UPAL vs. YGLD

Last updated Jul 21, 2026

UPAL (ProShares Ultra Palladium K-1 Free ETF) and YGLD (Simplify Gold Strategy PLUS Income ETF) are both exchange-traded funds - UPAL is a Leveraged Commodities fund actively managed by ProShares, while YGLD is a Gold fund actively managed by Simplify. Both are actively managed. A 0.63 correlation means they provide meaningful diversification when combined. UPAL charges 0.95%/yr vs 0.50%/yr for YGLD.

Performance

UPAL vs. YGLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Palladium K-1 Free ETF (UPAL) and Simplify Gold Strategy PLUS Income ETF (YGLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

UPAL

• 1D: 0.62%
• 1M: -6.90%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

YGLD

• 1D: -0.48%
• 1M: -7.59%
• 6M: -27.13%
• YTD: -20.75%
• 1Y: 6.44%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 27.96%

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

UPAL vs. YGLD - Yearly Performance Comparison

	2026 (YTD)
UPAL ProShares Ultra Palladium K-1 Free ETF	-41.70%
YGLD Simplify Gold Strategy PLUS Income ETF	-24.06%

Correlation

The correlation between UPAL and YGLD is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Apr 21, 2026	0.63

Return for Risk

UPAL vs. YGLD — Risk / Return Rank

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

UPAL

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

YGLD

YGLD Risk / Return Rank: 13
YGLD Sharpe Ratio Rank: 13
YGLD Sortino Ratio Rank: 14
YGLD Omega Ratio Rank: 15
YGLD Calmar Ratio Rank: 12
YGLD Martin Ratio Rank: 12

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.

UPAL vs. YGLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Palladium K-1 Free ETF (UPAL) 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.

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.

	UPAL	YGLD	Difference
Sharpe ratio: Return per unit of total volatility	—	0.15	—
Sortino ratio: Return per unit of downside risk	—	0.48	—
Omega ratio: Gain probability vs. loss probability	—	1.07	—
Calmar ratio: Return relative to maximum drawdown	—	0.15	—
Martin ratio: Return relative to average drawdown	—	0.32	—

Drawdowns

UPAL vs. YGLD - Drawdown Comparison

The maximum UPAL drawdown since its inception was -48.54%, which is greater than YGLD's maximum drawdown of -43.35%. Use the drawdown chart below to compare losses from any high point for UPAL and YGLD.

Drawdown Indicators

	UPAL	YGLD	Difference
Max Drawdown Largest peak-to-trough decline	-48.54%	-43.35%	-5.19%
Max Drawdown (1Y) Largest decline over 1 year	—	-43.35%	—
Current Drawdown Current decline from peak	-41.70%	-42.81%	+1.11%
Average Drawdown Average peak-to-trough decline	-28.55%	-10.32%	-18.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	20.37%	—

Volatility

Volatility by Period

	UPAL	YGLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	9.59%	—
Volatility (6M) Calculated over the trailing 6-month period	—	35.94%	—
Volatility (1Y) Calculated over the trailing 1-year period	79.47%	42.36%	+37.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	79.47%	39.24%	+40.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	79.47%	39.24%	+40.23%

UPAL vs. YGLD - Expense Ratio Comparison

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

Dividends

UPAL vs. YGLD - Dividend Comparison

UPAL's dividend yield for the trailing twelve months is around 0.26%, less than YGLD's 22.00% yield.

Position	TTM	2025
UPAL ProShares Ultra Palladium K-1 Free ETF	0.26%	0.00%
YGLD Simplify Gold Strategy PLUS Income ETF	22.00%	12.05%

Frequently Asked Questions

Can I hold both UPAL and YGLD in my portfolio?

UPAL and YGLD have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, UPAL or YGLD?

On fees, YGLD is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, UPAL or YGLD?

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

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

YGLD has the higher dividend yield at 22.00%, compared with 0.26% for UPAL.

What is the main difference between UPAL and YGLD?

UPAL 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 UPAL and 0.50% for YGLD.