BOIL vs. FPEI
BOIL (ProShares Ultra Bloomberg Natural Gas) and FPEI (First Trust Institutional Preferred Securities & Income ETF) are both exchange-traded funds - BOIL is a Leveraged Commodities fund tracking the Bloomberg Natural Gas Subindex, while FPEI is a Preferred Stock/Convertible Bonds fund actively managed by First Trust. BOIL is passively managed, while FPEI is actively managed. Over the past 5 years, BOIL returned -64.63%/yr vs 4.20%/yr for FPEI. At a 0.03 correlation, their price movements are largely independent. BOIL charges 1.31%/yr vs 0.85%/yr for FPEI.
Performance
BOIL vs. FPEI - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, BOIL achieves a -36.77% return, which is significantly lower than FPEI's 1.56% 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%
FPEI
- 1D
- -0.10%
- 1M
- 0.94%
- YTD
- 1.56%
- 6M
- 1.80%
- 1Y
- 8.60%
- 3Y*
- 10.69%
- 5Y*
- 4.20%
- 10Y*
- —
BOIL vs. FPEI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BOIL ProShares Ultra Bloomberg Natural Gas | -36.77% | -58.98% | -60.75% | -92.00% | -31.85% | 23.84% | -74.74% | -67.70% | -20.55% | -27.62% |
FPEI First Trust Institutional Preferred Securities & Income ETF | 1.56% | 9.82% | 10.94% | 6.29% | -8.19% | 4.63% | 7.08% | 15.86% | -4.29% | 2.23% |
Correlation
The correlation between BOIL and FPEI is -0.29, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Aug 24, 2017 | 0.03 |
The correlation between BOIL and FPEI shifts across timeframes, from -0.29 (1 year) to 0.03 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
BOIL vs. FPEI — Risk / Return Rank
BOIL
FPEI
BOIL vs. FPEI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Bloomberg Natural Gas (BOIL) and First Trust Institutional Preferred Securities & Income ETF (FPEI). 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 | FPEI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.00 | ||
| Sortino ratioReturn per unit of downside risk | -4.51 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 1.54 | -0.64 |
| Calmar ratioReturn relative to maximum drawdown | -0.92 | 2.38 | -3.30 |
| Martin ratioReturn relative to average drawdown | -1.26 | 11.84 | -13.09 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| BOIL | FPEI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.66 | 2.34 | -3.00 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.55 | 0.71 | -1.25 |
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 | 0.57 | -1.18 |
Drawdowns
BOIL vs. FPEI - Drawdown Comparison
The maximum BOIL drawdown since its inception was -100.00%, which is greater than FPEI's maximum drawdown of -27.51%. Use the drawdown chart below to compare losses from any high point for BOIL and FPEI.
Loading charts...
Drawdown Indicators
| BOIL | FPEI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -27.51% | -72.49% |
Max Drawdown (1Y)Largest decline over 1 year | -80.85% | -3.63% | -77.22% |
Max Drawdown (3Y)Largest decline over 3 years | -96.86% | -4.26% | -92.60% |
Max Drawdown (5Y)Largest decline over 5 years | -99.91% | -16.46% | -83.45% |
Max Drawdown (10Y)Largest decline over 10 years | -99.99% | — | — |
Current DrawdownCurrent decline from peak | -100.00% | -0.16% | -99.84% |
Average DrawdownAverage peak-to-trough decline | -93.59% | -3.06% | -90.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 59.20% | 0.73% | +58.47% |
Volatility
BOIL vs. FPEI - Volatility Comparison
ProShares Ultra Bloomberg Natural Gas (BOIL) has a higher volatility of 23.95% compared to First Trust Institutional Preferred Securities & Income ETF (FPEI) at 0.95%. This indicates that BOIL's price experiences larger fluctuations and is considered to be riskier than FPEI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| BOIL | FPEI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 23.95% | 0.95% | +23.00% |
Volatility (6M)Calculated over the trailing 6-month period | 107.61% | 3.06% | +104.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 113.64% | 3.69% | +109.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 118.89% | 5.97% | +112.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 101.81% | 8.86% | +92.95% |
BOIL vs. FPEI - Expense Ratio Comparison
BOIL has a 1.31% expense ratio, which is higher than FPEI's 0.85% expense ratio.
Dividends
BOIL vs. FPEI - Dividend Comparison
BOIL has not paid dividends to shareholders, while FPEI's dividend yield for the trailing twelve months is around 5.72%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
FPEI First Trust Institutional Preferred Securities & Income ETF | 5.72% | 5.62% | 5.55% | 5.76% | 5.20% | 4.46% | 4.90% | 5.02% | 5.81% | 1.50% |
Frequently Asked Questions
BOIL and FPEI have a correlation of -0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BOIL has higher volatility (23.95%) compared to FPEI (0.95%). In terms of maximum drawdown, BOIL dropped -100.00% vs FPEI's -27.51%.
On 5-year performance, FPEI leads with 4.20% vs -64.63% for BOIL. On fees, FPEI is cheaper at 0.85% per year. On volatility, FPEI has been the lower-risk option at 0.95%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FPEI has performed better with a 4.20% return vs -64.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FPEI is cheaper with a 0.85% expense ratio, compared with 1.31% for BOIL.
FPEI has the higher dividend yield at 5.72%, compared with 0.00% for BOIL.
BOIL is categorized as Leveraged Commodities, while FPEI is Preferred Stock/Convertible Bonds. They also come from different issuers: ProShares and First Trust. Their fees differ too: 1.31% for BOIL and 0.85% for FPEI.
FPEI currently has the higher Sharpe Ratio (2.34 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.
Find the right allocation for BOIL and FPEI
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer