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IXJ vs. UCO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IXJ vs. UCO

Last updated Jun 3, 2026

IXJ (iShares Global Healthcare ETF) and UCO (ProShares Ultra Bloomberg Crude Oil) are both exchange-traded funds - IXJ is a Health & Biotech Equities fund tracking the S&P Global Healthcare Sector 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 10 years, IXJ returned 7.62%/yr vs -11.55%/yr for UCO. At a 0.19 correlation, their price movements are largely independent. IXJ charges 0.46%/yr vs 0.95%/yr for UCO.

Performance

IXJ vs. UCO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Global Healthcare ETF (IXJ) and ProShares Ultra Bloomberg Crude Oil (UCO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IXJ achieves a -5.63% return, which is significantly lower than UCO's 142.55% return. Over the past 10 years, IXJ has outperformed UCO with an annualized return of 7.62%, while UCO has yielded a comparatively lower -11.55% annualized return.

IXJ

1D
-1.14%
1M
-0.53%
YTD
-5.63%
6M
-4.79%
1Y
8.57%
3Y*
4.29%
5Y*
4.05%
10Y*
7.62%

UCO

1D
2.52%
1M
0.21%
YTD
142.55%
6M
133.13%
1Y
118.05%
3Y*
24.78%
5Y*
21.76%
10Y*
-11.55%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IXJ vs. UCO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IXJ
iShares Global Healthcare ETF		-5.63%14.99%0.55%3.62%-4.94%19.60%12.74%23.23%2.83%20.44%
UCO
ProShares Ultra Bloomberg Crude Oil		142.55%-29.75%5.36%-13.89%39.71%139.26%-92.91%53.83%-43.26%0.34%

Correlation

The correlation between IXJ and UCO is -0.36, 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

-0.36

Correlation (3Y)
Calculated over the trailing 3-year period

-0.18

Correlation (5Y)
Calculated over the trailing 5-year period

-0.05

Correlation (10Y)
Calculated over the trailing 10-year period

0.08

Correlation (All Time)
Calculated using the full available price history since Nov 26, 2008

0.19

The correlation between IXJ and UCO shifts across timeframes, from -0.36 (1 year) to 0.19 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Global Healthcare ETF

ProShares Ultra Bloomberg Crude Oil

Often compared with IXJ:
IXJ vs. XLVIXJ vs. VHTIXJ vs. XDWH.LIXJ vs. IHIIXJ vs. FHLCIXJ vs. IVVIXJ vs. HLTH.L
Often compared with UCO:
UCO vs. USOUCO vs. SCOUCO vs. OILUUCO vs. BOILUCO vs. ERXUCO vs. LABUUCO vs. OIH

Return for Risk

IXJ vs. UCO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IXJ
IXJ Risk / Return Rank: 1818
Overall Rank
IXJ Sharpe Ratio Rank: 1818
Sharpe Ratio Rank
IXJ Sortino Ratio Rank: 1919
Sortino Ratio Rank
IXJ Omega Ratio Rank: 1818
Omega Ratio Rank
IXJ Calmar Ratio Rank: 1919
Calmar Ratio Rank
IXJ Martin Ratio Rank: 1818
Martin Ratio Rank
UCO
UCO Risk / Return Rank: 5656
Overall Rank
UCO Sharpe Ratio Rank: 6161
Sharpe Ratio Rank
UCO Sortino Ratio Rank: 4949
Sortino Ratio Rank
UCO Omega Ratio Rank: 5050
Omega Ratio Rank
UCO Calmar Ratio Rank: 7474
Calmar Ratio Rank
UCO Martin Ratio Rank: 4444
Martin Ratio Rank
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.

IXJ vs. UCO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Global Healthcare ETF (IXJ) 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.

