SCO vs. SOXL
SCO (ProShares UltraShort Bloomberg Crude Oil) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both exchange-traded funds - SCO is a Oil & Gas fund tracking the Bloomberg Commodity Balanced WTI Crude Oil Index (-200%), while SOXL is a Leveraged Equities fund tracking the NYSE Semiconductor Index. Both are passively managed. Over the past 10 years, SCO returned -40.39%/yr vs 48.63%/yr for SOXL. Their -0.21 correlation means they have often moved in opposite directions in the past. SCO charges 0.95%/yr vs 0.75%/yr for SOXL.
Performance
SCO vs. SOXL - Performance Comparison
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Returns By Period
In the year-to-date period, SCO achieves a -65.39% return, which is significantly lower than SOXL's 172.95% return. Over the past 10 years, SCO has underperformed SOXL with an annualized return of -40.39%, while SOXL has yielded a comparatively higher 48.63% annualized 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%
SOXL
- 1D
- 0.00%
- 1M
- -36.78%
- 6M
- 85.66%
- YTD
- 172.95%
- 1Y
- 376.55%
- 3Y*
- 60.01%
- 5Y*
- 21.65%
- 10Y*
- 48.63%
- ALL TIME*
- 38.01%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $131.70M | $126.01M | $253.57M | |
| $10.60B | $10.77B | $11.72B |
SCO vs. SOXL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SCO ProShares UltraShort Bloomberg Crude Oil | -65.39% | 15.90% | -19.00% | -12.41% | -62.59% | -72.62% | -4.20% | -58.50% | 19.22% | -22.40% |
SOXL Direxion Daily Semiconductor Bull 3X ETF | 172.95% | 54.91% | -12.31% | 226.98% | -85.66% | 118.84% | 70.04% | 231.83% | -39.07% | 141.71% |
Correlation
The correlation between SCO and SOXL is 0.10, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.10 |
Correlation (3Y) Balances recent behavior with more history. | -0.02 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.08 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.13 |
Correlation (All Time) Calculated using the full available price history since Mar 11, 2010 | -0.21 |
The correlation between SCO and SOXL shifts across timeframes, from -0.21 (all time) to 0.10 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SCO vs. SOXL — Risk / Return Rank
SCO
SOXL
SCO vs. SOXL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Bloomberg Crude Oil (SCO) and Direxion Daily Semiconductor Bull 3X ETF (SOXL). 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 | SOXL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.72 | ||
| Sortino ratioReturn per unit of downside risk | -4.19 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.36 | -0.53 |
| Calmar ratioReturn relative to maximum drawdown | -0.78 | 5.22 | -6.00 |
| Martin ratioReturn relative to average drawdown | -1.32 | 18.04 | -19.37 |
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Drawdowns
SCO vs. SOXL - Drawdown Comparison
The maximum SCO drawdown since its inception was -99.80%, which is greater than SOXL's maximum drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for SCO and SOXL.
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Drawdown Indicators
| SCO | SOXL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.80% | -90.46% | -9.34% |
Max Drawdown (1Y)Largest decline over 1 year | -72.24% | -69.42% | -2.82% |
Max Drawdown (3Y)Largest decline over 3 years | -74.64% | -87.88% | +13.24% |
Max Drawdown (5Y)Largest decline over 5 years | -94.80% | -90.46% | -4.34% |
Max Drawdown (10Y)Largest decline over 10 years | -99.50% | -90.46% | -9.04% |
Current DrawdownCurrent decline from peak | -99.77% | -61.86% | -37.91% |
Average DrawdownAverage peak-to-trough decline | -85.28% | -35.00% | -50.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 42.39% | 20.04% | +22.35% |
Volatility
SCO vs. SOXL - Volatility Comparison
The current volatility for ProShares UltraShort Bloomberg Crude Oil (SCO) is 23.27%, while Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a volatility of 52.68%. This indicates that SCO experiences smaller price fluctuations and is considered to be less risky than SOXL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SCO | SOXL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 23.27% | 52.68% | -29.41% |
Volatility (6M)Calculated over the trailing 6-month period | 51.24% | 115.51% | -64.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 59.66% | 130.99% | -71.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 60.43% | 113.21% | -52.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.89% | 102.11% | -30.22% |
SCO vs. SOXL - Expense Ratio Comparison
SCO has a 0.95% expense ratio, which is higher than SOXL's 0.75% expense ratio.
Dividends
SCO vs. SOXL - Dividend Comparison
SCO has not paid dividends to shareholders, while SOXL's dividend yield for the trailing twelve months is around 0.01%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
SOXL Direxion Daily Semiconductor Bull 3X ETF | 0.01% | 0.34% | 1.18% | 0.51% | 1.07% | 0.04% | 0.05% | 0.38% | 1.30% | 0.09% | 4.84% |
Frequently Asked Questions
SCO and SOXL have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXL has higher volatility (52.68%) compared to SCO (23.27%). In terms of maximum drawdown, SCO dropped -99.80% vs SOXL's -90.46%.
On 10-year performance, SOXL leads with 48.63% vs -40.39% for SCO. On fees, SOXL is cheaper at 0.75% per year. On volatility, SCO has been the lower-risk option at 23.27%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SOXL has performed better with a 48.63% return vs -40.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SOXL is cheaper with a 0.75% expense ratio, compared with 0.95% for SCO.
SOXL has the higher dividend yield at 0.01%, compared with 0.00% for SCO.
SCO is categorized as Oil & Gas, while SOXL is Leveraged Equities. SCO tracks Bloomberg Commodity Balanced WTI Crude Oil Index (-200%), while SOXL tracks NYSE Semiconductor Index. They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for SCO and 0.75% for SOXL.
SOXL currently has the higher Sharpe Ratio (2.77 vs -0.94), 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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