IVEP vs. UCO

Last updated Jun 4, 2026

IVEP (Dan IVES Wedbush AI Power & Infrastructure ETF) and UCO (ProShares Ultra Bloomberg Crude Oil) are both exchange-traded funds - IVEP is a Industrials Equities fund tracking the Solactive Wedbush AI Power & Infrastructure Index, while UCO is a Leveraged Commodities fund tracking the Dow Jones-UBS Crude Oil Sub-Index (200%). Both are passively managed. At a correlation of -0.33, they often move in opposite directions. IVEP charges 0.75%/yr vs 0.95%/yr for UCO.

Performance

IVEP vs. UCO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dan IVES Wedbush AI Power & Infrastructure ETF (IVEP) and ProShares Ultra Bloomberg Crude Oil (UCO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IVEP

• 1D: -0.87%
• 1M: -1.63%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

UCO

• 1D: 2.71%
• 1M: -4.64%
• YTD: 149.12%
• 6M: 137.09%
• 1Y: 120.48%
• 3Y*: 25.90%
• 5Y*: 22.16%
• 10Y*: -11.31%

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

IVEP vs. UCO - Yearly Performance Comparison

	2026 (YTD)
IVEP Dan IVES Wedbush AI Power & Infrastructure ETF	8.37%
UCO ProShares Ultra Bloomberg Crude Oil	20.84%

Correlation

The correlation between IVEP and UCO is -0.33, 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 Apr 9, 2026	-0.33

Return for Risk

IVEP vs. UCO — Risk / Return Rank

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

UCO

UCO Risk / Return Rank: 54
UCO Sharpe Ratio Rank: 62
UCO Sortino Ratio Rank: 50
UCO Omega Ratio Rank: 50
UCO Calmar Ratio Rank: 69
UCO Martin Ratio Rank: 41

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.

IVEP vs. UCO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dan IVES Wedbush AI Power & Infrastructure ETF (IVEP) 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.

Sharpe Ratios by Period

	IVEP	UCO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.12	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.37	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.16	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.62	-0.34	+2.96

Drawdowns

IVEP vs. UCO - Drawdown Comparison

The maximum IVEP drawdown since its inception was -7.34%, smaller than the maximum UCO drawdown of -99.95%. Use the drawdown chart below to compare losses from any high point for IVEP and UCO.

Drawdown Indicators

	IVEP	UCO	Difference
Max Drawdown Largest peak-to-trough decline	-7.34%	-99.95%	+92.61%
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 Drawdown Current decline from peak	-3.31%	-99.23%	+95.92%
Average Drawdown Average peak-to-trough decline	-1.97%	-85.49%	+83.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	18.33%	—

Volatility

Volatility by Period

	IVEP	UCO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	20.83%	—
Volatility (6M) Calculated over the trailing 6-month period	—	46.44%	—
Volatility (1Y) Calculated over the trailing 1-year period	26.29%	57.11%	-30.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.29%	59.78%	-33.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.29%	71.36%	-45.07%

IVEP vs. UCO - Expense Ratio Comparison

IVEP has a 0.75% expense ratio, which is lower than UCO's 0.95% expense ratio.

Dividends

IVEP vs. UCO - Dividend Comparison

Neither IVEP nor UCO has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both IVEP and UCO in my portfolio?

IVEP and UCO have a correlation of -0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IVEP or UCO?

On fees, IVEP is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IVEP or UCO?

IVEP is cheaper with a 0.75% expense ratio, compared with 0.95% for UCO.

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

IVEP and UCO have nearly identical dividend yields, around 0.00%.

What is the main difference between IVEP and UCO?

IVEP is categorized as Industrials Equities, while UCO is Leveraged Commodities. IVEP tracks Solactive Wedbush AI Power & Infrastructure Index, while UCO tracks Dow Jones-UBS Crude Oil Sub-Index (200%). They also come from different issuers: Wedbush and ProShares. Their fees differ too: 0.75% for IVEP and 0.95% for UCO.