ProShares Ultra Bloomberg Crude Oil (UCO) belongs to the Leveraged Commodities category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with UCO. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to UCO
UCO charges 0.95% annually. There are 4 ETFs in the Leveraged Commodities category with lower expense ratios, going as low as 0.50%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Simplify Gold Strategy PLUS Income ETF | 0.50% | 43.90M | Dec 2024 | UCO vs YGLD | |
| DB Gold Double Long Exchange Traded Notes | 0.75% | 228.65M | Feb 2008 | UCO vs DGP | |
| DB Gold Double Short Exchange Traded Notes | 0.75% | 1.29M | Feb 2008 | UCO vs DZZ | |
| ProShares Ultra Silver | 0.93% | 1.87B | Dec 2008 | UCO vs AGQ | |
| ProShares UltraShort Bloomberg Crude Oil | 0.95% | 1.48B | Nov 2008 | UCO vs SCO |
Best Risk-Adjusted Alternatives to UCO
UCO has a PortfoliosLab risk / return rank of 56. No ETFs in the Leveraged Commodities category have higher risk-adjusted ranks; the top alternatives shown here go as high as 54.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| MicroSectors Oil & Gas Exploration & Production 3X... | 54 | 33.55M | Mar 2017 | UCO vs OILU | |
| ProShares Ultra Silver | 41 | 1.87B | Dec 2008 | UCO vs AGQ | |
| DB Gold Double Long Exchange Traded Notes | 32 | 228.65M | Feb 2008 | UCO vs DGP | |
| ProShares Ultra Gold | 29 | 854.04M | Dec 2008 | UCO vs UGL | |
| MicroSectors Gold 3X Leveraged ETN | 23 | 106.06M | Feb 2023 | UCO vs SHNY |
Top Performing UCO Alternatives (YTD)
UCO is at 142.55% YTD. No ETFs in the Leveraged Commodities category have higher YTD returns; the top-performing alternatives shown here go as high as 89.62%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| MicroSectors Oil & Gas Exploration & Production 3X... | 89.62% | 33.55M | Mar 2017 | UCO vs OILU | |
| Teucrium 2x Daily Wheat ETF | 27.79% | 9.15M | Dec 2024 | UCO vs WXET | |
| DB Gold Double Long Exchange Traded Notes | 2.76% | 228.65M | Feb 2008 | UCO vs DGP | |
| Roundhill Gold WeeklyPay ETF | 2.22% | 23.42M | Oct 2025 | UCO vs GLDW | |
| ProShares Ultra Gold | -0.16% | 854.04M | Dec 2008 | UCO vs UGL |
Lowest Volatility Alternatives to UCO
UCO has 57.35% 1-year volatility. There are 8 ETFs in the Leveraged Commodities category with lower 1-year volatility, going as low as 36.13%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Teucrium 2x Daily Corn ETF | 36.13% | 4.25M | Dec 2024 | UCO vs CXRN | |
| Roundhill Gold WeeklyPay ETF | 36.99% | 23.42M | Oct 2025 | UCO vs GLDW | |
| Simplify Gold Strategy PLUS Income ETF | 40.60% | 43.90M | Dec 2024 | UCO vs YGLD | |
| Teucrium 2x Daily Wheat ETF | 49.90% | 9.15M | Dec 2024 | UCO vs WXET | |
| ProShares UltraShort Gold | 52.57% | 102.63M | Dec 2008 | UCO vs GLL |
Lowest Drawdown Alternatives to UCO
UCO has a 1-year max drawdown of -34.77%. There are 3 ETFs in the Leveraged Commodities category with shallower 1-year drawdowns, going as shallow as -25.27%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Teucrium 2x Daily Corn ETF | -25.27% | 4.25M | Dec 2024 | UCO vs CXRN | |
| MicroSectors Oil & Gas Exploration & Production 3X... | -33.51% | 33.55M | Mar 2017 | UCO vs OILU | |
| Simplify Gold Strategy PLUS Income ETF | -34.23% | 43.90M | Dec 2024 | UCO vs YGLD | |
| Teucrium 2x Daily Wheat ETF | -35.64% | 9.15M | Dec 2024 | UCO vs WXET | |
| DB Gold Double Long Exchange Traded Notes | -36.58% | 228.65M | Feb 2008 | UCO vs DGP |
Other ETFs from ProShares
The 10 most viewed ProShares ETFs shown here include TQQQ, BITO, QLD and span 7 categories. AUM among these funds goes as high as $40B.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| ProShares UltraPro QQQ | Leveraged Equities | 75 | 65.71% | 39.77B | Feb 2010 | UCO vs TQQQ | |
| ProShares Bitcoin Strategy ETF | Cryptocurrency | 2 | -24.14% | 1.70B | Oct 2021 | UCO vs BITO | |
| ProShares Ultra QQQ | Leveraged Equities | 73 | 42.81% | 14.46B | Jun 2006 | UCO vs QLD | |
| ProShares UltraPro S&P 500 | Leveraged Equities, S&P 500 | 69 | 30.62% | 5.55B | Jun 2009 | UCO vs UPRO | |
| ProShares Ultra S&P500 | Leveraged Equities, S&P 500 | 68 | 21.07% | 8.38B | Jun 2006 | UCO vs SSO | |
| ProShares S&P 500 Dividend Aristocrats ETF | S&P 500, Dividend | 23 | 3.68% | 11.07B | Oct 2013 | UCO vs NOBL | |
| ProShares Ultra Semiconductors | Leveraged Equities, Semiconductors | 92 | 116.46% | 3.05B | Jan 2007 | UCO vs USD | |
| ProShares UltraPro Short QQQ | Leveraged Equities | 0 | -45.68% | 2.23B | Feb 2010 | UCO vs SQQQ | |
| ProShares Ultra VIX Short-Term Futures ETF | Volatility | 1 | -18.87% | 398.99M | Oct 2011 | UCO vs UVXY | |
| Proshares Ultra Bitcoin ETF | Cryptocurrency, Leveraged Cryptocurrency | 2 | -50.14% | 446.55M | Apr 2024 | UCO vs BITU |
Often Compared With UCO
Investors most often compare UCO with USO, BOIL, ERX. These 20 comparison targets span 6 categories, based on PortfoliosLab usage data.
Compare UCO with Any Fund or Stock
Compare UCO with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair UCO with funds that move differently
ProShares Ultra Bloomberg Crude Oil alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to UCO.
Explore UCO Diversifiers