UNL vs. BOIL
Compare and contrast key facts about United States 12 Month Natural Gas Fund LP (UNL) and ProShares Ultra Bloomberg Natural Gas (BOIL).
UNL and BOIL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. UNL is a passively managed fund by Concierge Technologies that tracks the performance of the 12 Month Natural Gas. It was launched on Nov 18, 2009. BOIL is a passively managed fund by ProShares that tracks the performance of the Dow Jones-UBS Natural Gas Subindex (200%). It was launched on Oct 4, 2011. Both UNL and BOIL are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
UNL vs. BOIL - Performance Comparison
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UNL vs. BOIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UNL United States 12 Month Natural Gas Fund LP | -6.50% | -9.67% | -4.78% | -50.20% | 47.01% | 54.42% | -9.54% | -18.78% | 12.53% | -21.47% |
BOIL ProShares Ultra Bloomberg Natural Gas | -29.61% | -58.98% | -60.75% | -92.00% | -31.85% | 23.84% | -74.74% | -67.70% | -20.55% | -65.72% |
Returns By Period
In the year-to-date period, UNL achieves a -6.50% return, which is significantly higher than BOIL's -29.61% return. Over the past 10 years, UNL has outperformed BOIL with an annualized return of -2.45%, while BOIL has yielded a comparatively lower -55.56% annualized return.
UNL
- 1D
- -1.99%
- 1M
- 0.15%
- YTD
- -6.50%
- 6M
- -11.42%
- 1Y
- -32.68%
- 3Y*
- -15.85%
- 5Y*
- -2.73%
- 10Y*
- -2.45%
BOIL
- 1D
- 0.75%
- 1M
- -1.95%
- YTD
- -29.61%
- 6M
- -46.25%
- 1Y
- -81.20%
- 3Y*
- -64.52%
- 5Y*
- -62.47%
- 10Y*
- -55.56%
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UNL vs. BOIL - Expense Ratio Comparison
UNL has a 0.90% expense ratio, which is lower than BOIL's 1.31% expense ratio.
Return for Risk
UNL vs. BOIL — Risk / Return Rank
UNL
BOIL
UNL vs. BOIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for United States 12 Month Natural Gas Fund LP (UNL) 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.
| UNL | BOIL | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.84 | -0.68 | -0.16 |
Sortino ratioReturn per unit of downside risk | -1.06 | -1.00 | -0.06 |
Omega ratioGain probability vs. loss probability | 0.86 | 0.88 | -0.01 |
Calmar ratioReturn relative to maximum drawdown | -0.87 | -0.99 | +0.12 |
Martin ratioReturn relative to average drawdown | -1.41 | -1.33 | -0.09 |
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
| UNL | BOIL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.84 | -0.68 | -0.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.07 | -0.53 | +0.46 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.07 | -0.55 | +0.47 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.39 | -0.61 | +0.22 |
Correlation
The correlation between UNL and BOIL is 0.94, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
UNL vs. BOIL - Dividend Comparison
Neither UNL nor BOIL has paid dividends to shareholders.
Drawdowns
UNL vs. BOIL - Drawdown Comparison
The maximum UNL drawdown since its inception was -88.52%, smaller than the maximum BOIL drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for UNL and BOIL.
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Drawdown Indicators
| UNL | BOIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.52% | -100.00% | +11.48% |
Max Drawdown (1Y)Largest decline over 1 year | -36.28% | -81.53% | +45.25% |
Max Drawdown (5Y)Largest decline over 5 years | -77.17% | -99.88% | +22.71% |
Max Drawdown (10Y)Largest decline over 10 years | -77.17% | -99.98% | +22.81% |
Current DrawdownCurrent decline from peak | -87.78% | -100.00% | +12.22% |
Average DrawdownAverage peak-to-trough decline | -73.19% | -93.51% | +20.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.58% | 60.91% | -38.33% |
Volatility
UNL vs. BOIL - Volatility Comparison
The current volatility for United States 12 Month Natural Gas Fund LP (UNL) is 11.08%, while ProShares Ultra Bloomberg Natural Gas (BOIL) has a volatility of 29.44%. This indicates that UNL 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
| UNL | BOIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.08% | 29.44% | -18.36% |
Volatility (6M)Calculated over the trailing 6-month period | 32.23% | 109.34% | -77.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.10% | 120.51% | -81.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 41.68% | 118.61% | -76.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.81% | 101.94% | -68.13% |