ENHU vs. UCO

Last updated Jun 4, 2026

ENHU (iShares Enhanced Large Cap Core Active ETF) and UCO (ProShares Ultra Bloomberg Crude Oil) are both exchange-traded funds - ENHU is a Large Cap Blend Equities fund actively managed by iShares, while UCO is a Leveraged Commodities fund tracking the Dow Jones-UBS Crude Oil Sub-Index (200%). ENHU is actively managed, while UCO is passively managed. At a correlation of -0.34, they often move in opposite directions. ENHU charges 0.22%/yr vs 0.95%/yr for UCO.

Performance

ENHU vs. UCO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Enhanced Large Cap Core Active ETF (ENHU) and ProShares Ultra Bloomberg Crude Oil (UCO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ENHU achieves a 10.96% return, which is significantly lower than UCO's 149.12% return.

ENHU

• 1D: -0.62%
• 1M: 4.83%
• YTD: 10.96%
• 6M: 11.23%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

UCO

• 1D: 2.71%
• 1M: -4.64%
• YTD: 149.12%
• 6M: 137.09%
• 1Y: 120.48%
• 3Y*: 25.90%
• 5Y*: 22.16%
• 10Y*: -11.31%

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

ENHU vs. UCO - Yearly Performance Comparison

	2026 (YTD)	2025
ENHU iShares Enhanced Large Cap Core Active ETF	10.96%	1.32%
UCO ProShares Ultra Bloomberg Crude Oil	149.12%	-8.04%

Correlation

The correlation between ENHU and UCO is -0.34, 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 Nov 6, 2025	-0.34

Return for Risk

ENHU vs. UCO — Risk / Return Rank

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

UCO

UCO Risk / Return Rank: 54
UCO Sharpe Ratio Rank: 62
UCO Sortino Ratio Rank: 50
UCO Omega Ratio Rank: 50
UCO Calmar Ratio Rank: 69
UCO Martin Ratio Rank: 41

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.

ENHU vs. UCO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Enhanced Large Cap Core Active ETF (ENHU) 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.

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

Sharpe Ratios by Period

	ENHU	UCO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.12	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.37	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.16	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.74	-0.34	+2.08

Drawdowns

ENHU vs. UCO - Drawdown Comparison

The maximum ENHU drawdown since its inception was -8.98%, smaller than the maximum UCO drawdown of -99.95%. Use the drawdown chart below to compare losses from any high point for ENHU and UCO.

Drawdown Indicators

	ENHU	UCO	Difference
Max Drawdown Largest peak-to-trough decline	-8.98%	-99.95%	+90.97%
Max Drawdown (1Y) Largest decline over 1 year	—	-34.77%	—
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	—	-98.75%	—
Current Drawdown Current decline from peak	-0.62%	-99.23%	+98.61%
Average Drawdown Average peak-to-trough decline	-1.49%	-85.49%	+84.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	18.33%	—

Volatility

Volatility by Period

	ENHU	UCO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	20.83%	—
Volatility (6M) Calculated over the trailing 6-month period	—	46.44%	—
Volatility (1Y) Calculated over the trailing 1-year period	13.21%	57.11%	-43.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.21%	59.78%	-46.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.21%	71.36%	-58.15%

ENHU vs. UCO - Expense Ratio Comparison

ENHU has a 0.22% expense ratio, which is lower than UCO's 0.95% expense ratio.

Dividends

ENHU vs. UCO - Dividend Comparison

ENHU's dividend yield for the trailing twelve months is around 0.34%, while UCO has not paid dividends to shareholders.

Position	TTM	2025
ENHU iShares Enhanced Large Cap Core Active ETF	0.34%	0.17%
UCO ProShares Ultra Bloomberg Crude Oil	0.00%	0.00%

Frequently Asked Questions

Can I hold both ENHU and UCO in my portfolio?

ENHU and UCO have a correlation of -0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ENHU or UCO?

On fees, ENHU is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ENHU or UCO?

ENHU is cheaper with a 0.22% expense ratio, compared with 0.95% for UCO.

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

ENHU has the higher dividend yield at 0.34%, compared with 0.00% for UCO.

What is the main difference between ENHU and UCO?

ENHU is categorized as Large Cap Blend Equities, while UCO is Leveraged Commodities. They also come from different issuers: iShares and ProShares. Their fees differ too: 0.22% for ENHU and 0.95% for UCO.