SCO vs. NRGD
SCO (ProShares UltraShort Bloomberg Crude Oil) and NRGD (MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN) are both exchange-traded funds - SCO is a Oil & Gas fund tracking the Bloomberg Commodity Balanced WTI Crude Oil Index (-200%), while NRGD is a Leveraged Equities fund tracking the Solactive MicroSectors U.S. Big Oil Index (-300%). Both are passively managed. Over the past year, SCO returned -58.66% vs -80.85% for NRGD. Their 0.71 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.95% expense ratio.
Performance
SCO vs. NRGD - Performance Comparison
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Returns By Period
In the year-to-date period, SCO achieves a -65.39% return, which is significantly higher than NRGD's -76.50% return.
SCO
- 1D
- -1.02%
- 1M
- -23.78%
- 6M
- -55.81%
- YTD
- -65.39%
- 1Y
- -58.66%
- 3Y*
- -29.81%
- 5Y*
- -39.67%
- 10Y*
- -40.39%
- ALL TIME*
- -26.09%
NRGD
- 1D
- -4.00%
- 1M
- -39.03%
- 6M
- -66.80%
- YTD
- -76.50%
- 1Y
- -80.85%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -72.99%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $596.57K | $512.25K | $693.52K | |
| $131.70M | $126.01M | $253.57M |
SCO vs. NRGD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SCO ProShares UltraShort Bloomberg Crude Oil | -65.39% | 21.12% |
NRGD MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN | -76.50% | -35.40% |
Correlation
The correlation between SCO and NRGD is 0.72, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.72 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025 | 0.71 |
The correlation between SCO and NRGD has been stable across timeframes, ranging from 0.71 to 0.72 - a consistent structural relationship.
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Return for Risk
SCO vs. NRGD — Risk / Return Rank
SCO
NRGD
SCO vs. NRGD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Bloomberg Crude Oil (SCO) and MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN (NRGD). 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 | NRGD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.11 | ||
| Sortino ratioReturn per unit of downside risk | +0.83 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 0.76 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | -0.78 | -0.98 | +0.20 |
| Martin ratioReturn relative to average drawdown | -1.32 | -1.50 | +0.17 |
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Drawdowns
SCO vs. NRGD - Drawdown Comparison
The maximum SCO drawdown since its inception was -99.80%, which is greater than NRGD's maximum drawdown of -91.37%. Use the drawdown chart below to compare losses from any high point for SCO and NRGD.
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Drawdown Indicators
| SCO | NRGD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.80% | -91.37% | -8.43% |
Max Drawdown (1Y)Largest decline over 1 year | -72.24% | -82.12% | +9.88% |
Max Drawdown (3Y)Largest decline over 3 years | -74.64% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -94.80% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -99.50% | — | — |
Current DrawdownCurrent decline from peak | -99.77% | -91.37% | -8.40% |
Average DrawdownAverage peak-to-trough decline | -85.28% | -61.97% | -23.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 42.39% | 53.39% | -11.00% |
Volatility
SCO vs. NRGD - Volatility Comparison
ProShares UltraShort Bloomberg Crude Oil (SCO) and MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN (NRGD) have volatilities of 23.27% and 23.01%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SCO | NRGD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 23.27% | 23.01% | +0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 51.24% | 60.45% | -9.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 59.66% | 76.10% | -16.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 60.43% | 87.89% | -27.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.89% | 87.89% | -16.00% |
SCO vs. NRGD - Expense Ratio Comparison
Both SCO and NRGD have an expense ratio of 0.95%.
Dividends
SCO vs. NRGD - Dividend Comparison
Neither SCO nor NRGD has paid dividends to shareholders.
Frequently Asked Questions
SCO and NRGD 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 (23.27%) compared to NRGD (23.01%). In terms of maximum drawdown, SCO dropped -99.80% vs NRGD's -91.37%.
On 1-year performance, SCO leads with -58.66% vs -80.85% for NRGD. Both ETFs have the same 0.95% expense ratio. On volatility, NRGD has been the lower-risk option at 23.01%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SCO has performed better with a -58.66% return vs -80.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCO and NRGD have the same expense ratio: 0.95% per year.
SCO and NRGD have nearly identical dividend yields, around 0.00%.
SCO is categorized as Oil & Gas, while NRGD is Leveraged Equities. SCO tracks Bloomberg Commodity Balanced WTI Crude Oil Index (-200%), while NRGD tracks Solactive MicroSectors U.S. Big Oil Index (-300%). They also come from different issuers: ProShares and BMO.
SCO currently has the higher Sharpe Ratio (-0.94 vs -1.06), 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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