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KOLDProShares UltraShort Bloomberg Natural Gas

Take a bet14y track recordRanked #123 of 949 in this goal

Seeks daily investment results, before fees and expenses, equal to two times the inverse (-2x) of the daily performance of the Bloomberg Natural Gas Subindex.

By ProShares · Launched 2011

Annual Cost

1.43%

#5,670 of 5,861 · expensive

Fund Size

$132M

#2,739 of 5,861 · mid-size

Return (1Y)Goal

-8.7%

Track Record

14 years

#912 of 5,861 · established

Performance

Total-return NAV · USD
Growth of $10,000
$10,363+3.6%

Total-return NAV, USD. Net of fund fees, before tax.

What's inside

How Beacon categorizes this fund

Asset class

Commodity

Strategy

Inverse

Index tracked

Bloomberg Natural Gas Subindex

What it actually holds

By weight

Asset allocation

Other
59.3%
Cash
40.7%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
110.4%High

Year-on-year price swings

Max drawdown
-99.5%Severe

Worst peak-to-trough loss

Sharpe (3Y)
0.51Decent risk-adjusted returns
Sortino (3Y)
0.73Moderate downside risk

Listing

Exchange
NYSE Arca

Full fund details

Objective
Seeks daily investment results, before fees and expenses, equal to two times the inverse (-2x) of the daily performance of the Bloomberg Natural Gas Subindex.
Strategy
To achieve its investment objective, the fund intends to invest in financial instruments such as futures contracts, swap agreements, and other derivatives that provide exposure to its benchmark, while also engaging in daily rebalancing to maintain its targeted exposure.
Inception date
October 4, 2011
Fund family
ProShares

Our take

Structural notes on how this fund behaves. Read our guide on the 6 warning signs.

Inverse
Warning

You can be right and still lose

This fund returns the opposite of its benchmark's daily move, then resets. Hold it longer and the daily compounding takes over: the market can move your way over a week and you still finish down. It works as a one-day hedge and nothing beyond that.

Sources: Cheng & Madhavan, 'The Dynamics of Leveraged and Inverse ETFs' (2009)

Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More

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Data updated on 2026-08-04