KGLD vs. UCO

Last updated Jun 5, 2026

KGLD (Kurv Gold Enhanced Income ETF ) and UCO (ProShares Ultra Bloomberg Crude Oil) are both exchange-traded funds - KGLD is a Derivative Income fund actively managed by Kurv, while UCO is a Leveraged Commodities fund tracking the Dow Jones-UBS Crude Oil Sub-Index (200%). KGLD is actively managed, while UCO is passively managed. At a correlation of -0.06, they often move in opposite directions. KGLD charges 1.00%/yr vs 0.95%/yr for UCO.

Performance

KGLD vs. UCO - Performance Comparison

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

Returns By Period

In the year-to-date period, KGLD achieves a 3.87% return, which is significantly lower than UCO's 139.34% return.

KGLD

• 1D: 0.85%
• 1M: -1.84%
• YTD: 3.87%
• 6M: 6.74%
• 1Y: —
• 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%

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

KGLD vs. UCO - Yearly Performance Comparison

	2026 (YTD)	2025
KGLD Kurv Gold Enhanced Income ETF	3.87%	29.75%
UCO ProShares Ultra Bloomberg Crude Oil	139.34%	-20.69%

Correlation

The correlation between KGLD and UCO is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 9, 2025	-0.06

Return for Risk

KGLD 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: 51
UCO Calmar Ratio Rank: 68
UCO Martin Ratio Rank: 40

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.

KGLD vs. UCO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Kurv Gold Enhanced Income ETF (KGLD) 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

	KGLD	UCO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.03	—
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	1.36	-0.34	+1.70

Drawdowns

KGLD vs. UCO - Drawdown Comparison

The maximum KGLD drawdown since its inception was -20.29%, smaller than the maximum UCO drawdown of -99.95%. Use the drawdown chart below to compare losses from any high point for KGLD and UCO.

Drawdown Indicators

	KGLD	UCO	Difference
Max Drawdown Largest peak-to-trough decline	-20.29%	-99.95%	+79.66%
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	-18.71%	-99.26%	+80.55%
Average Drawdown Average peak-to-trough decline	-6.15%	-85.49%	+79.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	18.34%	—

Volatility

Volatility by Period

	KGLD	UCO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	20.99%	—
Volatility (6M) Calculated over the trailing 6-month period	—	46.57%	—
Volatility (1Y) Calculated over the trailing 1-year period	28.67%	57.26%	-28.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.67%	59.81%	-31.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.67%	71.35%	-42.68%

KGLD vs. UCO - Expense Ratio Comparison

KGLD has a 1.00% expense ratio, which is higher than UCO's 0.95% expense ratio.

Dividends

KGLD vs. UCO - Dividend Comparison

KGLD's dividend yield for the trailing twelve months is around 12.53%, while UCO has not paid dividends to shareholders.

Position	TTM	2025
KGLD Kurv Gold Enhanced Income ETF	12.53%	4.59%
UCO ProShares Ultra Bloomberg Crude Oil	0.00%	0.00%

Frequently Asked Questions

Can I hold both KGLD and UCO in my portfolio?

KGLD and UCO have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, KGLD or UCO?

On fees, UCO is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, KGLD or UCO?

UCO is cheaper with a 0.95% expense ratio, compared with 1.00% for KGLD.

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

KGLD has the higher dividend yield at 12.53%, compared with 0.00% for UCO.

What is the main difference between KGLD and UCO?

KGLD is categorized as Derivative Income, while UCO is Leveraged Commodities. They also come from different issuers: Kurv and ProShares. Their fees differ too: 1.00% for KGLD and 0.95% for UCO.