SCO vs. WTID
SCO (ProShares UltraShort Bloomberg Crude Oil) and WTID (MicroSectors Energy -3X Inverse Leveraged ETN) are both exchange-traded funds - SCO is a Leveraged Commodities fund tracking the Bloomberg Commodity Balanced WTI Crude Oil Index (-200%), while WTID is a Inverse Equities fund tracking the Solactive MicroSectors Energy Index - Benchmark TR Gross (--300%). Both are passively managed. Over the past 3 years, SCO returned -37.96%/yr vs -48.40%/yr for WTID. A 0.65 correlation means they provide meaningful diversification when combined. Both charge a 0.95% expense ratio.
Performance
SCO vs. WTID - Performance Comparison
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Returns By Period
In the year-to-date period, SCO achieves a -68.52% return, which is significantly lower than WTID's -62.23% return.
SCO
- 1D
- -2.80%
- 1M
- 0.04%
- YTD
- -68.52%
- 6M
- -67.29%
- 1Y
- -68.07%
- 3Y*
- -37.96%
- 5Y*
- -42.81%
- 10Y*
- -38.69%
WTID
- 1D
- -3.31%
- 1M
- -1.13%
- YTD
- -62.23%
- 6M
- -57.99%
- 1Y
- -72.92%
- 3Y*
- -48.40%
- 5Y*
- —
- 10Y*
- —
SCO vs. WTID - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SCO ProShares UltraShort Bloomberg Crude Oil | -68.52% | 15.90% | -19.00% | -12.85% |
WTID MicroSectors Energy -3X Inverse Leveraged ETN | -62.23% | -44.50% | -7.93% | -17.12% |
Correlation
The correlation between SCO and WTID is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Feb 16, 2023 | 0.65 |
The correlation between SCO and WTID has been stable across timeframes, ranging from 0.65 to 0.69 - a consistent structural relationship.
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Return for Risk
SCO vs. WTID — Risk / Return Rank
SCO
WTID
SCO vs. WTID - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Bloomberg Crude Oil (SCO) and MicroSectors Energy -3X Inverse Leveraged ETN (WTID). 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 | WTID | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.10 | ||
| Sortino ratioReturn per unit of downside risk | -0.10 | ||
| Omega ratioGain probability vs. loss probability | 0.75 | 0.77 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.94 | -0.94 | -0.01 |
| Martin ratioReturn relative to average drawdown | -1.97 | -1.55 | -0.42 |
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 | WTID | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.20 | -1.10 | -0.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.72 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.54 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.38 | -0.61 | +0.23 |
Drawdowns
SCO vs. WTID - Drawdown Comparison
The maximum SCO drawdown since its inception was -99.80%, which is greater than WTID's maximum drawdown of -90.35%. Use the drawdown chart below to compare losses from any high point for SCO and WTID.
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Drawdown Indicators
| SCO | WTID | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.80% | -90.35% | -9.45% |
Max Drawdown (1Y)Largest decline over 1 year | -72.24% | -78.12% | +5.88% |
Max Drawdown (3Y)Largest decline over 3 years | -79.85% | -88.99% | +9.14% |
Max Drawdown (5Y)Largest decline over 5 years | -94.80% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -99.51% | — | — |
Current DrawdownCurrent decline from peak | -99.79% | -88.87% | -10.92% |
Average DrawdownAverage peak-to-trough decline | -85.17% | -54.44% | -30.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 34.60% | 47.10% | -12.50% |
Volatility
SCO vs. WTID - Volatility Comparison
The current volatility for ProShares UltraShort Bloomberg Crude Oil (SCO) is 20.05%, while MicroSectors Energy -3X Inverse Leveraged ETN (WTID) has a volatility of 25.63%. This indicates that SCO experiences smaller price fluctuations and is considered to be less risky than WTID based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SCO | WTID | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 20.05% | 25.63% | -5.58% |
Volatility (6M)Calculated over the trailing 6-month period | 45.60% | 53.59% | -7.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 56.64% | 66.54% | -9.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 59.74% | 70.34% | -10.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.95% | 70.34% | +1.61% |
SCO vs. WTID - Expense Ratio Comparison
Both SCO and WTID have an expense ratio of 0.95%.
Dividends
SCO vs. WTID - Dividend Comparison
Neither SCO nor WTID has paid dividends to shareholders.
Frequently Asked Questions
SCO and WTID have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WTID has higher volatility (25.63%) compared to SCO (20.05%). In terms of maximum drawdown, SCO dropped -99.80% vs WTID's -90.35%.
On 3-year performance, SCO leads with -37.96% vs -48.40% for WTID. Both ETFs have the same 0.95% expense ratio. On volatility, SCO has been the lower-risk option at 20.05%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, SCO has performed better with a -37.96% return vs -48.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCO and WTID have the same expense ratio: 0.95% per year.
SCO and WTID have nearly identical dividend yields, around 0.00%.
SCO is categorized as Leveraged Commodities, while WTID is Inverse Equities. SCO tracks Bloomberg Commodity Balanced WTI Crude Oil Index (-200%), while WTID tracks Solactive MicroSectors Energy Index - Benchmark TR Gross (--300%). They also come from different issuers: ProShares and REX.
WTID currently has the higher Sharpe Ratio (-1.10 vs -1.20), 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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