{"url":"https://etfiq.com/compare/leverage/ugl-vs-ugld","section":"compare","title":"UGL vs UGLD: which held to its multiple? | ETFIQ","description":"UGL sets out to return +2 times GLD each day and UGLD +2 times. Over the three months to Sep 30, 2026 they finished \u22122.4 pts and \u22123.9 pts away.","as_of":"Sep 30, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Which came closer to its stated multiple, UGL or UGLD?","acceptedAnswer":{"@type":"Answer","text":"Over the window to Sep 30, 2026, UGL finished 2.4 points from what its multiple implies and UGLD finished 3.9 points from its own, so UGL came closer. Neither figure predicts the next window: it depends on how much the underlying moves about."}},{"@type":"Question","name":"Are UGL and UGLD levered on the same thing?","acceptedAnswer":{"@type":"Answer","text":"Yes. Both are levered on gold, UGL at +2 times and UGLD at +2 times the daily move."}},{"@type":"Question","name":"Which one decays faster, UGL or UGLD?","acceptedAnswer":{"@type":"Answer","text":"Decay follows how much the underlying moves about. Over this window UGL\u2019s moved at 25% annualized and UGLD\u2019s at 25%, so UGL has the rougher ride and, at the same multiple, loses more to compounding."}},{"@type":"Question","name":"Can I hold UGL or UGLD 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":"Question","name":"Which is cheaper, UGL or UGLD?","acceptedAnswer":{"@type":"Answer","text":"UGL charges 0.95% a year and UGLD charges 1.07%, so UGL is cheaper. Fees come from each fund's prospectus."}}]},{"@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":"UGL vs UGLD","item":"https://etfiq.com/compare/leverage/ugl-vs-ugld"}]},{"@type":"WebPage","name":"UGL vs UGLD: which held to its multiple?","description":"UGL sets out to return +2 times GLD each day and UGLD +2 times. Over the three months to Sep 30, 2026 they finished \u22122.4 pts and \u22123.9 pts away.","url":"https://etfiq.com/compare/leverage/ugl-vs-ugld","dateModified":"2026-09-30","abstract":"Over the days both have traded, UGL finished 2.4 points from its stated multiple and UGLD 3.9.","publisher":{"@id":"https://etfiq.com/#org"},"isPartOf":{"@id":"https://etfiq.com/#website"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".verdict",".faq"]}},{"@type":"Dataset","name":"ETFIQ comparison of UGL and UGLD","description":"UGL sets out to return +2 times GLD each day and UGLD +2 times. Over the three months to Sep 30, 2026 they finished \u22122.4 pts and \u22123.9 pts away.","dateModified":"2026-09-30","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/leverage/ugl-vs-ugld","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":6444,"truncated":true,"content":"ETFIQ / Leveraged ETFs / Head to head / UGL vs UGLD \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Sep 30, 2026 .\n\n UGL vs UGLD: which held to its multiple?\n\n Over the days both have traded, UGL finished 2.4 points from its stated multiple and UGLD 3.9.\n Copy this for sharing \n \n ProShares Ultra Gold and Direxion Daily Gold Bull 2X ETF.\n\n Download as PDF \n\n +3.1% UGL returned, 3 months \n +1.6% UGLD returned, 3 months \n \u22122.4 pts UGL from its stated multiple \n \u22123.9 pts UGLD from its stated multiple \n\n ETFIQ Decay Resistance Score: UGL scores higher\n Did it keep up with its own daily mult","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/ugl-vs-ugld","a":{"ticker":"UGL","name":"ProShares Ultra Gold","issuer":"ProShares","desk":"leverage","as_of":"2026-09-30","verdict":"Three months to Sep 30, 2026: UGL returned +3.1% where its own daily promise gave +4.0%, 0.9 points short.","url":"https://etfiq.com/funds/ugl","key_facts":[{"label":"What GLD did","value":"+2.8%","as_of":"2026-09-30","source":null},{"label":"What 2 times a day gives","value":"+4.0%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"+3.1%","as_of":"2026-09-30","source":null},{"label":"The fund itself cost","value":"\u22120.9 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$765m","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"}]},"b":{"ticker":"UGLD","name":"Direxion Daily Gold Bull 2X ETF","issuer":"Direxion","desk":"leverage","as_of":"2026-09-30","verdict":"Three months to Sep 30, 2026: UGLD returned +1.6% where its own daily promise gave +4.0%, 2.4 points short.","url":"https://etfiq.com/funds/ugld","key_facts":[{"label":"What GLD did","value":"+2.8%","as_of":"2026-09-30","source":null},{"label":"What 2 times a day gives","value":"+4.0%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"+1.6%","as_of":"2026-09-30","source":null},{"label":"The fund itself cost","value":"\u22122.4 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$10m","as_of":"2026-09-30","source":"issuer page, as of Sep 30, 2026"},{"label":"Expense ratio","value":"1.07%","as_of":"2026-09-30","source":"485BPOS XBRL, Apr 29, 2026"}]},"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/ugl-vs-ugld"}