UCO vs. USO
Compare and contrast key facts about ProShares Ultra Bloomberg Crude Oil (UCO) and United States Oil Fund LP (USO).
UCO and USO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. UCO is a passively managed fund by ProShares that tracks the performance of the Dow Jones-UBS Crude Oil Sub-Index (200%). It was launched on Nov 24, 2008. USO is a passively managed fund by Concierge Technologies that tracks the performance of the Front Month Light Sweet Crude Oil. It was launched on Apr 10, 2006. Both UCO and USO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: UCO or USO.
Key characteristics
| UCO | USO | |
|---|---|---|
| YTD Return | -3.45% | 6.12% |
| 1Y Return | -17.21% | -2.70% |
| 3Y Return (Ann) | 2.55% | 8.13% |
| 5Y Return (Ann) | -26.25% | -6.07% |
| 10Y Return (Ann) | -32.79% | -11.17% |
| Sharpe Ratio | -0.37 | -0.11 |
| Sortino Ratio | -0.24 | 0.05 |
| Omega Ratio | 0.97 | 1.01 |
| Calmar Ratio | -0.18 | -0.03 |
| Martin Ratio | -1.20 | -0.38 |
| Ulcer Index | 14.78% | 7.82% |
| Daily Std Dev | 47.48% | 28.26% |
| Max Drawdown | -99.95% | -98.19% |
| Current Drawdown | -99.60% | -92.47% |
Correlation
The correlation between UCO and USO is 0.99, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
UCO vs. USO - Performance Comparison
In the year-to-date period, UCO achieves a -3.45% return, which is significantly lower than USO's 6.12% return. Over the past 10 years, UCO has underperformed USO with an annualized return of -32.79%, while USO has yielded a comparatively higher -11.17% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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UCO vs. USO - Expense Ratio Comparison
UCO has a 0.95% expense ratio, which is higher than USO's 0.79% expense ratio.
Risk-Adjusted Performance
UCO vs. USO - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Bloomberg Crude Oil (UCO) and United States Oil Fund LP (USO). 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.
Dividends
UCO vs. USO - Dividend Comparison
Neither UCO nor USO has paid dividends to shareholders.
Drawdowns
UCO vs. USO - Drawdown Comparison
The maximum UCO drawdown since its inception was -99.95%, roughly equal to the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for UCO and USO. For additional features, visit the drawdowns tool.
Volatility
UCO vs. USO - Volatility Comparison
ProShares Ultra Bloomberg Crude Oil (UCO) has a higher volatility of 16.13% compared to United States Oil Fund LP (USO) at 9.13%. This indicates that UCO's price experiences larger fluctuations and is considered to be riskier than USO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.