SCO vs. FTGC
SCO (ProShares UltraShort Bloomberg Crude Oil) and FTGC (First Trust Global Tactical Commodity Strategy Fund) are both exchange-traded funds - SCO is a Oil & Gas fund tracking the Bloomberg Commodity Balanced WTI Crude Oil Index (-200%), while FTGC is a Commodities fund actively managed by First Trust. SCO is passively managed, while FTGC is actively managed. Over the past 10 years, SCO returned -36.90%/yr vs 7.08%/yr for FTGC. At a correlation of -0.67, they often move in opposite directions. Both charge a 0.95% expense ratio.
Performance
SCO vs. FTGC - Performance Comparison
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Returns By Period
In the year-to-date period, SCO achieves a -59.41% return, which is significantly lower than FTGC's 20.51% return. Over the past 10 years, SCO has underperformed FTGC with an annualized return of -36.90%, while FTGC has yielded a comparatively higher 7.08% annualized return.
SCO
- 1D
- -0.09%
- 1M
- 27.56%
- YTD
- -59.41%
- 6M
- -60.52%
- 1Y
- -46.47%
- 3Y*
- -32.01%
- 5Y*
- -39.29%
- 10Y*
- -36.90%
FTGC
- 1D
- -0.33%
- 1M
- -6.35%
- YTD
- 20.51%
- 6M
- 22.09%
- 1Y
- 27.15%
- 3Y*
- 13.64%
- 5Y*
- 12.88%
- 10Y*
- 7.08%
SCO vs. FTGC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SCO ProShares UltraShort Bloomberg Crude Oil | -59.41% | 15.90% | -19.00% | -12.41% | -62.59% | -72.62% | -4.20% | -58.50% | 19.22% | -22.40% |
FTGC First Trust Global Tactical Commodity Strategy Fund | 20.51% | 14.61% | 9.96% | -5.36% | 17.36% | 27.95% | 2.17% | 6.40% | -12.75% | 2.73% |
Correlation
The correlation between SCO and FTGC is -0.72, 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 | -0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.72 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.73 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.69 |
Correlation (All Time) Calculated using the full available price history since Oct 23, 2013 | -0.67 |
The correlation between SCO and FTGC has been stable across timeframes, ranging from -0.73 to -0.67 - a consistent structural relationship.
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Return for Risk
SCO vs. FTGC — Risk / Return Rank
SCO
FTGC
SCO vs. FTGC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Bloomberg Crude Oil (SCO) and First Trust Global Tactical Commodity Strategy Fund (FTGC). 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 | FTGC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.55 | ||
| Sortino ratioReturn per unit of downside risk | -3.52 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 1.31 | -0.44 |
| Calmar ratioReturn relative to maximum drawdown | -0.66 | 2.80 | -3.46 |
| Martin ratioReturn relative to average drawdown | -1.29 | 9.24 | -10.54 |
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Drawdowns
SCO vs. FTGC - Drawdown Comparison
The maximum SCO drawdown since its inception was -99.80%, which is greater than FTGC's maximum drawdown of -59.47%. Use the drawdown chart below to compare losses from any high point for SCO and FTGC.
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Drawdown Indicators
| SCO | FTGC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.80% | -59.47% | -40.33% |
Max Drawdown (1Y)Largest decline over 1 year | -72.24% | -9.63% | -62.61% |
Max Drawdown (3Y)Largest decline over 3 years | -78.76% | -10.39% | -68.37% |
Max Drawdown (5Y)Largest decline over 5 years | -94.80% | -22.64% | -72.16% |
Max Drawdown (10Y)Largest decline over 10 years | -99.51% | -35.91% | -63.60% |
Current DrawdownCurrent decline from peak | -99.73% | -9.63% | -90.10% |
Average DrawdownAverage peak-to-trough decline | -85.19% | -27.35% | -57.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 36.61% | 2.95% | +33.66% |
Volatility
SCO vs. FTGC - Volatility Comparison
ProShares UltraShort Bloomberg Crude Oil (SCO) has a higher volatility of 16.80% compared to First Trust Global Tactical Commodity Strategy Fund (FTGC) at 3.15%. This indicates that SCO's price experiences larger fluctuations and is considered to be riskier than FTGC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SCO | FTGC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.80% | 3.15% | +13.65% |
Volatility (6M)Calculated over the trailing 6-month period | 47.16% | 13.19% | +33.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.03% | 15.66% | +41.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 60.02% | 15.85% | +44.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.92% | 14.71% | +57.21% |
SCO vs. FTGC - Expense Ratio Comparison
Both SCO and FTGC have an expense ratio of 0.95%.
Dividends
SCO vs. FTGC - Dividend Comparison
SCO has not paid dividends to shareholders, while FTGC's dividend yield for the trailing twelve months is around 15.91%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
FTGC First Trust Global Tactical Commodity Strategy Fund | 15.91% | 17.74% | 3.05% | 3.34% | 10.35% | 7.21% | 0.00% | 0.81% | 0.80% | 1.21% |
SCO ProShares UltraShort Bloomberg Crude Oil | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SCO and FTGC have a correlation of -0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SCO has higher volatility (16.80%) compared to FTGC (3.15%). In terms of maximum drawdown, SCO dropped -99.80% vs FTGC's -59.47%.
On 10-year performance, FTGC leads with 7.08% vs -36.90% for SCO. Both ETFs have the same 0.95% expense ratio. On volatility, FTGC has been the lower-risk option at 3.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FTGC has performed better with a 7.08% return vs -36.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCO and FTGC have the same expense ratio: 0.95% per year.
FTGC has the higher dividend yield at 15.91%, compared with 0.00% for SCO.
SCO is categorized as Oil & Gas, while FTGC is Commodities. They also come from different issuers: ProShares and First Trust.
FTGC currently has the higher Sharpe Ratio (1.72 vs -0.83), 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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