UCO vs. WTIU
UCO (ProShares Ultra Bloomberg Crude Oil) and WTIU (MicroSectors Energy 3X Leveraged ETN) are both exchange-traded funds - UCO is a Oil & Gas fund tracking the Bloomberg Commodity Balanced WTI Crude Oil Index (200%), while WTIU is a Leveraged Equities fund tracking the Solactive MicroSectors Energy Index - Benchmark TR Gross (--300%). Both are passively managed. Over the past 3 years, UCO returned 9.81%/yr vs 0.02%/yr for WTIU. Their 0.65 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.95% expense ratio.
Performance
UCO vs. WTIU - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with UCO having a 109.21% return and WTIU slightly lower at 104.80%.
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%
WTIU
- 1D
- 3.15%
- 1M
- 45.95%
- 6M
- 51.31%
- YTD
- 104.80%
- 1Y
- 114.64%
- 3Y*
- 0.02%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -4.45%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $134.26M | $138.13M | $153.19M | |
| $1.32M | $870.89K | $849.27K |
UCO vs. WTIU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
UCO ProShares Ultra Bloomberg Crude Oil | 109.21% | -29.75% | 5.36% | -11.22% |
WTIU MicroSectors Energy 3X Leveraged ETN | 104.80% | -17.13% | -29.63% | -28.45% |
Correlation
The correlation between UCO and WTIU is 0.70, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.70 |
Correlation (3Y) Balances recent behavior with more history. | 0.65 |
Correlation (All Time) Calculated using the full available price history since Feb 15, 2023 | 0.65 |
The correlation between UCO and WTIU has been stable across timeframes, ranging from 0.65 to 0.70 - a consistent structural relationship.
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Return for Risk
UCO vs. WTIU — Risk / Return Rank
UCO
WTIU
UCO vs. WTIU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Bloomberg Crude Oil (UCO) and MicroSectors Energy 3X Leveraged ETN (WTIU). 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 | WTIU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.50 | ||
| Sortino ratioReturn per unit of downside risk | -0.41 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.24 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.46 | 2.09 | -0.63 |
| Martin ratioReturn relative to average drawdown | 3.75 | 4.79 | -1.04 |
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Drawdowns
UCO vs. WTIU - Drawdown Comparison
The maximum UCO drawdown since its inception was -99.86%, which is greater than WTIU's maximum drawdown of -75.73%. Use the drawdown chart below to compare losses from any high point for UCO and WTIU.
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Drawdown Indicators
| UCO | WTIU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.86% | -75.73% | -24.13% |
Max Drawdown (1Y)Largest decline over 1 year | -38.55% | -48.11% | +9.56% |
Max Drawdown (3Y)Largest decline over 3 years | -50.38% | -75.73% | +25.35% |
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% | -27.41% | -56.36% |
Average DrawdownAverage peak-to-trough decline | -82.13% | -39.21% | -42.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.30% | 21.07% | -3.77% |
Volatility
UCO vs. WTIU - Volatility Comparison
ProShares Ultra Bloomberg Crude Oil (UCO) has a higher volatility of 22.33% compared to MicroSectors Energy 3X Leveraged ETN (WTIU) at 21.18%. This indicates that UCO's price experiences larger fluctuations and is considered to be riskier than WTIU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UCO | WTIU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.33% | 21.18% | +1.15% |
Volatility (6M)Calculated over the trailing 6-month period | 51.79% | 57.82% | -6.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 60.01% | 69.90% | -9.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 60.46% | 70.86% | -10.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 317.65% | 70.86% | +246.79% |
UCO vs. WTIU - Expense Ratio Comparison
Both UCO and WTIU have an expense ratio of 0.95%.
Dividends
UCO vs. WTIU - Dividend Comparison
Neither UCO nor WTIU has paid dividends to shareholders.
Frequently Asked Questions
UCO and WTIU have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UCO has higher volatility (22.33%) compared to WTIU (21.18%). In terms of maximum drawdown, UCO dropped -99.86% vs WTIU's -75.73%.
On 3-year performance, UCO leads with 9.81% vs 0.02% for WTIU. Both ETFs have the same 0.95% expense ratio. On volatility, WTIU has been the lower-risk option at 21.18%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, UCO has performed better with a 9.81% return vs 0.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UCO and WTIU have the same expense ratio: 0.95% per year.
UCO and WTIU have nearly identical dividend yields, around 0.00%.
UCO is categorized as Oil & Gas, while WTIU is Leveraged Equities. UCO tracks Bloomberg Commodity Balanced WTI Crude Oil Index (200%), while WTIU tracks Solactive MicroSectors Energy Index - Benchmark TR Gross (--300%). They also come from different issuers: ProShares and REX.
WTIU currently has the higher Sharpe Ratio (1.44 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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