ASMU vs. UCO

Last updated Jun 26, 2026

ASMU (Direxion Daily ASML Bull 2X ETF) and UCO (ProShares Ultra Bloomberg Crude Oil) are both exchange-traded funds - ASMU is a Leveraged Equities fund actively managed by Direxion, while UCO is a Oil & Gas fund tracking the Bloomberg Commodity Balanced WTI Crude Oil Index (200%). ASMU is actively managed, while UCO is passively managed. At a correlation of -0.35, they often move in opposite directions. ASMU charges 0.97%/yr vs 0.95%/yr for UCO.

Performance

ASMU vs. UCO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily ASML Bull 2X ETF (ASMU) and ProShares Ultra Bloomberg Crude Oil (UCO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ASMU

• 1D: 8.49%
• 1M: 21.60%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

UCO

• 1D: 4.80%
• 1M: -24.44%
• YTD: 77.33%
• 6M: 71.99%
• 1Y: 53.08%
• 3Y*: 14.02%
• 5Y*: 11.51%
• 10Y*: 19.59%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ASMU vs. UCO - Yearly Performance Comparison

	2026 (YTD)
ASMU Direxion Daily ASML Bull 2X ETF	42.93%
UCO ProShares Ultra Bloomberg Crude Oil	45.17%

Correlation

The correlation between ASMU and UCO is -0.35, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 11, 2026	-0.35

Return for Risk

ASMU vs. UCO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ASMU

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

UCO

UCO Risk / Return Rank: 29
UCO Sharpe Ratio Rank: 29
UCO Sortino Ratio Rank: 30
UCO Omega Ratio Rank: 29
UCO Calmar Ratio Rank: 31
UCO Martin Ratio Rank: 26

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ASMU vs. UCO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily ASML Bull 2X ETF (ASMU) and ProShares Ultra Bloomberg Crude Oil (UCO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

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.

	ASMU	UCO	Difference
Sharpe ratio: Return per unit of total volatility	—	0.95	—
Sortino ratio: Return per unit of downside risk	—	1.50	—
Omega ratio: Gain probability vs. loss probability	—	1.18	—
Calmar ratio: Return relative to maximum drawdown	—	1.44	—
Martin ratio: Return relative to average drawdown	—	3.23	—

Drawdowns

ASMU vs. UCO - Drawdown Comparison

The maximum ASMU drawdown since its inception was -34.79%, smaller than the maximum UCO drawdown of -99.86%. Use the drawdown chart below to compare losses from any high point for ASMU and UCO.

Drawdown Indicators

	ASMU	UCO	Difference
Max Drawdown Largest peak-to-trough decline	-34.79%	-99.86%	+65.07%
Max Drawdown (1Y) Largest decline over 1 year	—	-37.09%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-50.38%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-67.24%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-96.50%	—
Current Drawdown Current decline from peak	-10.10%	-86.24%	+76.14%
Average Drawdown Average peak-to-trough decline	-12.06%	-82.11%	+70.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	16.46%	—

Volatility

Volatility by Period

	ASMU	UCO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	18.06%	—
Volatility (6M) Calculated over the trailing 6-month period	—	48.70%	—
Volatility (1Y) Calculated over the trailing 1-year period	104.31%	56.42%	+47.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	104.31%	60.21%	+44.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	104.31%	317.66%	-213.35%

ASMU vs. UCO - Expense Ratio Comparison

ASMU has a 0.97% expense ratio, which is higher than UCO's 0.95% expense ratio.

Dividends

ASMU vs. UCO - Dividend Comparison

ASMU's dividend yield for the trailing twelve months is around 0.51%, while UCO has not paid dividends to shareholders.

Position	TTM
ASMU Direxion Daily ASML Bull 2X ETF	0.51%
UCO ProShares Ultra Bloomberg Crude Oil	0.00%

Frequently Asked Questions

Can I hold both ASMU and UCO in my portfolio?

ASMU and UCO have a correlation of -0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ASMU or UCO?

On fees, UCO is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ASMU or UCO?

UCO is cheaper with a 0.95% expense ratio, compared with 0.97% for ASMU.

Which ETF pays a higher dividend yield, ASMU or UCO?

ASMU has the higher dividend yield at 0.51%, compared with 0.00% for UCO.

What is the main difference between ASMU and UCO?

ASMU is categorized as Leveraged Equities, while UCO is Oil & Gas. They also come from different issuers: Direxion and ProShares. Their fees differ too: 0.97% for ASMU and 0.95% for UCO.