UGL vs. GDX
Compare and contrast key facts about ProShares Ultra Gold (UGL) and VanEck Vectors Gold Miners ETF (GDX).
UGL and GDX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. UGL is a passively managed fund by ProShares that tracks the performance of the Gold bullion (200%). It was launched on Dec 1, 2008. GDX is a passively managed fund by VanEck that tracks the performance of the NYSE Arca Gold Miners Index. It was launched on May 22, 2006. Both UGL and GDX are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: UGL or GDX.
Performance
UGL vs. GDX - Performance Comparison
Returns By Period
In the year-to-date period, UGL achieves a 56.58% return, which is significantly higher than GDX's 23.44% return. Over the past 10 years, UGL has outperformed GDX with an annualized return of 9.67%, while GDX has yielded a comparatively lower 7.52% annualized return.
UGL
56.58%
-1.62%
27.58%
66.24%
16.92%
9.67%
GDX
23.44%
-11.51%
8.56%
33.02%
8.79%
7.52%
Key characteristics
| UGL | GDX | |
|---|---|---|
| Sharpe Ratio | 2.24 | 1.03 |
| Sortino Ratio | 2.75 | 1.54 |
| Omega Ratio | 1.36 | 1.19 |
| Calmar Ratio | 1.28 | 0.58 |
| Martin Ratio | 12.23 | 4.10 |
| Ulcer Index | 5.42% | 8.06% |
| Daily Std Dev | 29.60% | 32.11% |
| Max Drawdown | -75.93% | -80.57% |
| Current Drawdown | -17.74% | -35.45% |
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UGL vs. GDX - Expense Ratio Comparison
UGL has a 0.95% expense ratio, which is higher than GDX's 0.53% expense ratio.
Correlation
The correlation between UGL and GDX is 0.77, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Risk-Adjusted Performance
UGL vs. GDX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Gold (UGL) and VanEck Vectors Gold Miners ETF (GDX). 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.
Dividends
UGL vs. GDX - Dividend Comparison
UGL has not paid dividends to shareholders, while GDX's dividend yield for the trailing twelve months is around 1.31%.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
GDX VanEck Vectors Gold Miners ETF | 1.31% | 1.61% | 1.66% | 1.67% | 0.53% | 0.65% | 0.50% | 0.76% | 0.26% | 0.85% | 0.66% | 0.90% |
Drawdowns
UGL vs. GDX - Drawdown Comparison
The maximum UGL drawdown since its inception was -75.93%, smaller than the maximum GDX drawdown of -80.57%. Use the drawdown chart below to compare losses from any high point for UGL and GDX. For additional features, visit the drawdowns tool.
Volatility
UGL vs. GDX - Volatility Comparison
ProShares Ultra Gold (UGL) has a higher volatility of 11.42% compared to VanEck Vectors Gold Miners ETF (GDX) at 10.23%. This indicates that UGL's price experiences larger fluctuations and is considered to be riskier than GDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.