BOIL vs. UVXY
BOIL (ProShares Ultra Bloomberg Natural Gas) and UVXY (ProShares Ultra VIX Short-Term Futures ETF) are both exchange-traded funds - BOIL is a Oil & Gas fund tracking the Bloomberg Natural Gas Subindex, while UVXY is a Volatility fund tracking the S&P 500 VIX SHORT-TERM FUTURES TR (150%). Both are passively managed. Over the past 10 years, BOIL returned -58.64%/yr vs -72.05%/yr for UVXY. At a correlation of -0.03, they often move in opposite directions. BOIL charges 1.31%/yr vs 0.95%/yr for UVXY.
Performance
BOIL vs. UVXY - 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 UVXY's -34.93% return. Over the past 10 years, BOIL has outperformed UVXY with an annualized return of -58.64%, while UVXY has yielded a comparatively lower -72.05% annualized 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%
UVXY
- 1D
- 2.95%
- 1M
- -9.52%
- 6M
- -33.79%
- YTD
- -34.93%
- 1Y
- -73.19%
- 3Y*
- -62.17%
- 5Y*
- -68.33%
- 10Y*
- -72.05%
BOIL vs. UVXY - 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% |
UVXY ProShares Ultra VIX Short-Term Futures ETF | -34.93% | -65.32% | -50.90% | -87.70% | -44.81% | -88.33% | -17.38% | -84.23% | 60.10% | -94.17% |
Correlation
The correlation between BOIL and UVXY is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.05 |
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 | -0.03 |
The correlation between BOIL and UVXY shifts across timeframes, from -0.05 (5 years) to 0.17 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
BOIL vs. UVXY — Risk / Return Rank
BOIL
UVXY
BOIL vs. UVXY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Bloomberg Natural Gas (BOIL) and ProShares Ultra VIX Short-Term Futures ETF (UVXY). 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 | UVXY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +0.61 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 0.82 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | -1.00 | -0.99 | -0.01 |
| Martin ratioReturn relative to average drawdown | -1.40 | -1.48 | +0.08 |
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Drawdowns
BOIL vs. UVXY - Drawdown Comparison
The maximum BOIL drawdown since its inception was -100.00%, roughly equal to the maximum UVXY drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for BOIL and UVXY.
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Drawdown Indicators
| BOIL | UVXY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -100.00% | 0.00% |
Max Drawdown (1Y)Largest decline over 1 year | -77.83% | -73.88% | -3.95% |
Max Drawdown (3Y)Largest decline over 3 years | -97.17% | -95.42% | -1.75% |
Max Drawdown (5Y)Largest decline over 5 years | -99.92% | -99.75% | -0.17% |
Max Drawdown (10Y)Largest decline over 10 years | -99.99% | -100.00% | +0.01% |
Current DrawdownCurrent decline from peak | -100.00% | -100.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -93.61% | -98.76% | +5.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 55.55% | 49.56% | +5.99% |
Volatility
BOIL vs. UVXY - Volatility Comparison
ProShares Ultra Bloomberg Natural Gas (BOIL) has a higher volatility of 19.67% compared to ProShares Ultra VIX Short-Term Futures ETF (UVXY) at 17.16%. This indicates that BOIL's price experiences larger fluctuations and is considered to be riskier than UVXY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BOIL | UVXY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.67% | 17.16% | +2.51% |
Volatility (6M)Calculated over the trailing 6-month period | 100.26% | 66.78% | +33.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 111.81% | 85.47% | +26.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 119.02% | 103.82% | +15.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 101.73% | 112.00% | -10.27% |
BOIL vs. UVXY - Expense Ratio Comparison
BOIL has a 1.31% expense ratio, which is higher than UVXY's 0.95% expense ratio.
Dividends
BOIL vs. UVXY - Dividend Comparison
Neither BOIL nor UVXY has paid dividends to shareholders.
Frequently Asked Questions
BOIL and UVXY have a correlation of 0.17, 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 UVXY (17.16%). In terms of maximum drawdown, BOIL dropped -100.00% vs UVXY's -100.00%.
On 10-year performance, BOIL leads with -58.64% vs -72.05% for UVXY. On fees, UVXY is cheaper at 0.95% per year. On volatility, UVXY has been the lower-risk option at 17.16%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, BOIL has performed better with a -58.64% return vs -72.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UVXY is cheaper with a 0.95% expense ratio, compared with 1.31% for BOIL.
BOIL and UVXY have nearly identical dividend yields, around 0.00%.
BOIL is categorized as Oil & Gas, while UVXY is Volatility. BOIL tracks Bloomberg Natural Gas Subindex, while UVXY tracks S&P 500 VIX SHORT-TERM FUTURES TR (150%). Their fees differ too: 1.31% for BOIL and 0.95% for UVXY.
BOIL currently has the higher Sharpe Ratio (-0.69 vs -0.86), 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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