WXET vs. KOLD

Last updated Jul 14, 2026

WXET (Teucrium 2x Daily Wheat ETF) and KOLD (ProShares UltraShort Bloomberg Natural Gas) are both exchange-traded funds - WXET is a Leveraged Commodities fund actively managed by Teucrium, while KOLD is a Oil & Gas fund tracking the Bloomberg Natural Gas Subindex. WXET is actively managed, while KOLD is passively managed. Over the past year, WXET returned 2.11% vs 4.87% for KOLD. At a correlation of -0.13, they often move in opposite directions. Both charge a 0.95% expense ratio.

Performance

WXET vs. KOLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Teucrium 2x Daily Wheat ETF (WXET) and ProShares UltraShort Bloomberg Natural Gas (KOLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WXET achieves a 36.00% return, which is significantly higher than KOLD's -20.67% return.

WXET

• 1D: -1.68%
• 1M: 13.05%
• 6M: 32.83%
• YTD: 36.00%
• 1Y: 2.11%
• 3Y*: —
• 5Y*: —
• 10Y*: —

KOLD

• 1D: 3.78%
• 1M: 18.31%
• 6M: -33.22%
• YTD: -20.67%
• 1Y: 4.87%
• 3Y*: -5.01%
• 5Y*: -33.28%
• 10Y*: -23.00%

*Multi-year figures are annualized to reflect compound growth (CAGR)

WXET vs. KOLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024
WXET Teucrium 2x Daily Wheat ETF	36.00%	-37.99%	-0.40%
KOLD ProShares UltraShort Bloomberg Natural Gas	-20.67%	-17.48%	-24.95%

Correlation

The correlation between WXET and KOLD is -0.11, 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	-0.11
Correlation (All Time) Calculated using the full available price history since Dec 13, 2024	-0.13

Return for Risk

WXET vs. KOLD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

WXET

WXET Risk / Return Rank: 11
WXET Sharpe Ratio Rank: 10
WXET Sortino Ratio Rank: 12
WXET Omega Ratio Rank: 12
WXET Calmar Ratio Rank: 10
WXET Martin Ratio Rank: 10

KOLD

KOLD Risk / Return Rank: 14
KOLD Sharpe Ratio Rank: 10
KOLD Sortino Ratio Rank: 19
KOLD Omega Ratio Rank: 20
KOLD Calmar Ratio Rank: 10
KOLD Martin Ratio Rank: 10

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

WXET vs. KOLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Teucrium 2x Daily Wheat ETF (WXET) and ProShares UltraShort Bloomberg Natural Gas (KOLD). 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.

	WXET	KOLD	Difference
Sharpe ratio: Return per unit of total volatility	0.04	0.04	0.00
Sortino ratio: Return per unit of downside risk	0.45	0.90	-0.45
Omega ratio: Gain probability vs. loss probability	1.05	1.12	-0.07
Calmar ratio: Return relative to maximum drawdown	0.07	0.07	0.00
Martin ratio: Return relative to average drawdown	0.13	0.12	0.00

WXET vs. KOLD - Sharpe Ratio Comparison

The current WXET Sharpe Ratio is 0.04, which is comparable to the KOLD Sharpe Ratio of 0.04. The chart below compares the historical Sharpe Ratios of WXET and KOLD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

WXET vs. KOLD - Drawdown Comparison

The maximum WXET drawdown since its inception was -48.31%, smaller than the maximum KOLD drawdown of -99.45%. Use the drawdown chart below to compare losses from any high point for WXET and KOLD.

Drawdown Indicators

	WXET	KOLD	Difference
Max Drawdown Largest peak-to-trough decline	-48.31%	-99.45%	+51.14%
Max Drawdown (1Y) Largest decline over 1 year	-30.76%	-72.50%	+41.74%
Max Drawdown (3Y) Largest decline over 3 years	—	-84.34%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-97.82%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-99.45%	—
Current Drawdown Current decline from peak	-29.70%	-96.76%	+67.06%
Average Drawdown Average peak-to-trough decline	-30.80%	-69.66%	+38.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.75%	39.68%	-22.93%

Volatility

WXET vs. KOLD - Volatility Comparison

The current volatility for Teucrium 2x Daily Wheat ETF (WXET) is 15.22%, while ProShares UltraShort Bloomberg Natural Gas (KOLD) has a volatility of 19.60%. This indicates that WXET experiences smaller price fluctuations and is considered to be less risky than KOLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WXET	KOLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.22%	19.60%	-4.38%
Volatility (6M) Calculated over the trailing 6-month period	41.40%	93.73%	-52.33%
Volatility (1Y) Calculated over the trailing 1-year period	48.94%	112.06%	-63.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	48.47%	118.90%	-70.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	48.47%	101.74%	-53.27%

WXET vs. KOLD - Expense Ratio Comparison

Both WXET and KOLD have an expense ratio of 0.95%.

Dividends

WXET vs. KOLD - Dividend Comparison

WXET's dividend yield for the trailing twelve months is around 1.77%, while KOLD has not paid dividends to shareholders.

Position	TTM	2025	2024
KOLD ProShares UltraShort Bloomberg Natural Gas	0.00%	0.00%	0.00%
WXET Teucrium 2x Daily Wheat ETF	1.77%	3.57%	0.13%

Frequently Asked Questions

Can I hold both WXET and KOLD in my portfolio?

WXET and KOLD have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WXET or KOLD?

KOLD has higher volatility (19.60%) compared to WXET (15.22%). In terms of maximum drawdown, WXET dropped -48.31% vs KOLD's -99.45%.

Which ETF is better, WXET or KOLD?

On 1-year performance, KOLD leads with 4.87% vs 2.11% for WXET. Both ETFs have the same 0.95% expense ratio. On volatility, WXET has been the lower-risk option at 15.22%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, WXET or KOLD?

Over the 1-year period, KOLD has performed better with a 4.87% return vs 2.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WXET or KOLD?

WXET and KOLD have the same expense ratio: 0.95% per year.

Which ETF pays a higher dividend yield, WXET or KOLD?

WXET has the higher dividend yield at 1.77%, compared with 0.00% for KOLD.

What is the main difference between WXET and KOLD?

WXET is categorized as Leveraged Commodities, while KOLD is Oil & Gas. They also come from different issuers: Teucrium and ProShares.

Which has better risk-adjusted returns?

KOLD currently has the higher Sharpe Ratio (0.04 vs 0.04), 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.