OILD vs. SCO
OILD (MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs) and SCO (ProShares UltraShort Bloomberg Crude Oil) are both exchange-traded funds - OILD is a Inverse Equities fund tracking the Solactive MicroSectors Oil & Gas Exploration & Production Index (-300%), while SCO is a Oil & Gas fund tracking the Bloomberg Commodity Balanced WTI Crude Oil Index (-200%). Both are passively managed. Over the past 3 years, OILD returned -45.26%/yr vs -32.52%/yr for SCO. A 0.66 correlation means they provide meaningful diversification when combined. Both charge a 0.95% expense ratio.
Performance
OILD vs. SCO - Performance Comparison
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Returns By Period
In the year-to-date period, OILD achieves a -51.67% return, which is significantly higher than SCO's -58.29% return.
OILD
- 1D
- -4.08%
- 1M
- 28.36%
- YTD
- -51.67%
- 6M
- -53.32%
- 1Y
- -58.26%
- 3Y*
- -45.26%
- 5Y*
- —
- 10Y*
- —
SCO
- 1D
- 2.76%
- 1M
- 28.62%
- YTD
- -58.29%
- 6M
- -57.59%
- 1Y
- -44.99%
- 3Y*
- -32.52%
- 5Y*
- -38.26%
- 10Y*
- -37.19%
OILD vs. SCO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
OILD MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs | -51.67% | -41.67% | -14.58% | -19.58% | -90.32% | 3.83% |
SCO ProShares UltraShort Bloomberg Crude Oil | -58.29% | 15.90% | -19.00% | -12.41% | -62.59% | -0.47% |
Correlation
The correlation between OILD and SCO is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.65 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Nov 9, 2021 | 0.66 |
The correlation between OILD and SCO has been stable across timeframes, ranging from 0.63 to 0.66 - a consistent structural relationship.
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Return for Risk
OILD vs. SCO — Risk / Return Rank
OILD
SCO
OILD vs. SCO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs (OILD) 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| OILD | SCO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.45 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 0.88 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | -0.78 | -0.62 | -0.16 |
| Martin ratioReturn relative to average drawdown | -1.32 | -1.22 | -0.09 |
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Drawdowns
OILD vs. SCO - Drawdown Comparison
The maximum OILD drawdown since its inception was -98.90%, roughly equal to the maximum SCO drawdown of -99.80%. Use the drawdown chart below to compare losses from any high point for OILD and SCO.
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Drawdown Indicators
| OILD | SCO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.90% | -99.80% | +0.90% |
Max Drawdown (1Y)Largest decline over 1 year | -74.53% | -72.24% | -2.29% |
Max Drawdown (3Y)Largest decline over 3 years | -88.53% | -78.76% | -9.77% |
Max Drawdown (5Y)Largest decline over 5 years | — | -94.80% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -99.51% | — |
Current DrawdownCurrent decline from peak | -98.43% | -99.72% | +1.29% |
Average DrawdownAverage peak-to-trough decline | -88.66% | -85.19% | -3.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 44.27% | 36.81% | +7.46% |
Volatility
OILD vs. SCO - Volatility Comparison
MicroSectorsTM Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs (OILD) has a higher volatility of 21.38% compared to ProShares UltraShort Bloomberg Crude Oil (SCO) at 15.97%. This indicates that OILD'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.
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Volatility by Period
| OILD | SCO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.38% | 15.97% | +5.41% |
Volatility (6M)Calculated over the trailing 6-month period | 49.66% | 47.16% | +2.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 62.70% | 57.21% | +5.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 79.40% | 60.04% | +19.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 79.40% | 71.95% | +7.45% |
OILD vs. SCO - Expense Ratio Comparison
Both OILD and SCO have an expense ratio of 0.95%.
Dividends
OILD vs. SCO - Dividend Comparison
Neither OILD nor SCO has paid dividends to shareholders.
Frequently Asked Questions
OILD and SCO have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OILD has higher volatility (21.38%) compared to SCO (15.97%). In terms of maximum drawdown, OILD dropped -98.90% vs SCO's -99.80%.
On 3-year performance, SCO leads with -32.52% vs -45.26% for OILD. Both ETFs have the same 0.95% expense ratio. On volatility, SCO has been the lower-risk option at 15.97%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, SCO has performed better with a -32.52% return vs -45.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
OILD and SCO have the same expense ratio: 0.95% per year.
OILD and SCO have nearly identical dividend yields, around 0.00%.
OILD is categorized as Inverse Equities, while SCO is Oil & Gas. OILD tracks Solactive MicroSectors Oil & Gas Exploration & Production Index (-300%), while SCO tracks Bloomberg Commodity Balanced WTI Crude Oil Index (-200%). They also come from different issuers: REX and ProShares.
SCO currently has the higher Sharpe Ratio (-0.79 vs -0.93), 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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