SCO vs. DBC
SCO (ProShares UltraShort Bloomberg Crude Oil) and DBC (Invesco DB Commodity Index Tracking Fund) are both exchange-traded funds - SCO is a Oil & Gas fund tracking the Bloomberg Commodity Balanced WTI Crude Oil Index (-200%), while DBC is a Commodities fund tracking the DBIQ Optimum Yield Diversified Commodity Index Excess Return. Both are passively managed. Over the past 10 years, SCO returned -38.31%/yr vs 8.52%/yr for DBC. At a correlation of -0.87, they often move in opposite directions. SCO charges 0.95%/yr vs 0.85%/yr for DBC.
Performance
SCO vs. DBC - Performance Comparison
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Returns By Period
In the year-to-date period, SCO achieves a -63.25% return, which is significantly lower than DBC's 27.28% return. Over the past 10 years, SCO has underperformed DBC with an annualized return of -38.31%, while DBC has yielded a comparatively higher 8.52% annualized return.
SCO
- 1D
- 1.91%
- 1M
- -7.45%
- 6M
- -61.02%
- YTD
- -63.25%
- 1Y
- -57.90%
- 3Y*
- -32.51%
- 5Y*
- -39.94%
- 10Y*
- -38.31%
DBC
- 1D
- -1.15%
- 1M
- 2.01%
- 6M
- 22.67%
- YTD
- 27.28%
- 1Y
- 31.86%
- 3Y*
- 11.51%
- 5Y*
- 11.45%
- 10Y*
- 8.52%
SCO vs. DBC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SCO ProShares UltraShort Bloomberg Crude Oil | -63.25% | 15.90% | -19.00% | -12.41% | -62.59% | -72.62% | -4.20% | -58.50% | 19.22% | -22.40% |
DBC Invesco DB Commodity Index Tracking Fund | 27.28% | 8.10% | 2.18% | -6.19% | 19.34% | 41.36% | -7.84% | 11.84% | -11.63% | 4.86% |
Correlation
The correlation between SCO and DBC is -0.88, 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 | -0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.91 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.89 |
Correlation (All Time) Calculated using the full available price history since Nov 25, 2008 | -0.87 |
The correlation between SCO and DBC has been stable across timeframes, ranging from -0.91 to -0.87 - a consistent structural relationship.
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Return for Risk
SCO vs. DBC — Risk / Return Rank
SCO
DBC
SCO vs. DBC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Bloomberg Crude Oil (SCO) and Invesco DB Commodity Index Tracking Fund (DBC). 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 | DBC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.70 | ||
| Sortino ratioReturn per unit of downside risk | -3.95 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 1.29 | -0.47 |
| Calmar ratioReturn relative to maximum drawdown | -0.80 | 1.94 | -2.74 |
| Martin ratioReturn relative to average drawdown | -1.45 | 6.62 | -8.07 |
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Drawdowns
SCO vs. DBC - Drawdown Comparison
The maximum SCO drawdown since its inception was -99.80%, which is greater than DBC's maximum drawdown of -76.36%. Use the drawdown chart below to compare losses from any high point for SCO and DBC.
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Drawdown Indicators
| SCO | DBC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.80% | -76.36% | -23.44% |
Max Drawdown (1Y)Largest decline over 1 year | -72.24% | -16.54% | -55.70% |
Max Drawdown (3Y)Largest decline over 3 years | -74.64% | -16.54% | -58.10% |
Max Drawdown (5Y)Largest decline over 5 years | -94.80% | -27.34% | -67.46% |
Max Drawdown (10Y)Largest decline over 10 years | -99.51% | -41.71% | -57.80% |
Current DrawdownCurrent decline from peak | -99.76% | -26.37% | -73.39% |
Average DrawdownAverage peak-to-trough decline | -85.25% | -46.12% | -39.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 39.97% | 4.82% | +35.15% |
Volatility
SCO vs. DBC - Volatility Comparison
ProShares UltraShort Bloomberg Crude Oil (SCO) has a higher volatility of 20.88% compared to Invesco DB Commodity Index Tracking Fund (DBC) at 6.03%. This indicates that SCO's price experiences larger fluctuations and is considered to be riskier than DBC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SCO | DBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 20.88% | 6.03% | +14.85% |
Volatility (6M)Calculated over the trailing 6-month period | 49.34% | 16.71% | +32.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.86% | 18.85% | +39.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 60.40% | 19.29% | +41.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.79% | 17.80% | +53.99% |
SCO vs. DBC - Expense Ratio Comparison
SCO has a 0.95% expense ratio, which is higher than DBC's 0.85% expense ratio.
Dividends
SCO vs. DBC - Dividend Comparison
SCO has not paid dividends to shareholders, while DBC's dividend yield for the trailing twelve months is around 2.61%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DBC Invesco DB Commodity Index Tracking Fund | 2.61% | 3.33% | 5.22% | 4.94% | 0.59% | 0.00% | 0.00% | 1.59% | 1.30% |
SCO ProShares UltraShort Bloomberg Crude Oil | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SCO and DBC have a correlation of -0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SCO has higher volatility (20.88%) compared to DBC (6.03%). In terms of maximum drawdown, SCO dropped -99.80% vs DBC's -76.36%.
On 10-year performance, DBC leads with 8.52% vs -38.31% for SCO. On fees, DBC is cheaper at 0.85% per year. On volatility, DBC has been the lower-risk option at 6.03%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DBC has performed better with a 8.52% return vs -38.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DBC is cheaper with a 0.85% expense ratio, compared with 0.95% for SCO.
DBC has the higher dividend yield at 2.61%, compared with 0.00% for SCO.
SCO is categorized as Oil & Gas, while DBC is Commodities. SCO tracks Bloomberg Commodity Balanced WTI Crude Oil Index (-200%), while DBC tracks DBIQ Optimum Yield Diversified Commodity Index Excess Return. They also come from different issuers: ProShares and Invesco. Their fees differ too: 0.95% for SCO and 0.85% for DBC.
DBC currently has the higher Sharpe Ratio (1.70 vs -1.00), 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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