IBIL vs. UCO
IBIL (iShares iBonds Oct 2035 Term TIPS ETF) and UCO (ProShares Ultra Bloomberg Crude Oil) are both exchange-traded funds - IBIL is a Inflation-Protected Bonds fund tracking the ICE 2035 Maturity US Treasury TIPS Index, while UCO is a Leveraged Commodities fund tracking the Dow Jones-UBS Crude Oil Sub-Index (200%). Both are passively managed. Over the past year, IBIL returned 5.94% vs 115.57% for UCO. At a correlation of -0.12, they often move in opposite directions. IBIL charges 0.10%/yr vs 0.95%/yr for UCO.
Performance
IBIL vs. UCO - Performance Comparison
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Returns By Period
In the year-to-date period, IBIL achieves a 1.65% return, which is significantly lower than UCO's 139.34% return.
IBIL
- 1D
- 0.06%
- 1M
- -0.17%
- YTD
- 1.65%
- 6M
- 1.23%
- 1Y
- 5.94%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
UCO
- 1D
- -3.93%
- 1M
- -5.57%
- YTD
- 139.34%
- 6M
- 124.58%
- 1Y
- 115.57%
- 3Y*
- 24.38%
- 5Y*
- 21.18%
- 10Y*
- -11.98%
IBIL vs. UCO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IBIL iShares iBonds Oct 2035 Term TIPS ETF | 1.65% | 4.75% |
UCO ProShares Ultra Bloomberg Crude Oil | 139.34% | -26.51% |
Correlation
The correlation between IBIL and UCO is -0.19, 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 | -0.19 |
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025 | -0.12 |
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Return for Risk
IBIL vs. UCO — Risk / Return Rank
IBIL
UCO
IBIL vs. UCO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Oct 2035 Term TIPS ETF (IBIL) 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.
| IBIL | UCO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.96 | ||
| Sortino ratioReturn per unit of downside risk | -0.88 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.31 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 2.16 | 3.34 | -1.18 |
| Martin ratioReturn relative to average drawdown | 5.18 | 6.32 | -1.14 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IBIL | UCO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.07 | 2.03 | -0.96 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.36 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.17 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.66 | -0.34 | +1.01 |
Drawdowns
IBIL vs. UCO - Drawdown Comparison
The maximum IBIL drawdown since its inception was -5.28%, smaller than the maximum UCO drawdown of -99.95%. Use the drawdown chart below to compare losses from any high point for IBIL and UCO.
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Drawdown Indicators
| IBIL | UCO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.28% | -99.95% | +94.67% |
Max Drawdown (1Y)Largest decline over 1 year | -2.76% | -34.77% | +32.01% |
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 | -0.60% | -99.26% | +98.66% |
Average DrawdownAverage peak-to-trough decline | -1.48% | -85.49% | +84.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.15% | 18.34% | -17.19% |
Volatility
IBIL vs. UCO - Volatility Comparison
The current volatility for iShares iBonds Oct 2035 Term TIPS ETF (IBIL) is 1.25%, while ProShares Ultra Bloomberg Crude Oil (UCO) has a volatility of 20.99%. This indicates that IBIL 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
| IBIL | UCO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.25% | 20.99% | -19.74% |
Volatility (6M)Calculated over the trailing 6-month period | 3.08% | 46.57% | -43.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.58% | 57.26% | -51.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.19% | 59.81% | -51.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.19% | 71.35% | -63.16% |
IBIL vs. UCO - Expense Ratio Comparison
IBIL has a 0.10% expense ratio, which is lower than UCO's 0.95% expense ratio.
Dividends
IBIL vs. UCO - Dividend Comparison
IBIL's dividend yield for the trailing twelve months is around 3.47%, while UCO has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
IBIL iShares iBonds Oct 2035 Term TIPS ETF | 3.47% | 2.93% |
UCO ProShares Ultra Bloomberg Crude Oil | 0.00% | 0.00% |
Frequently Asked Questions
IBIL and UCO have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UCO has higher volatility (20.99%) compared to IBIL (1.25%). In terms of maximum drawdown, IBIL dropped -5.28% vs UCO's -99.95%.
On 1-year performance, UCO leads with 115.57% vs 5.94% for IBIL. On fees, IBIL is cheaper at 0.10% per year. On volatility, IBIL has been the lower-risk option at 1.25%. 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 115.57% return vs 5.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIL is cheaper with a 0.10% expense ratio, compared with 0.95% for UCO.
IBIL has the higher dividend yield at 3.47%, compared with 0.00% for UCO.
IBIL is categorized as Inflation-Protected Bonds, while UCO is Leveraged Commodities. IBIL tracks ICE 2035 Maturity US Treasury TIPS Index, while UCO tracks Dow Jones-UBS Crude Oil Sub-Index (200%). They also come from different issuers: iShares and ProShares. Their fees differ too: 0.10% for IBIL and 0.95% for UCO.
UCO currently has the higher Sharpe Ratio (2.03 vs 1.07), 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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