SCO vs. CPXR
SCO (ProShares UltraShort Bloomberg Crude Oil) and CPXR (USCF Daily Target 2X Copper Index ETF) are both Leveraged Commodities funds - SCO tracks the Bloomberg Commodity Balanced WTI Crude Oil Index (-200%) while CPXR tracks the SummerHaven Copper Index. Both are passively managed. Over the past year, SCO returned -68.07% vs 37.97% for CPXR. At a correlation of -0.04, they often move in opposite directions. SCO charges 0.95%/yr vs 1.20%/yr for CPXR.
Performance
SCO vs. CPXR - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SCO achieves a -68.52% return, which is significantly lower than CPXR's 21.61% return.
SCO
- 1D
- -2.80%
- 1M
- 0.04%
- YTD
- -68.52%
- 6M
- -67.29%
- 1Y
- -68.07%
- 3Y*
- -37.96%
- 5Y*
- -42.81%
- 10Y*
- -38.69%
CPXR
- 1D
- -5.10%
- 1M
- 21.98%
- YTD
- 21.61%
- 6M
- 34.31%
- 1Y
- 37.97%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SCO vs. CPXR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SCO ProShares UltraShort Bloomberg Crude Oil | -68.52% | 26.43% |
CPXR USCF Daily Target 2X Copper Index ETF | 21.61% | 36.03% |
Correlation
The correlation between SCO and CPXR is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Jan 23, 2025 | -0.04 |
The correlation between SCO and CPXR shifts across timeframes, from -0.04 (all time) to 0.07 (1 year), 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
SCO vs. CPXR — Risk / Return Rank
SCO
CPXR
SCO vs. CPXR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Bloomberg Crude Oil (SCO) and USCF Daily Target 2X Copper Index ETF (CPXR). 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.
| SCO | CPXR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.76 | ||
| Sortino ratioReturn per unit of downside risk | -3.45 | ||
| Omega ratioGain probability vs. loss probability | 0.75 | 1.18 | -0.43 |
| Calmar ratioReturn relative to maximum drawdown | -0.94 | 0.80 | -1.74 |
| Martin ratioReturn relative to average drawdown | -1.97 | 1.47 | -3.44 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| SCO | CPXR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.20 | 0.55 | -1.76 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.72 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.54 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.38 | 0.66 | -1.04 |
Drawdowns
SCO vs. CPXR - Drawdown Comparison
The maximum SCO drawdown since its inception was -99.80%, which is greater than CPXR's maximum drawdown of -47.87%. Use the drawdown chart below to compare losses from any high point for SCO and CPXR.
Loading charts...
Drawdown Indicators
| SCO | CPXR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.80% | -47.87% | -51.93% |
Max Drawdown (1Y)Largest decline over 1 year | -72.24% | -47.87% | -24.37% |
Max Drawdown (3Y)Largest decline over 3 years | -79.85% | — | — |
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 | -99.79% | -5.10% | -94.69% |
Average DrawdownAverage peak-to-trough decline | -85.17% | -19.88% | -65.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 34.60% | 25.94% | +8.66% |
Volatility
SCO vs. CPXR - Volatility Comparison
ProShares UltraShort Bloomberg Crude Oil (SCO) has a higher volatility of 20.05% compared to USCF Daily Target 2X Copper Index ETF (CPXR) at 18.75%. This indicates that SCO's price experiences larger fluctuations and is considered to be riskier than CPXR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SCO | CPXR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 20.05% | 18.75% | +1.30% |
Volatility (6M)Calculated over the trailing 6-month period | 45.60% | 45.26% | +0.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 56.64% | 68.77% | -12.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 59.74% | 68.61% | -8.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.95% | 68.61% | +3.34% |
SCO vs. CPXR - Expense Ratio Comparison
SCO has a 0.95% expense ratio, which is lower than CPXR's 1.20% expense ratio.
Dividends
SCO vs. CPXR - Dividend Comparison
SCO has not paid dividends to shareholders, while CPXR's dividend yield for the trailing twelve months is around 0.58%.
| Position | TTM | 2025 |
|---|---|---|
CPXR USCF Daily Target 2X Copper Index ETF | 0.58% | 0.70% |
SCO ProShares UltraShort Bloomberg Crude Oil | 0.00% | 0.00% |
Frequently Asked Questions
SCO and CPXR have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SCO has higher volatility (20.05%) compared to CPXR (18.75%). In terms of maximum drawdown, SCO dropped -99.80% vs CPXR's -47.87%.
On 1-year performance, CPXR leads with 37.97% vs -68.07% for SCO. On fees, SCO is cheaper at 0.95% per year. On volatility, CPXR has been the lower-risk option at 18.75%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, CPXR has performed better with a 37.97% return vs -68.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCO is cheaper with a 0.95% expense ratio, compared with 1.20% for CPXR.
CPXR has the higher dividend yield at 0.58%, compared with 0.00% for SCO.
SCO tracks Bloomberg Commodity Balanced WTI Crude Oil Index (-200%), while CPXR tracks SummerHaven Copper Index. They also come from different issuers: ProShares and USCF. Their fees differ too: 0.95% for SCO and 1.20% for CPXR.
CPXR currently has the higher Sharpe Ratio (0.55 vs -1.20), 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 SCO and CPXR
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