ISHP vs. UCO
ISHP (First Trust S-Network Global E-Commerce ETF) and UCO (ProShares Ultra Bloomberg Crude Oil) are both exchange-traded funds - ISHP is a Consumer Discretionary Equities fund tracking the S-Network Global E-Commerce 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 5 years, ISHP returned 0.46%/yr vs 12.42%/yr for UCO. At a 0.12 correlation, their price movements are largely independent. ISHP charges 0.60%/yr vs 0.95%/yr for UCO.
Performance
ISHP vs. UCO - Performance Comparison
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Returns By Period
In the year-to-date period, ISHP achieves a -16.46% return, which is significantly lower than UCO's 81.88% return.
ISHP
- 1D
- -1.03%
- 1M
- -3.26%
- YTD
- -16.46%
- 6M
- -16.45%
- 1Y
- -14.21%
- 3Y*
- 8.69%
- 5Y*
- 0.46%
- 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%
ISHP vs. UCO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ISHP First Trust S-Network Global E-Commerce ETF | -16.46% | 12.27% | 24.17% | 22.24% | -33.79% | 30.09% | 15.33% | 19.74% | -2.04% | 7.66% |
UCO ProShares Ultra Bloomberg Crude Oil | 81.88% | -29.75% | 5.36% | -13.89% | 39.71% | 139.26% | 77.27% | 53.83% | -43.26% | 0.34% |
Correlation
The correlation between ISHP and UCO is -0.28, 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 | -0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Oct 11, 2016 | 0.12 |
The correlation between ISHP and UCO shifts across timeframes, from -0.28 (1 year) to 0.12 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ISHP vs. UCO — Risk / Return Rank
ISHP
UCO
ISHP vs. UCO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust S-Network Global E-Commerce ETF (ISHP) 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.
| ISHP | UCO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.56 | ||
| Sortino ratioReturn per unit of downside risk | -2.34 | ||
| Omega ratioGain probability vs. loss probability | 0.88 | 1.16 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | -0.58 | 1.30 | -1.88 |
| Martin ratioReturn relative to average drawdown | -1.15 | 2.61 | -3.76 |
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Drawdowns
ISHP vs. UCO - Drawdown Comparison
The maximum ISHP drawdown since its inception was -47.57%, smaller than the maximum UCO drawdown of -99.86%. Use the drawdown chart below to compare losses from any high point for ISHP and UCO.
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Drawdown Indicators
| ISHP | UCO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.57% | -99.86% | +52.29% |
Max Drawdown (1Y)Largest decline over 1 year | -24.75% | -32.37% | +7.62% |
Max Drawdown (3Y)Largest decline over 3 years | -24.75% | -50.38% | +25.63% |
Max Drawdown (5Y)Largest decline over 5 years | -47.57% | -67.24% | +19.67% |
Max Drawdown (10Y)Largest decline over 10 years | — | -96.50% | — |
Current DrawdownCurrent decline from peak | -23.26% | -85.89% | +62.63% |
Average DrawdownAverage peak-to-trough decline | -12.69% | -82.11% | +69.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.40% | 16.23% | -3.83% |
Volatility
ISHP vs. UCO - Volatility Comparison
The current volatility for First Trust S-Network Global E-Commerce ETF (ISHP) is 5.73%, while ProShares Ultra Bloomberg Crude Oil (UCO) has a volatility of 16.11%. This indicates that ISHP 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
| ISHP | UCO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.73% | 16.11% | -10.38% |
Volatility (6M)Calculated over the trailing 6-month period | 14.11% | 48.06% | -33.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.62% | 57.57% | -39.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.26% | 60.09% | -32.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.08% | 317.77% | -293.69% |
ISHP vs. UCO - Expense Ratio Comparison
ISHP has a 0.60% expense ratio, which is lower than UCO's 0.95% expense ratio.
Dividends
ISHP vs. UCO - Dividend Comparison
ISHP's dividend yield for the trailing twelve months is around 1.60%, while UCO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
ISHP First Trust S-Network Global E-Commerce ETF | 1.60% | 1.34% | 1.02% | 1.58% | 0.76% | 0.53% | 0.82% | 1.16% | 0.89% | 1.65% | 0.23% |
UCO ProShares Ultra Bloomberg Crude Oil | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ISHP and UCO have a correlation of -0.28, 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 ISHP (5.73%). In terms of maximum drawdown, ISHP dropped -47.57% vs UCO's -99.86%.
On 5-year performance, UCO leads with 12.42% vs 0.46% for ISHP. On fees, ISHP is cheaper at 0.60% per year. On volatility, ISHP has been the lower-risk option at 5.73%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, UCO has performed better with a 12.42% return vs 0.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ISHP is cheaper with a 0.60% expense ratio, compared with 0.95% for UCO.
ISHP has the higher dividend yield at 1.60%, compared with 0.00% for UCO.
ISHP is categorized as Consumer Discretionary Equities, while UCO is Oil & Gas. ISHP tracks S-Network Global E-Commerce Index, while UCO tracks Bloomberg Commodity Balanced WTI Crude Oil Index (200%). They also come from different issuers: First Trust and ProShares. Their fees differ too: 0.60% for ISHP and 0.95% for UCO.
UCO currently has the higher Sharpe Ratio (0.75 vs -0.81), 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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