KOLD vs. DRIP
Compare and contrast key facts about ProShares UltraShort Bloomberg Natural Gas (KOLD) and Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP).
KOLD and DRIP are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. KOLD is a passively managed fund by ProShares that tracks the performance of the Bloomberg Natural Gas Subindex (TR) (200%). It was launched on Oct 4, 2011. DRIP is a passively managed fund by Direxion that tracks the performance of the S&P Oil & Gas Exploration & Production Select Industry Index (-300%). It was launched on Apr 1, 2020. Both KOLD and DRIP are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: KOLD or DRIP.
Key characteristics
| KOLD | DRIP | |
|---|---|---|
| YTD Return | 71.79% | -8.19% |
| 1Y Return | 182.15% | -11.23% |
| 3Y Return (Ann) | -0.79% | -37.50% |
| 5Y Return (Ann) | -19.79% | -54.79% |
| Sharpe Ratio | 2.00 | -0.22 |
| Sortino Ratio | 2.38 | -0.01 |
| Omega Ratio | 1.29 | 1.00 |
| Calmar Ratio | 2.03 | -0.10 |
| Martin Ratio | 7.62 | -0.52 |
| Ulcer Index | 25.75% | 19.16% |
| Daily Std Dev | 98.23% | 45.03% |
| Max Drawdown | -99.45% | -99.90% |
| Current Drawdown | -90.40% | -99.87% |
Correlation
The correlation between KOLD and DRIP is 0.21, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
KOLD vs. DRIP - Performance Comparison
In the year-to-date period, KOLD achieves a 71.79% return, which is significantly higher than DRIP's -8.19% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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KOLD vs. DRIP - Expense Ratio Comparison
KOLD has a 0.95% expense ratio, which is lower than DRIP's 1.07% expense ratio.
Risk-Adjusted Performance
KOLD vs. DRIP - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Bloomberg Natural Gas (KOLD) and Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP). 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.
Dividends
KOLD vs. DRIP - Dividend Comparison
KOLD has not paid dividends to shareholders, while DRIP's dividend yield for the trailing twelve months is around 5.38%.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|
KOLD ProShares UltraShort Bloomberg Natural Gas | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
DRIP Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares | 5.38% | 5.09% | 0.00% | 0.00% | 0.01% | 0.96% | 0.58% |
Drawdowns
KOLD vs. DRIP - Drawdown Comparison
The maximum KOLD drawdown since its inception was -99.45%, roughly equal to the maximum DRIP drawdown of -99.90%. Use the drawdown chart below to compare losses from any high point for KOLD and DRIP. For additional features, visit the drawdowns tool.
Volatility
KOLD vs. DRIP - Volatility Comparison
ProShares UltraShort Bloomberg Natural Gas (KOLD) has a higher volatility of 22.91% compared to Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP) at 16.62%. This indicates that KOLD's price experiences larger fluctuations and is considered to be riskier than DRIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.