UCO vs. GLDW
UCO (ProShares Ultra Bloomberg Crude Oil) and GLDW (Roundhill Gold WeeklyPay ETF) are both exchange-traded funds - UCO is a Oil & Gas fund tracking the Bloomberg Commodity Balanced WTI Crude Oil Index (200%), while GLDW is a Derivative Income fund actively managed by Roundhill Investments. UCO is passively managed, while GLDW is actively managed. Their -0.06 correlation means they have often moved in opposite directions in the past. UCO charges 0.95%/yr vs 0.99%/yr for GLDW.
Performance
UCO vs. GLDW - Performance Comparison
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Returns By Period
In the year-to-date period, UCO achieves a 109.21% return, which is significantly higher than GLDW's -10.18% return.
UCO
- 1D
- 1.00%
- 1M
- 24.87%
- 6M
- 67.72%
- YTD
- 109.21%
- 1Y
- 66.00%
- 3Y*
- 9.81%
- 5Y*
- 15.14%
- 10Y*
- 26.28%
- ALL TIME*
- -9.20%
GLDW
- 1D
- -1.58%
- 1M
- -2.25%
- 6M
- -21.62%
- YTD
- -10.18%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $259.24K | $286.30K | $479.68K | |
| $134.26M | $138.13M | $153.19M |
UCO vs. GLDW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
UCO ProShares Ultra Bloomberg Crude Oil | 109.21% | -9.17% |
GLDW Roundhill Gold WeeklyPay ETF | -10.18% | 9.36% |
Correlation
The correlation between UCO and GLDW is -0.06, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 30, 2025 | -0.06 |
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Return for Risk
UCO vs. GLDW — Risk / Return Rank
UCO
GLDW
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
UCO vs. GLDW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Bloomberg Crude Oil (UCO) and Roundhill Gold WeeklyPay ETF (GLDW). 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.
| UCO | GLDW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.19 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.46 | — | — |
| Martin ratioReturn relative to average drawdown | 3.75 | — | — |
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Drawdowns
UCO vs. GLDW - Drawdown Comparison
The maximum UCO drawdown since its inception was -99.86%, which is greater than GLDW's maximum drawdown of -32.55%. Use the drawdown chart below to compare losses from any high point for UCO and GLDW.
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Drawdown Indicators
| UCO | GLDW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.86% | -32.55% | -67.31% |
Max Drawdown (1Y)Largest decline over 1 year | -38.55% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -50.38% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -67.24% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -96.50% | — | — |
Current DrawdownCurrent decline from peak | -83.77% | -31.08% | -52.69% |
Average DrawdownAverage peak-to-trough decline | -82.13% | -13.26% | -68.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.30% | — | — |
Volatility
UCO vs. GLDW - Volatility Comparison
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Volatility by Period
| UCO | GLDW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.33% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 51.79% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 60.01% | 35.85% | +24.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 60.46% | 35.85% | +24.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 317.65% | 35.85% | +281.80% |
UCO vs. GLDW - Expense Ratio Comparison
UCO has a 0.95% expense ratio, which is lower than GLDW's 0.99% expense ratio.
Dividends
UCO vs. GLDW - Dividend Comparison
UCO has not paid dividends to shareholders, while GLDW's dividend yield for the trailing twelve months is around 26.73%.
| Position | TTM | 2025 |
|---|---|---|
GLDW Roundhill Gold WeeklyPay ETF | 26.73% | 3.75% |
UCO ProShares Ultra Bloomberg Crude Oil | 0.00% | 0.00% |
Frequently Asked Questions
UCO and GLDW have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, UCO is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UCO is cheaper with a 0.95% expense ratio, compared with 0.99% for GLDW.
GLDW has the higher dividend yield at 26.73%, compared with 0.00% for UCO.
UCO is categorized as Oil & Gas, while GLDW is Derivative Income. They also come from different issuers: ProShares and Roundhill Investments. Their fees differ too: 0.95% for UCO and 0.99% for GLDW.
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