ProShares Ultra Bloomberg Natural Gas

BOIL

Market cap $131M

Late January brought snow, ice, and single-digit to sub-zero temperatures throughout much of the United States. In advance of that, several energy stocks rallied hard, particularly those tied to natural gas.

USAR-linked leveraged ETFs soared last week as rare-earth stocks jumped, while natural gas and gold plays surged amid tariffs and winter shocks.

ProShares Ultra Bloomberg Natural Gas ETF and its inverse ProShares UltraShort Bloomberg Natural Gas ETF, better known respectively as BOIL and KOLD, offer 2x leveraged exposure to natural gas futures, suitable only for tactical, short-term trades. Both ETFs are designed for directional momentum plays, not buy-and-hold strategies, due to amplified decay during sideways and volatile markets. Recent natural gas price spikes, driven by a polar vortex and short covering, have made BOIL attractive for leveraged upside, but reversal risk is high.

The ProShares Ultra Bloomberg Natural Gas ETF offers leveraged upside to U.S. natural gas, but magnifies both gains and losses. Natural gas futures have declined over 50% since December highs, while BOIL underperformed, dropping 66.45% in the same period. Cold U.S. weather and rising LNG demand, especially from Europe, could pressure inventories and support a natural gas price recovery.

When a leveraged natural gas ETF drops 53% in a year, most investors flee. But that brutal decline in ProShares Trust II (NYSEARCA:BOIL) might set up a compelling contrarian play for 2026.

After a muted 2025, natural gas demand is projected to rebound in 2026, and these three ETFs offer diversified ways to position for the recovery.

Top Performing Leveraged/Inverse ETFs Last Week These were last week's top performing leveraged and inverse ETFs. Note that because of leverage, these kinds of funds can move quickly.

ProShares Ultra Bloomberg Natural Gas ETF offers 2x daily exposure to natural gas futures, appealing to active traders seeking amplified volatility. BOIL is best used for short-term trades, due to significant risks, including value decay, compounding effects, and high volatility in natural gas prices. Long-term natural gas price support may come from increased domestic power plant demand and international trade agreements, but BOIL is not recommended for buy and hold.

Top Performing Leveraged/Inverse ETFs Last Week These were last week's top performing leveraged and inverse ETFs. Note that because of leverage, these kinds of funds can move quickly.

Top Performing Leveraged/Inverse ETFs Last Week These were last week's top performing leveraged and inverse ETFs. Note that because of leverage, these kinds of funds can move quickly.