BOIL vs. ^XNG
BOIL (ProShares Ultra Bloomberg Natural Gas) is Oil & Gas fund tracking the Bloomberg Natural Gas Subindex, while ^XNG (NYSE Arca Natural Gas Index) is an index. Over the past 10 years, BOIL returned -57.67%/yr vs 3.97%/yr for ^XNG. At a 0.27 correlation, their price movements are largely independent.
Performance
BOIL vs. ^XNG - Performance Comparison
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Returns By Period
In the year-to-date period, BOIL achieves a -38.60% return, which is significantly lower than ^XNG's 16.47% return. Over the past 10 years, BOIL has underperformed ^XNG with an annualized return of -57.67%, while ^XNG has yielded a comparatively higher 3.97% annualized return.
BOIL
- 1D
- 4.15%
- 1M
- 10.36%
- YTD
- -38.60%
- 6M
- -41.10%
- 1Y
- -72.68%
- 3Y*
- -66.02%
- 5Y*
- -66.45%
- 10Y*
- -57.67%
^XNG
- 1D
- -0.69%
- 1M
- -5.82%
- YTD
- 16.47%
- 6M
- 16.91%
- 1Y
- 17.79%
- 3Y*
- 16.81%
- 5Y*
- 15.00%
- 10Y*
- 3.97%
BOIL vs. ^XNG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BOIL ProShares Ultra Bloomberg Natural Gas | -38.60% | -58.98% | -60.75% | -92.00% | -31.85% | 23.84% | -74.74% | -67.70% | -20.55% | -65.72% |
^XNG NYSE Arca Natural Gas Index | 16.47% | 9.44% | 16.55% | 2.82% | 22.57% | 54.17% | -17.49% | -3.37% | -32.78% | -15.65% |
Correlation
The correlation between BOIL and ^XNG is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.30 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.34 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since Oct 6, 2011 | 0.27 |
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Return for Risk
BOIL vs. ^XNG — Risk / Return Rank
BOIL
^XNG
BOIL vs. ^XNG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Bloomberg Natural Gas (BOIL) and NYSE Arca Natural Gas Index (^XNG). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BOIL | ^XNG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.77 | ||
| Sortino ratioReturn per unit of downside risk | -2.31 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.19 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | -0.94 | 1.52 | -2.46 |
| Martin ratioReturn relative to average drawdown | -1.30 | 4.32 | -5.62 |
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Drawdowns
BOIL vs. ^XNG - Drawdown Comparison
The maximum BOIL drawdown since its inception was -100.00%, which is greater than ^XNG's maximum drawdown of -84.52%. Use the drawdown chart below to compare losses from any high point for BOIL and ^XNG.
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Drawdown Indicators
| BOIL | ^XNG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -84.52% | -15.48% |
Max Drawdown (1Y)Largest decline over 1 year | -77.43% | -11.79% | -65.64% |
Max Drawdown (3Y)Largest decline over 3 years | -96.86% | -14.10% | -82.76% |
Max Drawdown (5Y)Largest decline over 5 years | -99.91% | -25.27% | -74.64% |
Max Drawdown (10Y)Largest decline over 10 years | -99.99% | -77.64% | -22.35% |
Current DrawdownCurrent decline from peak | -100.00% | -14.97% | -85.03% |
Average DrawdownAverage peak-to-trough decline | -93.59% | -27.27% | -66.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 55.95% | 4.13% | +51.82% |
Volatility
BOIL vs. ^XNG - Volatility Comparison
ProShares Ultra Bloomberg Natural Gas (BOIL) has a higher volatility of 22.78% compared to NYSE Arca Natural Gas Index (^XNG) at 5.35%. This indicates that BOIL's price experiences larger fluctuations and is considered to be riskier than ^XNG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BOIL | ^XNG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.78% | 5.35% | +17.43% |
Volatility (6M)Calculated over the trailing 6-month period | 104.55% | 12.55% | +92.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 113.22% | 15.84% | +97.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 118.95% | 21.72% | +97.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 101.83% | 28.78% | +73.05% |
Frequently Asked Questions
BOIL and ^XNG have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BOIL has higher volatility (22.78%) compared to ^XNG (5.35%). In terms of maximum drawdown, BOIL dropped -100.00% vs ^XNG's -84.52%.
^XNG currently has the higher Sharpe Ratio (1.13 vs -0.64), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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