KOCT vs. BOIL
KOCT (Innovator U.S. Small Cap Power Buffer ETF - October) and BOIL (ProShares Ultra Bloomberg Natural Gas) are both exchange-traded funds - KOCT is a Defined Outcome fund tracking the Russell 2000 Price Return Index, while BOIL is a Leveraged Commodities fund tracking the Bloomberg Natural Gas Subindex. Both are passively managed. Over the past 5 years, KOCT returned 6.48%/yr vs -64.63%/yr for BOIL. At a 0.03 correlation, their price movements are largely independent. KOCT charges 0.79%/yr vs 1.31%/yr for BOIL.
Performance
KOCT vs. BOIL - Performance Comparison
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Returns By Period
In the year-to-date period, KOCT achieves a 8.72% return, which is significantly higher than BOIL's -36.77% return.
KOCT
- 1D
- -0.31%
- 1M
- 1.83%
- YTD
- 8.72%
- 6M
- 8.65%
- 1Y
- 22.22%
- 3Y*
- 11.49%
- 5Y*
- 6.48%
- 10Y*
- —
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%
KOCT vs. BOIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
KOCT Innovator U.S. Small Cap Power Buffer ETF - October | 8.72% | 10.14% | 11.08% | 9.02% | -7.87% | 5.67% | 2.57% | 5.28% |
BOIL ProShares Ultra Bloomberg Natural Gas | -36.77% | -58.98% | -60.75% | -92.00% | -31.85% | 23.84% | -74.74% | -33.28% |
Correlation
The correlation between KOCT and BOIL is -0.28, 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 | -0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Oct 2, 2019 | 0.03 |
The correlation between KOCT and BOIL shifts across timeframes, from -0.28 (1 year) to 0.03 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
KOCT vs. BOIL — Risk / Return Rank
KOCT
BOIL
KOCT vs. BOIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Small Cap Power Buffer ETF - October (KOCT) 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.
| KOCT | BOIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.79 | ||
| Sortino ratioReturn per unit of downside risk | +4.01 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 0.90 | +0.48 |
| Calmar ratioReturn relative to maximum drawdown | 4.50 | -0.92 | +5.43 |
| Martin ratioReturn relative to average drawdown | 16.08 | -1.26 | +17.33 |
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
| KOCT | BOIL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.13 | -0.66 | +2.79 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.53 | -0.55 | +1.08 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.56 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | -0.61 | +1.06 |
Drawdowns
KOCT vs. BOIL - Drawdown Comparison
The maximum KOCT drawdown since its inception was -28.22%, smaller than the maximum BOIL drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for KOCT and BOIL.
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Drawdown Indicators
| KOCT | BOIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.22% | -100.00% | +71.78% |
Max Drawdown (1Y)Largest decline over 1 year | -4.95% | -80.85% | +75.90% |
Max Drawdown (3Y)Largest decline over 3 years | -15.03% | -96.86% | +81.83% |
Max Drawdown (5Y)Largest decline over 5 years | -16.63% | -99.91% | +83.28% |
Max Drawdown (10Y)Largest decline over 10 years | — | -99.99% | — |
Current DrawdownCurrent decline from peak | -0.37% | -100.00% | +99.63% |
Average DrawdownAverage peak-to-trough decline | -4.24% | -93.59% | +89.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.39% | 59.20% | -57.81% |
Volatility
KOCT vs. BOIL - Volatility Comparison
The current volatility for Innovator U.S. Small Cap Power Buffer ETF - October (KOCT) is 2.15%, while ProShares Ultra Bloomberg Natural Gas (BOIL) has a volatility of 23.95%. This indicates that KOCT 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
| KOCT | BOIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.15% | 23.95% | -21.80% |
Volatility (6M)Calculated over the trailing 6-month period | 6.68% | 107.61% | -100.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.51% | 113.64% | -103.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.25% | 118.89% | -106.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.60% | 101.81% | -87.21% |
KOCT vs. BOIL - Expense Ratio Comparison
KOCT has a 0.79% expense ratio, which is lower than BOIL's 1.31% expense ratio.
Dividends
KOCT vs. BOIL - Dividend Comparison
Neither KOCT nor BOIL has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
BOIL ProShares Ultra Bloomberg Natural Gas | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
KOCT Innovator U.S. Small Cap Power Buffer ETF - October | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.79% |
Frequently Asked Questions
KOCT and BOIL have a correlation of -0.28, 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 KOCT (2.15%). In terms of maximum drawdown, KOCT dropped -28.22% vs BOIL's -100.00%.
On 5-year performance, KOCT leads with 6.48% vs -64.63% for BOIL. On fees, KOCT is cheaper at 0.79% per year. On volatility, KOCT has been the lower-risk option at 2.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, KOCT has performed better with a 6.48% return vs -64.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KOCT is cheaper with a 0.79% expense ratio, compared with 1.31% for BOIL.
KOCT and BOIL have nearly identical dividend yields, around 0.00%.
KOCT is categorized as Defined Outcome, while BOIL is Leveraged Commodities. KOCT tracks Russell 2000 Price Return Index, while BOIL tracks Bloomberg Natural Gas Subindex. They also come from different issuers: Innovator and ProShares. Their fees differ too: 0.79% for KOCT and 1.31% for BOIL.
KOCT currently has the higher Sharpe Ratio (2.13 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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