ProShares Ultra Gold (UGL): Historical Returns

Data Source: from January 2009 to March 2024 (~15 years)
Consolidated Returns as of 31 March 2024
Live Update: Apr 19 2024, 01:56PM Eastern Time
Category: Commodities
ProShares Ultra Gold (UGL) ETF
ETF • LIVE PERFORMANCE (USD currency)
1.05%
1 Day
Apr 19 2024, 01:56PM Eastern Time
15.37%
Current Month
April 2024

In the last 10 Years, the ProShares Ultra Gold (UGL) ETF obtained a 4.54% compound annual return, with a 28.25% standard deviation.

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The ETF is related to the following investment themes:

  • Leveraged: 2x
  • Asset Class: Commodity
  • Commodity: Gold

The ProShares Ultra Gold (UGL) ETF is part of the following Lazy Portfolios:

Portfolio Name Author UGL Weight Currency
Simplified Permanent Portfolio 2x Leveraged 25.00% USD
Golden Butterfly 2x Leveraged 20.00% USD
Desert Portfolio 2x Leveraged Gyroscopic Investing 10.00% USD
All Weather Portfolio 2x Leveraged Ray Dalio 7.50% USD

Investment Returns as of Mar 31, 2024

The ProShares Ultra Gold (UGL) ETF guaranteed the following returns.

Returns are calculated in USD, assuming:
  • no fees or capital gain taxes.
  • the actual US Inflation rates.
PROSHARES ULTRA GOLD (UGL) ETF
Consolidated returns as of 31 March 2024
Live Update: Apr 19 2024, 01:56PM Eastern Time
Swipe left to see all data
  Chg (%) Return (%) Return (%) as of Mar 31, 2024
  1 Day Time ET(*) Apr 2024 1M 6M 1Y 5Y 10Y MAX
(~15Y)
ProShares Ultra Gold (UGL) ETF 1.05 15.37 17.23 37.38 14.66 14.18 4.54 5.57
US Inflation Adjusted return 16.79 35.20 10.81 9.58 1.66 2.91
Returns over 1 year are annualized | Available data source: since Jan 2009
(*) Eastern Time (ET - America/New York)
US Inflation is updated to Mar 2024. Current inflation (annualized) is 1Y: 3.48% , 5Y: 4.19% , 10Y: 2.84%

Capital Growth as of Mar 31, 2024

An investment of 1$, since April 2014, now would be worth 1.56$, with a total return of 55.93% (4.54% annualized).

The Inflation Adjusted Capital now would be 1.18$, with a net total return of 17.88% (1.66% annualized).
An investment of 1$, since January 2009, now would be worth 2.29$, with a total return of 128.67% (5.57% annualized).

The Inflation Adjusted Capital now would be 1.55$, with a net total return of 54.82% (2.91% annualized).

Investment Metrics as of Mar 31, 2024

Metrics of ProShares Ultra Gold (UGL) ETF, updated as of 31 March 2024.

Metrics are calculated based on monthly returns, assuming:
  • no fees or capital gain taxes.
  • the actual US Inflation rates.
PROSHARES ULTRA GOLD (UGL) ETF
Advanced Metrics
Data Source: 1 January 2009 - 31 March 2024 (~15 years)
Swipe left to see all data
Metrics as of Mar 31, 2024
1M 3M 6M 1Y 3Y 5Y 10Y MAX
(~15Y)
Investment Return (%) 17.23 13.14 37.38 14.66 10.26 14.18 4.54 5.57
Infl. Adjusted Return (%) details 16.79 11.87 35.20 10.81 4.38 9.58 1.66 2.91
US Inflation (%) 0.38 1.13 1.61 3.48 5.63 4.19 2.84 2.59
Returns / Inflation rates over 1 year are annualized.
DRAWDOWN
Inflation Adjusted:
Inflation Adjusted:
1Y 3Y 5Y 10Y MAX
Deepest Drawdown Depth (%) -17.37 -32.49 -41.48 -41.48 -73.45
Start to Recovery (# months) details 8 34 44* 44* 151*
Start (yyyy mm) 2023 05 2021 06 2020 08 2020 08 2011 09
Start to Bottom (# months) 5 17 27 27 52
Bottom (yyyy mm) 2023 09 2022 10 2022 10 2022 10 2015 12
Bottom to End (# months) 3 17 17 17 99
End (yyyy mm) 2023 12 2024 03 - - -
Longest Drawdown Depth (%)
same as
deepest

