UGLD vs. GLDW

Last updated Jun 30, 2026

UGLD (Direxion Daily Gold Bull 2X ETF) and GLDW (Roundhill Gold WeeklyPay ETF) are both exchange-traded funds - UGLD is a Leveraged Commodities fund actively managed by Direxion, while GLDW is a Derivative Income fund actively managed by State Street. Both are actively managed. With a 1.00 correlation, they move nearly in lockstep. UGLD charges 1.07%/yr vs 0.99%/yr for GLDW.

Performance

UGLD vs. GLDW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Gold Bull 2X ETF (UGLD) and Roundhill Gold WeeklyPay ETF (GLDW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

UGLD

• 1D: -2.66%
• 1M: -23.12%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

GLDW

• 1D: -1.70%
• 1M: -13.96%
• YTD: -10.88%
• 6M: -11.46%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

UGLD vs. GLDW - Yearly Performance Comparison

	2026 (YTD)
UGLD Direxion Daily Gold Bull 2X ETF	-19.30%
GLDW Roundhill Gold WeeklyPay ETF	-11.84%

Correlation

The correlation between UGLD and GLDW is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 28, 2026	1.00

Return for Risk

UGLD vs. GLDW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Gold Bull 2X ETF (UGLD) and Roundhill Gold WeeklyPay ETF (GLDW). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

UGLD vs. GLDW - Drawdown Comparison

The maximum UGLD drawdown since its inception was -24.16%, smaller than the maximum GLDW drawdown of -32.25%. Use the drawdown chart below to compare losses from any high point for UGLD and GLDW.

Drawdown Indicators

	UGLD	GLDW	Difference
Max Drawdown Largest peak-to-trough decline	-24.16%	-32.25%	+8.09%
Current Drawdown Current decline from peak	-23.12%	-31.62%	+8.50%
Average Drawdown Average peak-to-trough decline	-12.33%	-10.82%	-1.51%

Volatility

Volatility by Period

	UGLD	GLDW	Difference
Volatility (1Y) Calculated over the trailing 1-year period	59.10%	37.17%	+21.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	59.10%	37.17%	+21.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	59.10%	37.17%	+21.93%

UGLD vs. GLDW - Expense Ratio Comparison

UGLD has a 1.07% expense ratio, which is higher than GLDW's 0.99% expense ratio.

Dividends

UGLD vs. GLDW - Dividend Comparison

UGLD's dividend yield for the trailing twelve months is around 0.24%, less than GLDW's 24.53% yield.

Position	TTM	2025
GLDW Roundhill Gold WeeklyPay ETF	24.53%	3.75%
UGLD Direxion Daily Gold Bull 2X ETF	0.24%	0.00%

Frequently Asked Questions

Can I hold both UGLD and GLDW in my portfolio?

With a correlation of 1.00, UGLD and GLDW 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 ETF is better, UGLD or GLDW?

On fees, GLDW is cheaper at 0.99% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, UGLD or GLDW?

GLDW is cheaper with a 0.99% expense ratio, compared with 1.07% for UGLD.

Which ETF pays a higher dividend yield, UGLD or GLDW?

GLDW has the higher dividend yield at 24.53%, compared with 0.24% for UGLD.

What is the main difference between UGLD and GLDW?

UGLD is categorized as Leveraged Commodities, while GLDW is Derivative Income. They also come from different issuers: Direxion and State Street. Their fees differ too: 1.07% for UGLD and 0.99% for GLDW.