SCO vs. JEPQ
SCO (ProShares UltraShort Bloomberg Crude Oil) and JEPQ (JPMorgan Nasdaq Equity Premium Income ETF) are both exchange-traded funds - SCO is a Oil & Gas fund tracking the Bloomberg Commodity Balanced WTI Crude Oil Index (-200%), while JEPQ is a Nasdaq-100 fund tracking the Nasdaq-100 Index. Both are passively managed. Over the past 3 years, SCO returned -32.22%/yr vs 19.79%/yr for JEPQ. At a correlation of -0.04, they often move in opposite directions. SCO charges 0.95%/yr vs 0.35%/yr for JEPQ.
Performance
SCO vs. JEPQ - Performance Comparison
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Returns By Period
In the year-to-date period, SCO achieves a -57.74% return, which is significantly lower than JEPQ's 7.85% return.
SCO
- 1D
- 1.31%
- 1M
- 30.31%
- YTD
- -57.74%
- 6M
- -56.56%
- 1Y
- -50.02%
- 3Y*
- -32.22%
- 5Y*
- -38.03%
- 10Y*
- -37.10%
JEPQ
- 1D
- -2.48%
- 1M
- 0.34%
- YTD
- 7.85%
- 6M
- 7.02%
- 1Y
- 25.10%
- 3Y*
- 19.79%
- 5Y*
- —
- 10Y*
- —
SCO vs. JEPQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SCO ProShares UltraShort Bloomberg Crude Oil | -57.74% | 15.90% | -19.00% | -12.41% | -9.83% |
JEPQ JPMorgan Nasdaq Equity Premium Income ETF | 7.85% | 15.18% | 24.85% | 36.28% | -11.16% |
Correlation
The correlation between SCO and JEPQ is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since May 4, 2022 | -0.04 |
The correlation between SCO and JEPQ shifts across timeframes, from -0.04 (all time) to 0.18 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SCO vs. JEPQ — Risk / Return Rank
SCO
JEPQ
SCO vs. JEPQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Bloomberg Crude Oil (SCO) and JPMorgan Nasdaq Equity Premium Income ETF (JEPQ). 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 | JEPQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.83 | ||
| Sortino ratioReturn per unit of downside risk | -3.90 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 1.38 | -0.53 |
| Calmar ratioReturn relative to maximum drawdown | -0.69 | 2.86 | -3.55 |
| Martin ratioReturn relative to average drawdown | -1.35 | 13.55 | -14.91 |
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Drawdowns
SCO vs. JEPQ - Drawdown Comparison
The maximum SCO drawdown since its inception was -99.80%, which is greater than JEPQ's maximum drawdown of -20.07%. Use the drawdown chart below to compare losses from any high point for SCO and JEPQ.
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Drawdown Indicators
| SCO | JEPQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.80% | -20.07% | -79.73% |
Max Drawdown (1Y)Largest decline over 1 year | -72.24% | -8.82% | -63.42% |
Max Drawdown (3Y)Largest decline over 3 years | -78.76% | -20.07% | -58.69% |
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 | -99.72% | -2.48% | -97.24% |
Average DrawdownAverage peak-to-trough decline | -85.20% | -3.40% | -81.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 37.01% | 1.86% | +35.15% |
Volatility
SCO vs. JEPQ - Volatility Comparison
ProShares UltraShort Bloomberg Crude Oil (SCO) has a higher volatility of 15.93% compared to JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) at 6.27%. This indicates that SCO's price experiences larger fluctuations and is considered to be riskier than JEPQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SCO | JEPQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.93% | 6.27% | +9.66% |
Volatility (6M)Calculated over the trailing 6-month period | 47.12% | 10.58% | +36.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.11% | 13.08% | +44.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 60.04% | 16.79% | +43.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.88% | 16.79% | +55.09% |
SCO vs. JEPQ - Expense Ratio Comparison
SCO has a 0.95% expense ratio, which is higher than JEPQ's 0.35% expense ratio.
Dividends
SCO vs. JEPQ - Dividend Comparison
SCO has not paid dividends to shareholders, while JEPQ's dividend yield for the trailing twelve months is around 10.22%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
JEPQ JPMorgan Nasdaq Equity Premium Income ETF | 10.22% | 10.53% | 9.65% | 10.03% | 9.44% |
SCO ProShares UltraShort Bloomberg Crude Oil | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SCO and JEPQ have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SCO has higher volatility (15.93%) compared to JEPQ (6.27%). In terms of maximum drawdown, SCO dropped -99.80% vs JEPQ's -20.07%.
On 3-year performance, JEPQ leads with 19.79% vs -32.22% for SCO. On fees, JEPQ is cheaper at 0.35% per year. On volatility, JEPQ has been the lower-risk option at 6.27%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, JEPQ has performed better with a 19.79% return vs -32.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JEPQ is cheaper with a 0.35% expense ratio, compared with 0.95% for SCO.
JEPQ has the higher dividend yield at 10.22%, compared with 0.00% for SCO.
SCO is categorized as Oil & Gas, while JEPQ is Nasdaq-100. SCO tracks Bloomberg Commodity Balanced WTI Crude Oil Index (-200%), while JEPQ tracks Nasdaq-100 Index. They also come from different issuers: ProShares and JPMorgan. Their fees differ too: 0.95% for SCO and 0.35% for JEPQ.
JEPQ currently has the higher Sharpe Ratio (1.93 vs -0.90), 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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