BOIL vs. KOLD
Compare and contrast key facts about ProShares Ultra Bloomberg Natural Gas (BOIL) and ProShares UltraShort Bloomberg Natural Gas (KOLD).
BOIL and KOLD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BOIL is a passively managed fund by ProShares that tracks the performance of the Dow Jones-UBS Natural Gas Subindex (200%). It was launched on Oct 4, 2011. KOLD is a passively managed fund by ProShares that tracks the performance of the Bloomberg Natural Gas Subindex (TR) (200%). It was launched on Oct 4, 2011. Both BOIL and KOLD are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
BOIL vs. KOLD - Performance Comparison
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BOIL vs. KOLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BOIL ProShares Ultra Bloomberg Natural Gas | -29.61% | -58.98% | -60.75% | -92.00% | -31.85% | 23.84% | -74.74% | -67.70% | -20.55% | -65.72% |
KOLD ProShares UltraShort Bloomberg Natural Gas | -38.45% | -17.48% | -11.34% | 249.82% | -88.62% | -74.44% | 22.05% | 82.94% | -46.48% | 72.02% |
Returns By Period
In the year-to-date period, BOIL achieves a -29.61% return, which is significantly higher than KOLD's -38.45% return. Over the past 10 years, BOIL has underperformed KOLD with an annualized return of -55.56%, while KOLD has yielded a comparatively higher -29.03% annualized return.
BOIL
- 1D
- 0.75%
- 1M
- -1.95%
- YTD
- -29.61%
- 6M
- -46.25%
- 1Y
- -81.20%
- 3Y*
- -64.52%
- 5Y*
- -62.47%
- 10Y*
- -55.56%
KOLD
- 1D
- -0.73%
- 1M
- -7.42%
- YTD
- -38.45%
- 6M
- -37.60%
- 1Y
- 10.94%
- 3Y*
- -15.68%
- 5Y*
- -43.73%
- 10Y*
- -29.03%
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BOIL vs. KOLD - Expense Ratio Comparison
BOIL has a 1.31% expense ratio, which is higher than KOLD's 0.95% expense ratio.
Return for Risk
BOIL vs. KOLD — Risk / Return Rank
BOIL
KOLD
BOIL vs. KOLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Bloomberg Natural Gas (BOIL) and ProShares UltraShort Bloomberg Natural Gas (KOLD). 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 | KOLD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.68 | 0.09 | -0.77 |
Sortino ratioReturn per unit of downside risk | -1.00 | 1.02 | -2.02 |
Omega ratioGain probability vs. loss probability | 0.88 | 1.13 | -0.25 |
Calmar ratioReturn relative to maximum drawdown | -0.99 | 0.11 | -1.10 |
Martin ratioReturn relative to average drawdown | -1.33 | 0.27 | -1.59 |
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 | KOLD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.68 | 0.09 | -0.77 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.53 | -0.37 | -0.16 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.55 | -0.29 | -0.26 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.61 | -0.15 | -0.47 |
Correlation
The correlation between BOIL and KOLD is -1.00. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
BOIL vs. KOLD - Dividend Comparison
Neither BOIL nor KOLD has paid dividends to shareholders.
Drawdowns
BOIL vs. KOLD - Drawdown Comparison
The maximum BOIL drawdown since its inception was -100.00%, roughly equal to the maximum KOLD drawdown of -99.45%. Use the drawdown chart below to compare losses from any high point for BOIL and KOLD.
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Drawdown Indicators
| BOIL | KOLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -99.45% | -0.55% |
Max Drawdown (1Y)Largest decline over 1 year | -81.53% | -72.50% | -9.03% |
Max Drawdown (5Y)Largest decline over 5 years | -99.88% | -98.91% | -0.97% |
Max Drawdown (10Y)Largest decline over 10 years | -99.98% | -99.45% | -0.53% |
Current DrawdownCurrent decline from peak | -100.00% | -97.48% | -2.52% |
Average DrawdownAverage peak-to-trough decline | -93.51% | -69.15% | -24.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 60.91% | 31.16% | +29.75% |
Volatility
BOIL vs. KOLD - Volatility Comparison
ProShares Ultra Bloomberg Natural Gas (BOIL) and ProShares UltraShort Bloomberg Natural Gas (KOLD) have volatilities of 29.44% and 29.18%, 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 | KOLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 29.44% | 29.18% | +0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 109.34% | 101.24% | +8.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 120.51% | 120.63% | -0.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 118.61% | 118.49% | +0.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 101.94% | 101.91% | +0.03% |