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 Oil & Gas 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 -68.59%/yr vs 6.84%/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 -52.27% return, which is significantly lower than KOCT's 10.78% 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%
KOCT
- 1D
- -0.24%
- 1M
- 1.15%
- 6M
- 7.80%
- YTD
- 10.78%
- 1Y
- 20.40%
- 3Y*
- 10.60%
- 5Y*
- 6.84%
- 10Y*
- —
BOIL vs. KOCT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
BOIL ProShares Ultra Bloomberg Natural Gas | -52.27% | -58.98% | -60.75% | -92.00% | -31.85% | 23.84% | -74.74% | -35.20% |
KOCT Innovator U.S. Small Cap Power Buffer ETF - October | 10.78% | 10.14% | 11.08% | 9.02% | -7.87% | 5.67% | 2.57% | 3.85% |
Correlation
The correlation between BOIL and KOCT is -0.27, 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 | -0.27 |
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 1, 2019 | 0.03 |
The correlation between BOIL and KOCT shifts across timeframes, from -0.27 (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.
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 | KOCT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.66 | ||
| Sortino ratioReturn per unit of downside risk | -3.87 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 1.36 | -0.47 |
| Calmar ratioReturn relative to maximum drawdown | -0.96 | 4.14 | -5.10 |
| Martin ratioReturn relative to average drawdown | -1.36 | 14.92 | -16.29 |
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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 | -77.83% | -4.95% | -72.88% |
Max Drawdown (3Y)Largest decline over 3 years | -97.17% | -15.03% | -82.14% |
Max Drawdown (5Y)Largest decline over 5 years | -99.92% | -16.63% | -83.29% |
Max Drawdown (10Y)Largest decline over 10 years | -99.99% | — | — |
Current DrawdownCurrent decline from peak | -100.00% | -0.30% | -99.70% |
Average DrawdownAverage peak-to-trough decline | -93.61% | -4.18% | -89.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 54.90% | 1.37% | +53.53% |
Volatility
BOIL vs. KOCT - Volatility Comparison
ProShares Ultra Bloomberg Natural Gas (BOIL) has a higher volatility of 20.38% compared to Innovator U.S. Small Cap Power Buffer ETF - October (KOCT) at 1.57%. 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 | 20.38% | 1.57% | +18.81% |
Volatility (6M)Calculated over the trailing 6-month period | 102.24% | 6.59% | +95.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 112.18% | 10.34% | +101.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 119.02% | 12.29% | +106.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 101.76% | 14.52% | +87.24% |
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 -0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BOIL has higher volatility (20.38%) compared to KOCT (1.57%). In terms of maximum drawdown, BOIL dropped -100.00% vs KOCT's -28.22%.
On 5-year performance, KOCT leads with 6.84% vs -68.59% for BOIL. On fees, KOCT is cheaper at 0.79% per year. On volatility, KOCT has been the lower-risk option at 1.57%. 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 6.84% return vs -68.59%. 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 Oil & Gas, 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 (1.98 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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