SCO vs. UVXY
SCO (ProShares UltraShort Bloomberg Crude Oil) and UVXY (ProShares Ultra VIX Short-Term Futures ETF) are both exchange-traded funds - SCO is a Oil & Gas fund tracking the Bloomberg Commodity Balanced WTI Crude Oil Index (-200%), while UVXY is a Volatility fund tracking the S&P 500 VIX SHORT-TERM FUTURES TR (150%). Both are passively managed. Over the past 10 years, SCO returned -37.09%/yr vs -72.31%/yr for UVXY. At a 0.22 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.
Performance
SCO vs. UVXY - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SCO achieves a -57.74% return, which is significantly lower than UVXY's -35.49% return. Over the past 10 years, SCO has outperformed UVXY with an annualized return of -37.09%, while UVXY has yielded a comparatively lower -72.31% annualized return.
SCO
- 1D
- 0.03%
- 1M
- 18.27%
- 6M
- -55.73%
- YTD
- -57.74%
- 1Y
- -49.59%
- 3Y*
- -29.10%
- 5Y*
- -37.73%
- 10Y*
- -37.09%
UVXY
- 1D
- -3.58%
- 1M
- -19.32%
- 6M
- -32.32%
- YTD
- -35.49%
- 1Y
- -72.78%
- 3Y*
- -63.56%
- 5Y*
- -68.08%
- 10Y*
- -72.31%
SCO vs. UVXY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SCO ProShares UltraShort Bloomberg Crude Oil | -57.74% | 15.90% | -19.00% | -12.41% | -62.59% | -72.62% | -4.20% | -58.50% | 19.22% | -22.40% |
UVXY ProShares Ultra VIX Short-Term Futures ETF | -35.49% | -65.32% | -50.90% | -87.70% | -44.81% | -88.33% | -17.38% | -84.23% | 60.10% | -94.17% |
Correlation
The correlation between SCO and UVXY is -0.18, 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 | -0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Oct 4, 2011 | 0.22 |
The correlation between SCO and UVXY shifts across timeframes, from -0.18 (1 year) to 0.22 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SCO vs. UVXY — Risk / Return Rank
SCO
UVXY
SCO vs. UVXY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Bloomberg Crude Oil (SCO) and ProShares Ultra VIX Short-Term Futures ETF (UVXY). 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 | UVXY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.18 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 0.82 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.72 | -0.99 | +0.27 |
| Martin ratioReturn relative to average drawdown | -1.32 | -1.49 | +0.17 |
Loading charts...
Drawdowns
SCO vs. UVXY - Drawdown Comparison
The maximum SCO drawdown since its inception was -99.80%, roughly equal to the maximum UVXY drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for SCO and UVXY.
Loading charts...
Drawdown Indicators
| SCO | UVXY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.80% | -100.00% | +0.20% |
Max Drawdown (1Y)Largest decline over 1 year | -72.24% | -73.42% | +1.18% |
Max Drawdown (3Y)Largest decline over 3 years | -75.14% | -95.32% | +20.18% |
Max Drawdown (5Y)Largest decline over 5 years | -94.80% | -99.74% | +4.94% |
Max Drawdown (10Y)Largest decline over 10 years | -99.51% | -100.00% | +0.49% |
Current DrawdownCurrent decline from peak | -99.72% | -100.00% | +0.28% |
Average DrawdownAverage peak-to-trough decline | -85.24% | -98.75% | +13.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 39.10% | 48.70% | -9.60% |
Volatility
SCO vs. UVXY - Volatility Comparison
The current volatility for ProShares UltraShort Bloomberg Crude Oil (SCO) is 17.87%, while ProShares Ultra VIX Short-Term Futures ETF (UVXY) has a volatility of 22.69%. This indicates that SCO experiences smaller price fluctuations and is considered to be less risky than UVXY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SCO | UVXY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.87% | 22.69% | -4.82% |
Volatility (6M)Calculated over the trailing 6-month period | 48.31% | 66.50% | -18.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 56.84% | 85.17% | -28.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 60.20% | 103.78% | -43.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.80% | 111.99% | -40.19% |
SCO vs. UVXY - Expense Ratio Comparison
Both SCO and UVXY have an expense ratio of 0.95%.
Dividends
SCO vs. UVXY - Dividend Comparison
Neither SCO nor UVXY has paid dividends to shareholders.
Frequently Asked Questions
SCO and UVXY have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UVXY has higher volatility (22.69%) compared to SCO (17.87%). In terms of maximum drawdown, SCO dropped -99.80% vs UVXY's -100.00%.
On 10-year performance, SCO leads with -37.09% vs -72.31% for UVXY. Both ETFs have the same 0.95% expense ratio. On volatility, SCO has been the lower-risk option at 17.87%. 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 -37.09% return vs -72.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCO and UVXY have the same expense ratio: 0.95% per year.
SCO and UVXY have nearly identical dividend yields, around 0.00%.
SCO is categorized as Oil & Gas, while UVXY is Volatility. SCO tracks Bloomberg Commodity Balanced WTI Crude Oil Index (-200%), while UVXY tracks S&P 500 VIX SHORT-TERM FUTURES TR (150%).
UVXY currently has the higher Sharpe Ratio (-0.85 vs -0.91), 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.
Find the right allocation for SCO and UVXY
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer