ESBG vs. UCO
ESBG (First Trust Enhanced Stocks, Bonds & Gold ETF) and UCO (ProShares Ultra Bloomberg Crude Oil) are both exchange-traded funds - ESBG is a Tactical Allocation fund actively managed by First Trust, while UCO is a Leveraged Commodities fund tracking the Dow Jones-UBS Crude Oil Sub-Index (200%). ESBG is actively managed, while UCO is passively managed. At a correlation of -0.16, they often move in opposite directions. Both charge a 0.95% expense ratio.
Performance
ESBG vs. UCO - Performance Comparison
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Returns By Period
In the year-to-date period, ESBG achieves a 1.25% return, which is significantly lower than UCO's 131.94% return.
ESBG
- 1D
- -4.45%
- 1M
- -6.25%
- YTD
- 1.25%
- 6M
- 2.14%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
UCO
- 1D
- -3.09%
- 1M
- 3.56%
- YTD
- 131.94%
- 6M
- 114.50%
- 1Y
- 106.12%
- 3Y*
- 23.38%
- 5Y*
- 20.42%
- 10Y*
- -12.52%
ESBG vs. UCO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ESBG First Trust Enhanced Stocks, Bonds & Gold ETF | 1.25% | 5.72% |
UCO ProShares Ultra Bloomberg Crude Oil | 131.94% | -5.62% |
Correlation
The correlation between ESBG and UCO is -0.16, 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 20, 2025 | -0.16 |
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Return for Risk
ESBG vs. UCO — Risk / Return Rank
ESBG
UCO
ESBG vs. UCO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Enhanced Stocks, Bonds & Gold ETF (ESBG) 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.
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Sharpe Ratios by Period
| ESBG | UCO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 1.86 | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.34 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.18 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.53 | -0.35 | +0.87 |
Drawdowns
ESBG vs. UCO - Drawdown Comparison
The maximum ESBG drawdown since its inception was -18.84%, smaller than the maximum UCO drawdown of -99.95%. Use the drawdown chart below to compare losses from any high point for ESBG and UCO.
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Drawdown Indicators
| ESBG | UCO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.84% | -99.95% | +81.11% |
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 DrawdownCurrent decline from peak | -14.14% | -99.28% | +85.14% |
Average DrawdownAverage peak-to-trough decline | -6.33% | -85.49% | +79.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 18.36% | — |
Volatility
ESBG vs. UCO - Volatility Comparison
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Volatility by Period
| ESBG | UCO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 17.06% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 46.72% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 25.86% | 57.32% | -31.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.86% | 59.80% | -33.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.86% | 71.35% | -45.49% |
ESBG vs. UCO - Expense Ratio Comparison
Both ESBG and UCO have an expense ratio of 0.95%.
Dividends
ESBG vs. UCO - Dividend Comparison
ESBG's dividend yield for the trailing twelve months is around 0.60%, while UCO has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
ESBG First Trust Enhanced Stocks, Bonds & Gold ETF | 0.60% | 0.24% |
UCO ProShares Ultra Bloomberg Crude Oil | 0.00% | 0.00% |
Frequently Asked Questions
ESBG and UCO have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.95% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
ESBG and UCO have the same expense ratio: 0.95% per year.
ESBG has the higher dividend yield at 0.60%, compared with 0.00% for UCO.
ESBG is categorized as Tactical Allocation, while UCO is Leveraged Commodities. They also come from different issuers: First Trust and ProShares.
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