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 Oil & Gas fund tracking the Bloomberg Natural Gas Subindex. Both are passively managed. Over the past 5 years, KOCT returned 6.65%/yr vs -66.38%/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 10.07% return, which is significantly higher than BOIL's -41.05% return.
KOCT
- 1D
- -0.19%
- 1M
- 1.71%
- YTD
- 10.07%
- 6M
- 9.29%
- 1Y
- 22.84%
- 3Y*
- 12.17%
- 5Y*
- 6.65%
- 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%
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 | 10.07% | 10.14% | 11.08% | 9.02% | -7.87% | 5.67% | 2.57% | 3.85% |
BOIL ProShares Ultra Bloomberg Natural Gas | -41.05% | -58.98% | -60.75% | -92.00% | -31.85% | 23.84% | -74.74% | -35.20% |
Correlation
The correlation between KOCT 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 | -0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Oct 1, 2019 | 0.03 |
The correlation between KOCT 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
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.
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.
| KOCT | BOIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.85 | ||
| Sortino ratioReturn per unit of downside risk | +4.14 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 0.89 | +0.50 |
| Calmar ratioReturn relative to maximum drawdown | 4.63 | -0.98 | +5.61 |
| Martin ratioReturn relative to average drawdown | 16.63 | -1.36 | +17.99 |
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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% | -77.43% | +72.48% |
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 | -0.19% | -100.00% | +99.81% |
Average DrawdownAverage peak-to-trough decline | -4.21% | -93.59% | +89.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.38% | 56.83% | -55.45% |
Volatility
KOCT vs. BOIL - Volatility Comparison
The current volatility for Innovator U.S. Small Cap Power Buffer ETF - October (KOCT) is 2.11%, while ProShares Ultra Bloomberg Natural Gas (BOIL) has a volatility of 23.63%. 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 | 2.11% | 23.63% | -21.52% |
Volatility (6M)Calculated over the trailing 6-month period | 6.73% | 104.46% | -97.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.52% | 113.44% | -102.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.28% | 118.97% | -106.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.57% | 101.84% | -87.27% |
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 -0.27, 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 KOCT (2.11%). In terms of maximum drawdown, KOCT dropped -28.22% vs BOIL's -100.00%.
On 5-year performance, KOCT leads with 6.65% vs -66.38% for BOIL. On fees, KOCT is cheaper at 0.79% per year. On volatility, KOCT has been the lower-risk option at 2.11%. 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 6.65% return vs -66.38%. 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 Oil & Gas. 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 (2.18 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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