ZSL vs. DGP
Compare and contrast key facts about ProShares UltraShort Silver (ZSL) and DB Gold Double Long Exchange Traded Notes (DGP).
ZSL and DGP are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ZSL is a passively managed fund by ProShares that tracks the performance of the Bloomberg Silver (-200%). It was launched on Dec 1, 2008. DGP is a passively managed fund by Deutsche Bank that tracks the performance of the Deutsche Bank Liquid Commodity Index-Optimum Yield Gold (200%). It was launched on Feb 27, 2008. Both ZSL and DGP are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
ZSL vs. DGP - Performance Comparison
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ZSL vs. DGP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ZSL ProShares UltraShort Silver | -57.85% | -87.29% | -42.43% | -5.49% | -28.09% | -2.04% | -74.44% | -27.76% | 18.15% | -18.99% |
DGP DB Gold Double Long Exchange Traded Notes | 13.65% | 141.40% | 53.16% | 16.97% | -5.54% | -11.29% | 45.29% | 32.27% | -7.48% | 24.20% |
Returns By Period
In the year-to-date period, ZSL achieves a -57.85% return, which is significantly lower than DGP's 13.65% return. Over the past 10 years, ZSL has underperformed DGP with an annualized return of -44.59%, while DGP has yielded a comparatively higher 22.44% annualized return.
ZSL
- 1D
- -14.31%
- 1M
- 41.39%
- YTD
- -57.85%
- 6M
- -85.35%
- 1Y
- -92.33%
- 3Y*
- -68.82%
- 5Y*
- -53.86%
- 10Y*
- -44.59%
DGP
- 1D
- 9.12%
- 1M
- -22.14%
- YTD
- 13.65%
- 6M
- 37.68%
- 1Y
- 101.12%
- 3Y*
- 63.02%
- 5Y*
- 38.30%
- 10Y*
- 22.44%
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ZSL vs. DGP - Expense Ratio Comparison
ZSL has a 1.32% expense ratio, which is higher than DGP's 0.75% expense ratio.
Return for Risk
ZSL vs. DGP — Risk / Return Rank
ZSL
DGP
ZSL vs. DGP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Silver (ZSL) 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.
| ZSL | DGP | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.79 | 1.84 | -2.63 |
Sortino ratioReturn per unit of downside risk | -2.51 | 2.24 | -4.75 |
Omega ratioGain probability vs. loss probability | 0.73 | 1.32 | -0.59 |
Calmar ratioReturn relative to maximum drawdown | -0.96 | 2.91 | -3.87 |
Martin ratioReturn relative to average drawdown | -1.45 | 11.14 | -12.59 |
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
| ZSL | DGP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.79 | 1.84 | -2.63 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.75 | 1.01 | -1.75 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.70 | 0.64 | -1.34 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.68 | 0.30 | -0.98 |
Correlation
The correlation between ZSL and DGP is -0.76. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
ZSL vs. DGP - Dividend Comparison
Neither ZSL nor DGP has paid dividends to shareholders.
Drawdowns
ZSL vs. DGP - Drawdown Comparison
The maximum ZSL drawdown since its inception was -100.00%, which is greater than DGP's maximum drawdown of -75.31%. Use the drawdown chart below to compare losses from any high point for ZSL and DGP.
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Drawdown Indicators
| ZSL | DGP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -75.31% | -24.69% |
Max Drawdown (1Y)Largest decline over 1 year | -95.92% | -36.58% | -59.34% |
Max Drawdown (5Y)Largest decline over 5 years | -99.04% | -51.24% | -47.80% |
Max Drawdown (10Y)Largest decline over 10 years | -99.81% | -51.24% | -48.57% |
Current DrawdownCurrent decline from peak | -99.99% | -24.38% | -75.61% |
Average DrawdownAverage peak-to-trough decline | -96.35% | -41.24% | -55.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 63.73% | 9.54% | +54.19% |
Volatility
ZSL vs. DGP - Volatility Comparison
ProShares UltraShort Silver (ZSL) has a higher volatility of 37.36% compared to DB Gold Double Long Exchange Traded Notes (DGP) at 25.22%. This indicates that ZSL's price experiences larger fluctuations and is considered to be riskier 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
| ZSL | DGP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 37.36% | 25.22% | +12.14% |
Volatility (6M)Calculated over the trailing 6-month period | 104.15% | 48.02% | +56.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 116.32% | 55.31% | +61.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 72.42% | 38.32% | +34.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 64.24% | 34.93% | +29.31% |