PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan

ProShares Ultra Bloomberg Natural Gas (BOIL) Diversifiers

ETF · Currency in USD · Last updated Jun 24, 2026

BOIL is an exchange-traded fund (ETF) managed by ProShares, a provider of ETFs that focus on alternative and leveraged investment strategies. The fund seeks daily investment results that correspond to two times (2x) the daily performance of the Bloomberg Natural Gas Subindex, a benchmark for natural gas futures.

The main feature of BOIL is its 2x leveraged exposure to natural gas futures, achieved primarily through financial instruments such as futures contracts and swap agreements. As a result, BOIL is designed for investors looking for a high-risk, high-reward investment strategy and willing to accept significant volatility in their portfolio. Because returns compound daily, BOIL is intended for short-term tactical trading rather than a buy-and-hold strategy, and performance over periods longer than a single day can diverge significantly from 2x the underlying index's return.

BOIL was launched on October 4, 2011, and is issued by ProShares. Investors should carefully review the fund's current prospectus for the most up-to-date expense ratio and risk information before investing.

Looking to diversify beyond BOIL? The ETFs below have the lowest correlation with BOIL — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from BOIL.

Best Diversifiers for BOIL

1949 ETFs have low correlation with BOIL (below 0.3), 1850 of which are negatively correlated. The least correlated is Innovator Russell 2000 Power Buffer ETF - July (KJUL) (Defined Outcome) with a 1Y correlation of -0.30, down from 0.03 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
KJUL
Innovator Russell 2000 Power Buffer ETF - July-0.30-0.070.03
88
Defined OutcomeBOIL vs KJUL
BULD
Pacer BlueStar Engineering the Future ETF-0.30-0.09—
73
Technology EquitiesBOIL vs BULD
KAUG
Innovator U.S. Small Cap Power Buffer ETF-0.28——
74
Defined OutcomeBOIL vs KAUG
VTWG
Vanguard Russell 2000 Growth ETF-0.28-0.080.01
54
Small Cap Growth EquitiesBOIL vs VTWG
GSSC
Goldman Sachs ActiveBeta US Small Cap Equity ETF-0.28-0.080.03
60
Small Cap Growth EquitiesBOIL vs GSSC
See all 1950 diversifiers for BOIL

To view more results, upgrade your current subscription plan.

Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from BOIL, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to BOIL and solid risk/return profiles. The least correlated is Caterpillar Inc. (CAT) (Industrials) with a 1Y correlation of -0.23, down from 0.03 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
CAT
Caterpillar Inc.-0.23-0.060.03
98
Industrials
KLAC
KLA Corporation-0.23-0.080.02
96
Technology
AMAT
Applied Materials, Inc.-0.23-0.070.03
97
Technology
ASML
ASML Holding N.V.-0.22-0.080.02
94
Technology
LRCX
Lam Research Corporation-0.21-0.060.03
98
Technology
See all 123 low-correlation stocks for BOIL

To view more results, upgrade your current subscription plan.

Diversification Analysis

Build a portfolio that complements BOIL

Add BOIL to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.

Analyze a portfolio with BOIL