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UGL · Proshares Ultra Gold
Over the last 15 years (2011-09 to 2026-09), $10,000 invested in UGL with dividends reinvested grew to $16,085, 3.20% a year, with a worst peak-to-trough fall of -73.45%. Past performance doesn't predict future results.
Growth of $10,000 · 2011-09 to 2026-09 · dividends reinvested
How UGL held up in past market crashes
UGL has been through 3 of the market crashes since 2000 in our data. Its deepest price fall was 40.1% in the 2022 bear market, when the S&P 500 fell 25.4%. It took 18 months from the bottom to get back to its high. No fund is safe from losses; past falls do not predict future ones.
| Crash | UGL deepest fall | S&P 500 (SPY) | Peak to bottom | Back to peak |
|---|---|---|---|---|
| 2018 fourth-quarter selloff | -5.4% | -20.2% | Oct 2018 to Nov 2018 | 1 months |
| 2020 COVID crash | -23.4% | -34.1% | Mar 2020 to Mar 2020 | 1 months |
| 2022 bear market | -40.1% | -25.4% | Mar 2022 to Sep 2022 | 18 months |
Price declines in the fund's listing currency, dividends not included, inside each crash's S&P 500 peak-to-bottom window. See how 50 popular ETFs compare in the crash study.
About UGL
ProShares Ultra Gold is a leveraged commodity exchange-traded fund designed to provide twice the daily performance of gold futures, measured by the Bloomberg Gold Subindex. The fund uses financial instruments such as swap agreements, futures contracts, forward contracts, and options to create synthetic exposure to the gold market rather than holding physical bullion. It is used by market participants seeking amplified short-term exposure to gold price movements within a single tradable fund structure. ProShares Ultra Gold focuses on the precious metals segment and is a specialized tool within the broader commodities market, making it distinct from traditional gold funds that aim to track spot prices or hold bullion directly.
Put UGL to the test
Every tool below opens prefilled with UGL: free, no account needed.
Backtest UGL →
Full history, any date range, benchmarks, drawdowns, rolling returns.
Would UGL survive 2008? →
What actually happened to it in the crisis: real drawdown and recovery.
Project it forward →
Monte Carlo simulation of where it could go from here.
Compare UGL vs VTI →
Head-to-head against the total US market.
Replay $100/mo into UGL →
Animated growth of steady monthly contributions.
Fundamentals →
Holdings-level financials where available.
Educational use only, not investment advice. Results are hypothetical.Read full disclaimer
This tool is for educational and informational purposes only and does not provide financial, investment, tax, legal, or accounting advice. Results are hypothetical and based on historical data and assumptions that may be inaccurate. Past performance does not guarantee future results. Consult a licensed professional before making investment decisions.