BOIL vs. QLD
BOIL (ProShares Ultra Bloomberg Natural Gas) and QLD (ProShares Ultra QQQ) are both exchange-traded funds - BOIL is a Oil & Gas fund tracking the Bloomberg Natural Gas Subindex, while QLD is a Leveraged Equities fund tracking the NASDAQ-100 Index (200%). Both are passively managed. Over the past 10 years, BOIL returned -57.84%/yr vs 36.27%/yr for QLD. At a 0.02 correlation, their price movements are largely independent. BOIL charges 1.31%/yr vs 0.95%/yr for QLD.
Performance
BOIL vs. QLD - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, BOIL achieves a -41.05% return, which is significantly lower than QLD's 29.58% return. Over the past 10 years, BOIL has underperformed QLD with an annualized return of -57.84%, while QLD has yielded a comparatively higher 36.27% annualized 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%
QLD
- 1D
- -6.61%
- 1M
- -2.02%
- YTD
- 29.58%
- 6M
- 26.13%
- 1Y
- 66.80%
- 3Y*
- 43.61%
- 5Y*
- 21.41%
- 10Y*
- 36.27%
BOIL vs. QLD - 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% |
QLD ProShares Ultra QQQ | 29.58% | 30.36% | 42.82% | 117.72% | -60.52% | 54.67% | 88.90% | 81.69% | -8.31% | 70.34% |
Correlation
The correlation between BOIL and QLD is -0.19, 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 | -0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Oct 6, 2011 | 0.02 |
The correlation between BOIL and QLD shifts across timeframes, from -0.19 (1 year) to 0.04 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
BOIL vs. QLD — Risk / Return Rank
BOIL
QLD
BOIL vs. QLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Bloomberg Natural Gas (BOIL) and ProShares Ultra QQQ (QLD). 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 | QLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.55 | ||
| Sortino ratioReturn per unit of downside risk | -3.18 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 1.31 | -0.42 |
| Calmar ratioReturn relative to maximum drawdown | -0.98 | 2.67 | -3.65 |
| Martin ratioReturn relative to average drawdown | -1.36 | 9.05 | -10.40 |
Loading charts...
Drawdowns
BOIL vs. QLD - Drawdown Comparison
The maximum BOIL drawdown since its inception was -100.00%, which is greater than QLD's maximum drawdown of -83.13%. Use the drawdown chart below to compare losses from any high point for BOIL and QLD.
Loading charts...
Drawdown Indicators
| BOIL | QLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -83.13% | -16.87% |
Max Drawdown (1Y)Largest decline over 1 year | -77.43% | -25.13% | -52.30% |
Max Drawdown (3Y)Largest decline over 3 years | -96.86% | -42.29% | -54.57% |
Max Drawdown (5Y)Largest decline over 5 years | -99.91% | -63.68% | -36.23% |
Max Drawdown (10Y)Largest decline over 10 years | -99.99% | -63.68% | -36.31% |
Current DrawdownCurrent decline from peak | -100.00% | -9.26% | -90.74% |
Average DrawdownAverage peak-to-trough decline | -93.59% | -18.14% | -75.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 56.83% | 7.40% | +49.43% |
Volatility
BOIL vs. QLD - Volatility Comparison
ProShares Ultra Bloomberg Natural Gas (BOIL) has a higher volatility of 23.63% compared to ProShares Ultra QQQ (QLD) at 18.22%. This indicates that BOIL's price experiences larger fluctuations and is considered to be riskier than QLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| BOIL | QLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 23.63% | 18.22% | +5.41% |
Volatility (6M)Calculated over the trailing 6-month period | 104.46% | 28.95% | +75.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 113.44% | 35.77% | +77.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 118.97% | 45.34% | +73.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 101.84% | 44.80% | +57.04% |
BOIL vs. QLD - Expense Ratio Comparison
BOIL has a 1.31% expense ratio, which is higher than QLD's 0.95% expense ratio.
Dividends
BOIL vs. QLD - Dividend Comparison
BOIL has not paid dividends to shareholders, while QLD's dividend yield for the trailing twelve months is around 0.13%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% |
QLD ProShares Ultra QQQ | 0.13% | 0.17% | 0.25% | 0.33% | 0.31% | 0.00% | 0.00% | 0.13% | 0.06% | 0.02% | 0.21% | 0.11% |
Frequently Asked Questions
BOIL and QLD have a correlation of -0.19, 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 QLD (18.22%). In terms of maximum drawdown, BOIL dropped -100.00% vs QLD's -83.13%.
On 10-year performance, QLD leads with 36.27% vs -57.84% for BOIL. On fees, QLD is cheaper at 0.95% per year. On volatility, QLD has been the lower-risk option at 18.22%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, QLD has performed better with a 36.27% return vs -57.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QLD is cheaper with a 0.95% expense ratio, compared with 1.31% for BOIL.
QLD has the higher dividend yield at 0.13%, compared with 0.00% for BOIL.
BOIL is categorized as Oil & Gas, while QLD is Leveraged Equities. BOIL tracks Bloomberg Natural Gas Subindex, while QLD tracks NASDAQ-100 Index (200%). Their fees differ too: 1.31% for BOIL and 0.95% for QLD.
QLD currently has the higher Sharpe Ratio (1.88 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.
Find the right allocation for BOIL and QLD
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer