SCO vs. USO
Compare and contrast key facts about ProShares UltraShort Bloomberg Crude Oil (SCO) and United States Oil Fund LP (USO).
SCO and USO 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. USO is a passively managed fund by Concierge Technologies that tracks the performance of the Front Month Light Sweet Crude Oil. It was launched on Apr 10, 2006. Both SCO and USO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SCO or USO.
Key characteristics
| SCO | USO | |
|---|---|---|
| YTD Return | -19.58% | 13.92% |
| 1Y Return | -43.05% | 25.90% |
| 3Y Return (Ann) | -47.98% | 19.99% |
| 5Y Return (Ann) | -44.39% | -5.92% |
| 10Y Return (Ann) | -24.80% | -12.53% |
| Sharpe Ratio | -0.79 | 0.74 |
| Daily Std Dev | 48.76% | 27.61% |
| Max Drawdown | -99.50% | -98.19% |
| Current Drawdown | -99.43% | -91.92% |
Correlation
The correlation between SCO and USO is -0.99. 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.
Performance
SCO vs. USO - Performance Comparison
In the year-to-date period, SCO achieves a -19.58% return, which is significantly lower than USO's 13.92% return. Over the past 10 years, SCO has underperformed USO with an annualized return of -24.80%, while USO has yielded a comparatively higher -12.53% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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SCO vs. USO - Expense Ratio Comparison
SCO has a 0.95% expense ratio, which is higher than USO's 0.79% expense ratio.
Risk-Adjusted Performance
SCO vs. USO - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Bloomberg Crude Oil (SCO) and United States Oil Fund LP (USO). 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.
Dividends
SCO vs. USO - Dividend Comparison
Neither SCO nor USO has paid dividends to shareholders.
Drawdowns
SCO vs. USO - Drawdown Comparison
The maximum SCO drawdown since its inception was -99.50%, roughly equal to the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for SCO and USO. For additional features, visit the drawdowns tool.
Volatility
SCO vs. USO - Volatility Comparison
ProShares UltraShort Bloomberg Crude Oil (SCO) has a higher volatility of 8.70% compared to United States Oil Fund LP (USO) at 5.52%. This indicates that SCO's price experiences larger fluctuations and is considered to be riskier than USO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.