ProShares UltraShort Gold

10-Year Study

GLL.US · · US · ETF

Executive Summary: ProShares UltraShort Gold has compounded at -25.0% annually over the last 10 years, with a maximum drawdown of 95.5% and an annualized volatility of 31.5%.

1Y CAGR
-60.3%
3Y CAGR
-44.9%
5Y CAGR
-31.2%
10Y CAGR
-25.0%

History & Riski10-year historical performance analysis including CAGR, Max Drawdown, Sharpe & Sortino ratios, annual returns, and rolling volatility — all computed from daily market data.

10-Year Growth of $10,000

Max DrawdownMax DrawdownThe largest peak-to-trough decline in the asset's value over the measurement period.Click for full definition →
95.5%
Sharpe RatioSharpe RatioRisk-adjusted return: how much excess return you earn per unit of total risk (volatility).Click for full definition →
-0.91
Sortino RatioSortino RatioLike Sharpe, but only penalizes downside volatility — a more accurate risk measure for asymmetric return distributions.Click for full definition →
-1.39
Ann. VolatilityAnnualized VolatilityThe annualized standard deviation of an asset's returns — a measure of how much prices fluctuate.Click for full definition →
28.4%
Best YearBest & Worst YearThe single calendar year with the highest and lowest return in the measured period.Click for full definition →
2018 · +5.4%
Worst YearBest & Worst YearThe single calendar year with the highest and lowest return in the measured period.Click for full definition →
2025 · -62.8%
% Positive Years% Positive YearsThe percentage of calendar years in the measurement period where the asset delivered a positive return.Click for full definition →
20%

Annual Returns

Rolling 12-Month Returns

Rolling 12-Month Annualised Volatility

Historical Drawdowns

Monthly Returns

Monthly Returns Heatmap

YearJanFebMarAprMayJunJulAugSepOctNovDecAnn.
2026-24.4-17.022.9-4.8————————-26.5%
2025-11.5-2.8-16.2-10.8-0.8-0.71.7-9.8-18.5-8.8-9.9-4.4-62.8%
20243.90.2-14.8-5.6-2.40.6-9.5-3.3-8.7-7.56.43.1-33.3%
2023-10.012.1-14.2-1.33.55.7-3.73.711.3-12.8-4.1-2.0-14.9%
20223.0-11.7-4.04.16.92.85.06.45.73.6-15.2-5.5-2.1%
20215.813.11.7-6.9-14.314.7-4.9-0.76.3-3.50.8-6.61.7%
2020-8.20.4-5.6-13.7-4.8-6.5-16.30.08.20.810.5-13.2-41.5%
2019-4.91.33.51.6-3.1-14.5-0.0-14.06.6-4.66.6-6.6-26.9%
2018-6.24.5-1.21.72.57.94.84.41.5-3.8-0.8-8.95.4%
2017-10.5-6.50.2-3.4-0.14.2-4.5-8.26.91.4-0.6-4.2-23.7%
2016———-10.512.7-16.4-4.86.9-1.55.818.13.39.0%

Risk X-RayiA 19-factor macroeconomic risk decomposition showing exactly which market forces (equity beta, rates, inflation, credit, commodity, crypto) drive this asset's volatility. Powered by multivariate regression against daily factor returns.

Risk Profile Insight: This asset has an estimated annualized volatility of 31.5%. The dominant macroeconomic risk driver is GLD.US, accounting for 85.4% of variance. Idiosyncratic stock-specific factors contribute 0.5%.

