BOIL vs. OILK
BOIL (ProShares Ultra Bloomberg Natural Gas) and OILK (ProShares K-1 Free Crude Oil Strategy ETF) are both Oil & Gas funds from ProShares - BOIL tracks the Bloomberg Natural Gas Subindex while OILK tracks the Bloomberg Commodity Balanced WTI Crude Oil Index. Both are passively managed. Over the past 5 years, BOIL returned -68.58%/yr vs 14.65%/yr for OILK. At a 0.12 correlation, their price movements are largely independent. BOIL charges 1.31%/yr vs 0.68%/yr for OILK.
Performance
BOIL vs. OILK - Performance Comparison
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Returns By Period
In the year-to-date period, BOIL achieves a -51.97% return, which is significantly lower than OILK's 49.33% return.
BOIL
- 1D
- -2.65%
- 1M
- -22.34%
- 6M
- -31.80%
- YTD
- -51.97%
- 1Y
- -77.53%
- 3Y*
- -66.23%
- 5Y*
- -68.58%
- 10Y*
- -58.64%
OILK
- 1D
- -1.07%
- 1M
- 2.86%
- 6M
- 45.66%
- YTD
- 49.33%
- 1Y
- 37.72%
- 3Y*
- 13.85%
- 5Y*
- 14.65%
- 10Y*
- —
BOIL vs. OILK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BOIL ProShares Ultra Bloomberg Natural Gas | -51.97% | -58.98% | -60.75% | -92.00% | -31.85% | 23.84% | -74.74% | -67.70% | -20.55% | -65.72% |
OILK ProShares K-1 Free Crude Oil Strategy ETF | 49.33% | -11.86% | 8.18% | -0.97% | 27.57% | 63.71% | -61.09% | 30.48% | -20.40% | 2.82% |
Correlation
The correlation between BOIL and OILK is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Sep 28, 2016 | 0.12 |
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Return for Risk
BOIL vs. OILK — Risk / Return Rank
BOIL
OILK
BOIL vs. OILK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Bloomberg Natural Gas (BOIL) and ProShares K-1 Free Crude Oil Strategy ETF (OILK). 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 | OILK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.99 | ||
| Sortino ratioReturn per unit of downside risk | -2.80 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 1.22 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | -1.00 | 1.79 | -2.79 |
| Martin ratioReturn relative to average drawdown | -1.40 | 4.20 | -5.59 |
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Drawdowns
BOIL vs. OILK - Drawdown Comparison
The maximum BOIL drawdown since its inception was -100.00%, which is greater than OILK's maximum drawdown of -83.76%. Use the drawdown chart below to compare losses from any high point for BOIL and OILK.
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Drawdown Indicators
| BOIL | OILK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -83.76% | -16.24% |
Max Drawdown (1Y)Largest decline over 1 year | -77.83% | -21.19% | -56.64% |
Max Drawdown (3Y)Largest decline over 3 years | -97.17% | -23.42% | -73.75% |
Max Drawdown (5Y)Largest decline over 5 years | -99.92% | -34.69% | -65.23% |
Max Drawdown (10Y)Largest decline over 10 years | -99.99% | — | — |
Current DrawdownCurrent decline from peak | -100.00% | -12.39% | -87.61% |
Average DrawdownAverage peak-to-trough decline | -93.61% | -32.38% | -61.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 55.55% | 9.01% | +46.54% |
Volatility
BOIL vs. OILK - Volatility Comparison
ProShares Ultra Bloomberg Natural Gas (BOIL) has a higher volatility of 19.67% compared to ProShares K-1 Free Crude Oil Strategy ETF (OILK) at 10.20%. This indicates that BOIL's price experiences larger fluctuations and is considered to be riskier than OILK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BOIL | OILK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.67% | 10.20% | +9.47% |
Volatility (6M)Calculated over the trailing 6-month period | 100.26% | 25.08% | +75.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 111.81% | 29.33% | +82.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 119.02% | 30.45% | +88.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 101.73% | 35.97% | +65.76% |
BOIL vs. OILK - Expense Ratio Comparison
BOIL has a 1.31% expense ratio, which is higher than OILK's 0.68% expense ratio.
Dividends
BOIL vs. OILK - Dividend Comparison
BOIL has not paid dividends to shareholders, while OILK's dividend yield for the trailing twelve months is around 8.75%.
| 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% |
OILK ProShares K-1 Free Crude Oil Strategy ETF | 8.75% | 4.79% | 3.11% | 5.80% | 17.32% | 68.82% | 0.13% | 0.94% | 0.58% | 6.17% |
Frequently Asked Questions
BOIL and OILK have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BOIL has higher volatility (19.67%) compared to OILK (10.20%). In terms of maximum drawdown, BOIL dropped -100.00% vs OILK's -83.76%.
On 5-year performance, OILK leads with 14.65% vs -68.58% for BOIL. On fees, OILK is cheaper at 0.68% per year. On volatility, OILK has been the lower-risk option at 10.20%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, OILK has performed better with a 14.65% return vs -68.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
OILK is cheaper with a 0.68% expense ratio, compared with 1.31% for BOIL.
OILK has the higher dividend yield at 8.75%, compared with 0.00% for BOIL.
BOIL tracks Bloomberg Natural Gas Subindex, while OILK tracks Bloomberg Commodity Balanced WTI Crude Oil Index. Their fees differ too: 1.31% for BOIL and 0.68% for OILK.
OILK currently has the higher Sharpe Ratio (1.29 vs -0.69), 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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