UGL vs. COAGX

Last updated Apr 2, 2026

Compare and contrast key facts about ProShares Ultra Gold (UGL) and Caldwell & Orkin - Gator Capital Long/Short Fund (COAGX).

UGL is a passively managed fund by ProShares that tracks the performance of the Bloomberg Gold Subindex (200%). It was launched on Dec 1, 2008. COAGX is managed by Caldwell & Orkin. It was launched on Aug 23, 1992.

Performance

UGL vs. COAGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Gold (UGL) and Caldwell & Orkin - Gator Capital Long/Short Fund (COAGX). The values are adjusted to include any dividend payments, if applicable.

UGL vs. COAGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UGL ProShares Ultra Gold	14.36%	137.57%	46.36%	15.56%	-7.59%	-12.30%	39.04%	31.11%	-8.02%	22.50%
COAGX Caldwell & Orkin - Gator Capital Long/Short Fund	3.61%	17.44%	35.58%	31.98%	-7.18%	27.17%	11.06%	24.20%	-15.53%	0.93%

Returns By Period

UGL

• 1D: 3.30%
• 1M: -21.80%
• YTD: 14.36%
• 6M: 37.39%
• 1Y: 98.00%
• 3Y*: 59.13%
• 5Y*: 35.67%
• 10Y*: 20.61%

COAGX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

UGL vs. COAGX - Expense Ratio Comparison

UGL has a 0.95% expense ratio, which is lower than COAGX's 2.00% expense ratio.

COAGX

Caldwell & Orkin - Gator Capital Long/Short Fund

UGL

ProShares Ultra Gold

Return for Risk

UGL vs. COAGX — Risk / Return Rank

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

UGL

UGL Risk / Return Rank: 81
UGL Sharpe Ratio Rank: 85
UGL Sortino Ratio Rank: 79
UGL Omega Ratio Rank: 79
UGL Calmar Ratio Rank: 84
UGL Martin Ratio Rank: 78

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.

UGL vs. COAGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Gold (UGL) and Caldwell & Orkin - Gator Capital Long/Short Fund (COAGX). 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.

	UGL	COAGX	Difference
Sharpe ratio Return per unit of total volatility	1.78	—	—
Sortino ratio Return per unit of downside risk	2.11	—	—
Omega ratio Gain probability vs. loss probability	1.31	—	—
Calmar ratio Return relative to maximum drawdown	2.59	—	—
Martin ratio Return relative to average drawdown	8.76	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	UGL	COAGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.78	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.00	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.64	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	—	—

Correlation

The correlation between UGL and COAGX is 0.04, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

UGL vs. COAGX - Dividend Comparison

Neither UGL nor COAGX has paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
COAGX Caldwell & Orkin - Gator Capital Long/Short Fund	0.00%	0.00%	0.81%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	5.81%

Drawdowns

Drawdown Indicators

	UGL	COAGX	Difference
Max Drawdown Largest peak-to-trough decline	-75.93%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-37.56%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-40.23%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-46.23%	—	—
Current Drawdown Current decline from peak	-25.85%	—	—
Average Drawdown Average peak-to-trough decline	-43.76%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	11.11%	—	—

Volatility

Volatility by Period

	UGL	COAGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.81%	—	—
Volatility (6M) Calculated over the trailing 6-month period	49.09%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	55.46%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.70%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.19%	—	—