SCO vs. SQQQ
SCO (ProShares UltraShort Bloomberg Crude Oil) and SQQQ (ProShares UltraPro Short QQQ) are both exchange-traded funds - SCO is a Leveraged Commodities fund tracking the Bloomberg Commodity Balanced WTI Crude Oil Index (-200%), while SQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (-300%). Both are passively managed. Over the past 10 years, SCO returned -38.21%/yr vs -55.90%/yr for SQQQ. At a 0.21 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.
Performance
SCO vs. SQQQ - Performance Comparison
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Returns By Period
In the year-to-date period, SCO achieves a -67.25% return, which is significantly lower than SQQQ's -44.43% return. Over the past 10 years, SCO has outperformed SQQQ with an annualized return of -38.21%, while SQQQ has yielded a comparatively lower -55.90% annualized return.
SCO
- 1D
- 4.05%
- 1M
- 1.14%
- YTD
- -67.25%
- 6M
- -65.49%
- 1Y
- -67.35%
- 3Y*
- -37.24%
- 5Y*
- -42.35%
- 10Y*
- -38.21%
SQQQ
- 1D
- 1.53%
- 1M
- -22.29%
- YTD
- -44.43%
- 6M
- -42.11%
- 1Y
- -64.38%
- 3Y*
- -55.94%
- 5Y*
- -49.01%
- 10Y*
- -55.90%
SCO vs. SQQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SCO ProShares UltraShort Bloomberg Crude Oil | -67.25% | 15.90% | -19.00% | -12.41% | -62.59% | -72.62% | -4.20% | -58.50% | 19.22% | -22.40% |
SQQQ ProShares UltraPro Short QQQ | -44.43% | -53.05% | -49.79% | -73.61% | 82.40% | -60.87% | -86.40% | -65.92% | -20.83% | -58.67% |
Correlation
The correlation between SCO and SQQQ is -0.25, 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 | -0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Feb 12, 2010 | 0.21 |
The correlation between SCO and SQQQ shifts across timeframes, from -0.25 (1 year) to 0.21 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SCO vs. SQQQ — Risk / Return Rank
SCO
SQQQ
SCO vs. SQQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Bloomberg Crude Oil (SCO) and ProShares UltraPro Short QQQ (SQQQ). 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 | SQQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +0.28 | ||
| Omega ratioGain probability vs. loss probability | 0.76 | 0.73 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.93 | -0.98 | +0.04 |
| Martin ratioReturn relative to average drawdown | -1.94 | -1.79 | -0.15 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SCO | SQQQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.19 | -1.35 | +0.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.71 | -0.74 | +0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.53 | -0.85 | +0.31 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.38 | -0.88 | +0.50 |
Drawdowns
SCO vs. SQQQ - Drawdown Comparison
The maximum SCO drawdown since its inception was -99.80%, roughly equal to the maximum SQQQ drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for SCO and SQQQ.
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Drawdown Indicators
| SCO | SQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.80% | -100.00% | +0.20% |
Max Drawdown (1Y)Largest decline over 1 year | -72.24% | -65.95% | -6.29% |
Max Drawdown (3Y)Largest decline over 3 years | -79.85% | -92.38% | +12.53% |
Max Drawdown (5Y)Largest decline over 5 years | -94.80% | -97.23% | +2.43% |
Max Drawdown (10Y)Largest decline over 10 years | -99.51% | -99.98% | +0.47% |
Current DrawdownCurrent decline from peak | -99.78% | -100.00% | +0.22% |
Average DrawdownAverage peak-to-trough decline | -85.18% | -92.40% | +7.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 34.87% | 35.96% | -1.09% |
Volatility
SCO vs. SQQQ - Volatility Comparison
ProShares UltraShort Bloomberg Crude Oil (SCO) has a higher volatility of 20.24% compared to ProShares UltraPro Short QQQ (SQQQ) at 13.81%. This indicates that SCO's price experiences larger fluctuations and is considered to be riskier than SQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SCO | SQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 20.24% | 13.81% | +6.43% |
Volatility (6M)Calculated over the trailing 6-month period | 45.73% | 36.46% | +9.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 56.81% | 47.79% | +9.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 59.76% | 66.61% | -6.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.95% | 66.10% | +5.85% |
SCO vs. SQQQ - Expense Ratio Comparison
Both SCO and SQQQ have an expense ratio of 0.95%.
Dividends
SCO vs. SQQQ - Dividend Comparison
SCO has not paid dividends to shareholders, while SQQQ's dividend yield for the trailing twelve months is around 12.29%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
SQQQ ProShares UltraPro Short QQQ | 12.29% | 9.36% | 10.23% | 8.01% | 0.28% | 0.00% | 2.15% | 2.92% | 1.47% | 0.14% |
Frequently Asked Questions
SCO and SQQQ have a correlation of -0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SCO has higher volatility (20.24%) compared to SQQQ (13.81%). In terms of maximum drawdown, SCO dropped -99.80% vs SQQQ's -100.00%.
On 10-year performance, SCO leads with -38.21% vs -55.90% for SQQQ. Both ETFs have the same 0.95% expense ratio. On volatility, SQQQ has been the lower-risk option at 13.81%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SCO has performed better with a -38.21% return vs -55.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCO and SQQQ have the same expense ratio: 0.95% per year.
SQQQ has the higher dividend yield at 12.29%, compared with 0.00% for SCO.
SCO is categorized as Leveraged Commodities, while SQQQ is Leveraged Equities. SCO tracks Bloomberg Commodity Balanced WTI Crude Oil Index (-200%), while SQQQ tracks NASDAQ-100 Index (-300%).
SCO currently has the higher Sharpe Ratio (-1.19 vs -1.35), 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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