QTOP vs. UCO
QTOP (iShares Nasdaq Top 30 Stocks ETF) and UCO (ProShares Ultra Bloomberg Crude Oil) are both exchange-traded funds - QTOP is a Nasdaq-100 fund tracking the Nasdaq-100 Top 30 Index, while UCO is a Leveraged Commodities fund tracking the Dow Jones-UBS Crude Oil Sub-Index (200%). Both are passively managed. Over the past year, QTOP returned 45.99% vs 120.48% for UCO. At a correlation of -0.07, they often move in opposite directions. QTOP charges 0.20%/yr vs 0.95%/yr for UCO.
Performance
QTOP vs. UCO - Performance Comparison
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Returns By Period
In the year-to-date period, QTOP achieves a 22.71% return, which is significantly lower than UCO's 149.12% return.
QTOP
- 1D
- -0.21%
- 1M
- 10.74%
- YTD
- 22.71%
- 6M
- 21.95%
- 1Y
- 45.99%
- 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%
QTOP vs. UCO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
QTOP iShares Nasdaq Top 30 Stocks ETF | 22.71% | 22.19% | 5.80% |
UCO ProShares Ultra Bloomberg Crude Oil | 149.12% | -29.75% | 2.57% |
Correlation
The correlation between QTOP and UCO is -0.25, 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 | -0.25 |
Correlation (All Time) Calculated using the full available price history since Oct 25, 2024 | -0.07 |
The correlation between QTOP and UCO shifts across timeframes, from -0.25 (1 year) to -0.07 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
QTOP vs. UCO — Risk / Return Rank
QTOP
UCO
QTOP vs. UCO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Nasdaq Top 30 Stocks ETF (QTOP) 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.
| QTOP | UCO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.53 | ||
| Sortino ratioReturn per unit of downside risk | +0.98 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.32 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 3.59 | 3.49 | +0.10 |
| Martin ratioReturn relative to average drawdown | 13.20 | 6.60 | +6.61 |
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
| QTOP | UCO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.66 | 2.12 | +0.53 |
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 | 1.48 | -0.34 | +1.82 |
Drawdowns
QTOP vs. UCO - Drawdown Comparison
The maximum QTOP drawdown since its inception was -23.28%, smaller than the maximum UCO drawdown of -99.95%. Use the drawdown chart below to compare losses from any high point for QTOP and UCO.
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Drawdown Indicators
| QTOP | UCO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.28% | -99.95% | +76.67% |
Max Drawdown (1Y)Largest decline over 1 year | -12.88% | -34.77% | +21.89% |
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 | -0.21% | -99.23% | +99.02% |
Average DrawdownAverage peak-to-trough decline | -3.82% | -85.49% | +81.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.49% | 18.33% | -14.84% |
Volatility
QTOP vs. UCO - Volatility Comparison
The current volatility for iShares Nasdaq Top 30 Stocks ETF (QTOP) is 5.23%, while ProShares Ultra Bloomberg Crude Oil (UCO) has a volatility of 20.83%. This indicates that QTOP 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
| QTOP | UCO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.23% | 20.83% | -15.60% |
Volatility (6M)Calculated over the trailing 6-month period | 13.43% | 46.44% | -33.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.40% | 57.11% | -39.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.70% | 59.78% | -37.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.70% | 71.36% | -48.66% |
QTOP vs. UCO - Expense Ratio Comparison
QTOP has a 0.20% expense ratio, which is lower than UCO's 0.95% expense ratio.
Dividends
QTOP vs. UCO - Dividend Comparison
QTOP's dividend yield for the trailing twelve months is around 0.32%, while UCO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
QTOP iShares Nasdaq Top 30 Stocks ETF | 0.32% | 0.38% | 0.11% |
UCO ProShares Ultra Bloomberg Crude Oil | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
QTOP and UCO have a correlation of -0.25, 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 QTOP (5.23%). In terms of maximum drawdown, QTOP dropped -23.28% vs UCO's -99.95%.
On 1-year performance, UCO leads with 120.48% vs 45.99% for QTOP. On fees, QTOP is cheaper at 0.20% per year. On volatility, QTOP has been the lower-risk option at 5.23%. 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 45.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QTOP is cheaper with a 0.20% expense ratio, compared with 0.95% for UCO.
QTOP has the higher dividend yield at 0.32%, compared with 0.00% for UCO.
QTOP is categorized as Nasdaq-100, while UCO is Leveraged Commodities. QTOP tracks Nasdaq-100 Top 30 Index, while UCO tracks Dow Jones-UBS Crude Oil Sub-Index (200%). They also come from different issuers: iShares and ProShares. Their fees differ too: 0.20% for QTOP and 0.95% for UCO.
QTOP currently has the higher Sharpe Ratio (2.66 vs 2.12), 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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