FNGD vs. BOIL
FNGD (MicroSectors FANG+™ Index -3X Inverse Leveraged ETN) and BOIL (ProShares Ultra Bloomberg Natural Gas) are both exchange-traded funds - FNGD is a Leveraged Equities fund tracking the NYSE FANG+ Index (-300%), while BOIL is a Oil & Gas fund tracking the Bloomberg Natural Gas Subindex. Both are passively managed. Over the past 5 years, FNGD returned -62.47%/yr vs -66.38%/yr for BOIL. At a correlation of -0.04, they often move in opposite directions. FNGD charges 0.95%/yr vs 1.31%/yr for BOIL.
Performance
FNGD vs. BOIL - Performance Comparison
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Returns By Period
In the year-to-date period, FNGD achieves a -27.13% return, which is significantly higher than BOIL's -41.05% return.
FNGD
- 1D
- 7.44%
- 1M
- 2.40%
- YTD
- -27.13%
- 6M
- -23.35%
- 1Y
- -49.41%
- 3Y*
- -65.49%
- 5Y*
- -62.47%
- 10Y*
- —
BOIL
- 1D
- -4.80%
- 1M
- 5.97%
- YTD
- -41.05%
- 6M
- -46.24%
- 1Y
- -75.60%
- 3Y*
- -66.48%
- 5Y*
- -66.38%
- 10Y*
- -57.84%
FNGD vs. BOIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FNGD MicroSectors FANG+™ Index -3X Inverse Leveraged ETN | -27.13% | -61.42% | -76.57% | -90.14% | 52.21% | -60.04% | -95.60% | -72.46% | -16.61% |
BOIL ProShares Ultra Bloomberg Natural Gas | -41.05% | -58.98% | -60.75% | -92.00% | -31.85% | 23.84% | -74.74% | -67.70% | -22.23% |
Correlation
The correlation between FNGD and BOIL is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since Jan 23, 2018 | -0.04 |
The correlation between FNGD and BOIL shifts across timeframes, from -0.04 (all time) to 0.14 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FNGD vs. BOIL — Risk / Return Rank
FNGD
BOIL
FNGD vs. BOIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) 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.
| FNGD | BOIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.09 | ||
| Sortino ratioReturn per unit of downside risk | -0.15 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 0.89 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | -0.75 | -0.98 | +0.23 |
| Martin ratioReturn relative to average drawdown | -1.52 | -1.36 | -0.16 |
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Drawdowns
FNGD vs. BOIL - Drawdown Comparison
The maximum FNGD drawdown since its inception was -100.00%, roughly equal to the maximum BOIL drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for FNGD and BOIL.
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Drawdown Indicators
| FNGD | BOIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -100.00% | 0.00% |
Max Drawdown (1Y)Largest decline over 1 year | -65.92% | -77.43% | +11.51% |
Max Drawdown (3Y)Largest decline over 3 years | -97.35% | -96.86% | -0.49% |
Max Drawdown (5Y)Largest decline over 5 years | -99.67% | -99.91% | +0.24% |
Max Drawdown (10Y)Largest decline over 10 years | — | -99.99% | — |
Current DrawdownCurrent decline from peak | -100.00% | -100.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -87.30% | -93.59% | +6.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 34.15% | 56.83% | -22.68% |
Volatility
FNGD vs. BOIL - Volatility Comparison
MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) has a higher volatility of 33.07% compared to ProShares Ultra Bloomberg Natural Gas (BOIL) at 23.63%. This indicates that FNGD's price experiences larger fluctuations and is considered to be riskier 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
| FNGD | BOIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 33.07% | 23.63% | +9.44% |
Volatility (6M)Calculated over the trailing 6-month period | 53.22% | 104.46% | -51.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 65.50% | 113.44% | -47.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 89.67% | 118.97% | -29.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 91.30% | 101.84% | -10.54% |
FNGD vs. BOIL - Expense Ratio Comparison
FNGD has a 0.95% expense ratio, which is lower than BOIL's 1.31% expense ratio.
Dividends
FNGD vs. BOIL - Dividend Comparison
Neither FNGD nor BOIL has paid dividends to shareholders.
Frequently Asked Questions
FNGD and BOIL have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FNGD has higher volatility (33.07%) compared to BOIL (23.63%). In terms of maximum drawdown, FNGD dropped -100.00% vs BOIL's -100.00%.
On 5-year performance, FNGD leads with -62.47% vs -66.38% for BOIL. On fees, FNGD is cheaper at 0.95% per year. On volatility, BOIL has been the lower-risk option at 23.63%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FNGD has performed better with a -62.47% return vs -66.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FNGD is cheaper with a 0.95% expense ratio, compared with 1.31% for BOIL.
FNGD and BOIL have nearly identical dividend yields, around 0.00%.
FNGD is categorized as Leveraged Equities, while BOIL is Oil & Gas. FNGD tracks NYSE FANG+ Index (-300%), while BOIL tracks Bloomberg Natural Gas Subindex. They also come from different issuers: BMO and ProShares. Their fees differ too: 0.95% for FNGD and 1.31% for BOIL.
BOIL currently has the higher Sharpe Ratio (-0.67 vs -0.76), 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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