KMID vs. UCO
KMID (Virtus KAR Mid-Cap ETF) and UCO (ProShares Ultra Bloomberg Crude Oil) are both exchange-traded funds - KMID is a Mid Cap Growth Equities fund actively managed by Virtus, while UCO is a Leveraged Commodities fund tracking the Dow Jones-UBS Crude Oil Sub-Index (200%). KMID is actively managed, while UCO is passively managed. Over the past year, KMID returned 0.73% vs 120.48% for UCO. At a correlation of -0.09, they often move in opposite directions. KMID charges 0.80%/yr vs 0.95%/yr for UCO.
Performance
KMID vs. UCO - Performance Comparison
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Returns By Period
In the year-to-date period, KMID achieves a 1.86% return, which is significantly lower than UCO's 149.12% return.
KMID
- 1D
- 0.52%
- 1M
- 0.10%
- YTD
- 1.86%
- 6M
- 1.78%
- 1Y
- 0.73%
- 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%
KMID vs. UCO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
KMID Virtus KAR Mid-Cap ETF | 1.86% | 0.31% | -2.93% |
UCO ProShares Ultra Bloomberg Crude Oil | 149.12% | -29.75% | 4.68% |
Correlation
The correlation between KMID and UCO is -0.22, 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 | -0.22 |
Correlation (All Time) Calculated using the full available price history since Oct 17, 2024 | -0.09 |
The correlation between KMID and UCO shifts across timeframes, from -0.22 (1 year) to -0.09 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
KMID vs. UCO — Risk / Return Rank
KMID
UCO
KMID vs. UCO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Virtus KAR Mid-Cap ETF (KMID) 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.
| KMID | UCO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.07 | ||
| Sortino ratioReturn per unit of downside risk | -2.28 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.32 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | 0.07 | 3.49 | -3.42 |
| Martin ratioReturn relative to average drawdown | 0.17 | 6.60 | -6.43 |
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
| KMID | UCO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.05 | 2.12 | -2.07 |
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 | -0.03 | -0.34 | +0.31 |
Drawdowns
KMID vs. UCO - Drawdown Comparison
The maximum KMID drawdown since its inception was -18.89%, smaller than the maximum UCO drawdown of -99.95%. Use the drawdown chart below to compare losses from any high point for KMID and UCO.
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Drawdown Indicators
| KMID | UCO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.89% | -99.95% | +81.06% |
Max Drawdown (1Y)Largest decline over 1 year | -10.71% | -34.77% | +24.06% |
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 | -5.28% | -99.23% | +93.95% |
Average DrawdownAverage peak-to-trough decline | -5.77% | -85.49% | +79.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.27% | 18.33% | -14.06% |
Volatility
KMID vs. UCO - Volatility Comparison
The current volatility for Virtus KAR Mid-Cap ETF (KMID) is 3.78%, while ProShares Ultra Bloomberg Crude Oil (UCO) has a volatility of 20.83%. This indicates that KMID 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
| KMID | UCO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.78% | 20.83% | -17.05% |
Volatility (6M)Calculated over the trailing 6-month period | 11.17% | 46.44% | -35.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.34% | 57.11% | -42.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.91% | 59.78% | -42.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.91% | 71.36% | -54.45% |
KMID vs. UCO - Expense Ratio Comparison
KMID has a 0.80% expense ratio, which is lower than UCO's 0.95% expense ratio.
Dividends
KMID vs. UCO - Dividend Comparison
KMID's dividend yield for the trailing twelve months is around 0.11%, while UCO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
KMID Virtus KAR Mid-Cap ETF | 0.11% | 0.06% | 0.05% |
UCO ProShares Ultra Bloomberg Crude Oil | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
KMID and UCO have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UCO has higher volatility (20.83%) compared to KMID (3.78%). In terms of maximum drawdown, KMID dropped -18.89% vs UCO's -99.95%.
On 1-year performance, UCO leads with 120.48% vs 0.73% for KMID. On fees, KMID is cheaper at 0.80% per year. On volatility, KMID has been the lower-risk option at 3.78%. 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 120.48% return vs 0.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KMID is cheaper with a 0.80% expense ratio, compared with 0.95% for UCO.
KMID has the higher dividend yield at 0.11%, compared with 0.00% for UCO.
KMID is categorized as Mid Cap Growth Equities, while UCO is Leveraged Commodities. They also come from different issuers: Virtus and ProShares. Their fees differ too: 0.80% for KMID and 0.95% for UCO.
UCO currently has the higher Sharpe Ratio (2.12 vs 0.05), 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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