same as
deepest

same as
deepest
-39.83
same as
deepest
Start to Recovery (# months) details 62
Start (yyyy mm) 2023 05 2021 06 2020 08 2014 07 2011 09
Start to Bottom (# months) 5 17 27 18 52
Bottom (yyyy mm) 2023 09 2022 10 2022 10 2015 12 2015 12
Bottom to End (# months) 3 17 17 44 99
End (yyyy mm) 2023 12 2024 03 - 2019 08 -
Longest negative period (# months) details 11 33 44 103 160
Period Start (yyyy mm) 2023 04 2021 06 2020 02 2014 04 2010 06
Period End (yyyy mm) 2024 02 2024 02 2023 09 2022 10 2023 09
Annualized Return (%) -2.39 -2.79 -0.33 -0.35 -0.14
Drawdowns / Negative periods marked with * are in progress
Deepest Drawdown Depth (%) -18.52 -39.16 -49.23 -49.23 -74.75
Start to Recovery (# months) details 11 34* 44* 44* 151*
Start (yyyy mm) 2023 05 2021 06 2020 08 2020 08 2011 09
Start to Bottom (# months) 5 17 27 27 52
Bottom (yyyy mm) 2023 09 2022 10 2022 10 2022 10 2015 12
Bottom to End (# months) 6 17 17 17 99
End (yyyy mm) 2024 03 - - - -
Longest Drawdown Depth (%)
same as
deepest

