ETF Evaluator:
ProShares Ultra Bloomberg Natural Gas ()
Follow This ETF
(as of Aug 26)
Best Performing in Trading--Leveraged Commodities Over the Last Year
| 87.6% | DB Commodity Double Long ETN (DYYXF) |
| 86.2% | USCF Daily Target 2X Copper Index ETF (CPXR) |
| 75.2% | DB Base Metals Double Long ETN (BDDXF) |
| 55.3% | ProShares Ultra Bloomberg Crude Oil (UCO) |
| 32.9% | DB Gold Double Long ETN (DGP) |
Risk
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Risk
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ETF Details
ProShares Ultra Bloomberg Natural Gas Overview
ProShares Ultra Bloomberg Natural Gas (BOIL) is an actively managed Miscellaneous Trading--Leveraged Commodities exchange-traded fund (ETF). ProShares launched the ETF in 2011.
The investment seeks daily investment results, before fees and expenses, that correspond to two times (2x) the daily performance of the Bloomberg Natural Gas SubindexSM.
The fund seeks to meet its investment objective by investing normally in Natural Gas futures contracts. It may also invest in swaps if the market for a specific futures contract experiences emergencies (e.g., natural disaster, terrorist attack, or an act of God) or disruptions (e.g., a trading halt or a flash crash) or in situations where the Sponsor deems it impractical or inadvisable to buy or sell futures contracts (such as during periods of market volatility or illiquidity).
About ProShares Ultra Bloomberg Natural Gas (BOIL)
There are 1 members of the management team with an average tenure of 14.83 years: Management Team (2011). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: Bloomberg Sub Natural Gas TR USD index with a weighting of 200%. ProShares Ultra Bloomberg Natural Gas has 5 securities in its portfolio. The top 10 holdings constitute 81.6% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
ProShares Ultra Bloomberg Natural Gas is part of the Other global asset class and is within the Miscellaneous ETF group. ProShares Ultra Bloomberg Natural Gas has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). ProShares Ultra Bloomberg Natural Gas has 37.7% of the portfolio in cash.
Assets Under Management
The fund has $368 million in total assets, which is above the $208 million average for the Trading--Leveraged Commodities category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
BOIL Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The ProShares Ultra Bloomberg Natural Gas expense ratio is high compared to funds in the Trading--Leveraged Commodities category. ProShares Ultra Bloomberg Natural Gas has an expense ratio of 1.39%, which is 42% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. ProShares Ultra Bloomberg Natural Gas has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 0% for the Trading--Leveraged Commodities category.
Recently, in the month of July 2026, ProShares Ultra Bloomberg Natural Gas returned -26.6%, which earned it a grade of F, as the Trading--Leveraged Commodities category had an average return of 5.5%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
ProShares Ultra Bloomberg Natural Gas has a trailing yield of 0.00%, which is below the 0.36% category average.
The fund normally distributes its income none.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
ProShares Ultra Bloomberg Natural Gas Grades
Year to date, the ETF has returned -55.0%, 56.3 percentage points worse than the category, which translates into a grade of F. The fund has returned -71.9% over the past year (grade of F), -68.0% over the past three years (grade of F) and -69.9% per year over the past five years (grade of F) and -59.5% per year over the past 10 years (grade of F).
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BOIL Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| BOIL Return (NAV) | -26.6% | -22.0% | -71.9% | -68.0% | -69.9% | -59.5% |
| BOIL Return (Price) | -25.2% | -20.8% | -71.3% | -67.9% | -69.8% | -59.4% |
| NAV +/- Price Return | -1.379% | -1.139% | -0.580% | -0.052% | -0.020% | -0.087% |
| Trading--Leveraged Commodities Avg | 5.5% | -19.5% | 28.0% | 14.8% | 1.1% | -1.8% |
| BOIL Grade (NAV) | F | C | F | F | F | F |
| +/- Category (NAV) | -32.1% | -2.5% | -99.9% | -82.8% | -71.0% | -57.7% |
| BOIL Tax-Cost Ratio | na | na | 0.0% | 0.0% | 0.0% | 0.0% |
BOIL Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| BOIL Return (NAV) | -55.0% | -58.9% | -61.6% | -92.1% | -29.0% | 21.7% | -75.0% | -66.8% | -22.5% | -65.4% | 1.5% |
| BOIL Return (Price) | -55.2% | -59.0% | -60.7% | -92.0% | -31.9% | 23.8% | -74.7% | -67.7% | -20.6% | -65.7% | 2.6% |
| NAV +/- Price Ret | 0.004% | 0.002% | -0.014% | -0.002% | 0.099% | 0.096% | -0.003% | 1.4% | -8.8% | 0.5% | 72.8% |
| Trading--Leveraged Commodities Avg | 1.3% | 127.6% | 7.1% | -15.9% | -5.5% | 30.6% | -2.4% | 11.1% | -23.5% | 5.2% | 14.8% |
| BOIL Grade (NAV) | F | F | F | F | F | C | F | F | C | F | F |
| +/- Category | -56.3% | -186.5% | -68.7% | -76.2% | -23.5% | -8.8% | -72.6% | -77.9% | 1.0% | -70.5% | -13.3% |
| Risk Measures | |
| Beta: | 2.88 |
| R-Squared: | 16% |
| Standard Deviation: | 98.2% |
| Category Risk Index: | 1.78 |
| Category Risk Rating: | High |
| Total Risk Index: | 8.01 |
| Total Risk Rating: | High |
| Portfolio Characteristics | |
| Yield: | 0.0% |
| Total Assets: | $ 369 Mil |
| Share Class Assets: | $ 369 Mil |
| Turnover: | na |
| Expense Ratio: | 1.39% |
| Index Fund: | No |
| Index Tracked: | Bloomberg Sub Natural Gas TR USD |
| Index Weighting: | 200% |
| Leveraged: | Yes |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | |
| Income Distribution Frequency: | None |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 14.8 years | |||
| Average Tenure: 14.8 years | |||
| Managers (Year): Team Management (2011) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 5 |
| % in Top 10 Holdings: | 81.6% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 62.3% |
| Cash: | 37.7% |
Purchase Information
| Legal Structure: | Partnership (3C1) |
| Fund Family: | ProShares |
| Phone Number: | 240-497-6400 |
| Website: | www.proshares.com |
| Inception Date: | October 4, 2011 |
Expenses and Fees
| Expense Ratio (%): | 1.39% (Rating: High) |
| Category Average Expense Ratio (%): | 0.98% |
