ProShares UltraShort Gold (GLL) Performance
GLL total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +3.4% since Dec 31, 2025
- 1 year
- −5.7% total return
- 5 years
- −27.3% a year
- 10 years
- −21.4% a year
- Since first price
- −21.5% a year since 2008
GLL trailing returns vs SPY, QQQ, AGG
| Period | GLL total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +15.1% | +15.1% | −1.0% | −5.0% | +0.9% |
| 3 months | +2.2% | +2.2% | +3.2% | +1.9% | −0.4% |
| 6 months | +35.0% | +35.0% | +7.8% | +8.4% | −1.5% |
| YTD | +3.4% | +3.4% | +12.3% | +15.1% | −1.0% |
| 1 year | −5.7% | −5.7% | +14.4% | +15.9% | −1.1% |
| 3 years | −76.1%−38.0%/yr | −76.1% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | −79.6%−27.3%/yr | −79.6% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | −91.1%−21.4%/yr | −91.1% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | −90.9%−14.8%/yr | −90.9% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| Since inceptionDec 3, 2008 | −98.7%−21.5%/yr | −98.7% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: GLL vs SPY
From Dec 3, 2008: GLL grew to $132, SPY to $120,589.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
GLL returns by calendar year
4 of 17 full years positive. Best 2013 (+65.4%), worst 2025 (−62.8%). 2026 is year to date.
GLL annual returns table
| Year | GLL | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +3.4% | −38.4% | +12.3% | +15.1% | −1.0% |
| 2025 | −62.8% | −66.2% | +17.7% | +20.8% | +7.2% |
| 2024 | −33.3% | −45.8% | +24.9% | +25.6% | +1.3% |
| 2023 | −14.9% | −21.9% | +26.2% | +54.9% | +5.7% |
| 2022 | −2.1% | −25.4% | −18.2% | −32.6% | −13.0% |
| 2021 | +1.7% | −23.6% | +28.7% | +27.4% | −1.8% |
| 2020 | −41.5% | −50.5% | +18.3% | +48.6% | +7.5% |
| 2019 | −26.9% | −33.1% | +31.2% | +39.0% | +8.5% |
| 2018 | +5.4% | −15.5% | −4.6% | −0.1% | +0.1% |
| 2017 | −23.7% | −27.6% | +21.7% | +32.7% | +3.6% |
| 2016 | −21.8% | −41.6% | +12.0% | +7.1% | +2.4% |
| 2015 | +15.6% | −18.3% | +1.2% | +9.4% | +0.5% |
| 2014 | −3.2% | −22.8% | +13.5% | +19.2% | +6.0% |
| 2013 | +65.4% | −30.2% | +32.3% | +36.6% | −2.0% |
| 2012 | −21.0% | −29.0% | +16.0% | +18.1% | +3.8% |
| 2011 | −28.7% | −54.6% | +1.9% | +3.4% | +7.7% |
| 2010 | −46.3% | −48.5% | +15.1% | +19.9% | +6.4% |
| 2009 | −45.8% | −61.7% | +26.4% | +54.7% | +3.0% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
GLL largest drawdowns
Now 98.7% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Dec 5, 2008 | −99.2% | Mar 2, 2026 | not yet | 17.2 years | 17.9 years so far |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
GLL risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2008 |
|---|---|---|---|---|
| Annualized return | −42.2% | −29.1% | −21.5% | −20.7% |
| Volatility (annualized) | 37.0% | 33.5% | 29.8% | 32.6% |
| Sharpe ratio | -1.38 | -0.95 | -0.73 | -0.58 |
| Sortino ratio | -1.57 | -1.13 | -0.89 | -0.73 |
| Best month | +26.3% | +26.3% | +26.3% | +26.3% |
| Worst month | −24.4% | −24.4% | −24.4% | −24.4% |
| Best 12 months | −25.1% | +15.0% | +23.2% | +65.4% |
| Worst 12 months | −72.9% | −72.9% | −72.9% | −72.9% |
| Positive months | 31% | 42% | 44% | 45% |
| Beta vs S&P 500 | -0.02 | -0.36 | -0.23 | — |
| Correlation with S&P 500 | -0.01 | -0.17 | -0.12 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
GLL rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 203 | −72.9% | −18.0% | +65.4% | 28% |
| 3-year (a year) | 179 | −49.2% | −13.4% | +24.5% | 13% |
| 5-year (a year) | 155 | −35.7% | −14.7% | +6.3% | 12% |
| 10-year (a year) | 95 | −26.2% | −12.9% | −4.1% | 0% |
Every holding period starting at a month-end since 2008. Returns for 3 years and longer are annualized.
GLL performance overview
ProShares UltraShort Gold (GLL) returned −5.7% over the past year and −21.4% a year over ten years, with distributions reinvested. Since its first recorded price in 2008 it has returned −21.5% a year, turning $10,000 into about $132. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −99.2%, from Dec 5, 2008 to Mar 2, 2026; the fund has not yet regained that high. GLL finished 4 of its 17 full calendar years with a gain; the best year was 2013 (+65.4%) and the worst 2025 (−62.8%). Volatility has been 32.6% a year.
Related: GLL chart. See the GLL overview for the latest quote and fund facts.
GLL performance FAQ
What is the GLL return over the past year?
GLL returned −5.7% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 5.7%.
What is the average annual return of GLL?
GLL has returned −27.3% a year over 5 years, −21.4% a year over 10 years, −21.5% a year since December 3, 2008 (total return, distributions reinvested).
How much would $10,000 invested in GLL be worth?
$10,000 invested in GLL at its first recorded close on December 3, 2008 would be worth about $132 on October 23, 2026 with distributions reinvested.
What was the worst year for GLL?
The worst calendar year was 2025, with a total return of −62.8%. The best was 2013 at +65.4%.
What is the biggest drawdown of GLL?
The largest peak-to-trough decline was −99.2% between December 5, 2008 and March 2, 2026. It has not yet recovered to that high; it is 98.7% below its peak.
How volatile is GLL?
Over the past 3 years GLL had an annualized volatility of 37.0% and a Sharpe ratio of -1.38 (excess return over 1–3 month T-bills per unit of risk).