SCO vs. COPZ

Last updated Aug 2, 2026

SCO (ProShares UltraShort Bloomberg Crude Oil) and COPZ (Defiance Daily Target 2X Long Copper ETF) are both exchange-traded funds - SCO is a Oil & Gas fund tracking the Bloomberg Commodity Balanced WTI Crude Oil Index (-200%), while COPZ is a Copper fund actively managed by Defiance. SCO is passively managed, while COPZ is actively managed. Their 0.37 correlation means their historical movements had little consistent relationship. Both charge a 0.95% expense ratio.

Performance

SCO vs. COPZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort Bloomberg Crude Oil (SCO) and Defiance Daily Target 2X Long Copper ETF (COPZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SCO

• 1D: -1.02%
• 1M: -23.78%
• 6M: -55.81%
• YTD: -65.39%
• 1Y: -58.66%
• 3Y*: -29.81%
• 5Y*: -39.67%
• 10Y*: -40.39%
• ALL TIME*: -26.09%

COPZ

• 1D: -1.83%
• 1M: 4.49%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
COPZ Defiance Daily Target 2X Long Copper ETF	$216.59K	$238.58K	$612.59K
SCO ProShares UltraShort Bloomberg Crude Oil	$131.70M	$126.01M	$253.57M

SCO vs. COPZ - Yearly Performance Comparison

	2026 (YTD)
SCO ProShares UltraShort Bloomberg Crude Oil	-58.41%
COPZ Defiance Daily Target 2X Long Copper ETF	-33.13%

Correlation

The correlation between SCO and COPZ is 0.37, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 18, 2026	0.37

Return for Risk

SCO vs. COPZ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SCO

SCO Risk / Return Rank: 2
SCO Sharpe Ratio Rank: 2
SCO Sortino Ratio Rank: 2
SCO Omega Ratio Rank: 2
SCO Calmar Ratio Rank: 3
SCO Martin Ratio Rank: 2

COPZ

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SCO vs. COPZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Bloomberg Crude Oil (SCO) and Defiance Daily Target 2X Long Copper ETF (COPZ). 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.

	SCO	COPZ	Difference
Sharpe ratio: Return per unit of total volatility	-0.94	—	—
Sortino ratio: Return per unit of downside risk	-1.49	—	—
Omega ratio: Gain probability vs. loss probability	0.84	—	—
Calmar ratio: Return relative to maximum drawdown	-0.78	—	—
Martin ratio: Return relative to average drawdown	-1.32	—	—

Drawdowns

SCO vs. COPZ - Drawdown Comparison

The maximum SCO drawdown since its inception was -99.80%, which is greater than COPZ's maximum drawdown of -51.59%. Use the drawdown chart below to compare losses from any high point for SCO and COPZ.

Drawdown Indicators

	SCO	COPZ	Difference
Max Drawdown Largest peak-to-trough decline	-99.80%	-51.59%	-48.21%
Max Drawdown (1Y) Largest decline over 1 year	-72.24%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-74.64%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-94.80%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-99.50%	—	—
Current Drawdown Current decline from peak	-99.77%	-44.74%	-55.03%
Average Drawdown Average peak-to-trough decline	-85.28%	-33.10%	-52.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	42.39%	—	—

Volatility

Volatility by Period

	SCO	COPZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	23.27%	—	—
Volatility (6M) Calculated over the trailing 6-month period	51.24%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	59.66%	106.63%	-46.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	60.43%	106.63%	-46.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	71.89%	106.63%	-34.74%

SCO vs. COPZ - Expense Ratio Comparison

Both SCO and COPZ have an expense ratio of 0.95%.

Dividends

SCO vs. COPZ - Dividend Comparison

Neither SCO nor COPZ has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SCO and COPZ in my portfolio?

SCO and COPZ have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SCO or COPZ?

Both ETFs have the same 0.95% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SCO or COPZ?

SCO and COPZ have the same expense ratio: 0.95% per year.

Which ETF pays a higher dividend yield, SCO or COPZ?

SCO and COPZ have nearly identical dividend yields, around 0.00%.

What is the main difference between SCO and COPZ?

SCO is categorized as Oil & Gas, while COPZ is Copper. They also come from different issuers: ProShares and Defiance.