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GLLProShares UltraShort Gold

Take a bet17y track recordRanked #111 of 949 in this goal

Seeks daily investment results that correspond to two times the inverse (-2x) of the daily performance of its corresponding benchmark.

By ProShares · Launched 2008

Annual Cost

1.26%

#5,516 of 5,861 · expensive

Fund Size

$110M

#2,911 of 5,861 · mid-size

Return (1Y)Goal

-42.2%

Track Record

17 years

#628 of 5,861 · established

Performance

Total-return NAV · USD
Growth of $10,000
$7,109-28.9%

Total-return NAV, USD. Net of fund fees, before tax.

What's inside

How Beacon categorizes this fund

Asset class

Commodity

Strategy

Inverse

Focus

Gold

Index tracked

Bloomberg Gold Subindex

What it actually holds

By weight

Concentration

synthetic exposure — holdings shown are derivatives collateral, not the fund's positions

ProShares GENIUS Money Market ETFIQMM
294.2%

Asset allocation

Cash
779.4%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
55.4%High

Year-on-year price swings

Max drawdown
-95.8%Severe

Worst peak-to-trough loss

Sharpe (3Y)
-1.04Below average
Sortino (3Y)
-1.49Moderate downside risk

Listing

Exchange
NYSE Arca

Full fund details

Objective
Seeks daily investment results that correspond to two times the inverse (-2x) of the daily performance of its corresponding benchmark.
Strategy
Uses a mathematical approach to invest in Financial Instruments to achieve daily investment results that correspond to two times the inverse (-2x) of the daily performance of gold. The Fund is not actively managed by traditional methods and seeks to remain fully invested at all times.
Inception date
December 1, 2008
Fund family
ProShares

Our take

Structural notes on how this fund behaves. Read our guide on the 6 warning signs.

Inverse
Warning

You can be right and still lose

This fund returns the opposite of its benchmark's daily move, then resets. Hold it longer and the daily compounding takes over: the market can move your way over a week and you still finish down. It works as a one-day hedge and nothing beyond that.

Sources: Cheng & Madhavan, 'The Dynamics of Leveraged and Inverse ETFs' (2009)

Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More

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Data updated on 2026-08-04