- ISIN
- US74347Y8883
- CUSIP
- 74347Y888
- Issuer
- ProShares
- Inception Date
- Nov 24, 2008
- Category
- Oil & Gas, Leveraged Commodities
- Leveraged
- 2x
- Index Tracked
- Bloomberg Commodity Balanced WTI Crude Oil Index (200%)
- Distribution Policy
- Accumulating
- Asset Class
- Commodity
- Assets Under Management
- $421M
Highlights
- Avg. Volume (1M)
- 4M
- Avg. Volume Value (1M)
- $138.13M
Share Price Chart
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Performance
UCO Performance Chart
ProShares Ultra Bloomberg Crude Oil (UCO) is up 109.2% since the beginning of the year. UCO is currently trading at $40 per share. Investors who bought $1,000 worth of UCO shares 5 years ago would now be looking at an investment worth $2,024.
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Returns By Period
ProShares Ultra Bloomberg Crude Oil (UCO) has returned 109.21% so far this year and 66.00% over the past 12 months. Looking at the last ten years, UCO has achieved an annualized return of 26.28%, outperforming the S&P 500 Index benchmark, which averaged 13.26% per year.
ProShares Ultra Bloomberg Crude Oil
- 1D
- 1.00%
- 1M
- 24.87%
- 6M
- 67.72%
- YTD
- 109.21%
- 1Y
- 66.00%
- 3Y*
- 9.81%
- 5Y*
- 15.14%
- 10Y*
- 26.28%
- ALL TIME*
- -9.20%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
UCO Monthly Returns History
Based on dividend-adjusted daily data since Nov 25, 2008, UCO's average daily return is +0.22%, while the average monthly return is +4.00%. At this rate, an investment would double in approximately 1.5 years.
Historically, 49% of months were positive and 51% were negative. The best month was Apr 2020 with a return of +820.1%, while the worst month was Mar 2020 at -85.5%. The longest winning streak lasted 6 consecutive months, and the longest losing streak was 7 months.
On a daily basis, UCO closed higher 52% of trading days. The best single day was Apr 21, 2020 with a return of +979.3%, while the worst single day was Mar 9, 2020 at -49.0%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 24.74% | 5.98% | 53.88% | 21.55% | -8.92% | -24.27% | 22.67% | 109.21% | |||||
| 2025 | 2.33% | -5.76% | 2.04% | -29.86% | 6.69% | 10.67% | 15.62% | -10.19% | -3.39% | -4.54% | -4.15% | -6.08% | -29.75% |
| 2024 | 9.08% | 3.02% | 12.51% | -0.24% | -6.11% | 8.38% | -5.91% | -10.18% | -10.21% | 4.25% | -3.62% | 7.67% | 5.36% |
| 2023 | -2.67% | -6.95% | -3.57% | 1.66% | -19.47% | 9.14% | 29.85% | 4.07% | 10.39% | -9.35% | -10.63% | -8.68% | -13.89% |
| 2022 | 29.17% | 15.48% | 18.43% | 4.48% | 19.37% | -12.43% | -6.90% | -12.45% | -23.04% | 18.96% | -1.54% | -1.46% | 39.71% |
| 2021 | 11.91% | 36.31% | -4.48% | 13.19% | 9.76% | 19.14% | 2.15% | -9.90% | 16.97% | 14.57% | -29.00% | 26.67% | 139.26% |
Benchmark Metrics
ProShares Ultra Bloomberg Crude Oil has an annualized alpha of 56.10%, beta of 0.83, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since November 25, 2008.
- This ETF participated in 212.56% of S&P 500 Index downside but only 150.75% of its upside - more exposed to losses than it benefited from rallies.
- R2 of 0.00 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 56.10%
- Beta
- 0.83
- R²
- 0.00
- Upside Capture
- 150.75%
- Downside Capture
- 212.56%
Expense Ratio
UCO has a high expense ratio of 0.95%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
UCO ranks 39 for risk / return — above 39% of ETFs peers on PortfoliosLab. Its historical combined result is below the peer median.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for ProShares Ultra Bloomberg Crude Oil (UCO) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| UCO | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.48 | ||
| Sortino ratioReturn per unit of downside risk | -0.46 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.25 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.46 | 2.00 | -0.54 |
| Martin ratioReturn relative to average drawdown | 3.75 | 8.49 | -4.74 |
Dividends
Dividend History
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the ProShares Ultra Bloomberg Crude Oil. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the ProShares Ultra Bloomberg Crude Oil was 99.86%, occurring on Apr 20, 2020. The portfolio has not yet recovered.
The current ProShares Ultra Bloomberg Crude Oil drawdown is 83.77%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-99.86%Apr 2020 | 11y 4mo | — | 17y 8moNov 2008 - now | COVID crash2020 |
-2.33%Nov 2008 | 1d | 1d | 1dNov 2008 - Nov 2008 | Financial crisis2007–2009 |
Drawdown Indicators
| UCO | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.86% | -56.78% | -43.08% |
Max Drawdown (1Y)Largest decline over 1 year | -38.55% | -9.10% | -29.45% |
Max Drawdown (3Y)Largest decline over 3 years | -50.38% | -18.90% | -31.48% |
Max Drawdown (5Y)Largest decline over 5 years | -67.24% | -25.43% | -41.81% |
Max Drawdown (10Y)Largest decline over 10 years | -96.50% | -33.92% | -62.58% |
Current DrawdownCurrent decline from peak | -83.77% | -1.58% | -82.19% |
Average DrawdownAverage peak-to-trough decline | -82.13% | -10.70% | -71.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.30% | 2.14% | +15.16% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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