10-Year Historical Price Series (Growth of $10,000)
DateSimulated Value
2016-03-0110000
2016-04-018953.39034084066
2016-05-0110086.715644947608
2016-06-018430.687703239793
2016-07-018028.423461399493
2016-08-018584.848849813321
2016-09-018453.5709984343
2016-10-018941.346501264603
2016-11-0110557.62977237143
2016-12-0110904.49235216187
2017-01-019759.123208478863
2017-02-019125.617246778273
2017-03-019144.887390099964
2017-04-018835.360712995303
2017-05-018825.725641334458
2017-06-019197.880284234614
2017-07-018782.367818860652
2017-08-018063.350596170059
2017-09-018617.367216668674
2017-10-018736.601228471638
2017-11-018686.017102252199
2017-12-018323.497531012887
2018-01-017809.22558111526
2018-02-018160.90569673612
2018-03-018066.963748042876
2018-04-018206.672287125135
2018-05-018413.826327833312
2018-06-019079.850656389257
2018-07-019514.633265084909
2018-08-019937.372034204505
2018-09-0110086.715644947608
2018-10-019706.130314344213
2018-11-019625.436589184632
2018-12-018772.732747199807
2019-01-018341.563290376973
2019-02-018449.957846561483
2019-03-018745.031916174878
2019-04-018884.74005095344
2019-05-018606.527650785578
2019-06-017358.785797196326
2019-07-017357.581615390568
2019-08-016325.424600477379
2019-09-016745.754344397592
2019-10-016435.023522242055
2019-11-016861.375553499111
2019-12-016408.526928155204
2020-01-015881.007085517847
2020-02-015905.094397121145
2020-03-015573.888808779582
2020-04-014812.718184327671
2020-05-014580.272043754892
2020-06-014283.993700448539
2020-07-013584.246685400679
2020-08-013584.246685400679
2020-09-013876.911794135732
2020-10-013908.2260343176504
2020-11-014318.920945483748
2020-12-013750.451570474339
2021-01-013967.2405909561585
2021-02-014488.739065128709
2021-03-014563.410741858176
2021-04-014249.066455413329
2021-05-013642.0570602334296
2021-06-014178.007783537153
2021-07-013973.262878293002
2021-08-013944.3574611586173
2021-09-014193.664903628112
2021-10-014047.9345550224693
2021-11-014080.452977010145
2021-12-013813.079591402157
2022-01-013926.291518020125
2022-02-013465.012701163877
2022-03-013325.3041804590584
2022-04-013461.399466592577
2022-05-013699.86743506618
2022-06-013804.648940453799
2022-07-013994.9413668487673
2022-08-014251.475278460864
2022-09-014492.352069982
2022-10-014656.1483617261365
2022-11-013950.379289059442
2022-12-013732.385857053856
2023-01-013360.231195776258
2023-02-013766.1086905652987
2023-03-013232.5665605910986
2023-04-013190.4130761312977
2023-05-013301.216409419741
2023-06-013487.895830961418
2023-07-013360.231195776258
2023-08-013485.487237631894
2023-09-013878.1164353775084
2023-10-013381.910143768042
2023-11-013242.2016230632235
2023-12-013175.9605972821146
2024-01-013298.807586372207
2024-02-013304.8296439910414
2024-03-012815.8495918061667
2024-04-012659.2797692046315
2024-05-012594.2431549472894
2024-06-012609.9000453202393
2024-07-012363.001425898278
2024-08-012285.9206964032674
2024-09-012087.1973893419313
2024-10-011930.627566740396
2024-11-012053.4745558304885
2024-12-012117.3069882820732
2025-01-011872.8170770486408
2025-02-011821.0285301167148
2025-03-011525.954483475123
2025-04-011360.9538950662245
2025-05-011350.1144210703328
2025-06-011340.4793585982075
2025-07-011362.7603974928702
2025-08-011229.6760253097643
2025-09-011002.0474159730481
2025-10-01914.1274422001554
2025-11-01823.7986453797291
2025-12-01787.3660007988159
2026-01-01595.5678877106319
2026-02-01494.3996145971336
2026-03-01607.6117066120679
2026-04-01578.7064916295315
Annual Return Matrix
YearAnnual Return
2017-0.23669096531919598
20180.05397192880914492
2019-0.2694947956552354
2020-0.41477166086372896
20210.01669879473204272
2022-0.02116235248019782
2023-0.14908031513412523
2024-0.3333333574434152
2025-0.6281285589872521
2026-0.2650095495075868
Total Factor Risk
0.315445716004185
VTI.US Exposure
-0.015274702835245691
VEA.US Exposure
0.004750120029638386
VWO.US Exposure
-0.003169917695671034
QQQ.US Exposure
0.00928646927164105
VTV.US Exposure
0.020587811556178875
IJR.US Exposure
0.005315273517633835
QUAL.US Exposure
-0.005984840645520443
SHV.US Exposure
0.12955932079644714
TLT.US Exposure
0.0052255185999026555
LQD.US Exposure
-0.0027971845670939524
HYG.US Exposure
-0.001531393829538577
GLD.US Exposure
0.8539091253656346
USO.US Exposure
-0.003163506271905253
VNQ.US Exposure
-0.006102812320007923
BTC-USD.CC Exposure
-0.00008618104168943281
CPER.US Exposure
-0.006958358632543646
VIX.INDX Exposure
-0.0000011568617988018653
UUP.US Exposure
0.006918660555912487
TIP.US Exposure
0.004497251638612655
Idiosyncratic Exposure
0.005020503369413213
Value Score
50
Growth Score
50
Profit Score
37.5
Health Score
23.6
Yield Score
0
Moat Score
40

