SCO vs. UCO
Compare and contrast key facts about ProShares UltraShort Bloomberg Crude Oil (SCO) and ProShares Ultra Bloomberg Crude Oil (UCO).
SCO and UCO 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. UCO is a passively managed fund by ProShares that tracks the performance of the Dow Jones-UBS Crude Oil Sub-Index (200%). It was launched on Nov 24, 2008. Both SCO and UCO 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. UCO - Performance Comparison
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SCO vs. UCO - 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% |
UCO ProShares Ultra Bloomberg Crude Oil | 92.55% | -29.75% | 5.36% | -13.89% | 39.71% | 139.26% | -92.91% | 53.83% | -43.26% | 0.34% |
Returns By Period
In the year-to-date period, SCO achieves a -55.18% return, which is significantly lower than UCO's 92.55% return. Over the past 10 years, SCO has underperformed UCO with an annualized return of -39.82%, while UCO has yielded a comparatively higher -9.67% 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%
UCO
- 1D
- -5.34%
- 1M
- 34.20%
- YTD
- 92.55%
- 6M
- 67.42%
- 1Y
- 37.47%
- 3Y*
- 12.01%
- 5Y*
- 21.35%
- 10Y*
- -9.67%
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SCO vs. UCO - Expense Ratio Comparison
Both SCO and UCO have an expense ratio of 0.95%.
Return for Risk
SCO vs. UCO — Risk / Return Rank
SCO
UCO
SCO vs. UCO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Bloomberg Crude Oil (SCO) and ProShares Ultra Bloomberg Crude Oil (UCO). 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 | UCO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.84 | 0.66 | -1.49 |
Sortino ratioReturn per unit of downside risk | -1.20 | 1.20 | -2.40 |
Omega ratioGain probability vs. loss probability | 0.87 | 1.15 | -0.28 |
Calmar ratioReturn relative to maximum drawdown | -0.72 | 1.08 | -1.79 |
Martin ratioReturn relative to average drawdown | -1.71 | 1.80 | -3.51 |
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 | UCO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.84 | 0.66 | -1.49 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.71 | 0.36 | -1.07 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.55 | -0.14 | -0.42 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.36 | -0.36 | 0.00 |
Correlation
The correlation between SCO and UCO is -1.00. 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. UCO - Dividend Comparison
Neither SCO nor UCO has paid dividends to shareholders.
Drawdowns
SCO vs. UCO - Drawdown Comparison
The maximum SCO drawdown since its inception was -99.74%, roughly equal to the maximum UCO drawdown of -99.95%. Use the drawdown chart below to compare losses from any high point for SCO and UCO.
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Drawdown Indicators
| SCO | UCO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.74% | -99.95% | +0.21% |
Max Drawdown (1Y)Largest decline over 1 year | -66.46% | -34.77% | -31.69% |
Max Drawdown (5Y)Largest decline over 5 years | -94.53% | -67.24% | -27.29% |
Max Drawdown (10Y)Largest decline over 10 years | -99.48% | -98.75% | -0.73% |
Current DrawdownCurrent decline from peak | -99.70% | -99.40% | -0.30% |
Average DrawdownAverage peak-to-trough decline | -85.03% | -85.35% | +0.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 27.84% | 20.76% | +7.08% |
Volatility
SCO vs. UCO - Volatility Comparison
ProShares UltraShort Bloomberg Crude Oil (SCO) and ProShares Ultra Bloomberg Crude Oil (UCO) have volatilities of 24.45% and 25.64%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SCO | UCO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 24.45% | 25.64% | -1.19% |
Volatility (6M)Calculated over the trailing 6-month period | 40.35% | 40.74% | -0.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.03% | 57.38% | -0.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 59.08% | 59.11% | -0.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.93% | 71.31% | +0.62% |