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 (Gross Total Return, -300% Daily). Both are passively managed. Over the past 5 years, BOIL returned -69.84%/yr vs -63.24%/yr for FNGD. Their -0.03 correlation means they have often moved in opposite directions in the past. 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 -55.20% return, which is significantly lower than FNGD's -34.80% 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%
FNGD
- 1D
- -5.03%
- 1M
- -4.69%
- 6M
- -39.93%
- YTD
- -34.80%
- 1Y
- -48.33%
- 3Y*
- -64.85%
- 5Y*
- -63.24%
- 10Y*
- —
- ALL TIME*
- -69.95%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $86.80M | $100.03M | $104.47M | |
| $13.50M | $14.88M | $20.27M |
BOIL vs. FNGD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
BOIL ProShares Ultra Bloomberg Natural Gas | -55.20% | -58.98% | -60.75% | -92.00% | -31.85% | 23.84% | -74.74% | -67.70% | -22.23% |
FNGD MicroSectors FANG+™ Index -3X Inverse Leveraged ETN | -34.80% | -61.42% | -76.57% | -90.14% | 52.21% | -60.04% | -95.60% | -72.46% | -16.61% |
Correlation
The correlation between BOIL and FNGD is 0.13, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.13 |
Correlation (3Y) Balances recent behavior with more history. | 0.05 |
Correlation (5Y) Shows whether the relationship held over a longer 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 0.13 (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 | +0.02 | ||
| Sortino ratioReturn per unit of downside risk | +0.05 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 0.91 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.92 | -0.68 | -0.24 |
| Martin ratioReturn relative to average drawdown | -1.40 | -1.26 | -0.14 |
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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 | -77.68% | -65.92% | -11.76% |
Max Drawdown (3Y)Largest decline over 3 years | -97.48% | -97.35% | -0.13% |
Max Drawdown (5Y)Largest decline over 5 years | -99.93% | -99.67% | -0.26% |
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 | -93.63% | -87.46% | -6.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 50.79% | 35.26% | +15.53% |
Volatility
BOIL vs. FNGD - Volatility Comparison
ProShares Ultra Bloomberg Natural Gas (BOIL) and MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) have volatilities of 18.90% and 18.15%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. 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 | 18.90% | 18.15% | +0.75% |
Volatility (6M)Calculated over the trailing 6-month period | 91.55% | 54.65% | +36.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 110.59% | 66.81% | +43.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 118.92% | 89.78% | +29.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 101.64% | 90.95% | +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 0.13, 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 FNGD (18.15%). In terms of maximum drawdown, BOIL dropped -100.00% vs FNGD's -100.00%.
On 5-year performance, FNGD leads with -63.24% vs -69.84% for BOIL. On fees, FNGD is cheaper at 0.95% per year. On volatility, FNGD has been the lower-risk option at 18.15%. 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 -63.24% return vs -69.84%. 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 (Gross Total Return, -300% Daily). 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 (-0.65 vs -0.67), 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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