SCO vs. OILK
SCO (ProShares UltraShort Bloomberg Crude Oil) and OILK (ProShares K-1 Free Crude Oil Strategy ETF) are both Oil & Gas funds from ProShares - SCO tracks the Bloomberg Commodity Balanced WTI Crude Oil Index (-200%) while OILK tracks the Bloomberg Commodity Balanced WTI Crude Oil Index. Both are passively managed. Over the past 5 years, SCO returned -39.29%/yr vs 14.17%/yr for OILK. At a correlation of -0.99, they often move in opposite directions. SCO charges 0.95%/yr vs 0.68%/yr for OILK.
Performance
SCO vs. OILK - 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 OILK's 43.69% 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%
OILK
- 1D
- 0.02%
- 1M
- -12.50%
- YTD
- 43.69%
- 6M
- 45.29%
- 1Y
- 22.49%
- 3Y*
- 13.69%
- 5Y*
- 14.17%
- 10Y*
- —
SCO vs. OILK - 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% |
OILK ProShares K-1 Free Crude Oil Strategy ETF | 43.69% | -11.86% | 8.18% | -0.97% | 27.57% | 63.71% | -61.09% | 30.48% | -20.40% | 2.82% |
Correlation
The correlation between SCO and OILK is -1.00, 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 | -1.00 |
Correlation (3Y) Calculated over the trailing 3-year period | -1.00 |
Correlation (5Y) Calculated over the trailing 5-year period | -1.00 |
Correlation (All Time) Calculated using the full available price history since Sep 28, 2016 | -0.99 |
The correlation between SCO and OILK has been stable across timeframes, ranging from -1.00 to -0.99 - a consistent structural relationship.
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Return for Risk
SCO vs. OILK — Risk / Return Rank
SCO
OILK
SCO vs. OILK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Bloomberg Crude Oil (SCO) and ProShares K-1 Free Crude Oil Strategy ETF (OILK). 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 | OILK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.64 | ||
| Sortino ratioReturn per unit of downside risk | -2.42 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 1.15 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | -0.66 | 1.35 | -2.01 |
| Martin ratioReturn relative to average drawdown | -1.29 | 2.65 | -3.95 |
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Drawdowns
SCO vs. OILK - Drawdown Comparison
The maximum SCO drawdown since its inception was -99.80%, which is greater than OILK's maximum drawdown of -83.76%. Use the drawdown chart below to compare losses from any high point for SCO and OILK.
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Drawdown Indicators
| SCO | OILK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.80% | -83.76% | -16.04% |
Max Drawdown (1Y)Largest decline over 1 year | -72.24% | -17.35% | -54.89% |
Max Drawdown (3Y)Largest decline over 3 years | -78.76% | -23.42% | -55.34% |
Max Drawdown (5Y)Largest decline over 5 years | -94.80% | -34.69% | -60.11% |
Max Drawdown (10Y)Largest decline over 10 years | -99.51% | — | — |
Current DrawdownCurrent decline from peak | -99.73% | -15.70% | -84.03% |
Average DrawdownAverage peak-to-trough decline | -85.19% | -32.49% | -52.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 36.61% | 8.83% | +27.78% |
Volatility
SCO vs. OILK - Volatility Comparison
ProShares UltraShort Bloomberg Crude Oil (SCO) has a higher volatility of 16.80% compared to ProShares K-1 Free Crude Oil Strategy ETF (OILK) at 8.64%. This indicates that SCO's price experiences larger fluctuations and is considered to be riskier than OILK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SCO | OILK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.80% | 8.64% | +8.16% |
Volatility (6M)Calculated over the trailing 6-month period | 47.16% | 24.09% | +23.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.03% | 28.96% | +28.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 60.02% | 30.26% | +29.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.92% | 35.97% | +35.95% |
SCO vs. OILK - Expense Ratio Comparison
SCO has a 0.95% expense ratio, which is higher than OILK's 0.68% expense ratio.
Dividends
SCO vs. OILK - Dividend Comparison
SCO has not paid dividends to shareholders, while OILK's dividend yield for the trailing twelve months is around 9.35%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
OILK ProShares K-1 Free Crude Oil Strategy ETF | 9.35% | 4.79% | 3.11% | 5.80% | 17.32% | 68.82% | 0.13% | 0.94% | 0.58% | 6.17% |
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 OILK have a correlation of -1.00, 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 OILK (8.64%). In terms of maximum drawdown, SCO dropped -99.80% vs OILK's -83.76%.
On 5-year performance, OILK leads with 14.17% vs -39.29% for SCO. On fees, OILK is cheaper at 0.68% per year. On volatility, OILK has been the lower-risk option at 8.64%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, OILK has performed better with a 14.17% return vs -39.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
OILK is cheaper with a 0.68% expense ratio, compared with 0.95% for SCO.
OILK has the higher dividend yield at 9.35%, compared with 0.00% for SCO.
SCO tracks Bloomberg Commodity Balanced WTI Crude Oil Index (-200%), while OILK tracks Bloomberg Commodity Balanced WTI Crude Oil Index. Their fees differ too: 0.95% for SCO and 0.68% for OILK.
OILK currently has the higher Sharpe Ratio (0.81 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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