IBDZ vs. UCO
IBDZ (iShares iBonds Dec 2034 Term Corporate ETF) and UCO (ProShares Ultra Bloomberg Crude Oil) are both exchange-traded funds - IBDZ is a Corporate Bonds fund tracking the iBonds Dec 2034 Term Corporate Index, while UCO is a Oil & Gas fund tracking the Bloomberg Commodity Balanced WTI Crude Oil Index (200%). Both are passively managed. Over the past year, IBDZ returned 5.23% vs 42.04% for UCO. At a correlation of -0.21, they often move in opposite directions. IBDZ charges 0.10%/yr vs 0.95%/yr for UCO.
Performance
IBDZ vs. UCO - Performance Comparison
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Returns By Period
In the year-to-date period, IBDZ achieves a 0.39% return, which is significantly lower than UCO's 81.88% return.
IBDZ
- 1D
- 0.10%
- 1M
- 0.58%
- YTD
- 0.39%
- 6M
- 0.55%
- 1Y
- 5.23%
- 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%
IBDZ vs. UCO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IBDZ iShares iBonds Dec 2034 Term Corporate ETF | 0.39% | 8.84% | 4.23% |
UCO ProShares Ultra Bloomberg Crude Oil | 81.88% | -29.75% | -9.39% |
Correlation
The correlation between IBDZ 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 (1Y) Calculated over the trailing 1-year period | -0.35 |
Correlation (All Time) Calculated using the full available price history since May 24, 2024 | -0.21 |
The correlation between IBDZ and UCO shifts across timeframes, from -0.35 (1 year) to -0.21 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IBDZ vs. UCO — Risk / Return Rank
IBDZ
UCO
IBDZ vs. UCO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2034 Term Corporate ETF (IBDZ) 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.
| IBDZ | UCO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.37 | ||
| Sortino ratioReturn per unit of downside risk | +0.37 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.16 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.72 | 1.30 | +0.42 |
| Martin ratioReturn relative to average drawdown | 5.35 | 2.61 | +2.74 |
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Drawdowns
IBDZ vs. UCO - Drawdown Comparison
The maximum IBDZ drawdown since its inception was -5.57%, smaller than the maximum UCO drawdown of -99.86%. Use the drawdown chart below to compare losses from any high point for IBDZ and UCO.
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Drawdown Indicators
| IBDZ | UCO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.57% | -99.86% | +94.29% |
Max Drawdown (1Y)Largest decline over 1 year | -3.04% | -32.37% | +29.33% |
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 DrawdownCurrent decline from peak | -1.20% | -85.89% | +84.69% |
Average DrawdownAverage peak-to-trough decline | -1.28% | -82.11% | +80.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.98% | 16.23% | -15.25% |
Volatility
IBDZ vs. UCO - Volatility Comparison
The current volatility for iShares iBonds Dec 2034 Term Corporate ETF (IBDZ) is 1.22%, while ProShares Ultra Bloomberg Crude Oil (UCO) has a volatility of 16.11%. This indicates that IBDZ 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.
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Volatility by Period
| IBDZ | UCO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.22% | 16.11% | -14.89% |
Volatility (6M)Calculated over the trailing 6-month period | 3.40% | 48.06% | -44.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.69% | 57.57% | -52.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.23% | 60.09% | -53.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.23% | 317.77% | -311.54% |
IBDZ vs. UCO - Expense Ratio Comparison
IBDZ has a 0.10% expense ratio, which is lower than UCO's 0.95% expense ratio.
Dividends
IBDZ vs. UCO - Dividend Comparison
IBDZ's dividend yield for the trailing twelve months is around 4.86%, while UCO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
IBDZ iShares iBonds Dec 2034 Term Corporate ETF | 4.86% | 4.85% | 2.50% |
UCO ProShares Ultra Bloomberg Crude Oil | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IBDZ 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.
UCO has higher volatility (16.11%) compared to IBDZ (1.22%). In terms of maximum drawdown, IBDZ dropped -5.57% vs UCO's -99.86%.
On 1-year performance, UCO leads with 42.04% vs 5.23% for IBDZ. On fees, IBDZ is cheaper at 0.10% per year. On volatility, IBDZ has been the lower-risk option at 1.22%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, UCO has performed better with a 42.04% return vs 5.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBDZ is cheaper with a 0.10% expense ratio, compared with 0.95% for UCO.
IBDZ has the higher dividend yield at 4.86%, compared with 0.00% for UCO.
IBDZ is categorized as Corporate Bonds, while UCO is Oil & Gas. IBDZ tracks iBonds Dec 2034 Term Corporate Index, while UCO tracks Bloomberg Commodity Balanced WTI Crude Oil Index (200%). They also come from different issuers: iShares and ProShares. Their fees differ too: 0.10% for IBDZ and 0.95% for UCO.
IBDZ currently has the higher Sharpe Ratio (1.12 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.
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