OILK vs. SCO
OILK (ProShares K-1 Free Crude Oil ETF) and SCO (ProShares UltraShort Bloomberg Crude Oil) are both Oil & Gas funds from ProShares - OILK tracks the Bloomberg Commodity Balanced WTI Crude Oil Index while SCO tracks the Bloomberg Commodity Balanced WTI Crude Oil Index (-200%). Both are passively managed. Over the past 5 years, OILK returned 15.25%/yr vs -40.42%/yr for SCO. Their -0.99 correlation means they have often moved in opposite directions in the past. OILK charges 0.69%/yr vs 0.95%/yr for SCO.
Performance
OILK vs. SCO - Performance Comparison
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Returns By Period
In the year-to-date period, OILK achieves a 47.49% return, which is significantly higher than SCO's -63.08% return.
OILK
- 1D
- -3.24%
- 1M
- 8.88%
- 6M
- 37.83%
- YTD
- 47.49%
- 1Y
- 33.62%
- 3Y*
- 9.71%
- 5Y*
- 15.25%
- 10Y*
- —
- ALL TIME*
- 3.29%
SCO
- 1D
- 6.67%
- 1M
- -18.70%
- 6M
- -56.98%
- YTD
- -63.08%
- 1Y
- -55.91%
- 3Y*
- -27.73%
- 5Y*
- -40.42%
- 10Y*
- -39.32%
- ALL TIME*
- -25.81%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $8.74M | $7.86M | $10.67M | |
| $133.98M | $126.85M | $245.35M |
OILK vs. SCO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
OILK ProShares K-1 Free Crude Oil ETF | 47.49% | -11.86% | 8.18% | -0.97% | 27.57% | 63.71% | -61.09% | 30.48% | -20.40% | 2.82% |
SCO ProShares UltraShort Bloomberg Crude Oil | -63.08% | 15.90% | -19.00% | -12.41% | -62.59% | -72.62% | -4.20% | -58.50% | 19.22% | -22.40% |
Correlation
The correlation between OILK and SCO is -1.00, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -1.00 |
Correlation (3Y) Balances recent behavior with more history. | -1.00 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -1.00 |
Correlation (All Time) Calculated using the full available price history since Sep 28, 2016 | -0.99 |
The correlation between OILK and SCO has been stable across timeframes, ranging from -1.00 to -0.99 - a consistent structural relationship.
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Return for Risk
OILK vs. SCO — Risk / Return Rank
OILK
SCO
OILK vs. SCO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares K-1 Free Crude Oil ETF (OILK) 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.
| OILK | SCO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.06 | ||
| Sortino ratioReturn per unit of downside risk | +3.10 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 0.84 | +0.36 |
| Calmar ratioReturn relative to maximum drawdown | 1.59 | -0.78 | +2.37 |
| Martin ratioReturn relative to average drawdown | 4.49 | -1.31 | +5.81 |
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Drawdowns
OILK vs. SCO - Drawdown Comparison
The maximum OILK drawdown since its inception was -83.76%, smaller than the maximum SCO drawdown of -99.80%. Use the drawdown chart below to compare losses from any high point for OILK and SCO.
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Drawdown Indicators
| OILK | SCO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.76% | -99.80% | +16.04% |
Max Drawdown (1Y)Largest decline over 1 year | -21.19% | -72.24% | +51.05% |
Max Drawdown (3Y)Largest decline over 3 years | -23.42% | -74.64% | +51.22% |
Max Drawdown (5Y)Largest decline over 5 years | -34.69% | -94.80% | +60.11% |
Max Drawdown (10Y)Largest decline over 10 years | — | -99.50% | — |
Current DrawdownCurrent decline from peak | -13.47% | -99.76% | +86.29% |
Average DrawdownAverage peak-to-trough decline | -32.27% | -85.29% | +53.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.52% | 42.59% | -35.07% |
Volatility
OILK vs. SCO - Volatility Comparison
The current volatility for ProShares K-1 Free Crude Oil ETF (OILK) is 11.95%, while ProShares UltraShort Bloomberg Crude Oil (SCO) has a volatility of 24.55%. This indicates that OILK experiences smaller price fluctuations and is considered to be less risky 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
| OILK | SCO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.95% | 24.55% | -12.60% |
Volatility (6M)Calculated over the trailing 6-month period | 26.22% | 51.73% | -25.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.24% | 59.75% | -29.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.48% | 60.47% | -29.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.00% | 71.90% | -35.90% |
OILK vs. SCO - Expense Ratio Comparison
OILK has a 0.69% expense ratio, which is lower than SCO's 0.95% expense ratio.
Dividends
OILK vs. SCO - Dividend Comparison
OILK's dividend yield for the trailing twelve months is around 11.51%, while SCO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
OILK ProShares K-1 Free Crude Oil ETF | 11.51% | 4.79% | 3.11% | 5.80% | 17.32% | 68.82% | 0.13% | 0.94% | 0.58% | 6.17% |
SCO ProShares UltraShort Bloomberg Crude Oil | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
OILK and SCO have a correlation of -1.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SCO has higher volatility (24.55%) compared to OILK (11.95%). In terms of maximum drawdown, OILK dropped -83.76% vs SCO's -99.80%.
On 5-year performance, OILK leads with 15.25% vs -40.42% for SCO. On fees, OILK is cheaper at 0.69% per year. On volatility, OILK has been the lower-risk option at 11.95%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, OILK has performed better with a 15.25% return vs -40.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
OILK is cheaper with a 0.69% expense ratio, compared with 0.95% for SCO.
OILK has the higher dividend yield at 11.51%, compared with 0.00% for SCO.
OILK tracks Bloomberg Commodity Balanced WTI Crude Oil Index, while SCO tracks Bloomberg Commodity Balanced WTI Crude Oil Index (-200%). Their fees differ too: 0.69% for OILK and 0.95% for SCO.
OILK currently has the higher Sharpe Ratio (1.12 vs -0.94), 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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