawdownCurrent decline from peak | -41.12% | -98.71% | +57.59% |
Average DrawdownAverage peak-to-trough decline | -41.36% | -85.21% | +43.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.73% | 44.53% | -25.80% |
Volatility
SILJ vs. GLL - Volatility Comparison
Amplify Junior Silver Miners ETF (SILJ) has a higher volatility of 13.31% compared to ProShares UltraShort Gold (GLL) at 12.38%. This indicates that SILJ'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
| SILJ | GLL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.31% | 12.38% | +0.93% |
Volatility (6M)Calculated over the trailing 6-month period | 47.78% | 46.47% | +1.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.99% | 55.29% | +2.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 45.00% | 36.74% | +8.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 46.34% | 32.43% | +13.91% |
SILJ vs. GLL - Expense Ratio Comparison
SILJ has a 0.69% expense ratio, which is lower than GLL's 0.95% expense ratio.
Dividends
SILJ vs. GLL - Dividend Comparison
SILJ's dividend yield for the trailing twelve months is around 2.34%, 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% |
SILJ Amplify Junior Silver Miners ETF | 2.34% | 2.00% | 7.26% | 0.01% | 0.05% | 0.36% | 1.23% | 1.45% | 1.66% | 0.00% | 0.52% | 2.46% |
Frequently Asked Questions
SILJ and GLL have a correlation of -0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SILJ has higher volatility (13.31%) compared to GLL (12.38%). In terms of maximum drawdown, SILJ dropped -79.04% vs GLL's -99.24%.
On 10-year performance, SILJ leads with 5.23% vs -20.81% for GLL. On fees, SILJ is cheaper at 0.69% per year. On volatility, GLL has been the lower-risk option at 12.38%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SILJ has performed better with a 5.23% return vs -20.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SILJ is cheaper with a 0.69% expense ratio, compared with 0.95% for GLL.
SILJ has the higher dividend yield at 2.34%, compared with 0.00% for GLL.
SILJ is categorized as Silver, while GLL is Leveraged Commodities. SILJ tracks Nasdaq Junior Silver Miners Index, while GLL tracks Bloomberg Gold (-200%). They also come from different issuers: Amplify and ProShares. Their fees differ too: 0.69% for SILJ and 0.95% for GLL.
SILJ currently has the higher Sharpe Ratio (1.07 vs -0.69), 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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