VOO vs. DGP
VOO (Vanguard S&P 500 ETF) and DGP (DB Gold Double Long Exchange Traded Notes) are both exchange-traded funds - VOO is a S&P 500 fund tracking the S&P 500 Index, while DGP is a Leveraged Commodities fund tracking the Deutsche Bank Liquid Commodity Index-Optimum Yield Gold (200%). Both are passively managed. Over the past 10 years, VOO returned 15.35%/yr vs 19.21%/yr for DGP. At a 0.05 correlation, their price movements are largely independent. VOO charges 0.03%/yr vs 0.75%/yr for DGP.
Performance
VOO vs. DGP - Performance Comparison
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Returns By Period
In the year-to-date period, VOO achieves a 8.72% return, which is significantly higher than DGP's -4.85% return. Over the past 10 years, VOO has underperformed DGP with an annualized return of 15.35%, while DGP has yielded a comparatively higher 19.21% annualized return.
VOO
- 1D
- 0.25%
- 1M
- 0.24%
- YTD
- 8.72%
- 6M
- 8.77%
- 1Y
- 24.91%
- 3Y*
- 21.45%
- 5Y*
- 13.49%
- 10Y*
- 15.35%
DGP
- 1D
- 0.46%
- 1M
- -16.73%
- YTD
- -4.85%
- 6M
- 0.37%
- 1Y
- 52.74%
- 3Y*
- 53.91%
- 5Y*
- 29.00%
- 10Y*
- 19.21%
VOO vs. DGP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VOO Vanguard S&P 500 ETF | 8.72% | 17.82% | 24.98% | 26.32% | -18.17% | 28.79% | 18.32% | 31.37% | -4.50% | 21.77% |
DGP DB Gold Double Long Exchange Traded Notes | -4.85% | 141.40% | 53.16% | 16.97% | -5.54% | -11.29% | 45.29% | 32.27% | -7.48% | 24.20% |
Correlation
The correlation between VOO and DGP is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2010 | 0.05 |
The correlation between VOO and DGP shifts across timeframes, from 0.05 (all time) to 0.24 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
VOO vs. DGP — Risk / Return Rank
VOO
DGP
VOO vs. DGP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P 500 ETF (VOO) 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.
| VOO | DGP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.07 | ||
| Sortino ratioReturn per unit of downside risk | +1.30 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.22 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.81 | 1.43 | +1.38 |
| Martin ratioReturn relative to average drawdown | 12.97 | 3.59 | +9.39 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VOO | DGP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.08 | 1.00 | +1.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.80 | 0.75 | +0.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.85 | 0.55 | +0.31 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.88 | 0.27 | +0.61 |
Drawdowns
VOO vs. DGP - Drawdown Comparison
The maximum VOO drawdown since its inception was -33.99%, smaller than the maximum DGP drawdown of -75.31%. Use the drawdown chart below to compare losses from any high point for VOO and DGP.
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Drawdown Indicators
| VOO | DGP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.99% | -75.31% | +41.32% |
Max Drawdown (1Y)Largest decline over 1 year | -8.90% | -36.98% | +28.08% |
Max Drawdown (3Y)Largest decline over 3 years | -18.69% | -36.98% | +18.29% |
Max Drawdown (5Y)Largest decline over 5 years | -24.52% | -51.24% | +26.72% |
Max Drawdown (10Y)Largest decline over 10 years | -33.99% | -51.24% | +17.25% |
Current DrawdownCurrent decline from peak | -2.66% | -36.69% | +34.03% |
Average DrawdownAverage peak-to-trough decline | -3.69% | -41.09% | +37.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.92% | 14.75% | -12.83% |
Volatility
VOO vs. DGP - Volatility Comparison
The current volatility for Vanguard S&P 500 ETF (VOO) is 3.73%, while DB Gold Double Long Exchange Traded Notes (DGP) has a volatility of 10.97%. This indicates that VOO experiences smaller price fluctuations and is considered to be less risky than DGP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VOO | DGP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.73% | 10.97% | -7.24% |
Volatility (6M)Calculated over the trailing 6-month period | 9.31% | 46.99% | -37.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.08% | 53.01% | -40.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.85% | 38.91% | -22.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.03% | 35.11% | -17.08% |
VOO vs. DGP - Expense Ratio Comparison
VOO has a 0.03% expense ratio, which is lower than DGP's 0.75% expense ratio.
Dividends
VOO vs. DGP - Dividend Comparison
VOO's dividend yield for the trailing twelve months is around 1.05%, while DGP has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DGP DB Gold Double Long Exchange Traded Notes | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VOO Vanguard S&P 500 ETF | 1.05% | 1.13% | 1.24% | 1.46% | 1.69% | 1.25% | 1.54% | 1.88% | 2.06% | 1.78% | 2.02% | 2.10% |
Frequently Asked Questions
VOO and DGP have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DGP has higher volatility (10.97%) compared to VOO (3.73%). In terms of maximum drawdown, VOO dropped -33.99% vs DGP's -75.31%.
On 10-year performance, DGP leads with 19.21% vs 15.35% for VOO. On fees, VOO is cheaper at 0.03% per year. On volatility, VOO has been the lower-risk option at 3.73%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DGP has performed better with a 19.21% return vs 15.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VOO is cheaper with a 0.03% expense ratio, compared with 0.75% for DGP.
VOO has the higher dividend yield at 1.05%, compared with 0.00% for DGP.
VOO is categorized as S&P 500, while DGP is Leveraged Commodities. VOO tracks S&P 500 Index, while DGP tracks Deutsche Bank Liquid Commodity Index-Optimum Yield Gold (200%). They also come from different issuers: Vanguard and Deutsche Bank. Their fees differ too: 0.03% for VOO and 0.75% for DGP.
VOO currently has the higher Sharpe Ratio (2.08 vs 1.00), 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.
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