FPEI vs. BOIL
FPEI (First Trust Institutional Preferred Securities & Income ETF) and BOIL (ProShares Ultra Bloomberg Natural Gas) are both exchange-traded funds - FPEI is a Preferred Stock/Convertible Bonds fund actively managed by First Trust, while BOIL is a Oil & Gas fund tracking the Bloomberg Natural Gas Subindex. FPEI is actively managed, while BOIL is passively managed. Over the past 5 years, FPEI returned 4.17%/yr vs -66.38%/yr for BOIL. At a 0.03 correlation, their price movements are largely independent. FPEI charges 0.85%/yr vs 1.31%/yr for BOIL.
Performance
FPEI vs. BOIL - Performance Comparison
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Returns By Period
In the year-to-date period, FPEI achieves a 1.95% return, which is significantly higher than BOIL's -41.05% return.
FPEI
- 1D
- 0.03%
- 1M
- 0.81%
- YTD
- 1.95%
- 6M
- 2.11%
- 1Y
- 7.87%
- 3Y*
- 11.03%
- 5Y*
- 4.17%
- 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%
FPEI vs. BOIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FPEI First Trust Institutional Preferred Securities & Income ETF | 1.95% | 9.82% | 10.94% | 6.29% | -8.19% | 4.63% | 7.08% | 15.86% | -4.29% | 2.07% |
BOIL ProShares Ultra Bloomberg Natural Gas | -41.05% | -58.98% | -60.75% | -92.00% | -31.85% | 23.84% | -74.74% | -67.70% | -20.55% | -27.94% |
Correlation
The correlation between FPEI and BOIL is -0.27, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.27 |
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 Aug 23, 2017 | 0.03 |
The correlation between FPEI and BOIL shifts across timeframes, from -0.27 (1 year) to 0.03 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FPEI vs. BOIL — Risk / Return Rank
FPEI
BOIL
FPEI vs. BOIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Institutional Preferred Securities & Income ETF (FPEI) 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.
| FPEI | BOIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.79 | ||
| Sortino ratioReturn per unit of downside risk | +4.24 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 0.89 | +0.59 |
| Calmar ratioReturn relative to maximum drawdown | 2.18 | -0.98 | +3.16 |
| Martin ratioReturn relative to average drawdown | 10.82 | -1.36 | +12.17 |
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Drawdowns
FPEI vs. BOIL - Drawdown Comparison
The maximum FPEI drawdown since its inception was -27.51%, smaller than the maximum BOIL drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for FPEI and BOIL.
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Drawdown Indicators
| FPEI | BOIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.51% | -100.00% | +72.49% |
Max Drawdown (1Y)Largest decline over 1 year | -3.63% | -77.43% | +73.80% |
Max Drawdown (3Y)Largest decline over 3 years | -4.26% | -96.86% | +92.60% |
Max Drawdown (5Y)Largest decline over 5 years | -16.46% | -99.91% | +83.45% |
Max Drawdown (10Y)Largest decline over 10 years | — | -99.99% | — |
Current DrawdownCurrent decline from peak | -0.08% | -100.00% | +99.92% |
Average DrawdownAverage peak-to-trough decline | -3.04% | -93.59% | +90.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.73% | 56.83% | -56.10% |
Volatility
FPEI vs. BOIL - Volatility Comparison
The current volatility for First Trust Institutional Preferred Securities & Income ETF (FPEI) is 0.82%, while ProShares Ultra Bloomberg Natural Gas (BOIL) has a volatility of 23.63%. This indicates that FPEI 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
| FPEI | BOIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.82% | 23.63% | -22.81% |
Volatility (6M)Calculated over the trailing 6-month period | 3.09% | 104.46% | -101.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.73% | 113.44% | -109.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.97% | 118.97% | -113.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.83% | 101.84% | -93.01% |
FPEI vs. BOIL - Expense Ratio Comparison
FPEI has a 0.85% expense ratio, which is lower than BOIL's 1.31% expense ratio.
Dividends
FPEI vs. BOIL - Dividend Comparison
FPEI's dividend yield for the trailing twelve months is around 5.70%, 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% |
FPEI First Trust Institutional Preferred Securities & Income ETF | 5.70% | 5.62% | 5.55% | 5.76% | 5.20% | 4.46% | 4.90% | 5.02% | 5.81% | 1.50% |
Frequently Asked Questions
FPEI and BOIL have a correlation of -0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BOIL has higher volatility (23.63%) compared to FPEI (0.82%). In terms of maximum drawdown, FPEI dropped -27.51% vs BOIL's -100.00%.
On 5-year performance, FPEI leads with 4.17% vs -66.38% for BOIL. On fees, FPEI is cheaper at 0.85% per year. On volatility, FPEI has been the lower-risk option at 0.82%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FPEI has performed better with a 4.17% return vs -66.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FPEI is cheaper with a 0.85% expense ratio, compared with 1.31% for BOIL.
FPEI has the higher dividend yield at 5.70%, compared with 0.00% for BOIL.
FPEI is categorized as Preferred Stock/Convertible Bonds, while BOIL is Oil & Gas. They also come from different issuers: First Trust and ProShares. Their fees differ too: 0.85% for FPEI and 1.31% for BOIL.
FPEI currently has the higher Sharpe Ratio (2.12 vs -0.67), 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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