same as
deepest

same as
deepest
-39.96
same as
deepest
Start to Recovery (# months) details 70
Start (yyyy mm) 2023 05 2021 06 2020 08 2014 07 2011 09
Start to Bottom (# months) 5 17 27 18 52
Bottom (yyyy mm) 2023 09 2022 10 2022 10 2015 12 2015 12
Bottom to End (# months) 6 17 17 52 99
End (yyyy mm) 2024 03 - - 2020 04 -
Longest negative period (# months) details 11 35 51 116 172
Period Start (yyyy mm) 2023 04 2021 04 2019 07 2014 07 2009 06
Period End (yyyy mm) 2024 02 2024 02 2023 09 2024 02 2023 09
Annualized Return (%) -5.57 -0.91 -0.06 -0.51 -0.14
Drawdowns / Negative periods marked with * are in progress
RISK INDICATORS
1Y 3Y 5Y 10Y MAX
Standard Deviation (%) 26.21 28.62 29.42 28.25 32.25
Sharpe Ratio 0.36 0.27 0.42 0.12 0.05
Sortino Ratio 0.60 0.42 0.64 0.18 0.07
Ulcer Index 6.40 13.84 20.13 21.81 49.47
Ratio: Return / Standard Deviation 0.56 0.36 0.48 0.16 0.17
Ratio: Return / Deepest Drawdown 0.84 0.32 0.34 0.11 0.08
% Positive Months details 58% 50% 48% 46% 48%
Positive Months 7 18 29 56 89
Negative Months 5 18 31 64 94
LONG TERM RETURNS
Inflation Adjusted:
Inflation Adjusted:
1Y 3Y 5Y 10Y MAX
Best 10 Years Return (%) - Annualized 4.54 4.54
Worst 10 Years Return (%) - Annualized -7.00
Best 10 Years Return (%) - Annualized 1.66 2.61
Worst 10 Years Return (%) - Annualized -9.28
ROLLING PERIODS
Inflation Adjusted:
Inflation Adjusted:
1Y 3Y 5Y 10Y MAX
Over the latest 10Y
Best Rolling Return (%) - Annualized 76.00 25.03 18.98 4.54
Worst Rolling Return (%) - Annualized -29.80 -8.64 -4.82
% Positive Periods 53% 67% 91% 100%
SWR - Safe Withdrawal Rate (%) - 100% Success - Annualized 77.92 23.38 15.07 9.03
PWR - Perpetual Withdrawal Rate (%) - 100% Success - Annualized - - - 1.37
WR calculated based on initial capital | Monthly withdrawals adjusted for inflation | Credits: BestRetirementPortfolio.com
Best Rolling Return (%) - Annualized 74.23 22.71 17.05 1.66
Worst Rolling Return (%) - Annualized -29.96 -13.43 -6.26
% Positive Periods 50% 52% 86% 100%
SWR - Safe Withdrawal Rate (%) - 100% Success - Annualized 77.92 23.38 15.07 9.03
PWR - Perpetual Withdrawal Rate (%) - 100% Success - Annualized - - - 1.37
WR calculated based on initial capital | Monthly withdrawals adjusted for inflation | Credits: BestRetirementPortfolio.com
Over all the available data source (Jan 2009 - Mar 2024)
Best Rolling Return (%) - Annualized 100.97 41.71 18.98 4.54
Worst Rolling Return (%) - Annualized -51.65 -30.55 -19.12 -7.00
% Positive Periods 53% 52% 54% 53%
SWR - Safe Withdrawal Rate (%) - 100% Success - Annualized 65.51 16.23 8.63 3.90
PWR - Perpetual Withdrawal Rate (%) - 100% Success - Annualized - - - -
WR calculated based on initial capital | Monthly withdrawals adjusted for inflation | Credits: BestRetirementPortfolio.com
Best Rolling Return (%) - Annualized 93.70 38.22 17.05 2.61
Worst Rolling Return (%) - Annualized -52.37 -31.22 -20.14 -9.28
% Positive Periods 51% 41% 50% 18%
SWR - Safe Withdrawal Rate (%) - 100% Success - Annualized 65.51 16.23 8.63 3.90
PWR - Perpetual Withdrawal Rate (%) - 100% Success - Annualized - - - -
WR calculated based on initial capital | Monthly withdrawals adjusted for inflation | Credits: BestRetirementPortfolio.com
Terms and Definitions
  • Annualized Portfolio Return: it's the annualized geometric mean return of the portfolio.
  • Deepest/Longest Drawdown: a drawdown refers to the decline in value from a relative peak value to a relative trough. The deepest (or maximum) drawdown is the maximum observed loss from a peak to a trough of a portfolio before a new peak is attained. The longest drawdown is the period observed from a peak to the subsequent peak with the greatest duration.
  • Longest negative period: it's the maximum period for which an overall negative return has been observed.
  • Standard Deviation: it's a measure of the dispersion of returns around the mean.
  • Sharpe Ratio: it's a measure of risk-adjusted performance of the portfolio. It's calculated by dividing the excess return of the portfolio over the risk-free rate by the portfolio standard deviation. The risk-free rate here considered is the 1-3 Mth T-Bill return.
  • Sortino Ratio: another measure of risk-adjusted performance of the portfolio. It's a modification of the Sharpe Ratio (same formula but the denominator is the portfolio downside standard deviation).
  • Ulcer Index: it's a measure of downside risk that quantifies the depth and duration of drawdowns in an investment portfolio.
  • Best/Worst 10Y returns: the best and the worst 10-year return over a time frame.
  • Rolling Returns: N-year returns over a time frame, calculated over all the available data source (best, worst, % of positive returns). Each rolling period, longer than the longest negative period, yielded a non-negative minimum return.
  • Safe Withdrawal Rate (SWR): it's the percentage of the initial portfolio balance that can be withdrawn at the beginning of each month with inflation adjustment, without the portfolio running out of money in any case (money amount withdrawal).
    For instance: Your initial invested capital is 100.000$; withdrawal rate (annualized) is 4%. This means that, in the first month, you will withdraw 100.000 * 4% * 1/12 = 333.33$. The second month, you’ll withdraw 333.33$ plus the inflation monthly rate. You’ll continue adjusting your withdraw monthly for inflation.
  • Perpetual Withdrawal Rate (PWR): it's the percentage of the initial portfolio balance that can be withdrawn at the beginning of each month with inflation adjustment, preserving the original invested capital, adjusted for inflation too.

Correlations as of Mar 31, 2024

Correlation measures to what degree the returns of the two assets move in relation to each other.

Correlation coefficient is a numerical value between -1 and +1. If one variable goes up by a certain amount, the correlation coefficient indicates which way the other variable moves and by how much.
Asset correlations are calculated based on monthly returns.

