ProShares Ultra Bloomberg Natural Gas

BOIL

Market cap $69.7M

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.

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.

BOIL aims to deliver 2x daily natural gas price movements but suffers from significant value decay over time due to fees and compounding. Long-term U.S. energy export trends are unlikely to benefit BOIL, as gains require an immediate, sharp rise in natural gas prices. BOIL is unsuitable for individual investors; its structure and price decay make it more appropriate for short-term institutional trading.

Risk is in vogue with ETF investors again. Signs of speculative fervor are increasingly clear — but are investors willing to jump in?