IXJUCODifference

Sharpe ratio

Return per unit of total volatility

0.59

2.08

-1.49

Sortino ratio

Return per unit of downside risk

0.99

2.43

-1.45

Omega ratio

Gain probability vs. loss probability

1.11

1.32

-0.21

Calmar ratio

Return relative to maximum drawdown

0.82

3.78

-2.96

Martin ratio

Return relative to average drawdown

2.02

7.17

-5.15

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IXJ vs. UCO - Sharpe Ratio Comparison

The current IXJ Sharpe Ratio is 0.59, which is lower than the UCO Sharpe Ratio of 2.08. The chart below compares the historical Sharpe Ratios of IXJ 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.

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Sharpe Ratios by Period

IXJUCODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.59

2.08

-1.49

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.29

0.37

-0.08

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.49

-0.16

+0.65

Sharpe Ratio (All Time)

Calculated using the full available price history

0.42

-0.34

+0.76

Drawdowns

IXJ vs. UCO - Drawdown Comparison

The maximum IXJ drawdown since its inception was -40.60%, smaller than the maximum UCO drawdown of -99.95%. Use the drawdown chart below to compare losses from any high point for IXJ and UCO.

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Drawdown Indicators

IXJUCODifference

Max Drawdown

Largest peak-to-trough decline

-40.60%

-99.95%

+59.35%

Max Drawdown (1Y)

Largest decline over 1 year

-10.78%

-34.77%

+23.99%

Max Drawdown (3Y)

Largest decline over 3 years

-18.14%

-50.38%

+32.24%

Max Drawdown (5Y)

Largest decline over 5 years

-18.14%

-67.24%

+49.10%

Max Drawdown (10Y)

Largest decline over 10 years

-27.35%

-98.75%

+71.40%

Current Drawdown

Current decline from peak

-9.63%

-99.25%

+89.62%

Average Drawdown

Average peak-to-trough decline

-6.92%

-85.48%

+78.56%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.38%

18.32%

-13.94%

Volatility

IXJ vs. UCO - Volatility Comparison

The current volatility for iShares Global Healthcare ETF (IXJ) is 3.76%, while ProShares Ultra Bloomberg Crude Oil (UCO) has a volatility of 22.10%. This indicates that IXJ 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

IXJUCODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.76%

22.10%

-18.34%

Volatility (6M)

Calculated over the trailing 6-month period

10.13%

46.40%

-36.27%

Volatility (1Y)

Calculated over the trailing 1-year period

14.55%

57.35%

-42.80%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.21%

59.77%

-45.56%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.67%

71.36%

-55.69%

IXJ vs. UCO - Expense Ratio Comparison

IXJ has a 0.46% expense ratio, which is lower than UCO's 0.95% expense ratio.

Dividends

IXJ vs. UCO - Dividend Comparison

IXJ's dividend yield for the trailing twelve months is around 1.48%, while UCO has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
IXJ
iShares Global Healthcare ETF		1.48%1.40%1.50%1.38%1.17%1.12%1.27%1.42%2.11%1.46%1.73%2.85%
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%0.00%

Frequently Asked Questions

IXJ and UCO have a correlation of -0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

UCO has higher volatility (22.10%) compared to IXJ (3.76%). In terms of maximum drawdown, IXJ dropped -40.60% vs UCO's -99.95%.

On 10-year performance, IXJ leads with 7.62% vs -11.55% for UCO. On fees, IXJ is cheaper at 0.46% per year. On volatility, IXJ has been the lower-risk option at 3.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IXJ has performed better with a 7.62% return vs -11.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IXJ is cheaper with a 0.46% expense ratio, compared with 0.95% for UCO.

IXJ has the higher dividend yield at 1.48%, compared with 0.00% for UCO.

IXJ is categorized as Health & Biotech Equities, while UCO is Leveraged Commodities. IXJ tracks S&P Global Healthcare Sector 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: 0.46% for IXJ and 0.95% for UCO.

UCO currently has the higher Sharpe Ratio (2.08 vs 0.59), 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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