YGLD vs. DGZ

Last updated Jul 14, 2026

YGLD (Simplify Gold Strategy PLUS Income ETF) and DGZ (DB Gold Short Exchange Traded Notes) are both exchange-traded funds - YGLD is a Gold fund actively managed by Simplify, while DGZ is a Inverse Commodities fund tracking the Deutsche Bank Liquid Commodity Index - Optimum Yield Gold Excess Return (-100%). YGLD is actively managed, while DGZ is passively managed. Over the past year, YGLD returned 4.85% vs -11.14% for DGZ. At a correlation of -0.40, they often move in opposite directions. YGLD charges 0.50%/yr vs 0.75%/yr for DGZ.

Performance

YGLD vs. DGZ - Performance Comparison

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

Returns By Period

In the year-to-date period, YGLD achieves a -20.87% return, which is significantly lower than DGZ's 7.37% return.

YGLD

• 1D: -4.09%
• 1M: -7.59%
• 6M: -28.00%
• YTD: -20.87%
• 1Y: 4.85%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DGZ

• 1D: 1.32%
• 1M: 6.28%
• 6M: 12.88%
• YTD: 7.37%
• 1Y: -11.14%
• 3Y*: -15.55%
• 5Y*: -9.77%
• 10Y*: -7.63%

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

YGLD vs. DGZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
YGLD Simplify Gold Strategy PLUS Income ETF	-20.87%	96.82%	-4.26%
DGZ DB Gold Short Exchange Traded Notes	7.37%	-32.55%	-3.15%

Correlation

The correlation between YGLD and DGZ is -0.37, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.37
Correlation (All Time) Calculated using the full available price history since Dec 3, 2024	-0.40

Return for Risk

YGLD vs. DGZ — Risk / Return Rank

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

YGLD

YGLD Risk / Return Rank: 12
YGLD Sharpe Ratio Rank: 11
YGLD Sortino Ratio Rank: 12
YGLD Omega Ratio Rank: 13
YGLD Calmar Ratio Rank: 11
YGLD Martin Ratio Rank: 11

DGZ

DGZ Risk / Return Rank: 8
DGZ Sharpe Ratio Rank: 8
DGZ Sortino Ratio Rank: 10
DGZ Omega Ratio Rank: 11
DGZ Calmar Ratio Rank: 6
DGZ Martin Ratio Rank: 7

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.

YGLD vs. DGZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Gold Strategy PLUS Income ETF (YGLD) and DB Gold Short Exchange Traded Notes (DGZ). 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.

	YGLD	DGZ	Difference
Sharpe ratio: Return per unit of total volatility	0.12	-0.16	+0.27
Sortino ratio: Return per unit of downside risk	0.43	0.27	+0.16
Omega ratio: Gain probability vs. loss probability	1.06	1.04	+0.02
Calmar ratio: Return relative to maximum drawdown	0.11	-0.31	+0.42
Martin ratio: Return relative to average drawdown	0.25	-0.55	+0.80

YGLD vs. DGZ - Sharpe Ratio Comparison

The current YGLD Sharpe Ratio is 0.12, which is higher than the DGZ Sharpe Ratio of -0.16. The chart below compares the historical Sharpe Ratios of YGLD and DGZ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

YGLD vs. DGZ - Drawdown Comparison

The maximum YGLD drawdown since its inception was -42.90%, smaller than the maximum DGZ drawdown of -86.32%. Use the drawdown chart below to compare losses from any high point for YGLD and DGZ.

Drawdown Indicators

	YGLD	DGZ	Difference
Max Drawdown Largest peak-to-trough decline	-42.90%	-86.32%	+43.42%
Max Drawdown (1Y) Largest decline over 1 year	-42.90%	-36.14%	-6.76%
Max Drawdown (3Y) Largest decline over 3 years	—	-59.54%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-61.54%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-71.49%	—
Current Drawdown Current decline from peak	-42.90%	-81.61%	+38.71%
Average Drawdown Average peak-to-trough decline	-9.92%	-57.86%	+47.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.47%	20.16%	-0.69%

Volatility

YGLD vs. DGZ - Volatility Comparison

The current volatility for Simplify Gold Strategy PLUS Income ETF (YGLD) is 11.47%, while DB Gold Short Exchange Traded Notes (DGZ) has a volatility of 24.11%. This indicates that YGLD experiences smaller price fluctuations and is considered to be less risky than DGZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	YGLD	DGZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.47%	24.11%	-12.64%
Volatility (6M) Calculated over the trailing 6-month period	35.91%	58.97%	-23.06%
Volatility (1Y) Calculated over the trailing 1-year period	42.25%	70.25%	-28.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.38%	36.88%	+2.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.38%	28.40%	+10.98%

YGLD vs. DGZ - Expense Ratio Comparison

YGLD has a 0.50% expense ratio, which is lower than DGZ's 0.75% expense ratio.

Dividends

YGLD vs. DGZ - Dividend Comparison

YGLD's dividend yield for the trailing twelve months is around 22.04%, while DGZ has not paid dividends to shareholders.

Position	TTM	2025
DGZ DB Gold Short Exchange Traded Notes	0.00%	0.00%
YGLD Simplify Gold Strategy PLUS Income ETF	22.04%	12.05%

Frequently Asked Questions

Can I hold both YGLD and DGZ in my portfolio?

YGLD and DGZ have a correlation of -0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, YGLD or DGZ?

DGZ has higher volatility (24.11%) compared to YGLD (11.47%). In terms of maximum drawdown, YGLD dropped -42.90% vs DGZ's -86.32%.

Which ETF is better, YGLD or DGZ?

On 1-year performance, YGLD leads with 4.85% vs -11.14% for DGZ. On fees, YGLD is cheaper at 0.50% per year. On volatility, YGLD has been the lower-risk option at 11.47%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, YGLD or DGZ?

Over the 1-year period, YGLD has performed better with a 4.85% return vs -11.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, YGLD or DGZ?

YGLD is cheaper with a 0.50% expense ratio, compared with 0.75% for DGZ.

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

YGLD has the higher dividend yield at 22.04%, compared with 0.00% for DGZ.

What is the main difference between YGLD and DGZ?

YGLD is categorized as Gold, while DGZ is Inverse Commodities. They also come from different issuers: Simplify and Deutsche Bank. Their fees differ too: 0.50% for YGLD and 0.75% for DGZ.

Which has better risk-adjusted returns?

YGLD currently has the higher Sharpe Ratio (0.12 vs -0.16), 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.