SCO vs. TQQQ
SCO (ProShares UltraShort Bloomberg Crude Oil) and TQQQ (ProShares UltraPro QQQ) are both exchange-traded funds - SCO is a Oil & Gas fund tracking the Bloomberg Commodity Balanced WTI Crude Oil Index (-200%), while TQQQ is a Leveraged Equities fund tracking the NASDAQ-100 Index (300%). Both are passively managed. Over the past 10 years, SCO returned -40.39%/yr vs 39.46%/yr for TQQQ. Their -0.21 correlation means they have often moved in opposite directions in the past. Both charge a 0.95% expense ratio.
Performance
SCO vs. TQQQ - 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 TQQQ's 23.06% return. Over the past 10 years, SCO has underperformed TQQQ with an annualized return of -40.39%, while TQQQ has yielded a comparatively higher 39.46% 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%
TQQQ
- 1D
- 2.09%
- 1M
- -11.90%
- 6M
- 20.14%
- YTD
- 23.06%
- 1Y
- 56.87%
- 3Y*
- 43.81%
- 5Y*
- 15.36%
- 10Y*
- 39.46%
- ALL TIME*
- 42.33%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $131.70M | $126.01M | $253.57M | |
| $4.37B | $4.57B | $5.33B |
SCO vs. TQQQ - 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% |
TQQQ ProShares UltraPro QQQ | 23.06% | 34.35% | 58.27% | 198.04% | -79.09% | 82.98% | 110.05% | 133.84% | -19.79% | 118.06% |
Correlation
The correlation between SCO and TQQQ is 0.19, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.19 |
Correlation (3Y) Balances recent behavior with more history. | 0.03 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.04 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.13 |
Correlation (All Time) Calculated using the full available price history since Feb 11, 2010 | -0.21 |
The correlation between SCO and TQQQ shifts across timeframes, from -0.21 (all time) to 0.19 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SCO vs. TQQQ — Risk / Return Rank
SCO
TQQQ
SCO vs. TQQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Bloomberg Crude Oil (SCO) and ProShares UltraPro QQQ (TQQQ). 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 | TQQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.77 | ||
| Sortino ratioReturn per unit of downside risk | -2.87 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.17 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | -0.78 | 1.29 | -2.07 |
| Martin ratioReturn relative to average drawdown | -1.32 | 3.60 | -4.92 |
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Drawdowns
SCO vs. TQQQ - Drawdown Comparison
The maximum SCO drawdown since its inception was -99.80%, which is greater than TQQQ's maximum drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for SCO and TQQQ.
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Drawdown Indicators
| SCO | TQQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.80% | -81.66% | -18.14% |
Max Drawdown (1Y)Largest decline over 1 year | -72.24% | -36.97% | -35.27% |
Max Drawdown (3Y)Largest decline over 3 years | -74.64% | -58.04% | -16.60% |
Max Drawdown (5Y)Largest decline over 5 years | -94.80% | -81.66% | -13.14% |
Max Drawdown (10Y)Largest decline over 10 years | -99.50% | -81.66% | -17.84% |
Current DrawdownCurrent decline from peak | -99.77% | -25.74% | -74.03% |
Average DrawdownAverage peak-to-trough decline | -85.28% | -18.49% | -66.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 42.39% | 13.24% | +29.15% |
Volatility
SCO vs. TQQQ - Volatility Comparison
ProShares UltraShort Bloomberg Crude Oil (SCO) has a higher volatility of 23.27% compared to ProShares UltraPro QQQ (TQQQ) at 20.41%. This indicates that SCO's price experiences larger fluctuations and is considered to be riskier than TQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SCO | TQQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 23.27% | 20.41% | +2.86% |
Volatility (6M)Calculated over the trailing 6-month period | 51.24% | 47.79% | +3.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 59.66% | 57.62% | +2.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 60.43% | 68.04% | -7.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.89% | 66.57% | +5.32% |
SCO vs. TQQQ - Expense Ratio Comparison
Both SCO and TQQQ have an expense ratio of 0.95%.
Dividends
SCO vs. TQQQ - Dividend Comparison
SCO has not paid dividends to shareholders, while TQQQ's dividend yield for the trailing twelve months is around 0.58%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
TQQQ ProShares UltraPro QQQ | 0.58% | 0.65% | 1.27% | 1.26% | 0.57% | 0.00% | 0.00% | 0.06% | 0.11% | 0.00% | 0.00% | 0.01% |
Frequently Asked Questions
SCO and TQQQ have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SCO has higher volatility (23.27%) compared to TQQQ (20.41%). In terms of maximum drawdown, SCO dropped -99.80% vs TQQQ's -81.66%.
On 10-year performance, TQQQ leads with 39.46% vs -40.39% for SCO. Both ETFs have the same 0.95% expense ratio. On volatility, TQQQ has been the lower-risk option at 20.41%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, TQQQ has performed better with a 39.46% return vs -40.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCO and TQQQ have the same expense ratio: 0.95% per year.
TQQQ has the higher dividend yield at 0.58%, compared with 0.00% for SCO.
SCO is categorized as Oil & Gas, while TQQQ is Leveraged Equities. SCO tracks Bloomberg Commodity Balanced WTI Crude Oil Index (-200%), while TQQQ tracks NASDAQ-100 Index (300%).
TQQQ currently has the higher Sharpe Ratio (0.83 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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