{"url":"https://etfiq.com/compare/leverage/dull-vs-gll","section":"compare","title":"DULL vs GLL: which held to its multiple? | ETFIQ","description":"DULL sets out to return -3 times GLD each day and GLL -2 times. Over the three months to Sep 30, 2026 they finished \u22126.5 pts and \u22121.0 pts away.","as_of":"Sep 30, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Which came closer to its stated multiple, DULL or GLL?","acceptedAnswer":{"@type":"Answer","text":"Over the window to Sep 30, 2026, DULL finished 6.5 points from what its multiple implies and GLL finished 1.0 points from its own, so GLL came closer. Neither figure predicts the next window: it depends on how much the underlying moves about."}},{"@type":"Question","name":"Are DULL and GLL levered on the same thing?","acceptedAnswer":{"@type":"Answer","text":"Yes. Both are levered on gold, DULL at -3 times and GLL at -2 times the daily move."}},{"@type":"Question","name":"Which one decays faster, DULL or GLL?","acceptedAnswer":{"@type":"Answer","text":"Decay follows how much the underlying moves about. Over this window DULL\u2019s moved at 25% annualized and GLL\u2019s at 25%, so DULL has the rougher ride and, at the same multiple, loses more to compounding."}},{"@type":"Question","name":"Can I hold DULL or GLL for a year?","acceptedAnswer":{"@type":"Answer","text":"Both reset every day, so the multiple in the name applies to a single day and the daily results compound. Over a year the total is not the multiple times the year\u2019s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way."}}]},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"Leveraged ETFs","item":"https://etfiq.com/leverage/"},{"@type":"ListItem","position":3,"name":"DULL vs GLL","item":"https://etfiq.com/compare/leverage/dull-vs-gll"}]},{"@type":"WebPage","name":"DULL vs GLL: which held to its multiple?","description":"DULL sets out to return -3 times GLD each day and GLL -2 times. Over the three months to Sep 30, 2026 they finished \u22126.5 pts and \u22121.0 pts away.","url":"https://etfiq.com/compare/leverage/dull-vs-gll","dateModified":"2026-09-30","abstract":"Over three months against its own daily promise, DULL finished 1.2 points over and GLL 3.0 points over.","publisher":{"@id":"https://etfiq.com/#org"},"isPartOf":{"@id":"https://etfiq.com/#website"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".verdict",".faq"]}},{"@type":"Dataset","name":"ETFIQ comparison of DULL and GLL","description":"DULL sets out to return -3 times GLD each day and GLL -2 times. Over the three months to Sep 30, 2026 they finished \u22126.5 pts and \u22121.0 pts away.","dateModified":"2026-09-30","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/leverage/dull-vs-gll","license":"https://etfiq.com/standards/","publisher":{"@id":"https://etfiq.com/#org"},"inLanguage":"en","creativeWorkStatus":"Published","distribution":[{"@type":"DataDownload","encodingFormat":"application/json","contentUrl":"https://etfiq.com/data/leverage.json"}],"variableMeasured":["Stated multiple","Underlying return","What the stated multiple implies","Fund total return","Difference against the label","Volatility of the underlying","Expense ratio"],"keywords":["exchange-traded funds","ETF","Leveraged ETFs","fund data","SEC filings"]}],"characters":6591,"truncated":true,"content":"ETFIQ / Leveraged ETFs / Head to head / DULL vs GLL \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Sep 30, 2026 .\n\n DULL vs GLL: which held to its multiple?\n\n Over three months against its own daily promise, DULL finished 1.2 points over and GLL 3.0 points over.\n Copy this for sharing \n \n MicroSectors Gold -3X Inverse Leveraged ETNs due January 29, 2043 and ProShares UltraShort Gold.\n\n Download as PDF \n\n \u221214.8% DULL returned, 3 months \n \u22126.6% GLL returned, 3 months \n \u22126.5 pts DULL from its stated multiple \n \u22121.0 pts GLL from its stated multiple \n\n ETFIQ Decay Resistance Score: GLL scor","source":"ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.","publisher":{"@id":"https://etfiq.com/#org","name":"ETFIQ","url":"https://etfiq.com"},"license":"https://etfiq.com/license/","citation":"ETFIQ, as of Sep 30, 2026. https://etfiq.com/compare/leverage/dull-vs-gll","a":{"ticker":"DULL","name":"MicroSectors Gold -3X Inverse Leveraged ETNs due January 29, 2043","issuer":"MicroSectors","desk":"leverage","as_of":"2026-09-30","verdict":"Three months to Sep 30, 2026: DULL returned \u221214.8% where its own daily promise gave \u221215.9%, 1.2 points over.","url":"https://etfiq.com/funds/dull","key_facts":[{"label":"What GLD did","value":"+2.8%","as_of":"2026-09-30","source":null},{"label":"What \u22123 times a day gives","value":"\u221215.9%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"\u221214.8%","as_of":"2026-09-30","source":null},{"label":"The fund itself added","value":"+1.2 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"an exchange traded note holds no assets; it is the issuing bank\u2019s unsecured debt","as_of":"2026-09-30","source":null},{"label":"Expense ratio","value":"not read by ETFIQ","as_of":"2026-09-30","source":null}]},"b":{"ticker":"GLL","name":"ProShares UltraShort Gold","issuer":"ProShares","desk":"leverage","as_of":"2026-09-30","verdict":"Three months to Sep 30, 2026: GLL returned \u22126.6% where its own daily promise gave \u22129.5%, 3.0 points over.","url":"https://etfiq.com/funds/gll","key_facts":[{"label":"What GLD did","value":"+2.8%","as_of":"2026-09-30","source":null},{"label":"What \u22122 times a day gives","value":"\u22129.5%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"\u22126.6%","as_of":"2026-09-30","source":null},{"label":"The fund itself added","value":"+3.0 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$108m","as_of":"2026-09-30","source":"issuer page, as of Sep 30, 2026"},{"label":"Expense ratio","value":"0.95%","as_of":"2026-09-30","source":"issuer page"}]},"overlap_pct":null,"overlap_note":"ETFIQ does not publish a holdings overlap for this pair. Either the funds are not compared on holdings, or one book is incomplete.","full_text_at":"https://etfiq.com/compare/leverage/dull-vs-gll"}