SCO vs. WXET

Last updated Jun 5, 2026

SCO (ProShares UltraShort Bloomberg Crude Oil) and WXET (Teucrium 2x Daily Wheat ETF) are both Leveraged Commodities funds. SCO is passively managed, while WXET is actively managed. Over the past year, SCO returned -67.35% vs -15.09% for WXET. At a correlation of -0.19, they often move in opposite directions. Both charge a 0.95% expense ratio.

Performance

SCO vs. WXET - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort Bloomberg Crude Oil (SCO) and Teucrium 2x Daily Wheat ETF (WXET). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SCO achieves a -67.25% return, which is significantly lower than WXET's 19.32% return.

SCO

• 1D: 4.05%
• 1M: 1.14%
• YTD: -67.25%
• 6M: -65.49%
• 1Y: -67.35%
• 3Y*: -37.24%
• 5Y*: -42.35%
• 10Y*: -38.21%

WXET

• 1D: -1.42%
• 1M: -15.07%
• YTD: 19.32%
• 6M: 5.08%
• 1Y: -15.09%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

SCO vs. WXET - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SCO ProShares UltraShort Bloomberg Crude Oil	-67.25%	15.90%	-1.91%
WXET Teucrium 2x Daily Wheat ETF	19.32%	-37.99%	-0.40%

Correlation

The correlation between SCO and WXET is -0.26, 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	-0.26
Correlation (All Time) Calculated using the full available price history since Dec 16, 2024	-0.19

Return for Risk

SCO vs. WXET — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SCO

SCO Risk / Return Rank: 1
SCO Sharpe Ratio Rank: 1
SCO Sortino Ratio Rank: 0
SCO Omega Ratio Rank: 0
SCO Calmar Ratio Rank: 1
SCO Martin Ratio Rank: 0

WXET

WXET Risk / Return Rank: 6
WXET Sharpe Ratio Rank: 6
WXET Sortino Ratio Rank: 7
WXET Omega Ratio Rank: 7
WXET Calmar Ratio Rank: 5
WXET Martin Ratio Rank: 6

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SCO vs. WXET - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Bloomberg Crude Oil (SCO) and Teucrium 2x Daily Wheat ETF (WXET). 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	WXET	Difference
Sharpe ratio: Return per unit of total volatility	-1.19	-0.30	-0.89
Sortino ratio: Return per unit of downside risk	-2.29	-0.13	-2.16
Omega ratio: Gain probability vs. loss probability	0.76	0.99	-0.23
Calmar ratio: Return relative to maximum drawdown	-0.93	-0.43	-0.51
Martin ratio: Return relative to average drawdown	-1.94	-0.64	-1.30
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SCO vs. WXET - Sharpe Ratio Comparison

The current SCO Sharpe Ratio is -1.19, which is lower than the WXET Sharpe Ratio of -0.30. The chart below compares the historical Sharpe Ratios of SCO and WXET, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SCO	WXET	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.19	-0.30	-0.89
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.71	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.53	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.38	-0.39	+0.01

Drawdowns

SCO vs. WXET - Drawdown Comparison

The maximum SCO drawdown since its inception was -99.80%, which is greater than WXET's maximum drawdown of -48.31%. Use the drawdown chart below to compare losses from any high point for SCO and WXET.

Drawdown Indicators

	SCO	WXET	Difference
Max Drawdown Largest peak-to-trough decline	-99.80%	-48.31%	-51.49%
Max Drawdown (1Y) Largest decline over 1 year	-72.24%	-35.64%	-36.60%
Max Drawdown (3Y) Largest decline over 3 years	-79.85%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-94.80%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-99.51%	—	—
Current Drawdown Current decline from peak	-99.78%	-38.32%	-61.46%
Average Drawdown Average peak-to-trough decline	-85.18%	-30.52%	-54.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	34.87%	23.46%	+11.41%

Volatility

SCO vs. WXET - Volatility Comparison

The current volatility for ProShares UltraShort Bloomberg Crude Oil (SCO) is 20.24%, while Teucrium 2x Daily Wheat ETF (WXET) has a volatility of 21.79%. This indicates that SCO experiences smaller price fluctuations and is considered to be less risky than WXET based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SCO	WXET	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.24%	21.79%	-1.55%
Volatility (6M) Calculated over the trailing 6-month period	45.73%	39.68%	+6.05%
Volatility (1Y) Calculated over the trailing 1-year period	56.81%	50.14%	+6.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	59.76%	48.52%	+11.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	71.95%	48.52%	+23.43%

SCO vs. WXET - Expense Ratio Comparison

Both SCO and WXET have an expense ratio of 0.95%.

Dividends

SCO vs. WXET - Dividend Comparison

SCO has not paid dividends to shareholders, while WXET's dividend yield for the trailing twelve months is around 2.11%.

Position	TTM	2025	2024
SCO ProShares UltraShort Bloomberg Crude Oil	0.00%	0.00%	0.00%
WXET Teucrium 2x Daily Wheat ETF	2.11%	3.57%	0.13%

Frequently Asked Questions

Can I hold both SCO and WXET in my portfolio?

SCO and WXET have a correlation of -0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SCO or WXET?

WXET has higher volatility (21.79%) compared to SCO (20.24%). In terms of maximum drawdown, SCO dropped -99.80% vs WXET's -48.31%.

Which ETF is better, SCO or WXET?

On 1-year performance, WXET leads with -15.09% vs -67.35% for SCO. Both ETFs have the same 0.95% expense ratio. On volatility, SCO has been the lower-risk option at 20.24%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SCO or WXET?

Over the 1-year period, WXET has performed better with a -15.09% return vs -67.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SCO or WXET?

SCO and WXET have the same expense ratio: 0.95% per year.

Which ETF pays a higher dividend yield, SCO or WXET?

WXET has the higher dividend yield at 2.11%, compared with 0.00% for SCO.

What is the main difference between SCO and WXET?

They also come from different issuers: ProShares and Teucrium.

Which has better risk-adjusted returns?

WXET currently has the higher Sharpe Ratio (-0.30 vs -1.19), 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.