BOIL vs. WXET

Last updated Jun 4, 2026

BOIL (ProShares Ultra Bloomberg Natural Gas) and WXET (Teucrium 2x Daily Wheat ETF) are both Leveraged Commodities funds. BOIL is passively managed, while WXET is actively managed. Over the past year, BOIL returned -74.31% vs -11.24% for WXET. At a 0.14 correlation, their price movements are largely independent. BOIL charges 1.31%/yr vs 0.95%/yr for WXET.

Performance

BOIL vs. WXET - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Bloomberg Natural Gas (BOIL) and Teucrium 2x Daily Wheat ETF (WXET). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BOIL achieves a -36.77% return, which is significantly lower than WXET's 21.04% return.

BOIL

• 1D: 4.32%
• 1M: 4.62%
• YTD: -36.77%
• 6M: -62.98%
• 1Y: -74.31%
• 3Y*: -60.61%
• 5Y*: -64.63%
• 10Y*: -56.95%

WXET

• 1D: -5.28%
• 1M: -17.12%
• YTD: 21.04%
• 6M: 7.24%
• 1Y: -11.24%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BOIL vs. WXET - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BOIL ProShares Ultra Bloomberg Natural Gas	-36.77%	-58.98%	26.72%
WXET Teucrium 2x Daily Wheat ETF	21.04%	-37.99%	-0.40%

Correlation

The correlation between BOIL and WXET is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (All Time) Calculated using the full available price history since Dec 16, 2024	0.14

Return for Risk

BOIL vs. WXET — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BOIL

BOIL Risk / Return Rank: 3
BOIL Sharpe Ratio Rank: 3
BOIL Sortino Ratio Rank: 4
BOIL Omega Ratio Rank: 3
BOIL Calmar Ratio Rank: 1
BOIL Martin Ratio Rank: 3

WXET

WXET Risk / Return Rank: 7
WXET Sharpe Ratio Rank: 7
WXET Sortino Ratio Rank: 8
WXET Omega Ratio Rank: 8
WXET Calmar Ratio Rank: 6
WXET Martin Ratio Rank: 7

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BOIL vs. WXET - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Bloomberg Natural Gas (BOIL) and Teucrium 2x Daily Wheat ETF (WXET). 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.

	BOIL	WXET	Difference
Sharpe ratio: Return per unit of total volatility	-0.66	-0.23	-0.43
Sortino ratio: Return per unit of downside risk	-0.78	0.01	-0.79
Omega ratio: Gain probability vs. loss probability	0.90	1.00	-0.10
Calmar ratio: Return relative to maximum drawdown	-0.92	-0.32	-0.60
Martin ratio: Return relative to average drawdown	-1.26	-0.48	-0.77
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BOIL vs. WXET - Sharpe Ratio Comparison

The current BOIL Sharpe Ratio is -0.66, which is lower than the WXET Sharpe Ratio of -0.23. The chart below compares the historical Sharpe Ratios of BOIL and WXET, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BOIL	WXET	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.66	-0.23	-0.43
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.55	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.56	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.61	-0.37	-0.24

Drawdowns

BOIL vs. WXET - Drawdown Comparison

The maximum BOIL drawdown since its inception was -100.00%, which is greater than WXET's maximum drawdown of -48.31%. Use the drawdown chart below to compare losses from any high point for BOIL and WXET.

Drawdown Indicators

	BOIL	WXET	Difference
Max Drawdown Largest peak-to-trough decline	-100.00%	-48.31%	-51.69%
Max Drawdown (1Y) Largest decline over 1 year	-80.85%	-35.64%	-45.21%
Max Drawdown (3Y) Largest decline over 3 years	-96.86%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-99.91%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-99.99%	—	—
Current Drawdown Current decline from peak	-100.00%	-37.43%	-62.57%
Average Drawdown Average peak-to-trough decline	-93.59%	-30.50%	-63.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	59.20%	23.40%	+35.80%

Volatility

BOIL vs. WXET - Volatility Comparison

ProShares Ultra Bloomberg Natural Gas (BOIL) has a higher volatility of 23.95% compared to Teucrium 2x Daily Wheat ETF (WXET) at 22.01%. This indicates that BOIL's price experiences larger fluctuations and is considered to be riskier than WXET based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BOIL	WXET	Difference
Volatility (1M) Calculated over the trailing 1-month period	23.95%	22.01%	+1.94%
Volatility (6M) Calculated over the trailing 6-month period	107.61%	39.70%	+67.91%
Volatility (1Y) Calculated over the trailing 1-year period	113.64%	50.13%	+63.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	118.89%	48.57%	+70.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	101.81%	48.57%	+53.24%

BOIL vs. WXET - Expense Ratio Comparison

BOIL has a 1.31% expense ratio, which is higher than WXET's 0.95% expense ratio.

Dividends

BOIL vs. WXET - Dividend Comparison

BOIL has not paid dividends to shareholders, while WXET's dividend yield for the trailing twelve months is around 2.08%.

Position	TTM	2025	2024
BOIL ProShares Ultra Bloomberg Natural Gas	0.00%	0.00%	0.00%
WXET Teucrium 2x Daily Wheat ETF	2.08%	3.57%	0.13%

Frequently Asked Questions

Can I hold both BOIL and WXET in my portfolio?

BOIL and WXET 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.

Which is riskier, BOIL or WXET?

BOIL has higher volatility (23.95%) compared to WXET (22.01%). In terms of maximum drawdown, BOIL dropped -100.00% vs WXET's -48.31%.

Which ETF is better, BOIL or WXET?

On 1-year performance, WXET leads with -11.24% vs -74.31% for BOIL. On fees, WXET is cheaper at 0.95% per year. On volatility, WXET has been the lower-risk option at 22.01%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BOIL or WXET?

Over the 1-year period, WXET has performed better with a -11.24% return vs -74.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BOIL or WXET?

WXET is cheaper with a 0.95% expense ratio, compared with 1.31% for BOIL.

Which ETF pays a higher dividend yield, BOIL or WXET?

WXET has the higher dividend yield at 2.08%, compared with 0.00% for BOIL.

What is the main difference between BOIL and WXET?

They also come from different issuers: ProShares and Teucrium. Their fees differ too: 1.31% for BOIL and 0.95% for WXET.

Which has better risk-adjusted returns?

WXET currently has the higher Sharpe Ratio (-0.23 vs -0.66), 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.