PFFL vs. UCO
PFFL (ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN) and UCO (ProShares Ultra Bloomberg Crude Oil) are both exchange-traded funds - PFFL is a Preferred Stock/Convertible Bonds fund tracking the Solactive Preferred Stock ETF Index, while UCO is a Oil & Gas fund tracking the Bloomberg Commodity Balanced WTI Crude Oil Index (200%). Both are passively managed. Over the past 5 years, PFFL returned -6.57%/yr vs 12.42%/yr for UCO. At a 0.12 correlation, their price movements are largely independent. PFFL charges 0.85%/yr vs 0.95%/yr for UCO.
Performance
PFFL vs. UCO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PFFL achieves a -1.90% return, which is significantly lower than UCO's 81.88% return.
PFFL
- 1D
- -0.19%
- 1M
- -1.40%
- YTD
- -1.90%
- 6M
- -2.44%
- 1Y
- 4.83%
- 3Y*
- 4.18%
- 5Y*
- -6.57%
- 10Y*
- —
UCO
- 1D
- -1.26%
- 1M
- -25.61%
- YTD
- 81.88%
- 6M
- 76.32%
- 1Y
- 42.04%
- 3Y*
- 15.38%
- 5Y*
- 12.42%
- 10Y*
- 19.46%
PFFL vs. UCO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
PFFL ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN | -1.90% | 2.18% | 4.77% | 8.65% | -39.15% | 7.52% | -15.47% | 30.21% | -10.77% |
UCO ProShares Ultra Bloomberg Crude Oil | 81.88% | -29.75% | 5.36% | -13.89% | 39.71% | 139.26% | 77.27% | 53.83% | -61.85% |
Correlation
The correlation between PFFL and UCO is -0.15, 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 | -0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Sep 26, 2018 | 0.12 |
The correlation between PFFL and UCO shifts across timeframes, from -0.15 (1 year) to 0.12 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
PFFL vs. UCO — Risk / Return Rank
PFFL
UCO
PFFL vs. UCO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN (PFFL) 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.
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.
| PFFL | UCO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.47 | ||
| Sortino ratioReturn per unit of downside risk | -0.79 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.16 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 0.41 | 1.30 | -0.90 |
| Martin ratioReturn relative to average drawdown | 0.94 | 2.61 | -1.67 |
Loading charts...
Drawdowns
PFFL vs. UCO - Drawdown Comparison
The maximum PFFL drawdown since its inception was -80.68%, smaller than the maximum UCO drawdown of -99.86%. Use the drawdown chart below to compare losses from any high point for PFFL and UCO.
Loading charts...
Drawdown Indicators
| PFFL | UCO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.68% | -99.86% | +19.18% |
Max Drawdown (1Y)Largest decline over 1 year | -11.92% | -32.37% | +20.45% |
Max Drawdown (3Y)Largest decline over 3 years | -23.75% | -50.38% | +26.63% |
Max Drawdown (5Y)Largest decline over 5 years | -48.51% | -67.24% | +18.73% |
Max Drawdown (10Y)Largest decline over 10 years | — | -96.50% | — |
Current DrawdownCurrent decline from peak | -39.57% | -85.89% | +46.32% |
Average DrawdownAverage peak-to-trough decline | -28.59% | -82.11% | +53.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.14% | 16.23% | -11.09% |
Volatility
PFFL vs. UCO - Volatility Comparison
The current volatility for ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN (PFFL) is 4.10%, while ProShares Ultra Bloomberg Crude Oil (UCO) has a volatility of 16.11%. This indicates that PFFL 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.
Loading charts...
Volatility by Period
| PFFL | UCO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.10% | 16.11% | -12.01% |
Volatility (6M)Calculated over the trailing 6-month period | 10.67% | 48.06% | -37.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.12% | 57.57% | -40.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.66% | 60.09% | -36.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 55.16% | 317.77% | -262.61% |
PFFL vs. UCO - Expense Ratio Comparison
PFFL has a 0.85% expense ratio, which is lower than UCO's 0.95% expense ratio.
Dividends
PFFL vs. UCO - Dividend Comparison
PFFL's dividend yield for the trailing twelve months is around 13.14%, while UCO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
PFFL ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN | 13.14% | 13.27% | 13.76% | 13.71% | 13.90% | 8.82% | 9.75% | 11.21% | 2.02% |
UCO ProShares Ultra Bloomberg Crude Oil | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PFFL and UCO have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UCO has higher volatility (16.11%) compared to PFFL (4.10%). In terms of maximum drawdown, PFFL dropped -80.68% vs UCO's -99.86%.
On 5-year performance, UCO leads with 12.42% vs -6.57% for PFFL. On fees, PFFL is cheaper at 0.85% per year. On volatility, PFFL has been the lower-risk option at 4.10%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, UCO has performed better with a 12.42% return vs -6.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PFFL is cheaper with a 0.85% expense ratio, compared with 0.95% for UCO.
PFFL has the higher dividend yield at 13.14%, compared with 0.00% for UCO.
PFFL is categorized as Preferred Stock/Convertible Bonds, while UCO is Oil & Gas. PFFL tracks Solactive Preferred Stock ETF Index, while UCO tracks Bloomberg Commodity Balanced WTI Crude Oil Index (200%). They also come from different issuers: UBS and ProShares. Their fees differ too: 0.85% for PFFL and 0.95% for UCO.
UCO currently has the higher Sharpe Ratio (0.75 vs 0.28), 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.
Find the right allocation for PFFL and UCO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer