BOIL vs. TQQQ
BOIL (ProShares Ultra Bloomberg Natural Gas) and TQQQ (ProShares UltraPro QQQ) are both exchange-traded funds - BOIL is a Oil & Gas fund tracking the Bloomberg Natural Gas Subindex, while TQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (300%). Both are passively managed. Over the past 10 years, BOIL returned -57.67%/yr vs 45.25%/yr for TQQQ. At a 0.02 correlation, their price movements are largely independent. BOIL charges 1.31%/yr vs 0.95%/yr for TQQQ.
Performance
BOIL vs. TQQQ - Performance Comparison
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Returns By Period
In the year-to-date period, BOIL achieves a -38.60% return, which is significantly lower than TQQQ's 39.27% return. Over the past 10 years, BOIL has underperformed TQQQ with an annualized return of -57.67%, while TQQQ has yielded a comparatively higher 45.25% annualized return.
BOIL
- 1D
- 4.15%
- 1M
- 10.36%
- YTD
- -38.60%
- 6M
- -41.10%
- 1Y
- -72.68%
- 3Y*
- -66.02%
- 5Y*
- -66.45%
- 10Y*
- -57.67%
TQQQ
- 1D
- -1.53%
- 1M
- -5.83%
- YTD
- 39.27%
- 6M
- 32.62%
- 1Y
- 89.02%
- 3Y*
- 57.21%
- 5Y*
- 21.17%
- 10Y*
- 45.25%
BOIL vs. TQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BOIL ProShares Ultra Bloomberg Natural Gas | -38.60% | -58.98% | -60.75% | -92.00% | -31.85% | 23.84% | -74.74% | -67.70% | -20.55% | -65.72% |
TQQQ ProShares UltraPro QQQ | 39.27% | 34.35% | 58.27% | 198.04% | -79.09% | 82.98% | 110.05% | 133.84% | -19.79% | 118.06% |
Correlation
The correlation between BOIL and TQQQ is -0.18, 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 | -0.18 |
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 TQQQ shifts across timeframes, from -0.18 (1 year) to 0.04 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
BOIL vs. TQQQ — Risk / Return Rank
BOIL
TQQQ
BOIL vs. TQQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Bloomberg Natural Gas (BOIL) and ProShares UltraPro QQQ (TQQQ). 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 | TQQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.33 | ||
| Sortino ratioReturn per unit of downside risk | -2.83 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.28 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | -0.94 | 2.42 | -3.36 |
| Martin ratioReturn relative to average drawdown | -1.30 | 7.68 | -8.98 |
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Drawdowns
BOIL vs. TQQQ - Drawdown Comparison
The maximum BOIL drawdown since its inception was -100.00%, which is greater than TQQQ's maximum drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for BOIL and TQQQ.
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Drawdown Indicators
| BOIL | TQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -81.66% | -18.34% |
Max Drawdown (1Y)Largest decline over 1 year | -77.43% | -36.97% | -40.46% |
Max Drawdown (3Y)Largest decline over 3 years | -96.86% | -58.04% | -38.82% |
Max Drawdown (5Y)Largest decline over 5 years | -99.91% | -81.66% | -18.25% |
Max Drawdown (10Y)Largest decline over 10 years | -99.99% | -81.66% | -18.33% |
Current DrawdownCurrent decline from peak | -100.00% | -15.96% | -84.04% |
Average DrawdownAverage peak-to-trough decline | -93.59% | -18.49% | -75.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 55.95% | 11.64% | +44.31% |
Volatility
BOIL vs. TQQQ - Volatility Comparison
The current volatility for ProShares Ultra Bloomberg Natural Gas (BOIL) is 22.78%, while ProShares UltraPro QQQ (TQQQ) has a volatility of 27.27%. This indicates that BOIL experiences smaller price fluctuations and is considered to be less risky than TQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BOIL | TQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.78% | 27.27% | -4.49% |
Volatility (6M)Calculated over the trailing 6-month period | 104.55% | 43.24% | +61.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 113.22% | 53.35% | +59.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 118.95% | 67.41% | +51.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 101.83% | 66.31% | +35.52% |
BOIL vs. TQQQ - Expense Ratio Comparison
BOIL has a 1.31% expense ratio, which is higher than TQQQ's 0.95% expense ratio.
Dividends
BOIL vs. TQQQ - Dividend Comparison
BOIL has not paid dividends to shareholders, while TQQQ's dividend yield for the trailing twelve months is around 0.43%.
| 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% |
TQQQ ProShares UltraPro QQQ | 0.43% | 0.65% | 1.27% | 1.26% | 0.57% | 0.00% | 0.00% | 0.06% | 0.11% | 0.00% | 0.00% | 0.01% |
Frequently Asked Questions
BOIL and TQQQ have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TQQQ has higher volatility (27.27%) compared to BOIL (22.78%). In terms of maximum drawdown, BOIL dropped -100.00% vs TQQQ's -81.66%.
On 10-year performance, TQQQ leads with 45.25% vs -57.67% for BOIL. On fees, TQQQ is cheaper at 0.95% per year. On volatility, BOIL has been the lower-risk option at 22.78%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, TQQQ has performed better with a 45.25% return vs -57.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TQQQ is cheaper with a 0.95% expense ratio, compared with 1.31% for BOIL.
TQQQ has the higher dividend yield at 0.43%, compared with 0.00% for BOIL.
BOIL is categorized as Oil & Gas, while TQQQ is Leveraged Equities. BOIL tracks Bloomberg Natural Gas Subindex, while TQQQ tracks NASDAQ-100 Index (300%). Their fees differ too: 1.31% for BOIL and 0.95% for TQQQ.
TQQQ currently has the higher Sharpe Ratio (1.68 vs -0.64), 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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