# GLL (ProShares UltraShort Gold)

ProShares · Leveraged ETFs · data as of Sep 11, 2026

Three months to Sep 11, 2026: GLL returned −7.8% where its own daily promise gave −10.3%, 2.5 points over.

## Key facts

- GLL, what GLD did: +3.2%, as of Sep 11, 2026.
- GLL, what −2 times a day gives: −10.3%, as of Sep 11, 2026.
- GLL, what the fund returned: −7.8%, as of Sep 11, 2026.
- GLL, the fund itself added: +2.5 pts, as of Sep 11, 2026.
- GLL, expense ratio: not read by ETFIQ, as of Sep 11, 2026.
- GLL, underlying: GLD, as of Sep 11, 2026.

## GLL over each window to Sep 11, 2026

| Window | Fund | GLD | -2x the move | Difference | GLD moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | +2.7% | −1.5% | +3.0% | −0.3 pts | 27% |
| 3 months | −7.8% | +3.2% | −6.3% | −1.5 pts | 25% |
| 6 months | +26.5% | −13.5% | +26.9% | −0.4 pts | 27% |
| 1 year | −38.8% | +19.1% | −38.2% | −0.6 pts | 29% |
| 3 years | −80.9% | +124.7% | not meaningful over this window | not meaningful over this window | 21% |
| Since launch | −97.1% | +263.2% | not meaningful over this window | not meaningful over this window | 17% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | -2 times the daily move of GLD, reset daily | ETFIQ |
| Multiple a holder actually got over the window | GLD moved +3.2% over this window, too little to read a multiple from | ETFIQ |
| Underlying | GLD | ETFIQ |
| Segment | asset class, metal | ETFIQ |
| Expense ratio | not read by ETFIQ | ETFIQ |
| Launched | Jan 4, 2010 | ETFIQ |
| Underlying volatility over the window | 25% annualized | ETFIQ |

## Questions

### Did GLL return -2 times GLD?

Over the window to Sep 11, 2026, GLD moved +3.2% and GLL returned −7.8%. 2 times that move is −6.3%, so the fund came out 1.5 points short of it.

### Why does GLL not return -2 times over a year?

Because it resets daily. GLL aims at -2 times each day's move, and daily results compound. Over a run where the underlying falls and comes back, compounding a levered daily return leaves a holder behind what -2 times the period move would suggest; over a steady run in one direction it can leave them ahead. The longer the holding, and the more the underlying moves about, the further apart the two figures get.


## Cite this page

ETFIQ, GLL, data as of Sep 11, 2026. https://etfiq.com/funds/GLL
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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