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DOG vs GLL

ProShares Short Dow30

DOGBNYSE Arca

ProShares UltraShort Gold

GLLCNYSE Arca

Overlap

Expense ratio

Same figure. Both funds show the same value, so neither comes out ahead.

DOG0.95%GLL0.95%

Avg volume · 30D

DOG 1.9×the volume

DOG4.77MGLL2.55M

10Y return · a year

DOG +10.0pt

DOG−10.9%GLL−20.9%

DOG vs GLL Performance

Oct 29, 2021 – Oct 30, 2026

−20.7%DOG−78.7%GLL

Oct 29, 2021 to Oct 30, 2026. DOG −20.7%. GLL −78.7%. Use the arrow keys to read each point.−60%−40%0%20%Oct 2021Apr 2024Oct 2026
Expense ratio
DOG 0.95%
GLL 0.95%
Fund size
DOG $115M
GLL $111M
1Y total return
DOG −4.9%, better
GLL −5.6%
Yield (12M)
DOG 3.15%
GLL No data
Holdings
DOG 3
GLL 1
Avg volume (30D)
DOG 4.77M sh, better
GLL 2.55M sh
NAV per share
DOG $22.02
GLL $28.57
52W range

ETF.net Grade

DOG: Cost 50, Risk 65, Mission 97, Tradability 94, Holdings 43, Durability 69. GLL: Cost 50, Risk 31, Mission not scored, Tradability 56, Holdings not scored, Durability 67.
Pillar letters and Scores for DOG, GLL, with each pillar’s weight
PillarDOGGLL
Cost30% weightC50C50
Mission25% weightA97Not scored
Risk15% weightB65HigherD31
Tradability15% weightA94HigherB56
Holdings10% weightC43Not scored
Durability5% weightB69HigherB67

Rank among Leveraged Inverse (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. DOG and GLL are both graded against the same 53 Leveraged Inverse (2x & Other) funds, so their Grades compare head to head.

Leveraged Inverse (2x & Other)⁠

Category · 53 funds
See all 53 ›

DOG ranks 1st and GLL 24th of 53 funds in the Leveraged Inverse (2x & Other) Category.

  1. Rank 1BDOGProShares Short Dow30Score 65
  2. Rank 1BSVXYProShares Short VIX Short-Term Futures ETFScore 65
  3. Rank 23CZSLProShares UltraShort SilverScore 50
  4. Rank 24CGLLProShares UltraShort GoldScore 48
  5. Rank 25CETHDProShares UltraShort Ether ETFScore 47

Our read on each fund

ETF.net Research

DOGBProShares Short Dow30

GLLCProShares UltraShort Gold

In short

DOG The plain-vanilla short on the Dow: DOG aims to deliver the inverse of the index's move each day, with no 2x or 3x bolted on. Running since 2006, and ProShares bills it as the only -1x ETF built on the Dow.

GLL Short gold, with the volume knob turned to two. GLL aims for -2x the daily move of the Bloomberg Gold Subindex, it has been running since 2008, and it charges less than the typical leveraged-bear fund.

Stated mandate

DOG DOG seeks daily investment results, before fees and expenses, that correspond to the inverse of the Dow Jones Industrial Average's daily performance.

GLL GLL seeks daily results equal to -2 times the daily performance of the Bloomberg Gold Subindex, before fees and expenses.

Why people hold it

  • DOG 0.95% net of a waiver through September 30, 2027 (1.00% gross), which sits near the typical fee among leveraged and inverse funds.
  • Sticks close to its daily inverse target, one of the tighter implementations in its peer group.proshares.com
  • Actively traded for an inverse fund, so getting in and back out is rarely the hard part.
  • Live since 2006, so the mechanism has run through the financial crisis, 2020 and every tape since.
  • GLL One job, stated plainly: -2 times the daily move of the Bloomberg Gold Subindex. No discretion, no stock picking, no wondering what is under the hood.
  • A 0.95% expense ratio undercuts the median leveraged-bear fund by a wide margin. Nothing is cheap in this aisle, but within the cohort the fee is a real edge.
  • Live since 2008, so it has traded through gold's booms and busts. Few inverse commodity funds have that much road behind them.
  • Actively traded in a corner of the market where plenty of products are thin, and one of the stronger implementations among leveraged-bear funds.

