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 -8.74%/yr vs -57.86%/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
In the year-to-date period, DZZ achieves a -46.07% return, which is significantly lower than BOIL's -38.54% return. Over the past 10 years, DZZ has outperformed BOIL with an annualized return of -8.74%, while BOIL has yielded a comparatively lower -57.86% annualized return.
DZZ
- 1D
- 12.25%
- 1M
- 0.29%
- YTD
- -46.07%
- 6M
- -41.83%
- 1Y
- 9.29%
- 3Y*
- -6.52%
- 5Y*
- -6.15%
- 10Y*
- -8.74%
BOIL
- 1D
- 0.11%
- 1M
- 11.09%
- YTD
- -38.54%
- 6M
- -41.03%
- 1Y
- -71.62%
- 3Y*
- -66.38%
- 5Y*
- -66.45%
- 10Y*
- -57.86%
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 | -46.07% | 132.78% | -35.06% | -8.14% | 2.79% | 0.56% | -37.13% | -26.64% | 8.21% | -21.81% |
BOIL ProShares Ultra Bloomberg Natural Gas | -38.54% | -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 -0.02, 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 | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.03 |
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 | +0.69 | ||
| Sortino ratioReturn per unit of downside risk | +2.34 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 0.91 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 0.12 | -0.93 | +1.04 |
| Martin ratioReturn relative to average drawdown | 0.16 | -1.28 | +1.44 |
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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% | -77.43% | -3.62% |
Max Drawdown (3Y)Largest decline over 3 years | -81.05% | -96.86% | +15.81% |
Max Drawdown (5Y)Largest decline over 5 years | -81.05% | -99.91% | +18.86% |
Max Drawdown (10Y)Largest decline over 10 years | -81.05% | -99.99% | +18.94% |
Current DrawdownCurrent decline from peak | -94.95% | -100.00% | +5.05% |
Average DrawdownAverage peak-to-trough decline | -82.33% | -93.59% | +11.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 56.67% | 56.14% | +0.53% |
Volatility
DZZ vs. BOIL - Volatility Comparison
The current volatility for DB Gold Double Short Exchange Traded Notes (DZZ) is 19.32%, while ProShares Ultra Bloomberg Natural Gas (BOIL) has a volatility of 22.76%. 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 | 19.32% | 22.76% | -3.44% |
Volatility (6M)Calculated over the trailing 6-month period | 61.17% | 104.19% | -43.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 170.20% | 113.02% | +57.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 83.98% | 118.93% | -34.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 64.16% | 101.81% | -37.65% |
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 -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BOIL has higher volatility (22.76%) compared to DZZ (19.32%). In terms of maximum drawdown, DZZ dropped -96.64% vs BOIL's -100.00%.
On 10-year performance, DZZ leads with -8.74% vs -57.86% for BOIL. On fees, DZZ is cheaper at 0.75% per year. On volatility, DZZ has been the lower-risk option at 19.32%. 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 -8.74% return vs -57.86%. 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 -0.64), 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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