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 -63.63%/yr vs -68.58%/yr for BOIL. At a correlation of -0.03, 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 -36.98% return, which is significantly higher than BOIL's -51.97% return.
FNGD
- 1D
- 4.78%
- 1M
- -5.44%
- 6M
- -39.84%
- YTD
- -36.98%
- 1Y
- -49.22%
- 3Y*
- -65.04%
- 5Y*
- -63.63%
- 10Y*
- —
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%
FNGD vs. BOIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FNGD MicroSectors FANG+™ Index -3X Inverse Leveraged ETN | -36.98% | -61.42% | -76.57% | -90.14% | 52.21% | -60.04% | -95.60% | -72.46% | -16.61% |
BOIL ProShares Ultra Bloomberg Natural Gas | -51.97% | -58.98% | -60.75% | -92.00% | -31.85% | 23.84% | -74.74% | -67.70% | -22.23% |
Correlation
The correlation between FNGD and BOIL is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
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 | -0.03 |
The correlation between FNGD and BOIL shifts across timeframes, from -0.03 (all time) to 0.13 (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 | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | -0.01 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 0.87 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.75 | -1.00 | +0.25 |
| Martin ratioReturn relative to average drawdown | -1.49 | -1.40 | -0.09 |
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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% | -77.83% | +11.91% |
Max Drawdown (3Y)Largest decline over 3 years | -97.35% | -97.17% | -0.18% |
Max Drawdown (5Y)Largest decline over 5 years | -99.67% | -99.92% | +0.25% |
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 | -87.39% | -93.61% | +6.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.13% | 55.55% | -22.42% |
Volatility
FNGD vs. BOIL - Volatility Comparison
MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) and ProShares Ultra Bloomberg Natural Gas (BOIL) have volatilities of 19.89% and 19.67%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. 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 | 19.89% | 19.67% | +0.22% |
Volatility (6M)Calculated over the trailing 6-month period | 53.82% | 100.26% | -46.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 65.42% | 111.81% | -46.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 89.65% | 119.02% | -29.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 91.04% | 101.73% | -10.69% |
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 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FNGD has higher volatility (19.89%) compared to BOIL (19.67%). In terms of maximum drawdown, FNGD dropped -100.00% vs BOIL's -100.00%.
On 5-year performance, FNGD leads with -63.63% vs -68.58% for BOIL. On fees, FNGD is cheaper at 0.95% per year. On volatility, BOIL has been the lower-risk option at 19.67%. 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 -63.63% return vs -68.58%. 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 (-0.69 vs -0.75), 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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