SCO vs. DRIP
Compare and contrast key facts about ProShares UltraShort Bloomberg Crude Oil (SCO) and Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP).
SCO and DRIP are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SCO is a passively managed fund by ProShares that tracks the performance of the Bloomberg Commodity Balanced WTI Crude Oil Index (-200%). It was launched on Nov 24, 2008. DRIP is a passively managed fund by Direxion that tracks the performance of the S&P Oil & Gas Exploration & Production Select Industry Index (-300%). It was launched on Apr 1, 2020. Both SCO and DRIP are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SCO or DRIP.
Key characteristics
| SCO | DRIP | |
|---|---|---|
| YTD Return | -18.86% | -17.17% |
| 1Y Return | -42.17% | -44.35% |
| 3Y Return (Ann) | -47.10% | -54.84% |
| 5Y Return (Ann) | -44.26% | -53.07% |
| Sharpe Ratio | -0.88 | -0.91 |
| Daily Std Dev | 48.10% | 46.69% |
| Max Drawdown | -99.50% | -99.90% |
| Current Drawdown | -99.43% | -99.88% |
Correlation
The correlation between SCO and DRIP is 0.66, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
SCO vs. DRIP - Performance Comparison
In the year-to-date period, SCO achieves a -18.86% return, which is significantly lower than DRIP's -17.17% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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SCO vs. DRIP - Expense Ratio Comparison
SCO has a 0.95% expense ratio, which is lower than DRIP's 1.07% expense ratio.
Risk-Adjusted Performance
SCO vs. DRIP - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Bloomberg Crude Oil (SCO) and Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP). 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.
Dividends
SCO vs. DRIP - Dividend Comparison
SCO has not paid dividends to shareholders, while DRIP's dividend yield for the trailing twelve months is around 5.24%.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|
SCO ProShares UltraShort Bloomberg Crude Oil | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
DRIP Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares | 5.24% | 5.09% | 0.00% | 0.00% | 0.01% | 0.96% | 0.58% |
Drawdowns
SCO vs. DRIP - Drawdown Comparison
The maximum SCO drawdown since its inception was -99.50%, roughly equal to the maximum DRIP drawdown of -99.90%. Use the drawdown chart below to compare losses from any high point for SCO and DRIP. For additional features, visit the drawdowns tool.
Volatility
SCO vs. DRIP - Volatility Comparison
The current volatility for ProShares UltraShort Bloomberg Crude Oil (SCO) is 8.36%, while Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP) has a volatility of 11.45%. This indicates that SCO experiences smaller price fluctuations and is considered to be less risky than DRIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.