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DDM vs UGLD

ProShares Ultra Dow30

DDMBNYSE Arca

Direxion Daily Gold Bull 2X ETF

UGLDDNYSE Arca

Overlap

Expense ratio

DDM −0.12pt a year

DDM0.95%UGLD1.07%

Avg volume · 30D

DDM 2.8×the volume

DDM211KUGLD74.1K

DDM vs UGLD Performance

Aug 7, 2026 – Nov 9, 2026

−7.2%DDM−12.8%UGLD

Aug 7, 2026 to Nov 9, 2026. DDM −7.2%. UGLD −12.8%. Use the arrow keys to read each point.−20%0%10%Aug 2026Sep 2026Nov 2026
Expense ratio
DDM 0.95%, better
UGLD 1.07%
Fund size
DDM $520M
UGLD $18M
1Y total return
DDM +18.7%
UGLD No data
Yield (12M)
DDM 0.96%
UGLD No data
Holdings
DDM 36
UGLD 8
Avg volume (30D)
DDM 211K sh, better
UGLD 74.1K sh
NAV per share
DDM $61.60
UGLD $18.63
52W range

ETF.net Grade

DDM: Cost 51, Risk 79, Mission 99, Tradability 93, Holdings 42, Durability 79. UGLD: Cost 19, Risk 40, Mission not scored, Tradability 51, Holdings not scored, Durability 46.
Pillar letters and Scores for DDM, UGLD, with each pillar’s weight
PillarDDMUGLD
Cost30% weightC51HigherF19
Mission25% weightA99Not scored
Risk15% weightA79HigherC40
Tradability15% weightA93HigherC51
Holdings10% weightC42Not scored
Durability5% weightA79HigherC46

Rank among Leveraged Long (2x & Other) funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. DDM and UGLD are both graded against the same 95 Leveraged Long (2x & Other) funds, so their Grades compare head to head.

Leveraged Long (2x & Other)⁠

Category · 95 funds
See all 95 ›

DDM ranks 4th and UGLD 82nd of 95 funds in the Leveraged Long (2x & Other) Category.

  1. Rank 1AQLDProShares Ultra QQQScore 76
  2. Rank 2AUYGProShares Ultra FinancialsScore 74
  3. Rank 3AROMProShares Ultra TechnologyScore 70
  4. Rank 4BDDMProShares Ultra Dow30Score 69
  5. Rank 5BURSPProShares Ultra S&P 500 Equal WeightScore 68
  6. Rank 82DINDLDirexion Daily MSCI India Bull 2X ETFScore 33
  7. Rank 82DUGLDDirexion Daily Gold Bull 2X ETFScore 33
  8. Rank 84DBTGDSTKd 100% Bitcoin & 100% Gold ETFScore 31

Our read on each fund

ETF.net Research

DDMBProShares Ultra Dow30

UGLDDDirexion Daily Gold Bull 2X ETF

In short

DDM The Dow dates to 1896. DDM is the only ETF built to double its daily move: 2x the Dow Jones Industrial Average, reset every single day, for 0.95% a year, running since 2006.

UGLD Two times gold, re-struck every session. UGLD targets 200% of gold's daily price move with the SPDR Gold Trust as its reference, at 1.07% net of a waiver through September 1, 2027. A trading tool, not a bar in a vault.

Stated mandate

DDM The fund seeks daily investment results, before fees and expenses, corresponding to twice the daily performance of the Dow Jones Industrial Average.

UGLD The fund seeks daily investment results, before fees and expenses, equal to 200% of gold’s price performance.

Why people hold it

  • DDM The only ETF that targets 2x the daily return of the Dow Jones Industrial Average. Leveraged blue-chip exposure through one ticker, no margin account needed.proshares.com
  • Trading since 2006, and its day-to-day results have stayed close to the 2x daily target across nearly two decades of market cycles.proshares.com
  • Easy to get in and out of for a fund its size, and one of the strongest implementations in its peer group of leveraged bull funds.
  • The 0.95% fee sits near the typical charge for leveraged funds, and it is the standing rate, not a number propped up by a temporary waiver.
  • UGLD The mandate is narrow and legible: 200% of gold's daily price move, referenced to a single gold holding (GLD). No miners, no basket to drift away from the metal.direxion.comdirexion.com 2
  • Leverage arrives inside a plain ETF share, so the 2x daily target needs no margin account, and an intraday value (UGLD.IV) publishes through the session.direxion.com
  • Moderately traded for a fund launched in 2026, and Direxion waives part of the 1.09% gross fee down to 1.07% net through September 1, 2027.

