SCO vs. QQQ
SCO (ProShares UltraShort Bloomberg Crude Oil) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - SCO is a Oil & Gas fund tracking the Bloomberg Commodity Balanced WTI Crude Oil Index (-200%), while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 10 years, SCO returned -38.07%/yr vs 21.19%/yr for QQQ. At a correlation of -0.23, they often move in opposite directions. SCO charges 0.95%/yr vs 0.18%/yr for QQQ.
Performance
SCO vs. QQQ - Performance Comparison
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Returns By Period
In the year-to-date period, SCO achieves a -62.90% return, which is significantly lower than QQQ's 16.13% return. Over the past 10 years, SCO has underperformed QQQ with an annualized return of -38.07%, while QQQ has yielded a comparatively higher 21.19% annualized return.
SCO
- 1D
- -12.22%
- 1M
- 3.82%
- 6M
- -60.38%
- YTD
- -62.90%
- 1Y
- -55.75%
- 3Y*
- -31.76%
- 5Y*
- -39.58%
- 10Y*
- -38.07%
QQQ
- 1D
- -1.90%
- 1M
- -1.22%
- 6M
- 13.75%
- YTD
- 16.13%
- 1Y
- 29.05%
- 3Y*
- 24.08%
- 5Y*
- 15.10%
- 10Y*
- 21.19%
SCO vs. QQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SCO ProShares UltraShort Bloomberg Crude Oil | -62.90% | 15.90% | -19.00% | -12.41% | -62.59% | -72.62% | -4.20% | -58.50% | 19.22% | -22.40% |
QQQ Invesco QQQ ETF | 16.13% | 20.77% | 25.58% | 54.86% | -32.58% | 27.42% | 48.62% | 38.96% | -0.13% | 32.66% |
Correlation
The correlation between SCO and QQQ is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.05 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.13 |
Correlation (All Time) Calculated using the full available price history since Nov 25, 2008 | -0.23 |
The correlation between SCO and QQQ shifts across timeframes, from -0.23 (all time) to 0.17 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SCO vs. QQQ — Risk / Return Rank
SCO
QQQ
SCO vs. QQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Bloomberg Crude Oil (SCO) and Invesco QQQ ETF (QQQ). 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 | QQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.54 | ||
| Sortino ratioReturn per unit of downside risk | -3.65 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.28 | -0.44 |
| Calmar ratioReturn relative to maximum drawdown | -0.77 | 2.44 | -3.21 |
| Martin ratioReturn relative to average drawdown | -1.42 | 8.74 | -10.16 |
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Drawdowns
SCO vs. QQQ - Drawdown Comparison
The maximum SCO drawdown since its inception was -99.80%, which is greater than QQQ's maximum drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for SCO and QQQ.
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Drawdown Indicators
| SCO | QQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.80% | -82.97% | -16.83% |
Max Drawdown (1Y)Largest decline over 1 year | -72.24% | -11.96% | -60.28% |
Max Drawdown (3Y)Largest decline over 3 years | -75.14% | -22.77% | -52.37% |
Max Drawdown (5Y)Largest decline over 5 years | -94.80% | -35.12% | -59.68% |
Max Drawdown (10Y)Largest decline over 10 years | -99.51% | -35.12% | -64.39% |
Current DrawdownCurrent decline from peak | -99.75% | -4.51% | -95.24% |
Average DrawdownAverage peak-to-trough decline | -85.24% | -32.67% | -52.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 39.32% | 3.33% | +35.99% |
Volatility
SCO vs. QQQ - Volatility Comparison
ProShares UltraShort Bloomberg Crude Oil (SCO) has a higher volatility of 22.38% compared to Invesco QQQ ETF (QQQ) at 8.69%. This indicates that SCO's price experiences larger fluctuations and is considered to be riskier than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SCO | QQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.38% | 8.69% | +13.69% |
Volatility (6M)Calculated over the trailing 6-month period | 49.39% | 15.40% | +33.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 58.01% | 18.61% | +39.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 60.45% | 22.80% | +37.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.82% | 22.44% | +49.38% |
SCO vs. QQQ - Expense Ratio Comparison
SCO has a 0.95% expense ratio, which is higher than QQQ's 0.18% expense ratio.
Dividends
SCO vs. QQQ - Dividend Comparison
SCO has not paid dividends to shareholders, while QQQ's dividend yield for the trailing twelve months is around 0.43%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QQQ Invesco QQQ ETF | 0.43% | 0.45% | 0.56% | 0.62% | 0.80% | 0.43% | 0.55% | 0.74% | 0.91% | 0.84% | 1.06% | 0.99% |
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% | 0.00% | 0.00% |
Frequently Asked Questions
SCO and QQQ have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SCO has higher volatility (22.38%) compared to QQQ (8.69%). In terms of maximum drawdown, SCO dropped -99.80% vs QQQ's -82.97%.
On 10-year performance, QQQ leads with 21.19% vs -38.07% for SCO. On fees, QQQ is cheaper at 0.18% per year. On volatility, QQQ has been the lower-risk option at 8.69%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, QQQ has performed better with a 21.19% return vs -38.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QQQ is cheaper with a 0.18% expense ratio, compared with 0.95% for SCO.
QQQ has the higher dividend yield at 0.43%, compared with 0.00% for SCO.
SCO is categorized as Oil & Gas, while QQQ is Nasdaq-100. SCO tracks Bloomberg Commodity Balanced WTI Crude Oil Index (-200%), while QQQ tracks NASDAQ-100 Index. They also come from different issuers: ProShares and Invesco. Their fees differ too: 0.95% for SCO and 0.18% for QQQ.
QQQ currently has the higher Sharpe Ratio (1.57 vs -0.97), 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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