BOIL vs. FCG
BOIL (ProShares Ultra Bloomberg Natural Gas) and FCG (First Trust Natural Gas ETF) are both exchange-traded funds - BOIL is a Oil & Gas fund tracking the Bloomberg Natural Gas Subindex, while FCG is a Energy Equities fund tracking the Nasdaq FactSet Natural Gas Index. Both are passively managed. Over the past 10 years, BOIL returned -58.99%/yr vs 4.86%/yr for FCG. Their 0.25 correlation means their historical movements had little consistent relationship. BOIL charges 1.31%/yr vs 0.59%/yr for FCG.
Performance
BOIL vs. FCG - Performance Comparison
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Returns By Period
In the year-to-date period, BOIL achieves a -55.20% return, which is significantly lower than FCG's 26.67% return. Over the past 10 years, BOIL has underperformed FCG with an annualized return of -58.99%, while FCG has yielded a comparatively higher 4.86% annualized return.
BOIL
- 1D
- 1.23%
- 1M
- -22.39%
- 6M
- -74.77%
- YTD
- -55.20%
- 1Y
- -71.40%
- 3Y*
- -67.40%
- 5Y*
- -69.84%
- 10Y*
- -58.99%
- ALL TIME*
- -57.95%
FCG
- 1D
- 1.91%
- 1M
- 11.01%
- 6M
- 15.79%
- YTD
- 26.67%
- 1Y
- 31.20%
- 3Y*
- 7.40%
- 5Y*
- 19.13%
- 10Y*
- 4.86%
- ALL TIME*
- -4.44%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $86.80M | $100.03M | $104.47M | |
| $18.46M | $17.58M | $23.74M |
BOIL vs. FCG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BOIL ProShares Ultra Bloomberg Natural Gas | -55.20% | -58.98% | -60.75% | -92.00% | -31.85% | 23.84% | -74.74% | -67.70% | -20.55% | -65.72% |
FCG First Trust Natural Gas ETF | 26.67% | -2.28% | 4.16% | 2.55% | 47.24% | 98.49% | -23.20% | -15.76% | -34.81% | -11.38% |
Correlation
The correlation between BOIL and FCG is 0.34, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.34 |
Correlation (3Y) Balances recent behavior with more history. | 0.30 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.32 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.26 |
Correlation (All Time) Calculated using the full available price history since Oct 6, 2011 | 0.25 |
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Return for Risk
BOIL vs. FCG — Risk / Return Rank
BOIL
FCG
BOIL vs. FCG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Bloomberg Natural Gas (BOIL) and First Trust Natural Gas ETF (FCG). 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 | FCG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.63 | ||
| Sortino ratioReturn per unit of downside risk | -2.13 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.17 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | -0.92 | 1.38 | -2.30 |
| Martin ratioReturn relative to average drawdown | -1.40 | 3.45 | -4.86 |
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Drawdowns
BOIL vs. FCG - Drawdown Comparison
The maximum BOIL drawdown since its inception was -100.00%, roughly equal to the maximum FCG drawdown of -97.20%. Use the drawdown chart below to compare losses from any high point for BOIL and FCG.
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Drawdown Indicators
| BOIL | FCG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -97.20% | -2.80% |
Max Drawdown (1Y)Largest decline over 1 year | -77.68% | -19.67% | -58.01% |
Max Drawdown (3Y)Largest decline over 3 years | -97.48% | -29.44% | -68.04% |
Max Drawdown (5Y)Largest decline over 5 years | -99.93% | -33.33% | -66.60% |
Max Drawdown (10Y)Largest decline over 10 years | -99.99% | -85.04% | -14.95% |
Current DrawdownCurrent decline from peak | -100.00% | -74.46% | -25.54% |
Average DrawdownAverage peak-to-trough decline | -93.63% | -65.45% | -28.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 50.79% | 7.87% | +42.92% |
Volatility
BOIL vs. FCG - Volatility Comparison
ProShares Ultra Bloomberg Natural Gas (BOIL) has a higher volatility of 18.90% compared to First Trust Natural Gas ETF (FCG) at 8.83%. This indicates that BOIL's price experiences larger fluctuations and is considered to be riskier than FCG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BOIL | FCG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.90% | 8.83% | +10.07% |
Volatility (6M)Calculated over the trailing 6-month period | 91.55% | 21.32% | +70.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 110.59% | 27.51% | +83.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 118.92% | 33.08% | +85.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 101.64% | 38.24% | +63.40% |
BOIL vs. FCG - Expense Ratio Comparison
BOIL has a 1.31% expense ratio, which is higher than FCG's 0.59% expense ratio.
Dividends
BOIL vs. FCG - Dividend Comparison
BOIL has not paid dividends to shareholders, while FCG's dividend yield for the trailing twelve months is around 2.17%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BOIL ProShares Ultra Bloomberg Natural Gas | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FCG First Trust Natural Gas ETF | 2.17% | 2.86% | 2.76% | 3.25% | 3.04% | 1.73% | 3.82% | 2.87% | 1.46% | 1.56% | 1.70% | 4.79% |
Frequently Asked Questions
BOIL and FCG have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BOIL has higher volatility (18.90%) compared to FCG (8.83%). In terms of maximum drawdown, BOIL dropped -100.00% vs FCG's -97.20%.
On 10-year performance, FCG leads with 4.86% vs -58.99% for BOIL. On fees, FCG is cheaper at 0.59% per year. On volatility, FCG has been the lower-risk option at 8.83%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FCG has performed better with a 4.86% return vs -58.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FCG is cheaper with a 0.59% expense ratio, compared with 1.31% for BOIL.
FCG has the higher dividend yield at 2.17%, compared with 0.00% for BOIL.
BOIL is categorized as Oil & Gas, while FCG is Energy Equities. BOIL tracks Bloomberg Natural Gas Subindex, while FCG tracks Nasdaq FactSet Natural Gas Index. They also come from different issuers: ProShares and First Trust. Their fees differ too: 1.31% for BOIL and 0.59% for FCG.
FCG currently has the higher Sharpe Ratio (0.98 vs -0.65), 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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