BOIL vs. KOCT
BOIL (ProShares Ultra Bloomberg Natural Gas) and KOCT (Innovator U.S. Small Cap Power Buffer ETF - October) are both exchange-traded funds - BOIL is a Leveraged Commodities fund tracking the Bloomberg Natural Gas Subindex, while KOCT is a Defined Outcome fund tracking the Russell 2000 Price Return Index. Both are passively managed. Over the past 5 years, BOIL returned -64.63%/yr vs 6.48%/yr for KOCT. At a 0.03 correlation, their price movements are largely independent. BOIL charges 1.31%/yr vs 0.79%/yr for KOCT.
Performance
BOIL vs. KOCT - Performance Comparison
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Returns By Period
In the year-to-date period, BOIL achieves a -36.77% return, which is significantly lower than KOCT's 8.72% 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%
KOCT
- 1D
- -0.31%
- 1M
- 1.83%
- YTD
- 8.72%
- 6M
- 8.65%
- 1Y
- 22.22%
- 3Y*
- 11.49%
- 5Y*
- 6.48%
- 10Y*
- —
BOIL vs. KOCT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
BOIL ProShares Ultra Bloomberg Natural Gas | -36.77% | -58.98% | -60.75% | -92.00% | -31.85% | 23.84% | -74.74% | -33.28% |
KOCT Innovator U.S. Small Cap Power Buffer ETF - October | 8.72% | 10.14% | 11.08% | 9.02% | -7.87% | 5.67% | 2.57% | 5.28% |
Correlation
The correlation between BOIL and KOCT is -0.28, 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 | -0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Oct 2, 2019 | 0.03 |
The correlation between BOIL and KOCT shifts across timeframes, from -0.28 (1 year) to 0.03 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
BOIL vs. KOCT — Risk / Return Rank
BOIL
KOCT
BOIL vs. KOCT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Bloomberg Natural Gas (BOIL) and Innovator U.S. Small Cap Power Buffer ETF - October (KOCT). 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 | KOCT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.79 | ||
| Sortino ratioReturn per unit of downside risk | -4.01 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 1.38 | -0.48 |
| Calmar ratioReturn relative to maximum drawdown | -0.92 | 4.50 | -5.43 |
| Martin ratioReturn relative to average drawdown | -1.26 | 16.08 | -17.33 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BOIL | KOCT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.66 | 2.13 | -2.79 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.55 | 0.53 | -1.08 |
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 | 0.45 | -1.06 |
Drawdowns
BOIL vs. KOCT - Drawdown Comparison
The maximum BOIL drawdown since its inception was -100.00%, which is greater than KOCT's maximum drawdown of -28.22%. Use the drawdown chart below to compare losses from any high point for BOIL and KOCT.
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Drawdown Indicators
| BOIL | KOCT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -28.22% | -71.78% |
Max Drawdown (1Y)Largest decline over 1 year | -80.85% | -4.95% | -75.90% |
Max Drawdown (3Y)Largest decline over 3 years | -96.86% | -15.03% | -81.83% |
Max Drawdown (5Y)Largest decline over 5 years | -99.91% | -16.63% | -83.28% |
Max Drawdown (10Y)Largest decline over 10 years | -99.99% | — | — |
Current DrawdownCurrent decline from peak | -100.00% | -0.37% | -99.63% |
Average DrawdownAverage peak-to-trough decline | -93.59% | -4.24% | -89.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 59.20% | 1.39% | +57.81% |
Volatility
BOIL vs. KOCT - Volatility Comparison
ProShares Ultra Bloomberg Natural Gas (BOIL) has a higher volatility of 23.95% compared to Innovator U.S. Small Cap Power Buffer ETF - October (KOCT) at 2.15%. This indicates that BOIL's price experiences larger fluctuations and is considered to be riskier than KOCT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BOIL | KOCT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 23.95% | 2.15% | +21.80% |
Volatility (6M)Calculated over the trailing 6-month period | 107.61% | 6.68% | +100.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 113.64% | 10.51% | +103.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 118.89% | 12.25% | +106.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 101.81% | 14.60% | +87.21% |
BOIL vs. KOCT - Expense Ratio Comparison
BOIL has a 1.31% expense ratio, which is higher than KOCT's 0.79% expense ratio.
Dividends
BOIL vs. KOCT - Dividend Comparison
Neither BOIL nor KOCT has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
BOIL ProShares Ultra Bloomberg Natural Gas | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
KOCT Innovator U.S. Small Cap Power Buffer ETF - October | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.79% |
Frequently Asked Questions
BOIL and KOCT have a correlation of -0.28, 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 KOCT (2.15%). In terms of maximum drawdown, BOIL dropped -100.00% vs KOCT's -28.22%.
On 5-year performance, KOCT leads with 6.48% vs -64.63% for BOIL. On fees, KOCT is cheaper at 0.79% per year. On volatility, KOCT has been the lower-risk option at 2.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, KOCT has performed better with a 6.48% return vs -64.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KOCT is cheaper with a 0.79% expense ratio, compared with 1.31% for BOIL.
BOIL and KOCT have nearly identical dividend yields, around 0.00%.
BOIL is categorized as Leveraged Commodities, while KOCT is Defined Outcome. BOIL tracks Bloomberg Natural Gas Subindex, while KOCT tracks Russell 2000 Price Return Index. They also come from different issuers: ProShares and Innovator. Their fees differ too: 1.31% for BOIL and 0.79% for KOCT.
KOCT currently has the higher Sharpe Ratio (2.13 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.
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