Worth knowing

  • DDM The 2x target resets daily. Hold for weeks and compounding takes over, so results can land well away from twice the Dow's move, especially in choppy markets.proshares.com
  • The Dow is price-weighted across 30 blue chips, so a high-priced stock swings it more than a far larger company does.spglobal.com
  • Sibling leveraged funds cost a little less: QLD charges 0.89% net of a waiver through September 30, 2027, against a 0.96% gross rate.
  • UGLD Daily reset is the whole story: held longer than a day, compounding takes over and multi-week results can diverge sharply from 2x gold's move, especially in choppy tape.direxion.com
  • Cost sits above the leveraged-bull median: 1.07% net of a waiver through September 1, 2027, against 0.89% net of a waiver through September 30, 2027 at QLD and 0.93% at ROM.
  • Launched in 2026 and still small, so there is only a short record of how tightly daily results have tracked the 200% target.

Full DDM profile⁠

Full UGLD profile⁠

DDM vs UGLD Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

DDM vs UGLD Cost

Overpaying UGLD vs DDM

$1,946

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • DDM 0.95%

    $17,869

  • UGLD 1.07%

    $19,815

$10,000
30 years

Cost over time

  • DDM 0.95%
  • UGLD 1.07%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530UGLD $19,815DDM $17,869

Year by year

YearDDMUGLDOverpaying
10$1,678$1,881$203
20$6,322$7,046$724
30$17,869$19,815$1,946

Expense ratio

  • 0.95%DDM, cheaper
  • 1.07%UGLD
  • Middle half of Leveraged Long (2x & Other) funds
  • Median 0.95%

DDM 32nd cheapest of 95 funds

UGLD 80th cheapest of 95 funds

DDM vs UGLD Dividends

Last 12 months to Nov 9, 2026
Yield (12M)
DDM 0.96%
UGLD No data
Payout (12M)
DDM $0.62
UGLD No data
Last payment
DDM $0.15
UGLD $0.08
Ex-dividend
DDM Sep 23, 2026
UGLD Sep 22, 2026
Paid on
DDM Sep 29, 2026
UGLD Sep 29, 2026
Frequency
DDM Quarterly
UGLD Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

DDMQuarterly · 33 paymentsAll DDM payments⁠
One bar per payment. 33 payments from 2017 to 2026 YTD. Mar 22, 2017 $0.04; Jun 21, 2017 $0.03; Sep 27, 2017 $0.04; Dec 26, 2017 $0.04; Mar 21, 2018 $0.03; Jun 20, 2018 $0.03; Sep 26, 2018 $0.06; Dec 26, 2018 $0.04; Mar 20, 2019 $0.04; Jun 25, 2019 $0.05; Dec 24, 2019 $0.07; Mar 25, 2020 $0.06; Jun 24, 2020 $0.0055; Dec 23, 2020 $0.02; Mar 23, 2021 $0.01; Sep 22, 2021 $0.0052; Dec 23, 2021 $0.05; Mar 23, 2022 $0.07; Jun 22, 2022 $0.04; Sep 21, 2022 $0.04; Dec 22, 2022 $0.12; Dec 20, 2023 $0.11; Mar 20, 2024 $0.12; Jun 26, 2024 $0.13; Sep 25, 2024 $0.14; Dec 23, 2024 $0.09; Mar 26, 2025 $0.13; Jun 25, 2025 $0.13; Sep 24, 2025 $0.15; Dec 24, 2025 $0.14; Mar 25, 2026 $0.16; Jun 24, 2026 $0.17; Sep 23, 2026 $0.15. Use the arrow keys to read each point.$0$0.202017202020232026YTD
UGLDQuarterly · 2 paymentsAll UGLD payments⁠
One bar per payment. 2 payments from 2017 to 2026 YTD. Jun 23, 2026 $0.05; Sep 22, 2026 $0.08. Use the arrow keys to read each point.$0$0.202017202020232026YTD

DDM vs UGLD Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
DDM 24.6%UGLD No data
Return per unit of riskSharpe ratio, 3 years
DDM 0.96UGLD No data
Worst fallMax drawdown, 5 years
DDM −40.2%UGLD No data
Market sensitivityBeta, 5 years
DDM 1.73UGLD 0.00

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