KOLD Dividend: Yield, Schedule, and What to Expect

Short answer

KOLD's approximate Variable; any distributions come from interest earned on the fund's cash collateral, not from the natural gas position itself yield (as of early 2026) makes it a growth-first, low-yield fund. It tracks -2x daily Bloomberg Natural Gas Subindex and passes through the dividends of its holdings, typically quarterly, minus a 0.95% expense ratio. If income is your goal, look to dedicated dividend funds for more; KOLD is built for total return, not yield. If total return is the goal, the yield matters less than cost and what it holds. Yield is a recent snapshot, not a promise; verify the current figure with ProShares.

How does the KOLD dividend work?

KOLD holds the companies in -2x daily Bloomberg Natural Gas Subindex, collects the dividends they pay, and distributes them to shareholders (usually quarterly), net of its 0.95% fee. The yield you see is the trailing distributions divided by price, so it drifts as both change.

ProShares UltraShort Bloomberg Natural Gas (KOLD) is an exchange-traded fund that aims to deliver, for a single day, two times the inverse (-2x) of the daily performance of the Bloomberg Natural Gas Subindex, an index tracking natural gas futures contracts. In plain terms, if natural gas futures fall about 1% on a given day, KOLD is designed to rise about 2% that day, before fees; if futures rise, KOLD falls by roughly twice as much. It does not hold physical natural gas. Instead it uses futures and other derivatives, backed by cash and short-term Treasury collateral, to obtain its leveraged short exposure. KOLD's objective resets every single day. Because of daily compounding, returns over any period longer than one day depend on the path natural gas takes, not just the start-to-end move, and in choppy or trending markets this can cause the fund to drift far from -2x the period return. Three structural forces work against a holder over time. First, the daily-reset leverage creates volatility decay (beta slippage): sharp up-and-down swings grind the value lower even if natural gas ends roughly flat. Second, natural gas is among the most volatile of all commodities, with prices that can double or halve on weather, storage, and supply shocks, which magnifies that decay. Third, the fund must continually roll its futures positions, and the shape of the futures curve (contango or backwardation) imposes roll costs that can help or hurt the short side depending on conditions and add another layer of uncertainty. For these reasons ProShares states the fund is intended for short-term, tactical use by traders who actively manage and monitor their positions, not for investors seeking long-term natural gas exposure. Its bullish 2x sibling, BOIL (ProShares Ultra Bloomberg Natural Gas), targets the opposite exposure and has historically lost the vast majority of its value over long holding periods, a vivid illustration of how leveraged commodity products decay.

How does KOLD's dividend yield compare?

Approximate yield: Variable; any distributions come from interest earned on the fund's cash collateral, not from the natural gas position itself (early 2026).
What drives it: the payout of the underlying -2x daily Bloomberg Natural Gas Subindex holdings.
Fee drag: the 0.95% expense ratio is deducted before you receive distributions.
For more income: dedicated dividend or income ETFs target higher yield, with their own trade-offs.

If income is your goal, compare KOLD against dividend-focused funds. See the best dividend ETFs roundup, or analyze how KOLD's income fits your real portfolio in Walnut.

The bottom line on the KOLD dividend

The bottom line: at an approximate Variable; any distributions come from interest earned on the fund's cash collateral, not from the natural gas position itself yield, KOLD is a growth-first, low-yield fund. If income is your goal, dedicated dividend funds pay more; KOLD is the wrong tool for yield and the right one for total-return -2x daily Bloomberg Natural Gas Subindex exposure. If total return is the goal, the yield matters less than cost and what it holds. Treat the figure as a moving snapshot, not a fixed rate, and verify the current yield with ProShares.

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FAQ

What is KOLD's dividend yield?

Approximately Variable; any distributions come from interest earned on the fund's cash collateral, not from the natural gas position itself as of early 2026. Yield moves with price and distributions, so treat it as a recent snapshot and verify the current figure on ProShares's fund page.

How often does KOLD pay a dividend?

Most US equity ETFs like KOLD distribute dividends quarterly, passing through the dividends their underlying holdings pay. Confirm the exact schedule and ex-dividend dates with ProShares.

Where does KOLD's dividend come from?

KOLD tracks -2x daily Bloomberg Natural Gas Subindex and holds names such as . The fund collects the dividends those companies pay and passes them to you, minus the 0.95% expense ratio.

Can I reinvest KOLD dividends?

Yes. Most brokers let you turn on automatic dividend reinvestment (a DRIP) so KOLD distributions buy more shares automatically. This compounds over time but still counts as taxable income in a taxable account.

Is KOLD a good choice for dividend income?

Walnut is informational, not investment advice. KOLD yields roughly Variable; any distributions come from interest earned on the fund's cash collateral, not from the natural gas position itself, which is modest. Dedicated dividend ETFs target higher yield; broad-market funds prioritize total return over yield. Match the choice to whether you want income now or growth.

Are KOLD dividends qualified?

Many dividends from a US large-cap equity ETF like KOLD are qualified (taxed at lower long-term rates) if holding-period rules are met, but some portion can be ordinary. Tax treatment depends on your situation; confirm with a tax professional and ProShares's tax documents.

Walnut is informational, not investment advice. Dividend yields and schedules are approximate, stamped to early 2026, and change; verify current figures with ProShares or your broker.