KOLD
ProShares UltraShort Bloomberg Natural Gas -2x Shares
7월 28일 4:00 PM ET (한국 7/29 05:00)
$30.93
+1.75 ▲ +6.00%
🌙 7월 28일 7:53 PM ET (한국 7/29 08:53)
$30.83
-0.10 ▼ -0.32%
KOLD ETF is analyzed across 10 metrics including expense ratio, holdings, sector allocation, dividends, RSI, and MACD.
Total Expense Ratio
0.95%
Annual operating cost
Net Assets (AUM)
$103M
약 1418억원
Holdings
4 items
Dividend Yield
-
Management Style
Passive
| Category | Commodities & Metals - Leveraged / Inverse | Asset Type | Commodities & Metals | Return% 1Y | -2.34% | Total Holdings | 4 | Perf Week | 11.58% |
| ETF Type | Global Commodities & Metals | Active/Passive | Passive | Return% 3Y | 1.45% | AUM | $103M | Perf Month | 42.01% |
| Expense | 0.95% | NAV | $28.88 | Return% 5Y | -31.94% | 52W High | -37.48% | Perf Quarter | 16.32% |
| Dividend TTM | - | Div Gr. 3/5Y | - | Return% 10Y | -22.67% | 52W Low | 130.13% | Perf Half Y | 67.1% |
| Flows% 1M | -42.18% | Flows% YTD | -71.2% | Return% SI | -11.62% | Volatility(W/M) | 3.95% 4.46% | Perf YTD | -12.31% |
| SMA20 | 17.88% | SMA50 | 27.11% | SMA200 | 16.33% | RSI (14) | 70.09 | Beta | -0.17 |
| IPO | 2011/10/6 | Prev Close | $29.18 | Perf Year | 0.49% | Avg Volume | 3.15M | Price | $30.93 |
ProShares UltraShort Bloomberg Natural Gas -2x Shares (KOLD) Investment Analysis
ETF Overview
ProShares UltraShort Bloomberg Natural Gas -2x Shares · Commodities & Metals - Leveraged / Inverse
인버스형 — 지수 하락에 베팅 (단기 헤지용 · 고위험)
2011년 상장, 15년 운영 중.
ProShares UltraShort Bloomberg Natural Gas는 수수료 차감 전 기준으로 하루 동안 Bloomberg Natural Gas Subindex 성과의 -2배(일일 인버스)에 해당하는 일일 투자 성과를 목표로 합니다. 천연가스 선물 계약에 투자하여 목표를 달성하며, 특정 선물 계약 시장에 비상 상황·혼란(거래 중단, 플래시 크래시 등)이 발생하거나 스폰서가 선물 매매가 비현실적·부적절하다고 판단하는 경우(변동성·유동성 부족 기간 등) 스왑에도 투자할 수 있습니다.
📘 KOLD ETF 자세히 알아보기 →commodityfuturesnatural-gasleverage
- 규모
- $103M 약 1418억원
- 운용사
- ProShares
- 운용 방식
- 패시브 (지수 추종)
- 상장일
- 2011년
Cost Efficiency
Annual Expense Ratio · Category Rank · Long-Term Cost Impact
Low-cost ETF — 0.95% annually
상위 25% within Commodities & Metals - Leveraged / Inverse. For a ₩100M investment, roughly ₩950,000/year.
Effective Annual Expense Ratio (Net Expense Ratio)
상위 25%0.95%
My positionTop 25%
Low range Average High range
Actual Cost Simulation by Investment Amount
$100.0M
Annual Expense Ratio
$950K
Same as category average
Category Median Annual Cost
$950K
Based on expense ratio of 0.95%
10-Year Cumulative Expense Ratio (Long-term simulation assuming 7% annual market growth)
$16.8M
17.4% of returns you could have earned goes to the fund manager due to fees
Because the expense ratio takes a slice of your assets every year, costs compound over 10 years and result in far greater losses than a simple sum (annual fee × 10). The 7% annual return assumption is based on the S&P 500's long-term average.
