KOLD vs SPY
Comparison between ProShares UltraShort Bloomberg Natural Gas -2x Shares (KOLD, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).
5-Year PerformanceSPY has outperformed KOLD, delivering a return of +13.3% compared to -40.6%
KOLD vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
KOLD vs SPY - Historical Returns
Returns include dividend reinvestment.
KOLD vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | KOLD | SPY |
|---|---|---|
| 2026 | -40.29% | +8.26% |
| 2025 | -16.28% | +18.00% |
| 2024 | -6.65% | +25.59% |
| 2023 | +196.10% | +26.72% |
| 2022 | -87.90% | -18.64% |
| 2021 | -73.27% | +30.52% |
| 2020 | +17.02% | +17.28% |
| 2019 | +78.65% | +31.09% |
| 2018 | -44.23% | -5.24% |
| 2017 | +44.29% | +20.78% |
| 2016 | -52.07% | +13.59% |
| 2015 | +75.01% | +1.31% |
| 2014 | +22.91% | +14.56% |
| 2013 | -36.06% | +29.00% |
| 2012 | +7.38% | +14.17% |
| 2011 | +75.57% | +0.85% |
| 2010 | N/A | +13.14% |
| 2009 | N/A | +22.67% |
| 2008 | N/A | -36.25% |
| 2007 | N/A | +5.32% |
| 2006 | N/A | +13.85% |
| 2005 | N/A | +5.32% |
| 2004 | N/A | +10.75% |
| 2003 | N/A | +24.18% |
| 2002 | N/A | -22.42% |
| 2001 | N/A | -10.13% |
| 2000 | N/A | -8.84% |
| 1999 | N/A | +8.61% |
KOLD vs SPY Drawdown Comparison
The maximum drawdown for KOLD was -99.45%, occurring on Aug 22, 2022. This drawdown has not yet recovered.
The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.
The current KOLD drawdown is -97.42%. The current SPY drawdown is -2.90%.
| Rank | KOLD | SPY |
|---|---|---|
| #1 | -99.45% Jun 25, 2020 - Aug 22, 2022 | -55.20% Oct 9, 2007 - Aug 16, 2012 |
| #2 | -87.03% Mar 3, 2016 - Jun 25, 2020 | -47.50% Mar 24, 2000 - Oct 26, 2006 |
| #3 | -85.48% Apr 19, 2012 - Mar 3, 2016 | -33.70% Feb 19, 2020 - Aug 10, 2020 |
| #4 | -30.56% Jan 19, 2012 - Mar 6, 2012 | -24.50% Jan 3, 2022 - Dec 13, 2023 |
| #5 | -9.69% Nov 16, 2011 - Dec 7, 2011 | -19.34% Sep 20, 2018 - Apr 12, 2019 |
| #6 | -8.31% Mar 12, 2012 - Mar 26, 2012 | -18.76% Feb 19, 2025 - Jun 26, 2025 |
| #7 | -7.76% Dec 30, 2011 - Jan 10, 2012 | -13.02% Jul 20, 2015 - Apr 18, 2016 |
| #8 | -7.63% Oct 7, 2011 - Oct 26, 2011 | -10.10% Jan 26, 2018 - Aug 6, 2018 |
| #9 | -6.87% Oct 27, 2011 - Nov 2, 2011 | -9.44% Sep 2, 2020 - Nov 11, 2020 |
| #10 | -5.16% Mar 30, 2012 - Apr 5, 2012 | -9.30% Jan 19, 2000 - Mar 17, 2000 |
| #11 | -3.30% Dec 19, 2011 - Dec 23, 2011 | -9.05% Jul 19, 2007 - Oct 5, 2007 |
| #12 | -1.99% Dec 12, 2011 - Dec 14, 2011 | -8.88% Jan 27, 2026 - Apr 14, 2026 |
| #13 | -1.95% Apr 5, 2012 - Apr 10, 2012 | -8.41% Jul 16, 2024 - Sep 19, 2024 |
| #14 | -1.84% Dec 7, 2011 - Dec 9, 2011 | -7.35% Sep 14, 2012 - Jan 2, 2013 |
| #15 | -1.51% Nov 7, 2011 - Nov 9, 2011 | -7.27% Sep 18, 2014 - Oct 31, 2014 |
Correlation
Correlation between KOLD and SPY is -0.65 which considered as a moderate negative correlation - the stocks show some tendency to move in opposite directions.
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