OILD vs. BOIL
OILD (MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs) and BOIL (ProShares Ultra Bloomberg Natural Gas) are both exchange-traded funds - OILD is a Inverse Equities fund tracking the Solactive MicroSectors Oil & Gas Exploration & Production Index (-300%), while BOIL is a Oil & Gas fund tracking the Bloomberg Natural Gas Subindex. Both are passively managed. Over the past 3 years, OILD returned -43.16%/yr vs -67.34%/yr for BOIL. Their -0.23 correlation means they have often moved in opposite directions in the past. OILD charges 0.95%/yr vs 1.31%/yr for BOIL.
Performance
OILD vs. BOIL - Performance Comparison
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Returns By Period
In the year-to-date period, OILD achieves a -63.45% return, which is significantly lower than BOIL's -54.83% return.
OILD
- 1D
- 4.21%
- 1M
- -28.89%
- 6M
- -48.67%
- YTD
- -63.45%
- 1Y
- -71.00%
- 3Y*
- -43.16%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -59.00%
BOIL
- 1D
- 0.83%
- 1M
- -21.75%
- 6M
- -48.58%
- YTD
- -54.83%
- 1Y
- -71.17%
- 3Y*
- -67.34%
- 5Y*
- -70.47%
- 10Y*
- -59.03%
- ALL TIME*
- -57.91%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $85.90M | $98.92M | $103.64M | |
| $2.57M | $2.54M | $3.90M |
OILD vs. BOIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
OILD MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs | -63.45% | -41.67% | -14.58% | -19.58% | -90.32% | 3.83% |
BOIL ProShares Ultra Bloomberg Natural Gas | -54.83% | -58.98% | -60.75% | -92.00% | -31.85% | -58.50% |
Correlation
The correlation between OILD and BOIL is -0.26, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.26 |
Correlation (3Y) Balances recent behavior with more history. | -0.20 |
Correlation (All Time) Calculated using the full available price history since Nov 9, 2021 | -0.23 |
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Return for Risk
OILD vs. BOIL — Risk / Return Rank
OILD
BOIL
OILD vs. BOIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs (OILD) 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.
| OILD | BOIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.48 | ||
| Sortino ratioReturn per unit of downside risk | -1.54 | ||
| Omega ratioGain probability vs. loss probability | 0.77 | 0.91 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | -0.95 | -0.92 | -0.04 |
| Martin ratioReturn relative to average drawdown | -1.43 | -1.40 | -0.03 |
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Drawdowns
OILD vs. BOIL - Drawdown Comparison
The maximum OILD drawdown since its inception was -98.90%, roughly equal to the maximum BOIL drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for OILD and BOIL.
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Drawdown Indicators
| OILD | BOIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.90% | -100.00% | +1.10% |
Max Drawdown (1Y)Largest decline over 1 year | -74.53% | -77.68% | +3.15% |
Max Drawdown (3Y)Largest decline over 3 years | -85.42% | -97.48% | +12.06% |
Max Drawdown (5Y)Largest decline over 5 years | — | -99.93% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -99.99% | — |
Current DrawdownCurrent decline from peak | -98.81% | -100.00% | +1.19% |
Average DrawdownAverage peak-to-trough decline | -88.91% | -93.63% | +4.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 49.79% | 51.01% | -1.22% |
Volatility
OILD vs. BOIL - Volatility Comparison
MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs (OILD) has a higher volatility of 20.15% compared to ProShares Ultra Bloomberg Natural Gas (BOIL) at 18.98%. This indicates that OILD's price experiences larger fluctuations and is considered to be riskier 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
| OILD | BOIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 20.15% | 18.98% | +1.17% |
Volatility (6M)Calculated over the trailing 6-month period | 50.57% | 88.59% | -38.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 63.47% | 110.74% | -47.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 79.07% | 118.94% | -39.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 79.07% | 101.64% | -22.57% |
OILD vs. BOIL - Expense Ratio Comparison
OILD has a 0.95% expense ratio, which is lower than BOIL's 1.31% expense ratio.
Dividends
OILD vs. BOIL - Dividend Comparison
Neither OILD nor BOIL has paid dividends to shareholders.
Frequently Asked Questions
OILD and BOIL have a correlation of -0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OILD has higher volatility (20.15%) compared to BOIL (18.98%). In terms of maximum drawdown, OILD dropped -98.90% vs BOIL's -100.00%.
On 3-year performance, OILD leads with -43.16% vs -67.34% for BOIL. On fees, OILD is cheaper at 0.95% per year. On volatility, BOIL has been the lower-risk option at 18.98%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, OILD has performed better with a -43.16% return vs -67.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
OILD is cheaper with a 0.95% expense ratio, compared with 1.31% for BOIL.
OILD and BOIL have nearly identical dividend yields, around 0.00%.
OILD is categorized as Inverse Equities, while BOIL is Oil & Gas. OILD tracks Solactive MicroSectors Oil & Gas Exploration & Production Index (-300%), while BOIL tracks Bloomberg Natural Gas Subindex. They also come from different issuers: REX and ProShares. Their fees differ too: 0.95% for OILD and 1.31% for BOIL.
BOIL currently has the higher Sharpe Ratio (-0.65 vs -1.12), 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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