Defaults shown against $100K baseline portfolio. Adjust the slider to update the amount in real time.
Cheaper alternatives in the same category
* A lower fee does not necessarily mean a better ETF. Consider the tracked index, liquidity, and tax treatment as well.
Long-Term Performance
1-year · 3-year · 5-year · 10-year returns · vs. benchmark · drawdown defense
Lower-tier returns in its category
Long-term returns trail the category average by a wide margin.-20.1%p vs. benchmark (SPY) over 1Y.
ℹ️ The "1Y·3Y·5Y·10Y" periods below represent annualized returns (CAGR) measured backward from today. Example: "3Y +12%" means the investment grew at a compounded 12% per year over the past three years.
↩️ Inverse ETF — for short-term hedging only
These products bet on declines in the underlying index. By construction, "if the index rises, the ETF falls," so it is not unusual to see a negative annualized return (−). The daily reset mechanism causes significant compounding decay over longer holding periods. Long-term holding is not recommended outside of hedging or short-term trading purposes.
If you had invested 10 year(s) ago
$100.0M
Today's value
$7.6M
→
Total loss
$-92,353,193
Annualized -22.7%
1 Year
2025.07 ~ 2026.07
Annualized -2.34%
평균권Trailed the benchmark by 20.1%p annually
My positionMid-range
Low range Average High range
3 Years
2023.07 ~ 2026.07
Annualized +1.45% Cumulative +4.4%
하위 25%Trailed the benchmark by 17.8%p annually
My positionBottom 25%
Low range Average High range
5 Years
2021.07 ~ 2026.07
Annualized -31.94% Cumulative -85.4%
하위 5%Trailed the benchmark by 45.2%p annually
My positionBottom 5%
Low range Average High range
10Y
2016.07 ~ 2026.07
Annualized -22.67% Cumulative -92.4%
하위 5%Trailed the benchmark by 37.6%p annually
My positionBottom 5%
Low range Average High range
10Y Cumulative Total Return Curve
2016-07-29 start, based on a 100M KRW base — read the curve values directly as units of 100M KRW (e.g., 308 → 3.08억 / 308M KRW). Both this ETF and the benchmark are rebased to 100 on the same start date for comparison.
KOLD · Price Only KOLD · Price + Cumulative Dividends KOLD · Dividend Reinvested S&P 500 (SPY)
0
150
300
450
ℹ️ Price Only: Excludes dividends and tracks pure stock price only. Covered-call and high-dividend ETFs often show a flat or declining line on this view, which is meaningful from a "principal preservation" standpoint. Price + Cumulative Dividend: Share count stays the same and received dividends are accumulated as cash. Closely matches your actual account total assets. Reinvested: Dividends are immediately used to buy additional shares (adjClose-based, the industry standard for total return). The wider the gap between the three lines, the easier it is to gauge the effectiveness of the dividend strategy.
Annual Return Comparison
ETF returns vs S&P 500 (SPY) by calendar year
KOLD S&P 500 (SPY)
+200%
0%
−200%
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026 YTD
💡 Inverse ETFs are the mirror image — positive returns in years the benchmark falls, losses in years it rises.
ℹ️ Returns from January 1 to December 31 of each year. The current year (2026) column is dimmed to indicate YTD (incomplete). If blue is higher than gray, the ETF outperformed the benchmark in that year.
Win rate vs S&P 500 (SPY)
3 / 9Y
Lags behind benchmark (33%)
+ 2026 YTD: Behind (-17.0% vs 8.7%)
2017 ✓
2018 ✗
2019 ✓
2020 ✗
2021 ✗
2022 ✗
2023 ✓
2024 ✗
2025 ✗
2026 ✗ YTD
💡 Inverses only win in down years — not suitable as a long-term win-rate metric.
ℹ️ Number of winning years versus S&P 500 (SPY) within a completed calendar year (1/1–12/31). The current year (YTD) is reported separately.
Downside Capture
16%
Falls less than the benchmark in drawdowns — strong downside protection
<85% (Defend) 85~110% (Track) >110% (Lag)
💡 Inverses rise when the benchmark falls and fall when it rises — the usual interpretation of this metric is reversed.
ℹ️ Average % drop of this ETF when S&P 500 (SPY) is −1%. Based on daily returns over the past 3 years (only days where the benchmark is negative).
Risk Profile
Volatility · Beta · Max Drawdown · Sharpe · Drawdown Recovery History
Overall Risk Grade
High Risk
These products move opposite to the market. The longer you hold them, the more losses accumulate over time, making them suitable only for short-term hedging.
↩️ Inverse ETFs — Negative Beta is normal
Because they move opposite to the index, a negative Beta or one near −1 is expected. Volatility is similar to the underlying index. These are intended for short-term hedging and are unsuitable for long-term holding.
Beta (market sensitivity)
평균권-0.17
If the market rises +10% -1.7%
If the market falls -10% +1.7%
My positionMid-range
Low range Average High range
ℹ️ A beta of 1.0 moves in line with the market. Above 1 means it moves more than the market; below 1 means less.
Average daily range (last 1 month)
평균권±4.46%
S&P 500 typically ±1.0~1.3% · Bond funds ±0.3% · Leveraged ETFs ±3% or more
Annual volatility trend (past 10 years)
ℹ️ This ETF's average daily price swing. 1% means "on average, moves about ±1% per day." The rolling curve below shows the annualized volatility (long-term standard measure) over time.
Max Drawdown · Past 10 years
-99.5%
2015-08-03 Worst -99% 2026-07-01
ℹ️ Maximum drawdown is the largest peak-to-trough decline in the past. It represents the worst-case loss a long-term investor must psychologically endure.
Sharpe Ratio (Risk-Adjusted Return)
-0.21
Poor — Underperforms the risk-free rate
ℹ️ Annualized return minus the risk-free rate (3% annualized), divided by annualized volatility. A value above 1.0 is generally considered good risk-adjusted performance.
Estimated Monthly Maximum Loss (VaR 95%)
-40.2%
Historically, monthly losses exceeding this figure occurred only5%of the time.
ℹ️ A statistical estimate meaning "with 95% probability, monthly losses will not exceed this amount." The remaining 5% corresponds to crisis-level events such as financial crises or pandemics.
Overall investment appeal
What this ETF fits best — strengths, weaknesses, and target investor profile
Designed for short-term trading Not recommended for long-term investing, but suitable for short-term trading and hedging.
⚠️ Short-term hedge that moves opposite to the market. Time decay causes losses to accumulate on long holds.
🎯 목적별 적합도
내가 이 ETF를 어떤 목적으로 활용할 수 있는지 확인하세요.
부적합
부적합
매우 적합
매우 낮음
이런 분에게 어울려요
For short-term hedging and downside bets
✅ 강점
- 💸Low cost — 0.95% annually
⚠️ 약점·주의사항
- 📈Long-term returns are well below peers
- 🎯Trails benchmark by -45.2%p annually
- 🔄Inverse — time decay losses accumulate the longer you hold
Category Peers
Category: Commodities & Metals - Leveraged / Inverse
같은 카테고리 6종 중 AUM 3/6위 · 보수율 2/6위
카테고리: Commodities & Metals - Leveraged / Inverse
ℹ️ 왜 비교해야 하나요?
같은 카테고리 ETF끼리는 보수율·규모(AUM)·배당률을 비교해 볼 가치가 있어요. 보수율은 낮을수록 장기 수익에 유리하고, AUM이 크면 운용 안정성이 높아요. ▲ 표시는 KOLD보다 유리, ▼ 표시는 KOLD보다 불리를 뜻해요.
| 티커 | ETF명 | 보수율 | AUM | 보유종목 | 배당률 | YTD | 1년 |
|---|---|---|---|---|---|---|---|
| KOLD | ProShares UltraShort Bloomberg Natural Gas -2x Shares | 0.95% | $103M | 4 | - | -12.31% | +0.49% |
| ProShares UltraShort Bloomberg Crude Oil -2x Shares | 0.95% | $722M ▲ | 6 | - | - | -54.22% ▼ | |
| ProShares UltraShort Gold -2x Shares | 0.95% | $127M ▲ | 7 | - | - | -39.77% ▼ | |
| ProShares UltraShort Silver -2x Shares | 0.95% | $64M ▼ | 7 | - | - | -85.99% ▼ | |
| MicroSectors Gold -3X Inverse Leveraged ETNs | 0.95% | $20M ▼ | - | - | - | -62.16% ▼ | |
| DB Gold Short ETN | 0.75% ▲ | $2M ▼ | - | - | - | -19.18% ▼ |
AUM 내림차순 정렬 · ▲ KOLD보다 유리 · ▼ KOLD보다 불리
Leveraged & Covered Call ETFs on the Same Theme
ETFs that approach the same theme with a different strategy
20 ETFs tracking the same theme as KOLD using leveraged or covered call strategies (Leverage 8 · Inverse 5 · Covered Call 7)
Not direct derivatives of KOLD, but ETFs that cover the same theme via a different strategy.
ℹ️ Which ETFs are included?
Among ETFs whose theme (category or sector) overlaps with KOLD, some use special strategies. Leveraged ETFs aim for 2–3× the daily move, Inverse ETFs seek opposite-direction returns, and Covered Call ETFs generate monthly income from option premiums.
⚠️ Caution: Long-Term Holding
Leveraged and inverse ETFs track only the daily return. With high volatility, holding them for longer periods causes cumulative volatility decay—returns diverge further from the underlying index. They are meant for short-term trading.
Leverage 8 ETFs that amplify the same theme by 2-3x (high volatility)
AGQ
ProShares Ultra Silver 2x Shares
-4.75%
$1.2B
UGL
ProShares Ultra Gold 2x Shares
-2.80%
$666M
UCO
ProShares Ultra Bloomberg Crude Oil 2x Shares
-5.68%
$416M
BOIL
ProShares Ultra Bloomberg Natural Gas 2x Shares
-6.12%
$371M
DGP
DB Gold Double Long ETN
-2.65%
$227M
SOLT
2x Solana ETF
-4.51%
$122M
GLDW
Roundhill Gold WeeklyPay ETF
-1.95%
$16M
CPXR
USCF Daily Target 2X Copper Index ETF
-2.04%
$13M
Inverse 5 ETFs that bet on declines in the same theme
Covered Call & Options 7 ETFs that add a monthly dividend via covered calls on the same theme
IAUI
NEOS Gold High Income ETF
-1.30%
$495M
SLVO
UBS AG ETRACS Silver Shares Covered Call ETNs
-1.96%
$394M
USOI
UBS AG ETRACS Crude Oil Shares Covered Call ETNs
-0.74%
$252M
GLDI
UBS AG ETRACS Gold Shares Covered Call ETNs
-1.45%
$168M
KSLV
Kurv Silver Enhanced Income ETF
-2.22%
$89M
KCOP
Kurv Copper & Mining Enhanced Income ETF
-1.40%
$33M
USG
USCF Gold Strategy Plus Income Fund
-1.49%
$9M
FAQ
What kind of ETF is KOLD?
KOLD is an ETF in the Commodities & Metals - Leveraged / Inverse category, managed by ProShares.
How many holdings does KOLD have?
KOLD holds a total of 4 securities, with an AUM of approximately $103M.
What is the 52-week high and low for KOLD?
KOLD has recorded a 52-week high of $49.47 and a low of $13.44.
면책조항: 본 콘텐츠는 참고 자료이며 투자 권유가 아닙니다. 모든 투자의 책임은 투자자 본인에게 있습니다.