BOIL vs. AESI

Last updated Jun 4, 2026

BOIL (ProShares Ultra Bloomberg Natural Gas) is Leveraged Commodities fund tracking the Bloomberg Natural Gas Subindex, while AESI (Atlas Energy Solutions Inc) is a stock. Over the past 3 years, BOIL returned -60.61%/yr vs 5.74%/yr for AESI. At a 0.05 correlation, their price movements are largely independent.

Performance

BOIL vs. AESI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Bloomberg Natural Gas (BOIL) and Atlas Energy Solutions Inc (AESI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BOIL achieves a -36.77% return, which is significantly lower than AESI's 90.13% return.

BOIL

• 1D: 4.32%
• 1M: 4.62%
• YTD: -36.77%
• 6M: -62.98%
• 1Y: -74.31%
• 3Y*: -60.61%
• 5Y*: -64.63%
• 10Y*: -56.95%

AESI

• 1D: -0.72%
• 1M: 0.90%
• YTD: 90.13%
• 6M: 84.64%
• 1Y: 41.12%
• 3Y*: 5.74%
• 5Y*: —
• 10Y*: —

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

BOIL vs. AESI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BOIL ProShares Ultra Bloomberg Natural Gas	-36.77%	-58.98%	-60.75%	-73.76%
AESI Atlas Energy Solutions Inc	90.13%	-55.28%	34.96%	5.56%

Correlation

The correlation between BOIL and AESI is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.01
Correlation (3Y) Calculated over the trailing 3-year period	0.04
Correlation (All Time) Calculated using the full available price history since Mar 10, 2023	0.05

Return for Risk

BOIL vs. AESI — Risk / Return Rank

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

BOIL

BOIL Risk / Return Rank: 3
BOIL Sharpe Ratio Rank: 3
BOIL Sortino Ratio Rank: 4
BOIL Omega Ratio Rank: 3
BOIL Calmar Ratio Rank: 1
BOIL Martin Ratio Rank: 3

AESI

AESI Risk / Return Rank: 61
AESI Sharpe Ratio Rank: 64
AESI Sortino Ratio Rank: 60
AESI Omega Ratio Rank: 60
AESI Calmar Ratio Rank: 60
AESI Martin Ratio Rank: 59

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. AESI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Bloomberg Natural Gas (BOIL) and Atlas Energy Solutions Inc (AESI). 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	AESI	Difference
Sharpe ratio: Return per unit of total volatility	-0.66	0.70	-1.36
Sortino ratio: Return per unit of downside risk	-0.78	1.29	-2.07
Omega ratio: Gain probability vs. loss probability	0.90	1.16	-0.26
Calmar ratio: Return relative to maximum drawdown	-0.92	0.95	-1.87
Martin ratio: Return relative to average drawdown	-1.26	1.98	-3.24
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. AESI - Sharpe Ratio Comparison

The current BOIL Sharpe Ratio is -0.66, which is lower than the AESI Sharpe Ratio of 0.70. The chart below compares the historical Sharpe Ratios of BOIL and AESI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BOIL	AESI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.66	0.70	-1.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.55	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.56	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.61	0.13	-0.74

Drawdowns

BOIL vs. AESI - Drawdown Comparison

The maximum BOIL drawdown since its inception was -100.00%, which is greater than AESI's maximum drawdown of -65.91%. Use the drawdown chart below to compare losses from any high point for BOIL and AESI.

Drawdown Indicators

	BOIL	AESI	Difference
Max Drawdown Largest peak-to-trough decline	-100.00%	-65.91%	-34.09%
Max Drawdown (1Y) Largest decline over 1 year	-80.85%	-43.54%	-37.31%
Max Drawdown (3Y) Largest decline over 3 years	-96.86%	-65.91%	-30.95%
Max Drawdown (5Y) Largest decline over 5 years	-99.91%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-99.99%	—	—
Current Drawdown Current decline from peak	-100.00%	-24.63%	-75.37%
Average Drawdown Average peak-to-trough decline	-93.59%	-25.28%	-68.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	59.20%	20.81%	+38.39%

Volatility

BOIL vs. AESI - Volatility Comparison

ProShares Ultra Bloomberg Natural Gas (BOIL) has a higher volatility of 23.95% compared to Atlas Energy Solutions Inc (AESI) at 16.46%. This indicates that BOIL's price experiences larger fluctuations and is considered to be riskier than AESI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BOIL	AESI	Difference
Volatility (1M) Calculated over the trailing 1-month period	23.95%	16.46%	+7.49%
Volatility (6M) Calculated over the trailing 6-month period	107.61%	40.31%	+67.30%
Volatility (1Y) Calculated over the trailing 1-year period	113.64%	59.02%	+54.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	118.89%	48.35%	+70.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	101.81%	48.35%	+53.46%

Dividends

BOIL vs. AESI - Dividend Comparison

BOIL has not paid dividends to shareholders, while AESI's dividend yield for the trailing twelve months is around 1.40%.

Position	TTM	2025	2024	2023
AESI Atlas Energy Solutions Inc	1.40%	7.96%	4.33%	4.07%
BOIL ProShares Ultra Bloomberg Natural Gas	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BOIL and AESI in my portfolio?

BOIL and AESI have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BOIL or AESI?

BOIL has higher volatility (23.95%) compared to AESI (16.46%). In terms of maximum drawdown, BOIL dropped -100.00% vs AESI's -65.91%.

Which has better risk-adjusted returns?

AESI currently has the higher Sharpe Ratio (0.70 vs -0.66), 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.