UVXY vs. BOIL
UVXY (ProShares Ultra VIX Short-Term Futures ETF) and BOIL (ProShares Ultra Bloomberg Natural Gas) are both exchange-traded funds - UVXY is a Volatility fund tracking the S&P 500 VIX SHORT-TERM FUTURES TR (150%), while BOIL is a Leveraged Commodities fund tracking the Bloomberg Natural Gas Subindex. Both are passively managed. Over the past 10 years, UVXY returned -72.67%/yr vs -56.95%/yr for BOIL. At a correlation of -0.03, they often move in opposite directions. UVXY charges 0.95%/yr vs 1.31%/yr for BOIL.
Performance
UVXY vs. BOIL - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, UVXY achieves a -19.06% return, which is significantly higher than BOIL's -36.77% return. Over the past 10 years, UVXY has underperformed BOIL with an annualized return of -72.67%, while BOIL has yielded a comparatively higher -56.95% annualized return.
UVXY
- 1D
- -0.24%
- 1M
- -22.10%
- YTD
- -19.06%
- 6M
- -37.37%
- 1Y
- -72.91%
- 3Y*
- -64.55%
- 5Y*
- -67.90%
- 10Y*
- -72.67%
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%
UVXY vs. BOIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UVXY ProShares Ultra VIX Short-Term Futures ETF | -19.06% | -65.32% | -50.90% | -87.70% | -44.81% | -88.33% | -17.38% | -84.23% | 60.10% | -94.17% |
BOIL ProShares Ultra Bloomberg Natural Gas | -36.77% | -58.98% | -60.75% | -92.00% | -31.85% | 23.84% | -74.74% | -67.70% | -20.55% | -65.72% |
Correlation
The correlation between UVXY and BOIL is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.05 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.04 |
Correlation (All Time) Calculated using the full available price history since Oct 7, 2011 | -0.03 |
The correlation between UVXY and BOIL shifts across timeframes, from -0.05 (5 years) to 0.21 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
UVXY vs. BOIL — Risk / Return Rank
UVXY
BOIL
UVXY vs. BOIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra VIX Short-Term Futures ETF (UVXY) 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.
| UVXY | BOIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.21 | ||
| Sortino ratioReturn per unit of downside risk | -0.82 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 0.90 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | -0.97 | -0.92 | -0.05 |
| Martin ratioReturn relative to average drawdown | -1.31 | -1.26 | -0.06 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| UVXY | BOIL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.87 | -0.66 | -0.21 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.66 | -0.55 | -0.11 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.64 | -0.56 | -0.08 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.68 | -0.61 | -0.07 |
Drawdowns
UVXY vs. BOIL - Drawdown Comparison
The maximum UVXY drawdown since its inception was -100.00%, roughly equal to the maximum BOIL drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for UVXY and BOIL.
Loading charts...
Drawdown Indicators
| UVXY | BOIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -100.00% | 0.00% |
Max Drawdown (1Y)Largest decline over 1 year | -75.22% | -80.85% | +5.63% |
Max Drawdown (3Y)Largest decline over 3 years | -95.45% | -96.86% | +1.41% |
Max Drawdown (5Y)Largest decline over 5 years | -99.68% | -99.91% | +0.23% |
Max Drawdown (10Y)Largest decline over 10 years | -100.00% | -99.99% | -0.01% |
Current DrawdownCurrent decline from peak | -100.00% | -100.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -98.55% | -93.59% | -4.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 55.63% | 59.20% | -3.57% |
Volatility
UVXY vs. BOIL - Volatility Comparison
The current volatility for ProShares Ultra VIX Short-Term Futures ETF (UVXY) is 11.77%, while ProShares Ultra Bloomberg Natural Gas (BOIL) has a volatility of 23.95%. This indicates that UVXY 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.
Loading charts...
Volatility by Period
| UVXY | BOIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.77% | 23.95% | -12.18% |
Volatility (6M)Calculated over the trailing 6-month period | 62.64% | 107.61% | -44.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 84.42% | 113.64% | -29.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 103.85% | 118.89% | -15.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 113.82% | 101.81% | +12.01% |
UVXY vs. BOIL - Expense Ratio Comparison
UVXY has a 0.95% expense ratio, which is lower than BOIL's 1.31% expense ratio.
Dividends
UVXY vs. BOIL - Dividend Comparison
Neither UVXY nor BOIL has paid dividends to shareholders.
Frequently Asked Questions
UVXY and BOIL have a correlation of 0.21, 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 UVXY (11.77%). In terms of maximum drawdown, UVXY dropped -100.00% vs BOIL's -100.00%.
On 10-year performance, BOIL leads with -56.95% vs -72.67% for UVXY. On fees, UVXY is cheaper at 0.95% per year. On volatility, UVXY has been the lower-risk option at 11.77%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, BOIL has performed better with a -56.95% return vs -72.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UVXY is cheaper with a 0.95% expense ratio, compared with 1.31% for BOIL.
UVXY and BOIL have nearly identical dividend yields, around 0.00%.
UVXY is categorized as Volatility, while BOIL is Leveraged Commodities. UVXY tracks S&P 500 VIX SHORT-TERM FUTURES TR (150%), while BOIL tracks Bloomberg Natural Gas Subindex. Their fees differ too: 0.95% for UVXY and 1.31% for BOIL.
BOIL currently has the higher Sharpe Ratio (-0.66 vs -0.87), 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.
Find the right allocation for UVXY and BOIL
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer