ERX vs. BOIL
ERX (Direxion Daily Energy Bull 2X Shares) and BOIL (ProShares Ultra Bloomberg Natural Gas) are both exchange-traded funds - ERX is a Leveraged Equities fund tracking the Energy Select Sector Index (300%), while BOIL is a Oil & Gas fund tracking the Bloomberg Natural Gas Subindex. Both are passively managed. Over the past 10 years, ERX returned -10.27%/yr vs -57.64%/yr for BOIL. At a 0.15 correlation, their price movements are largely independent. ERX charges 1.09%/yr vs 1.31%/yr for BOIL.
Performance
ERX vs. BOIL - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, ERX achieves a 42.51% return, which is significantly higher than BOIL's -38.08% return. Over the past 10 years, ERX has outperformed BOIL with an annualized return of -10.27%, while BOIL has yielded a comparatively lower -57.64% annualized return.
ERX
- 1D
- 2.68%
- 1M
- -17.13%
- YTD
- 42.51%
- 6M
- 45.41%
- 1Y
- 44.49%
- 3Y*
- 19.42%
- 5Y*
- 25.42%
- 10Y*
- -10.27%
BOIL
- 1D
- 0.18%
- 1M
- 11.30%
- YTD
- -38.08%
- 6M
- -35.19%
- 1Y
- -76.58%
- 3Y*
- -65.93%
- 5Y*
- -65.65%
- 10Y*
- -57.64%
ERX vs. BOIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ERX Direxion Daily Energy Bull 2X Shares | 42.51% | 2.79% | 1.09% | -12.26% | 130.58% | 111.91% | -91.60% | 17.13% | -55.94% | -11.60% |
BOIL ProShares Ultra Bloomberg Natural Gas | -38.08% | -58.98% | -60.75% | -92.00% | -31.85% | 23.84% | -74.74% | -67.70% | -20.55% | -65.72% |
Correlation
The correlation between ERX and BOIL is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.20 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Oct 6, 2011 | 0.15 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
ERX vs. BOIL — Risk / Return Rank
ERX
BOIL
ERX vs. BOIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Energy Bull 2X Shares (ERX) 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.
| ERX | BOIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.74 | ||
| Sortino ratioReturn per unit of downside risk | +2.45 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 0.89 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 1.57 | -0.98 | +2.55 |
| Martin ratioReturn relative to average drawdown | 4.63 | -1.35 | +5.98 |
Loading charts...
Drawdowns
ERX vs. BOIL - Drawdown Comparison
The maximum ERX drawdown since its inception was -99.54%, roughly equal to the maximum BOIL drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for ERX and BOIL.
Loading charts...
Drawdown Indicators
| ERX | BOIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.54% | -100.00% | +0.46% |
Max Drawdown (1Y)Largest decline over 1 year | -28.49% | -78.06% | +49.57% |
Max Drawdown (3Y)Largest decline over 3 years | -42.34% | -96.86% | +54.52% |
Max Drawdown (5Y)Largest decline over 5 years | -46.90% | -99.91% | +53.01% |
Max Drawdown (10Y)Largest decline over 10 years | -98.59% | -99.99% | +1.40% |
Current DrawdownCurrent decline from peak | -92.81% | -100.00% | +7.19% |
Average DrawdownAverage peak-to-trough decline | -67.09% | -93.58% | +26.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.71% | 59.95% | -50.24% |
Volatility
ERX vs. BOIL - Volatility Comparison
The current volatility for Direxion Daily Energy Bull 2X Shares (ERX) is 14.42%, while ProShares Ultra Bloomberg Natural Gas (BOIL) has a volatility of 23.27%. This indicates that ERX 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.
Loading charts...
Volatility by Period
| ERX | BOIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.42% | 23.27% | -8.85% |
Volatility (6M)Calculated over the trailing 6-month period | 34.17% | 104.92% | -70.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.07% | 113.57% | -71.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 51.92% | 118.96% | -67.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 69.17% | 101.84% | -32.67% |
ERX vs. BOIL - Expense Ratio Comparison
ERX has a 1.09% expense ratio, which is lower than BOIL's 1.31% expense ratio.
Dividends
ERX vs. BOIL - Dividend Comparison
ERX's dividend yield for the trailing twelve months is around 1.88%, while BOIL has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
ERX Direxion Daily Energy Bull 2X Shares | 1.88% | 2.54% | 2.94% | 3.17% | 2.23% | 2.16% | 2.35% | 1.56% | 3.10% | 0.85% |
Frequently Asked Questions
ERX and BOIL have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BOIL has higher volatility (23.27%) compared to ERX (14.42%). In terms of maximum drawdown, ERX dropped -99.54% vs BOIL's -100.00%.
On 10-year performance, ERX leads with -10.27% vs -57.64% for BOIL. On fees, ERX is cheaper at 1.09% per year. On volatility, ERX has been the lower-risk option at 14.42%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, ERX has performed better with a -10.27% return vs -57.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ERX is cheaper with a 1.09% expense ratio, compared with 1.31% for BOIL.
ERX has the higher dividend yield at 1.88%, compared with 0.00% for BOIL.
ERX is categorized as Leveraged Equities, while BOIL is Oil & Gas. ERX tracks Energy Select Sector Index (300%), while BOIL tracks Bloomberg Natural Gas Subindex. They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.09% for ERX and 1.31% for BOIL.
ERX currently has the higher Sharpe Ratio (1.06 vs -0.68), 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.
Find the right allocation for ERX and BOIL
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer