BOIL vs. OILU
BOIL (ProShares Ultra Bloomberg Natural Gas) and OILU (MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN) are both exchange-traded funds - BOIL is a Oil & Gas fund tracking the Bloomberg Natural Gas Subindex, while OILU is a Leveraged Equities fund tracking the Solactive MicroSectors Oil & Gas Exploration & Production Index. Both are passively managed. Over the past 3 years, BOIL returned -67.40%/yr vs 1.15%/yr for OILU. Their 0.24 correlation means their historical movements had little consistent relationship. BOIL charges 1.31%/yr vs 0.95%/yr for OILU.
Performance
BOIL vs. OILU - Performance Comparison
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Returns By Period
In the year-to-date period, BOIL achieves a -55.20% return, which is significantly lower than OILU's 95.09% return.
BOIL
- 1D
- 1.23%
- 1M
- -22.39%
- 6M
- -74.77%
- YTD
- -55.20%
- 1Y
- -71.40%
- 3Y*
- -67.40%
- 5Y*
- -69.84%
- 10Y*
- -58.99%
- ALL TIME*
- -57.95%
OILU
- 1D
- 3.79%
- 1M
- 38.67%
- 6M
- 37.11%
- YTD
- 95.09%
- 1Y
- 107.91%
- 3Y*
- 1.15%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 13.25%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $86.80M | $100.03M | $104.47M | |
| $8.21M | $8.45M | $7.94M |
BOIL vs. OILU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BOIL ProShares Ultra Bloomberg Natural Gas | -55.20% | -58.98% | -60.75% | -92.00% | -31.85% | -58.50% |
OILU MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN | 95.09% | -16.50% | -21.65% | -32.50% | 151.08% | -16.79% |
Correlation
The correlation between BOIL and OILU is 0.26, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.26 |
Correlation (3Y) Balances recent behavior with more history. | 0.20 |
Correlation (All Time) Calculated using the full available price history since Nov 9, 2021 | 0.24 |
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Return for Risk
BOIL vs. OILU — Risk / Return Rank
BOIL
OILU
BOIL vs. OILU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Bloomberg Natural Gas (BOIL) and MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU). 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 | OILU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.14 | ||
| Sortino ratioReturn per unit of downside risk | -2.68 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.24 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | -0.92 | 2.07 | -2.99 |
| Martin ratioReturn relative to average drawdown | -1.40 | 5.11 | -6.51 |
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Drawdowns
BOIL vs. OILU - Drawdown Comparison
The maximum BOIL drawdown since its inception was -100.00%, which is greater than OILU's maximum drawdown of -81.00%. Use the drawdown chart below to compare losses from any high point for BOIL and OILU.
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Drawdown Indicators
| BOIL | OILU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -81.00% | -19.00% |
Max Drawdown (1Y)Largest decline over 1 year | -77.68% | -46.49% | -31.19% |
Max Drawdown (3Y)Largest decline over 3 years | -97.48% | -69.09% | -28.39% |
Max Drawdown (5Y)Largest decline over 5 years | -99.93% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -99.99% | — | — |
Current DrawdownCurrent decline from peak | -100.00% | -47.53% | -52.47% |
Average DrawdownAverage peak-to-trough decline | -93.63% | -50.69% | -42.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 50.79% | 18.88% | +31.91% |
Volatility
BOIL vs. OILU - Volatility Comparison
ProShares Ultra Bloomberg Natural Gas (BOIL) and MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU) have volatilities of 18.90% and 19.22%, 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 | OILU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.90% | 19.22% | -0.32% |
Volatility (6M)Calculated over the trailing 6-month period | 91.55% | 51.99% | +39.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 110.59% | 64.36% | +46.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 118.92% | 80.80% | +38.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 101.64% | 80.80% | +20.84% |
BOIL vs. OILU - Expense Ratio Comparison
BOIL has a 1.31% expense ratio, which is higher than OILU's 0.95% expense ratio.
Dividends
BOIL vs. OILU - Dividend Comparison
Neither BOIL nor OILU has paid dividends to shareholders.
Frequently Asked Questions
BOIL and OILU have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OILU has higher volatility (19.22%) compared to BOIL (18.90%). In terms of maximum drawdown, BOIL dropped -100.00% vs OILU's -81.00%.
On 3-year performance, OILU leads with 1.15% vs -67.40% for BOIL. On fees, OILU is cheaper at 0.95% per year. On volatility, BOIL has been the lower-risk option at 18.90%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, OILU has performed better with a 1.15% return vs -67.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
OILU is cheaper with a 0.95% expense ratio, compared with 1.31% for BOIL.
BOIL and OILU have nearly identical dividend yields, around 0.00%.
BOIL is categorized as Oil & Gas, while OILU is Leveraged Equities. BOIL tracks Bloomberg Natural Gas Subindex, while OILU tracks Solactive MicroSectors Oil & Gas Exploration & Production Index. They also come from different issuers: ProShares and BMO. Their fees differ too: 1.31% for BOIL and 0.95% for OILU.
OILU currently has the higher Sharpe Ratio (1.50 vs -0.65), 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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