USO vs. UCO
Compare and contrast key facts about United States Oil Fund LP (USO) and ProShares Ultra Bloomberg Crude Oil (UCO).
USO and UCO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. 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. Both USO and UCO 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: USO or UCO.
Key characteristics
| USO | UCO | |
|---|---|---|
| YTD Return | 13.85% | 20.00% |
| 1Y Return | 21.33% | 35.35% |
| 3Y Return (Ann) | 19.31% | 25.07% |
| 5Y Return (Ann) | -6.24% | -26.60% |
| 10Y Return (Ann) | -12.80% | -34.79% |
| Sharpe Ratio | 0.76 | 0.72 |
| Daily Std Dev | 26.88% | 47.02% |
| Max Drawdown | -98.19% | -99.95% |
| Current Drawdown | -91.93% | -99.50% |
Correlation
The correlation between USO and UCO 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
USO vs. UCO - Performance Comparison
In the year-to-date period, USO achieves a 13.85% return, which is significantly lower than UCO's 20.00% return. Over the past 10 years, USO has outperformed UCO with an annualized return of -12.80%, while UCO has yielded a comparatively lower -34.79% 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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USO vs. UCO - Expense Ratio Comparison
USO has a 0.79% expense ratio, which is lower than UCO's 0.95% expense ratio.
Risk-Adjusted Performance
USO vs. UCO - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for United States Oil Fund LP (USO) and ProShares Ultra Bloomberg Crude Oil (UCO). 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
USO vs. UCO - Dividend Comparison
Neither USO nor UCO has paid dividends to shareholders.
Drawdowns
USO vs. UCO - Drawdown Comparison
The maximum USO drawdown since its inception was -98.19%, roughly equal to the maximum UCO drawdown of -99.95%. Use the drawdown chart below to compare losses from any high point for USO and UCO. For additional features, visit the drawdowns tool.
Volatility
USO vs. UCO - Volatility Comparison
The current volatility for United States Oil Fund LP (USO) is 5.83%, while ProShares Ultra Bloomberg Crude Oil (UCO) has a volatility of 9.43%. This indicates that USO experiences smaller price fluctuations and is considered to be less risky than UCO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.