SCO vs. SOXL

Last updated Apr 2, 2026

Compare and contrast key facts about ProShares UltraShort Bloomberg Crude Oil (SCO) and Direxion Daily Semiconductor Bull 3x Shares (SOXL).

SCO and SOXL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SCO is a passively managed fund by ProShares that tracks the performance of the Bloomberg Commodity Balanced WTI Crude Oil Index (-200%). It was launched on Nov 24, 2008. SOXL is a passively managed fund by Direxion that tracks the performance of the PHLX Semiconductor Index (300%). It was launched on Mar 11, 2010. Both SCO and SOXL are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

SCO vs. SOXL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort Bloomberg Crude Oil (SCO) and Direxion Daily Semiconductor Bull 3x Shares (SOXL). The values are adjusted to include any dividend payments, if applicable.

SCO vs. SOXL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SCO ProShares UltraShort Bloomberg Crude Oil	-55.18%	15.90%	-19.00%	-12.41%	-62.59%	-72.62%	-4.20%	-58.50%	19.22%	-22.40%
SOXL Direxion Daily Semiconductor Bull 3x Shares	24.34%	54.91%	-12.31%	226.98%	-85.66%	118.84%	70.04%	231.83%	-39.07%	141.71%

Returns By Period

In the year-to-date period, SCO achieves a -55.18% return, which is significantly lower than SOXL's 24.34% return. Over the past 10 years, SCO has underperformed SOXL with an annualized return of -39.82%, while SOXL has yielded a comparatively higher 41.10% annualized return.

SCO

• 1D: 5.65%
• 1M: -31.91%
• YTD: -55.18%
• 6M: -50.11%
• 1Y: -47.55%
• 3Y*: -29.63%
• 5Y*: -41.92%
• 10Y*: -39.82%

SOXL

• 1D: 9.08%
• 1M: -16.73%
• YTD: 24.34%
• 6M: 41.78%
• 1Y: 228.78%
• 3Y*: 42.83%
• 5Y*: 4.90%
• 10Y*: 41.10%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SCO vs. SOXL - Expense Ratio Comparison

SCO has a 0.95% expense ratio, which is lower than SOXL's 0.99% expense ratio.

SOXL

Direxion Daily Semiconductor Bull 3x Shares

SCO

ProShares UltraShort Bloomberg Crude Oil

Return for Risk

SCO vs. SOXL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SCO

SCO Risk / Return Rank: 1
SCO Sharpe Ratio Rank: 1
SCO Sortino Ratio Rank: 1
SCO Omega Ratio Rank: 2
SCO Calmar Ratio Rank: 2
SCO Martin Ratio Rank: 1

SOXL

SOXL Risk / Return Rank: 90
SOXL Sharpe Ratio Rank: 89
SOXL Sortino Ratio Rank: 88
SOXL Omega Ratio Rank: 86
SOXL Calmar Ratio Rank: 96
SOXL Martin Ratio Rank: 93

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

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 Shares (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.

	SCO	SOXL	Difference
Sharpe ratio Return per unit of total volatility	-0.84	1.93	-2.76
Sortino ratio Return per unit of downside risk	-1.20	2.46	-3.66
Omega ratio Gain probability vs. loss probability	0.87	1.35	-0.48
Calmar ratio Return relative to maximum drawdown	-0.72	4.64	-5.36
Martin ratio Return relative to average drawdown	-1.71	14.09	-15.80
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SCO vs. SOXL - Sharpe Ratio Comparison

The current SCO Sharpe Ratio is -0.84, which is lower than the SOXL Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of SCO and SOXL, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SCO	SOXL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.84	1.93	-2.76
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.71	0.05	-0.76
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.55	0.42	-0.98
Sharpe Ratio (All Time) Calculated using the full available price history	-0.36	0.36	-0.72

Correlation

The correlation between SCO and SOXL is -0.22. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

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 0.15%.

	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 Shares	0.15%	0.34%	1.18%	0.51%	1.07%	0.04%	0.05%	0.38%	1.30%	0.09%	4.84%

Drawdowns

SCO vs. SOXL - Drawdown Comparison

The maximum SCO drawdown since its inception was -99.74%, 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.

Drawdown Indicators

	SCO	SOXL	Difference
Max Drawdown Largest peak-to-trough decline	-99.74%	-90.46%	-9.28%
Max Drawdown (1Y) Largest decline over 1 year	-66.46%	-49.26%	-17.20%
Max Drawdown (5Y) Largest decline over 5 years	-94.53%	-90.46%	-4.07%
Max Drawdown (10Y) Largest decline over 10 years	-99.48%	-90.46%	-9.02%
Current Drawdown Current decline from peak	-99.70%	-27.28%	-72.42%
Average Drawdown Average peak-to-trough decline	-85.03%	-35.34%	-49.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	27.84%	16.23%	+11.61%

Volatility

SCO vs. SOXL - Volatility Comparison

The current volatility for ProShares UltraShort Bloomberg Crude Oil (SCO) is 24.45%, while Direxion Daily Semiconductor Bull 3x Shares (SOXL) has a volatility of 38.35%. 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.

Volatility by Period

	SCO	SOXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.45%	38.35%	-13.90%
Volatility (6M) Calculated over the trailing 6-month period	40.35%	79.93%	-39.58%
Volatility (1Y) Calculated over the trailing 1-year period	57.03%	119.50%	-62.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	59.08%	105.40%	-46.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	71.93%	97.72%	-25.79%