Factor Risk Decomposition

Share of annualised volatility attributable to each macro factor.

Total Est. Vol
31.5%

FundamentalsiCompany financial health metrics: P/E valuation, dividend yield, Piotroski F-Score (9-point profitability signal), Altman Z-Score (bankruptcy risk proxy), and a radar chart across 6 fundamental dimensions. Note: ETFs may show N/A for some metrics.

Fundamental Dimensions

Core Valuation

P/E Ratio (TTM)P/E RatioPrice-to-Earnings ratio — the market price of a stock divided by its earnings per share, a key valuation measure.Click for full definition →N/A
Dividend YieldDividend YieldAnnual dividend paid per share divided by the current share price — expressed as a percentage income return.Click for full definition →0.00%
Market Cap$0
Piotroski F-ScorePiotroski F-ScoreA 9-point scoring system evaluating a company's financial strength across profitability, leverage, and operating efficiency.Click for full definition →
9-point profitability signal
0.0/ 9
Weak
Altman Z-ScoreAltman Z-ScoreA bankruptcy prediction model that combines 5 financial ratios into a single score indicating financial distress risk.Click for full definition →
Bankruptcy risk proxy
1.18
Distress Zone
Income Simulation

Based on $10,000 initial investment.

Total Income Generated
$0
Avg Yield on Cost
0.00%

Momentum & MacroiPrice momentum indicators relative to key technical levels: distance from 50-Day SMA (intermediate trend), 200-Day SMA (long-term trend), 52-Week High (bullish proximity), and Beta (market sensitivity coefficient).

vs 50-Day SMAMoving Averages (SMA)A rolling average of an asset's price over a defined window — used to identify trends and momentum signals.Click for full definition →
+1.5%
Above/below 50-day moving average
vs 200-Day SMAMoving Averages (SMA)A rolling average of an asset's price over a defined window — used to identify trends and momentum signals.Click for full definition →
-34.6%
Above/below 200-day moving average
vs 52-Week High52-Week HighThe highest price an asset reached in the past 52 weeks — a key reference for momentum and valuation context.Click for full definition →
60.0% from high
Distance from 52-week high
BetaBetaA measure of an asset's sensitivity to broad market movements relative to a benchmark (e.g. S&P 500).Click for full definition →
-0.97
Market sensitivity coefficient

Frequently Asked Questions & Methodology

Is ProShares UltraShort Gold a high-risk investment?

ProShares UltraShort Gold (GLL.US) has an annualized volatility of 31.5% and experienced a maximum drawdown of 95.5% over the last 10 years. Its primary macro risk driver is GLD.US.

What is the 10-year return of GLL.US?

Over the past 10 years, GLL.US has generated a Compound Annual Growth Rate (CAGR) of -25.0%. It has had a positive return in 20% of the years measured.

Data Methodology & Trust

The risk and return information on this page is pre-calculated mathematically using daily market data spanning a 10-year period. Fundamentals (such as P/E Ratio, Market Cap, and Dividend Yield) represent trailing averages and may not immediately reflect real-time live market fluctuations. Advanced scoring models like the Piotroski F-Score and Altman Z-Score are proxies applied to publicly available trailing-twelve-month financial statements and may not account for recent off-balance-sheet events, qualitative company shifts, or sector-specific capital structures. Macroeconomic factor exposures are estimated via multivariate regression against standard market indices. This data is provided for quantitative insight and backtesting research, and should not be misconstrued as tailored financial advice.

Run a Full Backtest on ProShares UltraShort Gold

stresstest.pro lets you simulate DCA vs Lump Sum, Monte Carlo projections, portfolio optimisation, and more — all in seconds.

Start a Free Backtest