Worth knowing

  • DOG The target resets every day. Hold longer than a day and the result depends on the path the Dow takes, not just its direction.proshares.com
  • If the waiver lapses after September 30, 2027, the fee steps up toward the 1.00% gross figure.
  • The Dow is 30 price-weighted names, so this is a short on a narrow, old-school slice of the market rather than the broad tape.proshares.com
  • GLL The leverage resets every day. Hold longer and choppy gold prices can leave results well away from -2x the index's move over that stretch.
  • It cuts both ways. A gold rally lands on this fund at roughly double force on a daily basis.
  • Structured as a commodity pool tracking a futures-based gold index, not a stock fund, and it has not been paying distributions. A trading tool, not an income holding.

Full DOG profile⁠

Full GLL profile⁠

DOG vs GLL 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.

DOG vs GLL Cost

Same expense ratio

$17,869

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

  • DOG 0.95%

    $17,869

  • GLL 0.95%

    $17,869

$10,000
30 years

Cost over time

  • DOG 0.95%
  • GLL 0.95%
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530DOG $17,869GLL $17,869

Year by year

YearDOGGLL
10$1,678$1,678
20$6,322$6,322
30$17,869$17,869

Expense ratio

  • 0.95%DOG
  • 0.95%GLL
  • Middle half of Leveraged Inverse (2x & Other) funds
  • Median 0.95%

DOG 6th cheapest of 53 funds

GLL 6th cheapest of 53 funds

DOG vs GLL Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
DOG 3.15%
GLL No data
Payout (12M)
DOG $0.69
GLL None
Last payment
DOG $0.17
GLL No data
Ex-dividend
DOG Sep 23, 2026
GLL No data
Paid on
DOG Sep 29, 2026
GLL No data
Frequency
DOG Quarterly
GLL No data

Distribution history

Per share, 2017 to 2026, same scale for both

DOGQuarterly · 26 paymentsAll DOG payments⁠
One bar per payment. 26 payments from 2017 to 2026 YTD. Dec 26, 2017 $0.02; Mar 21, 2018 $0.06; Jun 20, 2018 $0.12; Sep 26, 2018 $0.16; Dec 26, 2018 $0.19; Mar 20, 2019 $0.17; Jun 25, 2019 $0.25; Sep 25, 2019 $0.20; Dec 24, 2019 $0.14; Mar 25, 2020 $0.06; Dec 22, 2022 $0.14; Mar 22, 2023 $0.20; Jun 21, 2023 $0.35; Sep 20, 2023 $0.39; Dec 20, 2023 $0.41; Mar 20, 2024 $0.32; Jun 26, 2024 $0.40; Sep 25, 2024 $0.36; Dec 23, 2024 $0.43; Mar 26, 2025 $0.18; Jun 25, 2025 $0.21; Sep 24, 2025 $0.21; Dec 24, 2025 $0.26; Mar 25, 2026 $0.10; Jun 24, 2026 $0.16; Sep 23, 2026 $0.17. Use the arrow keys to read each point.$0$0.502017202020232026YTD
GLLAll GLL payments⁠

No distribution history available.

DOG vs GLL Risk

Fall from peak · 5 years

  • DOG
  • GLL
Oct 29, 2021 to Oct 30, 2026. Worst fall: GLL −89.8% · Mar 2026. Use the arrow keys to read each point.−100%−75%−50%−25%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
DOG 11.7%, betterGLL 38.2%
Return per unit of riskSharpe ratio, 3 years
DOG −1.21GLL −1.10, better
Worst fallMax drawdown, 5 years
DOG −37.3%, betterGLL −89.8%
Market sensitivityBeta, 5 years
DOG −0.83GLL −0.63

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