BOIL vs. FNGD
BOIL (ProShares Ultra Bloomberg Natural Gas) and FNGD (MicroSectors FANG+™ Index -3X Inverse Leveraged ETN) are both exchange-traded funds - BOIL is a Oil & Gas fund tracking the Bloomberg Natural Gas Subindex, while FNGD is a Leveraged Equities fund tracking the NYSE FANG+ Index (-300%). Both are passively managed. Over the past 5 years, BOIL returned -68.59%/yr vs -62.88%/yr for FNGD. At a correlation of -0.03, they often move in opposite directions. BOIL charges 1.31%/yr vs 0.95%/yr for FNGD.
Performance
BOIL vs. FNGD - Performance Comparison
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Returns By Period
In the year-to-date period, BOIL achieves a -52.27% return, which is significantly lower than FNGD's -35.56% return.
BOIL
- 1D
- -3.62%
- 1M
- -18.31%
- 6M
- -39.28%
- YTD
- -52.27%
- 1Y
- -74.93%
- 3Y*
- -66.40%
- 5Y*
- -68.59%
- 10Y*
- -58.74%
FNGD
- 1D
- 2.44%
- 1M
- -11.47%
- 6M
- -35.07%
- YTD
- -35.56%
- 1Y
- -49.24%
- 3Y*
- -65.19%
- 5Y*
- -62.88%
- 10Y*
- —
BOIL vs. FNGD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
BOIL ProShares Ultra Bloomberg Natural Gas | -52.27% | -58.98% | -60.75% | -92.00% | -31.85% | 23.84% | -74.74% | -67.70% | -22.23% |
FNGD MicroSectors FANG+™ Index -3X Inverse Leveraged ETN | -35.56% | -61.42% | -76.57% | -90.14% | 52.21% | -60.04% | -95.60% | -72.46% | -16.61% |
Correlation
The correlation between BOIL and FNGD is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since Jan 23, 2018 | -0.03 |
The correlation between BOIL and FNGD shifts across timeframes, from -0.03 (all time) to 0.14 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
BOIL vs. FNGD — Risk / Return Rank
BOIL
FNGD
BOIL vs. FNGD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Bloomberg Natural Gas (BOIL) and MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD). 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 | FNGD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.09 | ||
| Sortino ratioReturn per unit of downside risk | +0.16 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 0.89 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | -0.96 | -0.75 | -0.22 |
| Martin ratioReturn relative to average drawdown | -1.36 | -1.52 | +0.15 |
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Drawdowns
BOIL vs. FNGD - Drawdown Comparison
The maximum BOIL drawdown since its inception was -100.00%, roughly equal to the maximum FNGD drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for BOIL and FNGD.
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Drawdown Indicators
| BOIL | FNGD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -100.00% | 0.00% |
Max Drawdown (1Y)Largest decline over 1 year | -77.83% | -65.92% | -11.91% |
Max Drawdown (3Y)Largest decline over 3 years | -97.17% | -97.35% | +0.18% |
Max Drawdown (5Y)Largest decline over 5 years | -99.92% | -99.67% | -0.25% |
Max Drawdown (10Y)Largest decline over 10 years | -99.99% | — | — |
Current DrawdownCurrent decline from peak | -100.00% | -100.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -93.61% | -87.38% | -6.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 54.90% | 32.60% | +22.30% |
Volatility
BOIL vs. FNGD - Volatility Comparison
The current volatility for ProShares Ultra Bloomberg Natural Gas (BOIL) is 20.38%, while MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) has a volatility of 25.56%. This indicates that BOIL experiences smaller price fluctuations and is considered to be less risky than FNGD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BOIL | FNGD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 20.38% | 25.56% | -5.18% |
Volatility (6M)Calculated over the trailing 6-month period | 102.24% | 53.43% | +48.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 112.18% | 65.22% | +46.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 119.02% | 89.65% | +29.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 101.76% | 91.07% | +10.69% |
BOIL vs. FNGD - Expense Ratio Comparison
BOIL has a 1.31% expense ratio, which is higher than FNGD's 0.95% expense ratio.
Dividends
BOIL vs. FNGD - Dividend Comparison
Neither BOIL nor FNGD has paid dividends to shareholders.
Frequently Asked Questions
BOIL and FNGD have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FNGD has higher volatility (25.56%) compared to BOIL (20.38%). In terms of maximum drawdown, BOIL dropped -100.00% vs FNGD's -100.00%.
On 5-year performance, FNGD leads with -62.88% vs -68.59% for BOIL. On fees, FNGD is cheaper at 0.95% per year. On volatility, BOIL has been the lower-risk option at 20.38%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FNGD has performed better with a -62.88% return vs -68.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FNGD is cheaper with a 0.95% expense ratio, compared with 1.31% for BOIL.
BOIL and FNGD have nearly identical dividend yields, around 0.00%.
BOIL is categorized as Oil & Gas, while FNGD is Leveraged Equities. BOIL tracks Bloomberg Natural Gas Subindex, while FNGD tracks NYSE FANG+ Index (-300%). They also come from different issuers: ProShares and BMO. Their fees differ too: 1.31% for BOIL and 0.95% for FNGD.
BOIL currently has the higher Sharpe Ratio (-0.67 vs -0.76), 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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