DZZ vs. BOIL
DZZ (DB Gold Double Short Exchange Traded Notes) and BOIL (ProShares Ultra Bloomberg Natural Gas) are both exchange-traded funds - DZZ is a Leveraged Commodities fund tracking the Deutsche Bank Liquid Commodity Index-Optimum Yield Gold (-200%), while BOIL is a Oil & Gas fund tracking the Bloomberg Natural Gas Subindex. Both are passively managed. Over the past 10 years, DZZ returned -9.40%/yr vs -58.64%/yr for BOIL. At a 0.01 correlation, their price movements are largely independent. DZZ charges 0.75%/yr vs 1.31%/yr for BOIL.
Performance
DZZ vs. BOIL - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with DZZ having a -49.74% return and BOIL slightly lower at -51.97%. Over the past 10 years, DZZ has outperformed BOIL with an annualized return of -9.40%, while BOIL has yielded a comparatively lower -58.64% annualized return.
DZZ
- 1D
- -2.28%
- 1M
- 5.75%
- 6M
- -45.48%
- YTD
- -49.74%
- 1Y
- 8.43%
- 3Y*
- -7.97%
- 5Y*
- -6.73%
- 10Y*
- -9.40%
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%
DZZ vs. BOIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DZZ DB Gold Double Short Exchange Traded Notes | -49.74% | 132.78% | -35.06% | -8.14% | 2.79% | 0.56% | -37.13% | -26.64% | 8.21% | -21.81% |
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% |
Correlation
The correlation between DZZ and BOIL is -0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.04 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.00 |
Correlation (All Time) Calculated using the full available price history since Oct 6, 2011 | 0.01 |
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Return for Risk
DZZ vs. BOIL — Risk / Return Rank
DZZ
BOIL
DZZ vs. BOIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DB Gold Double Short Exchange Traded Notes (DZZ) and ProShares Ultra Bloomberg Natural Gas (BOIL). 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.
| DZZ | BOIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.74 | ||
| Sortino ratioReturn per unit of downside risk | +2.63 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 0.87 | +0.34 |
| Calmar ratioReturn relative to maximum drawdown | 0.10 | -1.00 | +1.10 |
| Martin ratioReturn relative to average drawdown | 0.14 | -1.40 | +1.54 |
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Drawdowns
DZZ vs. BOIL - Drawdown Comparison
The maximum DZZ drawdown since its inception was -96.64%, roughly equal to the maximum BOIL drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for DZZ and BOIL.
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Drawdown Indicators
| DZZ | BOIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.64% | -100.00% | +3.36% |
Max Drawdown (1Y)Largest decline over 1 year | -81.05% | -77.83% | -3.22% |
Max Drawdown (3Y)Largest decline over 3 years | -81.05% | -97.17% | +16.12% |
Max Drawdown (5Y)Largest decline over 5 years | -81.05% | -99.92% | +18.87% |
Max Drawdown (10Y)Largest decline over 10 years | -81.05% | -99.99% | +18.94% |
Current DrawdownCurrent decline from peak | -95.30% | -100.00% | +4.70% |
Average DrawdownAverage peak-to-trough decline | -82.37% | -93.61% | +11.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 59.62% | 55.55% | +4.07% |
Volatility
DZZ vs. BOIL - Volatility Comparison
The current volatility for DB Gold Double Short Exchange Traded Notes (DZZ) is 18.00%, while ProShares Ultra Bloomberg Natural Gas (BOIL) has a volatility of 19.67%. This indicates that DZZ experiences smaller price fluctuations and is considered to be less risky than BOIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DZZ | BOIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.00% | 19.67% | -1.67% |
Volatility (6M)Calculated over the trailing 6-month period | 54.75% | 100.26% | -45.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 170.16% | 111.81% | +58.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 84.14% | 119.02% | -34.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 64.23% | 101.73% | -37.50% |
DZZ vs. BOIL - Expense Ratio Comparison
DZZ has a 0.75% expense ratio, which is lower than BOIL's 1.31% expense ratio.
Dividends
DZZ vs. BOIL - Dividend Comparison
Neither DZZ nor BOIL has paid dividends to shareholders.
Frequently Asked Questions
DZZ and BOIL have a correlation of -0.04, 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 DZZ (18.00%). In terms of maximum drawdown, DZZ dropped -96.64% vs BOIL's -100.00%.
On 10-year performance, DZZ leads with -9.40% vs -58.64% for BOIL. On fees, DZZ is cheaper at 0.75% per year. On volatility, DZZ has been the lower-risk option at 18.00%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DZZ has performed better with a -9.40% return vs -58.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DZZ is cheaper with a 0.75% expense ratio, compared with 1.31% for BOIL.
DZZ and BOIL have nearly identical dividend yields, around 0.00%.
DZZ is categorized as Leveraged Commodities, while BOIL is Oil & Gas. DZZ tracks Deutsche Bank Liquid Commodity Index-Optimum Yield Gold (-200%), while BOIL tracks Bloomberg Natural Gas Subindex. They also come from different issuers: Deutsche Bank and ProShares. Their fees differ too: 0.75% for DZZ and 1.31% for BOIL.
DZZ currently has the higher Sharpe Ratio (0.05 vs -0.69), 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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