BOIL vs. ^XNG

Last updated Apr 2, 2026

Compare and contrast key facts about ProShares Ultra Bloomberg Natural Gas (BOIL) and NYSE Arca Natural Gas Index (^XNG).

BOIL is a passively managed fund by ProShares that tracks the performance of the Dow Jones-UBS Natural Gas Subindex (200%). It was launched on Oct 4, 2011.

Performance

BOIL vs. ^XNG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Bloomberg Natural Gas (BOIL) and NYSE Arca Natural Gas Index (^XNG). The values are adjusted to include any dividend payments, if applicable.

BOIL vs. ^XNG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BOIL ProShares Ultra Bloomberg Natural Gas	-33.36%	-58.98%	-60.75%	-92.00%	-31.85%	23.84%	-74.74%	-67.70%	-20.55%	-65.72%
^XNG NYSE Arca Natural Gas Index	24.95%	9.44%	16.55%	2.82%	22.57%	54.17%	-17.49%	-3.37%	-32.78%	-15.65%

Returns By Period

In the year-to-date period, BOIL achieves a -33.36% return, which is significantly lower than ^XNG's 24.95% return. Over the past 10 years, BOIL has underperformed ^XNG with an annualized return of -55.80%, while ^XNG has yielded a comparatively higher 6.67% annualized return.

BOIL

• 1D: -5.33%
• 1M: -14.17%
• YTD: -33.36%
• 6M: -52.97%
• 1Y: -80.61%
• 3Y*: -65.17%
• 5Y*: -62.88%
• 10Y*: -55.80%

^XNG

• 1D: -1.76%
• 1M: 3.48%
• YTD: 24.95%
• 6M: 21.20%
• 1Y: 24.70%
• 3Y*: 20.15%
• 5Y*: 19.40%
• 10Y*: 6.67%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

BOIL vs. ^XNG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BOIL

BOIL Risk / Return Rank: 2
BOIL Sharpe Ratio Rank: 2
BOIL Sortino Ratio Rank: 2
BOIL Omega Ratio Rank: 2
BOIL Calmar Ratio Rank: 0
BOIL Martin Ratio Rank: 2

^XNG

^XNG Risk / Return Rank: 79
^XNG Sharpe Ratio Rank: 83
^XNG Sortino Ratio Rank: 79
^XNG Omega Ratio Rank: 82
^XNG Calmar Ratio Rank: 75
^XNG Martin Ratio Rank: 77

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

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.

	BOIL	^XNG	Difference
Sharpe ratio Return per unit of total volatility	-0.67	1.32	-1.99
Sortino ratio Return per unit of downside risk	-0.97	1.72	-2.68
Omega ratio Gain probability vs. loss probability	0.88	1.26	-0.38
Calmar ratio Return relative to maximum drawdown	-1.00	1.83	-2.83
Martin ratio Return relative to average drawdown	-1.35	6.76	-8.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BOIL vs. ^XNG - Sharpe Ratio Comparison

The current BOIL Sharpe Ratio is -0.67, which is lower than the ^XNG Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of BOIL and ^XNG, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BOIL	^XNG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.67	1.32	-1.99
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.53	0.89	-1.42
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.55	0.23	-0.78
Sharpe Ratio (All Time) Calculated using the full available price history	-0.61	0.21	-0.83

Correlation

The correlation between BOIL and ^XNG is 0.27, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

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.

Drawdown Indicators

	BOIL	^XNG	Difference
Max Drawdown Largest peak-to-trough decline	-100.00%	-84.52%	-15.48%
Max Drawdown (1Y) Largest decline over 1 year	-82.08%	-14.10%	-67.98%
Max Drawdown (5Y) Largest decline over 5 years	-99.88%	-25.27%	-74.61%
Max Drawdown (10Y) Largest decline over 10 years	-99.98%	-77.64%	-22.34%
Current Drawdown Current decline from peak	-100.00%	-8.78%	-91.22%
Average Drawdown Average peak-to-trough decline	-93.51%	-27.37%	-66.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	60.88%	3.81%	+57.07%

Volatility

BOIL vs. ^XNG - Volatility Comparison

ProShares Ultra Bloomberg Natural Gas (BOIL) has a higher volatility of 29.37% compared to NYSE Arca Natural Gas Index (^XNG) at 4.73%. 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.

Volatility by Period

	BOIL	^XNG	Difference
Volatility (1M) Calculated over the trailing 1-month period	29.37%	4.73%	+24.64%
Volatility (6M) Calculated over the trailing 6-month period	109.37%	11.23%	+98.14%
Volatility (1Y) Calculated over the trailing 1-year period	120.58%	18.78%	+101.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	118.63%	21.89%	+96.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	101.93%	29.27%	+72.66%