GXIG vs. UCO

Last updated Jun 24, 2026

GXIG (Global X Investment Grade Corporate Bond ETF) and UCO (ProShares Ultra Bloomberg Crude Oil) are both exchange-traded funds - GXIG is a Corporate Bonds fund actively managed by Global X, while UCO is a Oil & Gas fund tracking the Bloomberg Commodity Balanced WTI Crude Oil Index (200%). GXIG is actively managed, while UCO is passively managed. Over the past year, GXIG returned 4.30% vs 42.04% for UCO. At a correlation of -0.34, they often move in opposite directions. GXIG charges 0.14%/yr vs 0.95%/yr for UCO.

Performance

GXIG vs. UCO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Investment Grade Corporate Bond ETF (GXIG) 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, GXIG achieves a 0.46% return, which is significantly lower than UCO's 81.88% return.

GXIG

• 1D: 0.12%
• 1M: 0.68%
• YTD: 0.46%
• 6M: 0.64%
• 1Y: 4.30%
• 3Y*: —
• 5Y*: —
• 10Y*: —

UCO

• 1D: -1.26%
• 1M: -25.61%
• YTD: 81.88%
• 6M: 76.32%
• 1Y: 42.04%
• 3Y*: 15.38%
• 5Y*: 12.42%
• 10Y*: 19.46%

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

GXIG vs. UCO - Yearly Performance Comparison

	2026 (YTD)	2025
GXIG Global X Investment Grade Corporate Bond ETF	0.46%	4.61%
UCO ProShares Ultra Bloomberg Crude Oil	81.88%	-25.09%

Correlation

The correlation between GXIG 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 (1Y) Calculated over the trailing 1-year period	-0.34
Correlation (All Time) Calculated using the full available price history since Jun 17, 2025	-0.34

Return for Risk

GXIG vs. UCO — Risk / Return Rank

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

GXIG

GXIG Risk / Return Rank: 24
GXIG Sharpe Ratio Rank: 23
GXIG Sortino Ratio Rank: 21
GXIG Omega Ratio Rank: 22
GXIG Calmar Ratio Rank: 29
GXIG Martin Ratio Rank: 26

UCO

UCO Risk / Return Rank: 24
UCO Sharpe Ratio Rank: 22
UCO Sortino Ratio Rank: 24
UCO Omega Ratio Rank: 24
UCO Calmar Ratio Rank: 27
UCO Martin Ratio Rank: 22

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.

GXIG vs. UCO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Investment Grade Corporate Bond ETF (GXIG) 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.

	GXIG	UCO	Difference
Sharpe ratio: Return per unit of total volatility	0.75	0.75	0.00
Sortino ratio: Return per unit of downside risk	1.10	1.30	-0.20
Omega ratio: Gain probability vs. loss probability	1.14	1.16	-0.02
Calmar ratio: Return relative to maximum drawdown	1.36	1.30	+0.05
Martin ratio: Return relative to average drawdown	3.30	2.61	+0.69

GXIG vs. UCO - Sharpe Ratio Comparison

The current GXIG Sharpe Ratio is 0.75, which is comparable to the UCO Sharpe Ratio of 0.75. The chart below compares the historical Sharpe Ratios of GXIG and UCO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GXIG vs. UCO - Drawdown Comparison

The maximum GXIG drawdown since its inception was -3.18%, smaller than the maximum UCO drawdown of -99.86%. Use the drawdown chart below to compare losses from any high point for GXIG and UCO.

Drawdown Indicators

	GXIG	UCO	Difference
Max Drawdown Largest peak-to-trough decline	-3.18%	-99.86%	+96.68%
Max Drawdown (1Y) Largest decline over 1 year	-3.18%	-32.37%	+29.19%
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	-1.33%	-85.89%	+84.56%
Average Drawdown Average peak-to-trough decline	-1.06%	-82.11%	+81.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.31%	16.23%	-14.92%

Volatility

GXIG vs. UCO - Volatility Comparison

The current volatility for Global X Investment Grade Corporate Bond ETF (GXIG) is 1.20%, while ProShares Ultra Bloomberg Crude Oil (UCO) has a volatility of 16.11%. This indicates that GXIG experiences smaller price fluctuations and is considered to be less risky than UCO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GXIG	UCO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.20%	16.11%	-14.91%
Volatility (6M) Calculated over the trailing 6-month period	4.13%	48.06%	-43.93%
Volatility (1Y) Calculated over the trailing 1-year period	5.75%	57.57%	-51.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.72%	60.09%	-54.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.72%	317.77%	-312.05%

GXIG vs. UCO - Expense Ratio Comparison

GXIG has a 0.14% expense ratio, which is lower than UCO's 0.95% expense ratio.

Dividends

GXIG vs. UCO - Dividend Comparison

GXIG's dividend yield for the trailing twelve months is around 5.90%, while UCO has not paid dividends to shareholders.

Position	TTM	2025
GXIG Global X Investment Grade Corporate Bond ETF	5.90%	3.83%
UCO ProShares Ultra Bloomberg Crude Oil	0.00%	0.00%

Frequently Asked Questions

Can I hold both GXIG and UCO in my portfolio?

GXIG 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 is riskier, GXIG or UCO?

UCO has higher volatility (16.11%) compared to GXIG (1.20%). In terms of maximum drawdown, GXIG dropped -3.18% vs UCO's -99.86%.

Which ETF is better, GXIG or UCO?

On 1-year performance, UCO leads with 42.04% vs 4.30% for GXIG. On fees, GXIG is cheaper at 0.14% per year. On volatility, GXIG has been the lower-risk option at 1.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GXIG or UCO?

Over the 1-year period, UCO has performed better with a 42.04% return vs 4.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GXIG or UCO?

GXIG is cheaper with a 0.14% expense ratio, compared with 0.95% for UCO.

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

GXIG has the higher dividend yield at 5.90%, compared with 0.00% for UCO.

What is the main difference between GXIG and UCO?

GXIG is categorized as Corporate Bonds, while UCO is Oil & Gas. They also come from different issuers: Global X and ProShares. Their fees differ too: 0.14% for GXIG and 0.95% for UCO.

Which has better risk-adjusted returns?

GXIG currently has the higher Sharpe Ratio (0.75 vs 0.75), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.