FCG vs. BOIL
FCG (First Trust Natural Gas ETF) and BOIL (ProShares Ultra Bloomberg Natural Gas) are both exchange-traded funds - FCG is a Energy Equities fund tracking the ISE-Revere Natural Gas Index, while BOIL is a Leveraged Commodities fund tracking the Bloomberg Natural Gas Subindex. Both are passively managed. Over the past 10 years, FCG returned 4.65%/yr vs -56.95%/yr for BOIL. At a 0.25 correlation, their price movements are largely independent. FCG charges 0.60%/yr vs 1.31%/yr for BOIL.
Performance
FCG vs. BOIL - Performance Comparison
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Returns By Period
In the year-to-date period, FCG achieves a 27.71% return, which is significantly higher than BOIL's -36.77% return. Over the past 10 years, FCG has outperformed BOIL with an annualized return of 4.65%, while BOIL has yielded a comparatively lower -56.95% annualized return.
FCG
- 1D
- 1.02%
- 1M
- -6.03%
- YTD
- 27.71%
- 6M
- 20.12%
- 1Y
- 32.99%
- 3Y*
- 12.75%
- 5Y*
- 16.52%
- 10Y*
- 4.65%
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%
FCG vs. BOIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FCG First Trust Natural Gas ETF | 27.71% | -2.28% | 4.16% | 2.55% | 47.24% | 98.49% | -23.20% | -15.76% | -34.81% | -11.38% |
BOIL ProShares Ultra Bloomberg Natural Gas | -36.77% | -58.98% | -60.75% | -92.00% | -31.85% | 23.84% | -74.74% | -67.70% | -20.55% | -65.72% |
Correlation
The correlation between FCG and BOIL is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.30 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.31 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Oct 7, 2011 | 0.25 |
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Return for Risk
FCG vs. BOIL — Risk / Return Rank
FCG
BOIL
FCG vs. BOIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Natural Gas ETF (FCG) 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.
| FCG | BOIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.90 | ||
| Sortino ratioReturn per unit of downside risk | +2.47 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 0.90 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 2.54 | -0.92 | +3.46 |
| Martin ratioReturn relative to average drawdown | 5.56 | -1.26 | +6.81 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FCG | BOIL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.24 | -0.66 | +1.90 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.50 | -0.55 | +1.04 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.12 | -0.56 | +0.68 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.11 | -0.61 | +0.50 |
Drawdowns
FCG vs. BOIL - Drawdown Comparison
The maximum FCG drawdown since its inception was -97.20%, roughly equal to the maximum BOIL drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for FCG and BOIL.
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Drawdown Indicators
| FCG | BOIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -97.20% | -100.00% | +2.80% |
Max Drawdown (1Y)Largest decline over 1 year | -13.07% | -80.85% | +67.78% |
Max Drawdown (3Y)Largest decline over 3 years | -29.44% | -96.86% | +67.42% |
Max Drawdown (5Y)Largest decline over 5 years | -33.33% | -99.91% | +66.58% |
Max Drawdown (10Y)Largest decline over 10 years | -85.04% | -99.99% | +14.95% |
Current DrawdownCurrent decline from peak | -74.25% | -100.00% | +25.75% |
Average DrawdownAverage peak-to-trough decline | -65.38% | -93.59% | +28.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.95% | 59.20% | -53.25% |
Volatility
FCG vs. BOIL - Volatility Comparison
The current volatility for First Trust Natural Gas ETF (FCG) is 9.60%, while ProShares Ultra Bloomberg Natural Gas (BOIL) has a volatility of 23.95%. This indicates that FCG 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
| FCG | BOIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.60% | 23.95% | -14.35% |
Volatility (6M)Calculated over the trailing 6-month period | 20.15% | 107.61% | -87.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.75% | 113.64% | -86.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.46% | 118.89% | -85.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.30% | 101.81% | -63.51% |
FCG vs. BOIL - Expense Ratio Comparison
FCG has a 0.60% expense ratio, which is lower than BOIL's 1.31% expense ratio.
Dividends
FCG vs. BOIL - Dividend Comparison
FCG's dividend yield for the trailing twelve months is around 2.15%, while BOIL has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% |
FCG First Trust Natural Gas ETF | 2.15% | 2.86% | 2.76% | 3.25% | 3.04% | 1.73% | 3.82% | 2.87% | 1.46% | 1.56% | 1.70% | 4.79% |
Frequently Asked Questions
FCG and BOIL have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BOIL has higher volatility (23.95%) compared to FCG (9.60%). In terms of maximum drawdown, FCG dropped -97.20% vs BOIL's -100.00%.
On 10-year performance, FCG leads with 4.65% vs -56.95% for BOIL. On fees, FCG is cheaper at 0.60% per year. On volatility, FCG has been the lower-risk option at 9.60%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FCG has performed better with a 4.65% return vs -56.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FCG is cheaper with a 0.60% expense ratio, compared with 1.31% for BOIL.
FCG has the higher dividend yield at 2.15%, compared with 0.00% for BOIL.
FCG is categorized as Energy Equities, while BOIL is Leveraged Commodities. FCG tracks ISE-Revere Natural Gas Index, while BOIL tracks Bloomberg Natural Gas Subindex. They also come from different issuers: First Trust and ProShares. Their fees differ too: 0.60% for FCG and 1.31% for BOIL.
FCG currently has the higher Sharpe Ratio (1.24 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.
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