UPLT vs. DGP

Last updated Jul 21, 2026

UPLT (ProShares Ultra Platinum K-1 Free ETF) and DGP (DB Gold Double Long Exchange Traded Notes) are both Leveraged Commodities funds. UPLT is actively managed, while DGP is passively managed. A 0.79 correlation means they provide meaningful diversification when combined. UPLT charges 0.95%/yr vs 0.75%/yr for DGP.

Performance

UPLT vs. DGP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Platinum K-1 Free ETF (UPLT) and DB Gold Double Long Exchange Traded Notes (DGP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

UPLT

• 1D: -0.82%
• 1M: -14.41%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

DGP

• 1D: -0.43%
• 1M: -11.22%
• 6M: -28.99%
• YTD: -20.17%
• 1Y: 26.25%
• 3Y*: 45.96%
• 5Y*: 27.10%
• 10Y*: 16.38%

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

UPLT vs. DGP - Yearly Performance Comparison

	2026 (YTD)
UPLT ProShares Ultra Platinum K-1 Free ETF	-46.83%
DGP DB Gold Double Long Exchange Traded Notes	-32.94%

Correlation

The correlation between UPLT and DGP is 0.79, 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	0.79

Return for Risk

UPLT vs. DGP — Risk / Return Rank

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

UPLT

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

DGP

DGP Risk / Return Rank: 21
DGP Sharpe Ratio Rank: 20
DGP Sortino Ratio Rank: 23
DGP Omega Ratio Rank: 24
DGP Calmar Ratio Rank: 18
DGP Martin Ratio Rank: 18

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.

UPLT vs. DGP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Platinum K-1 Free ETF (UPLT) and DB Gold Double Long Exchange Traded Notes (DGP). 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.

	UPLT	DGP	Difference
Sharpe ratio: Return per unit of total volatility	—	0.47	—
Sortino ratio: Return per unit of downside risk	—	0.97	—
Omega ratio: Gain probability vs. loss probability	—	1.13	—
Calmar ratio: Return relative to maximum drawdown	—	0.55	—
Martin ratio: Return relative to average drawdown	—	1.28	—

Drawdowns

UPLT vs. DGP - Drawdown Comparison

The maximum UPLT drawdown since its inception was -49.98%, smaller than the maximum DGP drawdown of -75.31%. Use the drawdown chart below to compare losses from any high point for UPLT and DGP.

Drawdown Indicators

	UPLT	DGP	Difference
Max Drawdown Largest peak-to-trough decline	-49.98%	-75.31%	+25.33%
Max Drawdown (1Y) Largest decline over 1 year	—	-47.59%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-47.59%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-51.24%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-51.24%	—
Current Drawdown Current decline from peak	-48.80%	-46.88%	-1.92%
Average Drawdown Average peak-to-trough decline	-27.83%	-41.10%	+13.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	20.63%	—

Volatility

Volatility by Period

	UPLT	DGP	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	12.92%	—
Volatility (6M) Calculated over the trailing 6-month period	—	48.56%	—
Volatility (1Y) Calculated over the trailing 1-year period	78.62%	55.64%	+22.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	78.62%	39.60%	+39.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	78.62%	35.41%	+43.21%

UPLT vs. DGP - Expense Ratio Comparison

UPLT has a 0.95% expense ratio, which is higher than DGP's 0.75% expense ratio.

Dividends

UPLT vs. DGP - Dividend Comparison

UPLT's dividend yield for the trailing twelve months is around 0.29%, while DGP has not paid dividends to shareholders.

Position	TTM
DGP DB Gold Double Long Exchange Traded Notes	0.00%
UPLT ProShares Ultra Platinum K-1 Free ETF	0.29%

Frequently Asked Questions

Can I hold both UPLT and DGP in my portfolio?

UPLT and DGP have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, UPLT or DGP?

On fees, DGP is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, UPLT or DGP?

DGP is cheaper with a 0.75% expense ratio, compared with 0.95% for UPLT.

Which ETF pays a higher dividend yield, UPLT or DGP?

UPLT has the higher dividend yield at 0.29%, compared with 0.00% for DGP.

What is the main difference between UPLT and DGP?

They also come from different issuers: ProShares and Deutsche Bank. Their fees differ too: 0.95% for UPLT and 0.75% for DGP.