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 -66.38%/yr vs 13.00%/yr for OILK. At a 0.13 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 -41.05% return, which is significantly lower than OILK's 40.78% return.
BOIL
- 1D
- -4.80%
- 1M
- 5.97%
- YTD
- -41.05%
- 6M
- -46.24%
- 1Y
- -75.60%
- 3Y*
- -66.48%
- 5Y*
- -66.38%
- 10Y*
- -57.84%
OILK
- 1D
- -0.59%
- 1M
- -13.38%
- YTD
- 40.78%
- 6M
- 38.63%
- 1Y
- 27.24%
- 3Y*
- 13.91%
- 5Y*
- 13.00%
- 10Y*
- —
BOIL vs. OILK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BOIL ProShares Ultra Bloomberg Natural Gas | -41.05% | -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 | 40.78% | -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 0.22, 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 | 0.13 |
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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 | -1.63 | ||
| Sortino ratioReturn per unit of downside risk | -2.27 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 1.18 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | -0.98 | 1.57 | -2.55 |
| Martin ratioReturn relative to average drawdown | -1.36 | 3.49 | -4.84 |
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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 | -77.43% | -17.41% | -60.02% |
Max Drawdown (3Y)Largest decline over 3 years | -96.86% | -23.42% | -73.44% |
Max Drawdown (5Y)Largest decline over 5 years | -99.91% | -34.69% | -65.22% |
Max Drawdown (10Y)Largest decline over 10 years | -99.99% | — | — |
Current DrawdownCurrent decline from peak | -100.00% | -17.41% | -82.59% |
Average DrawdownAverage peak-to-trough decline | -93.59% | -32.48% | -61.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 56.83% | 7.86% | +48.97% |
Volatility
BOIL vs. OILK - Volatility Comparison
ProShares Ultra Bloomberg Natural Gas (BOIL) has a higher volatility of 23.63% compared to ProShares K-1 Free Crude Oil Strategy ETF (OILK) at 8.02%. 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 | 23.63% | 8.02% | +15.61% |
Volatility (6M)Calculated over the trailing 6-month period | 104.46% | 24.07% | +80.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 113.44% | 29.00% | +84.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 118.97% | 30.27% | +88.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 101.84% | 35.96% | +65.88% |
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 9.54%.
| 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 | 9.54% | 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 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BOIL has higher volatility (23.63%) compared to OILK (8.02%). In terms of maximum drawdown, BOIL dropped -100.00% vs OILK's -83.76%.
On 5-year performance, OILK leads with 13.00% vs -66.38% for BOIL. On fees, OILK is cheaper at 0.68% per year. On volatility, OILK has been the lower-risk option at 8.02%. 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 13.00% return vs -66.38%. 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 9.54%, 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 (0.96 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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