UGL vs. YGLD

Last updated Jun 4, 2026

UGL (ProShares Ultra Gold) and YGLD (Simplify Gold Strategy PLUS Income ETF) are both exchange-traded funds - UGL is a Leveraged Commodities fund tracking the Bloomberg Gold Subindex (200%), while YGLD is a Gold fund actively managed by Simplify. UGL is passively managed, while YGLD is actively managed. Over the past year, UGL returned 51.67% vs 23.02% for YGLD. Their correlation of 0.93 suggests significant overlap in exposure. UGL charges 0.95%/yr vs 0.50%/yr for YGLD.

Performance

UGL vs. YGLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Gold (UGL) and Simplify Gold Strategy PLUS Income ETF (YGLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UGL achieves a -2.16% return, which is significantly higher than YGLD's -7.24% return.

UGL

• 1D: -2.00%
• 1M: -3.96%
• YTD: -2.16%
• 6M: 1.78%
• 1Y: 51.67%
• 3Y*: 53.18%
• 5Y*: 27.00%
• 10Y*: 18.45%

YGLD

• 1D: -1.34%
• 1M: -2.29%
• YTD: -7.24%
• 6M: -7.14%
• 1Y: 23.02%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

UGL vs. YGLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024
UGL ProShares Ultra Gold	-2.16%	137.57%	-1.68%
YGLD Simplify Gold Strategy PLUS Income ETF	-7.24%	96.82%	-4.17%

Correlation

The correlation between UGL and YGLD is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.93
Correlation (All Time) Calculated using the full available price history since Dec 4, 2024	0.93

The correlation between UGL and YGLD has been stable across timeframes, ranging from 0.93 to 0.93 - a consistent structural relationship.

Return for Risk

UGL vs. YGLD — Risk / Return Rank

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

UGL

UGL Risk / Return Rank: 27
UGL Sharpe Ratio Rank: 26
UGL Sortino Ratio Rank: 26
UGL Omega Ratio Rank: 31
UGL Calmar Ratio Rank: 28
UGL Martin Ratio Rank: 24

YGLD

YGLD Risk / Return Rank: 18
YGLD Sharpe Ratio Rank: 18
YGLD Sortino Ratio Rank: 18
YGLD Omega Ratio Rank: 21
YGLD Calmar Ratio Rank: 17
YGLD Martin Ratio Rank: 16

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. YGLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Gold (UGL) and Simplify Gold Strategy PLUS Income ETF (YGLD). 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	YGLD	Difference
Sharpe ratio Return per unit of total volatility	0.98	0.57	+0.41
Sortino ratio Return per unit of downside risk	1.43	0.96	+0.47
Omega ratio Gain probability vs. loss probability	1.21	1.14	+0.08
Calmar ratio Return relative to maximum drawdown	1.38	0.68	+0.71
Martin ratio Return relative to average drawdown	3.17	1.55	+1.62
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UGL vs. YGLD - Sharpe Ratio Comparison

The current UGL Sharpe Ratio is 0.98, which is higher than the YGLD Sharpe Ratio of 0.57. The chart below compares the historical Sharpe Ratios of UGL and YGLD, 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

	UGL	YGLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.98	0.57	+0.41
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.75	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.57	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	1.17	-0.78

Drawdowns

UGL vs. YGLD - Drawdown Comparison

The maximum UGL drawdown since its inception was -75.93%, which is greater than YGLD's maximum drawdown of -34.23%. Use the drawdown chart below to compare losses from any high point for UGL and YGLD.

Drawdown Indicators

	UGL	YGLD	Difference
Max Drawdown Largest peak-to-trough decline	-75.93%	-34.23%	-41.70%
Max Drawdown (1Y) Largest decline over 1 year	-37.56%	-34.23%	-3.33%
Max Drawdown (3Y) Largest decline over 3 years	-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	-36.56%	-33.06%	-3.50%
Average Drawdown Average peak-to-trough decline	-43.63%	-7.91%	-35.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.35%	14.86%	+1.49%

Volatility

UGL vs. YGLD - Volatility Comparison

ProShares Ultra Gold (UGL) has a higher volatility of 11.03% compared to Simplify Gold Strategy PLUS Income ETF (YGLD) at 8.70%. This indicates that UGL's price experiences larger fluctuations and is considered to be riskier than YGLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UGL	YGLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.03%	8.70%	+2.33%
Volatility (6M) Calculated over the trailing 6-month period	46.81%	34.68%	+12.13%
Volatility (1Y) Calculated over the trailing 1-year period	52.91%	40.43%	+12.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.18%	39.10%	-2.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.34%	39.10%	-6.76%

UGL vs. YGLD - Expense Ratio Comparison

UGL has a 0.95% expense ratio, which is higher than YGLD's 0.50% expense ratio.

Dividends

UGL vs. YGLD - Dividend Comparison

UGL has not paid dividends to shareholders, while YGLD's dividend yield for the trailing twelve months is around 19.23%.

Position	TTM	2025
UGL ProShares Ultra Gold	0.00%	0.00%
YGLD Simplify Gold Strategy PLUS Income ETF	19.23%	12.05%

Frequently Asked Questions

Can I hold both UGL and YGLD in my portfolio?

With a correlation of 0.93, UGL and YGLD move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, UGL or YGLD?

UGL has higher volatility (11.03%) compared to YGLD (8.70%). In terms of maximum drawdown, UGL dropped -75.93% vs YGLD's -34.23%.

Which ETF is better, UGL or YGLD?

On 1-year performance, UGL leads with 51.67% vs 23.02% for YGLD. On fees, YGLD is cheaper at 0.50% per year. On volatility, YGLD has been the lower-risk option at 8.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UGL or YGLD?

Over the 1-year period, UGL has performed better with a 51.67% return vs 23.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UGL or YGLD?

YGLD is cheaper with a 0.50% expense ratio, compared with 0.95% for UGL.

Which ETF pays a higher dividend yield, UGL or YGLD?

YGLD has the higher dividend yield at 19.23%, compared with 0.00% for UGL.

What is the main difference between UGL and YGLD?

UGL is categorized as Leveraged Commodities, while YGLD is Gold. They also come from different issuers: ProShares and Simplify. Their fees differ too: 0.95% for UGL and 0.50% for YGLD.

Which has better risk-adjusted returns?

UGL currently has the higher Sharpe Ratio (0.98 vs 0.57), 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.