Monthly correlations of ProShares Ultra Gold (UGL) ETF vs the main Asset Classes, over different timeframes. Columns are sortable (click on table header to sort).

PROSHARES ULTRA GOLD (UGL) ETF
Monthly correlations as of 31 March 2024
Swipe left to see all data
Correlation vs UGL
Asset Class 1 Year 5 Years 10 Years Since
Jan 2009
VTI
US Total Stock Market
0.15
0.23
0.09
0.10
SPY
US Large Cap
0.18
0.25
0.10
0.11
IJR
US Small Cap
0.14
0.09
-0.02
0.01
VNQ
US REITs
0.23
0.28
0.19
0.14
QQQ
US Technology
0.01
0.25
0.09
0.11
PFF
Preferred Stocks
-0.07
0.25
0.20
0.13
EFA
EAFE Stocks
0.27
0.29
0.17
0.17
VT
World All Countries
0.20
0.27
0.15
0.17
EEM
Emerging Markets
0.26
0.36
0.31
0.29
VGK
Europe
0.31
0.29
0.18
0.18
VPL
Pacific
0.23
0.29
0.16
0.16
FLLA
Latin America
0.03
0.19
0.26
0.28
BND
US Total Bond Market
0.27
0.48
0.46
0.39
TLT
Long Term Treasuries
0.22
0.42
0.42
0.27
BIL
US Cash
-0.05
0.10
0.11
0.06
TIP
TIPS
0.36
0.48
0.48
0.46
LQD
Invest. Grade Bonds
0.26
0.46
0.42
0.34
HYG
High Yield Bonds
0.20
0.31
0.27
0.16
CWB
US Convertible Bonds
0.05
0.20
0.14
0.14
BNDX
International Bonds
0.37
0.43
0.37
0.31
EMB
Emerg. Market Bonds
0.33
0.43
0.40
0.32
GLD
Gold
1.00
1.00
1.00
1.00
DBC
Commodities
0.16
0.06
0.12
0.29

If you want to learn more about historical correlations, you can find out here how the main asset class are correlated to each other.

Drawdowns

A drawdown refers to the decline in value from a relative peak value to a relative trough. A maximum drawdown is the maximum observed loss from a peak to a trough of a portfolio before a new peak is attained.

PROSHARES ULTRA GOLD (UGL) ETF
Drawdown periods
Drawdown periods - Inflation Adjusted
Data Source: 1 April 2014 - 31 March 2024 (10 Years)
Data Source: 1 January 2009 - 31 March 2024 (~15 years)
Inflation Adjusted:
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Rolling Returns

( more details)

A rolling return is a measure of investment performance that calculates the return of an investment over a set period of time, with the starting date rolling forward. This approach can provide a more accurate representation of the investment's historical performance and helps investors to evaluate the investment's consistency over time.

PROSHARES ULTRA GOLD (UGL) ETF
Annualized Rolling Returns
Annualized Rolling Returns - Inflation Adjusted
Data Source: 1 April 2014 - 31 March 2024 (10 Years)
Data Source: 1 January 2009 - 31 March 2024 (~15 years)
Inflation Adjusted:

If you need a deeper detail about rolling returns, please refer to the ProShares Ultra Gold (UGL) ETF: Rolling Returns page.

Seasonality

In which months is it better to invest in ProShares Ultra Gold (UGL) ETF?

Both the Average Return and the Gain Frequency (Win %) are useful to get an idea of what happened in the past.
For further information about the seasonality, check the Asset Class Seasonality page.
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Monthly Returns

This section provides a visual/tabular representation of the performance variability in the ProShares Ultra Gold (UGL) ETF over time. It illustrates the distribution of monthly returns, showcasing the range and frequency of positive and negative returns.

PROSHARES ULTRA GOLD (UGL) ETF
Monthly Returns Distribution
Data Source: 1 April 2014 - 31 March 2024 (10 Years)
Data Source: 1 January 2009 - 31 March 2024 (~15 years)
56 Positive Months (47%) - 64 Negative Months (53%)
89 Positive Months (49%) - 94 Negative Months (51%)
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(Scroll down to see all data)
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