GLL vs IVV
ProShares UltraShort Gold vs iShares Core S&P 500 ETF
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. IVV offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | GLL | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 0.95% | 0.03% | |
| AUM | $129M | $865.2B | |
| Dividend Yield | 0.00% | 1.09% | |
| Holdings | 5 | 508 | |
| YTD Return | -11.93% | +14.50% | |
| 1Y Return | -47.38% | +22.02% | |
| 3Y Return (annualized) | -42.31% | +21.80% | |
| 5Y Return (annualized) | -30.08% | +13.37% | |
| Volatility (annualized) | 32.3% | 15.1% | |
| Max Drawdown | -99.2% | -56.5% | |
| Fund Family | ProShares | iShares by BlackRock (US) | |
| Category | Alternative | Equity | |
| Inception | Dec 1, 2008 | May 15, 2000 |
GLL vs IVV Performance
ProShares UltraShort Gold (GLL) is a ETF from ProShares and iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US). Over the past year GLL returned -47.38% while IVV returned +22.02%. Year to date, GLL is down 11.93% versus a gain of 14.50% for IVV.
Over three years, GLL compounded at -42.31% per year against +21.80% for IVV; over five years the annualized figures are -30.08% and +13.37% respectively. Across the full 18-year window we track, IVV has the edge at +7.07% annualized vs -22.42%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
GLL has been the more volatile fund, with annualized monthly volatility of 32.3% compared with 15.1% for IVV. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -99.2% for GLL and -56.5% for IVV. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at -0.08. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
GLL charges 0.95% per year while IVV charges 0.03%. On a $10,000 position that is $95 vs $3 annually, a gap of $92 per year that compounds over a long holding period. On income, GLL currently yields 0.00% against 1.09% for IVV.
Holdings Overlap
GLL and IVV share 0 holdings out of 506 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, GLL or IVV?
GLL has an expense ratio of 0.95% while IVV charges 0.03%. IVV is the cheaper option. On a $10,000 investment, that is $92 per year of difference.
Which performed better, GLL or IVV?
Over the past year GLL returned -47.38% vs +22.02% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (18 years), GLL annualized -22.42% vs +7.07% for IVV. Past performance does not guarantee future results.
Which is riskier, GLL or IVV?
GLL has been the more volatile fund at 32.3% annualized versus 15.1% for IVV. Worst drawdown: GLL -99.2% vs IVV -56.5%.
Should I hold both GLL and IVV?
GLL and IVV have a monthly-return correlation of -0.08, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between GLL and IVV?
GLL and IVV share 0 common holdings with a 0.0% weight overlap. Combined, they hold 506 unique securities.
Which pays a higher dividend, GLL or IVV?
GLL yields 0.00% while IVV yields 1.09%, so IVV currently pays the higher dividend yield.
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