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 -40.39%/yr vs -71.50%/yr for UVXY. Their 0.22 correlation means their historical movements had little consistent relationship. Both charge a 0.95% expense ratio.
Performance
SCO vs. UVXY - 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 UVXY's -35.24% return. Over the past 10 years, SCO has outperformed UVXY with an annualized return of -40.39%, while UVXY has yielded a comparatively lower -71.50% 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%
UVXY
- 1D
- -4.24%
- 1M
- -6.17%
- 6M
- -37.50%
- YTD
- -35.24%
- 1Y
- -73.24%
- 3Y*
- -61.42%
- 5Y*
- -68.18%
- 10Y*
- -71.50%
- ALL TIME*
- -80.18%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $131.70M | $126.01M | $253.57M | |
| $190.03M | $191.90M | $239.87M |
SCO vs. UVXY - 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% |
UVXY ProShares Ultra VIX Short-Term Futures ETF | -35.24% | -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 -0.21, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.21 |
Correlation (3Y) Balances recent behavior with more history. | -0.04 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.07 |
Correlation (10Y) Provides a long-term view across more market conditions. | 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 -0.21 (1 year) to 0.22 (all time), reflecting how their relationship changes across market environments.
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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 | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.13 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 0.85 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.78 | -0.95 | +0.17 |
| Martin ratioReturn relative to average drawdown | -1.32 | -1.35 | +0.03 |
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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.
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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% | -73.88% | +1.64% |
Max Drawdown (3Y)Largest decline over 3 years | -74.64% | -95.42% | +20.78% |
Max Drawdown (5Y)Largest decline over 5 years | -94.80% | -99.68% | +4.88% |
Max Drawdown (10Y)Largest decline over 10 years | -99.50% | -100.00% | +0.50% |
Current DrawdownCurrent decline from peak | -99.77% | -100.00% | +0.23% |
Average DrawdownAverage peak-to-trough decline | -85.28% | -98.76% | +13.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 42.39% | 51.60% | -9.21% |
Volatility
SCO vs. UVXY - Volatility Comparison
ProShares UltraShort Bloomberg Crude Oil (SCO) and ProShares Ultra VIX Short-Term Futures ETF (UVXY) have volatilities of 23.27% and 22.30%, 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 | UVXY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 23.27% | 22.30% | +0.97% |
Volatility (6M)Calculated over the trailing 6-month period | 51.24% | 65.55% | -14.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 59.66% | 87.28% | -27.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 60.43% | 103.39% | -42.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.89% | 112.09% | -40.20% |
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 -0.21, 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 UVXY (22.30%). In terms of maximum drawdown, SCO dropped -99.80% vs UVXY's -100.00%.
On 10-year performance, SCO leads with -40.39% vs -71.50% for UVXY. Both ETFs have the same 0.95% expense ratio. On volatility, UVXY has been the lower-risk option at 22.30%. 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 -40.39% return vs -71.50%. 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 (-0.80 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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