KOLD vs. SCO
Compare and contrast key facts about ProShares UltraShort Bloomberg Natural Gas (KOLD) and ProShares UltraShort Bloomberg Crude Oil (SCO).
KOLD and SCO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. KOLD is a passively managed fund by ProShares that tracks the performance of the Bloomberg Natural Gas Subindex (TR) (200%). It was launched on Oct 4, 2011. SCO is a passively managed fund by ProShares that tracks the performance of the Bloomberg Commodity Balanced WTI Crude Oil Index (-200%). It was launched on Nov 24, 2008. Both KOLD and SCO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: KOLD or SCO.
Key characteristics
| KOLD | SCO | |
|---|---|---|
| YTD Return | 71.79% | -15.51% |
| 1Y Return | 182.15% | -10.81% |
| 3Y Return (Ann) | -0.79% | -34.55% |
| 5Y Return (Ann) | -19.79% | -42.69% |
| 10Y Return (Ann) | -5.53% | -26.97% |
| Sharpe Ratio | 2.00 | -0.24 |
| Sortino Ratio | 2.38 | -0.02 |
| Omega Ratio | 1.29 | 1.00 |
| Calmar Ratio | 2.03 | -0.11 |
| Martin Ratio | 7.62 | -0.54 |
| Ulcer Index | 25.75% | 21.09% |
| Daily Std Dev | 98.23% | 47.65% |
| Max Drawdown | -99.45% | -99.50% |
| Current Drawdown | -90.40% | -99.40% |
Correlation
The correlation between KOLD and SCO is 0.12, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
KOLD vs. SCO - Performance Comparison
In the year-to-date period, KOLD achieves a 71.79% return, which is significantly higher than SCO's -15.51% return. Over the past 10 years, KOLD has outperformed SCO with an annualized return of -5.53%, while SCO has yielded a comparatively lower -26.97% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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KOLD vs. SCO - Expense Ratio Comparison
Both KOLD and SCO have an expense ratio of 0.95%.
Risk-Adjusted Performance
KOLD vs. SCO - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Bloomberg Natural Gas (KOLD) and ProShares UltraShort Bloomberg Crude Oil (SCO). 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.
Dividends
KOLD vs. SCO - Dividend Comparison
Neither KOLD nor SCO has paid dividends to shareholders.
Drawdowns
KOLD vs. SCO - Drawdown Comparison
The maximum KOLD drawdown since its inception was -99.45%, roughly equal to the maximum SCO drawdown of -99.50%. Use the drawdown chart below to compare losses from any high point for KOLD and SCO. For additional features, visit the drawdowns tool.
Volatility
KOLD vs. SCO - Volatility Comparison
ProShares UltraShort Bloomberg Natural Gas (KOLD) has a higher volatility of 22.91% compared to ProShares UltraShort Bloomberg Crude Oil (SCO) at 16.67%. This indicates that KOLD's price experiences larger fluctuations and is considered to be riskier than SCO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.