WTIU vs. UCO
WTIU (MicroSectors Energy 3X Leveraged ETN) and UCO (ProShares Ultra Bloomberg Crude Oil) are both exchange-traded funds - WTIU is a Leveraged Equities fund tracking the Solactive MicroSectors Energy Index - Benchmark TR Gross (--300%), while UCO is a Oil & Gas fund tracking the Bloomberg Commodity Balanced WTI Crude Oil Index (200%). Both are passively managed. Over the past 3 years, WTIU returned 0.02%/yr vs 9.81%/yr for UCO. Their 0.65 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.95% expense ratio.
Performance
WTIU vs. UCO - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with WTIU having a 104.80% return and UCO slightly higher at 109.21%.
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%
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%
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 |
WTIU vs. UCO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
WTIU MicroSectors Energy 3X Leveraged ETN | 104.80% | -17.13% | -29.63% | -28.45% |
UCO ProShares Ultra Bloomberg Crude Oil | 109.21% | -29.75% | 5.36% | -11.22% |
Correlation
The correlation between WTIU and UCO 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 WTIU and UCO has been stable across timeframes, ranging from 0.65 to 0.70 - a consistent structural relationship.
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Return for Risk
WTIU vs. UCO — Risk / Return Rank
WTIU
UCO
WTIU vs. UCO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MicroSectors Energy 3X Leveraged ETN (WTIU) 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.
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.
| WTIU | UCO | 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 | 1.24 | 1.19 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.09 | 1.46 | +0.63 |
| Martin ratioReturn relative to average drawdown | 4.79 | 3.75 | +1.04 |
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Drawdowns
WTIU vs. UCO - Drawdown Comparison
The maximum WTIU drawdown since its inception was -75.73%, smaller than the maximum UCO drawdown of -99.86%. Use the drawdown chart below to compare losses from any high point for WTIU and UCO.
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Drawdown Indicators
| WTIU | UCO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -75.73% | -99.86% | +24.13% |
Max Drawdown (1Y)Largest decline over 1 year | -48.11% | -38.55% | -9.56% |
Max Drawdown (3Y)Largest decline over 3 years | -75.73% | -50.38% | -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 | -27.41% | -83.77% | +56.36% |
Average DrawdownAverage peak-to-trough decline | -39.21% | -82.13% | +42.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.07% | 17.30% | +3.77% |
Volatility
WTIU vs. UCO - Volatility Comparison
The current volatility for MicroSectors Energy 3X Leveraged ETN (WTIU) is 21.18%, while ProShares Ultra Bloomberg Crude Oil (UCO) has a volatility of 22.33%. This indicates that WTIU 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.
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Volatility by Period
| WTIU | UCO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.18% | 22.33% | -1.15% |
Volatility (6M)Calculated over the trailing 6-month period | 57.82% | 51.79% | +6.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 69.90% | 60.01% | +9.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 70.86% | 60.46% | +10.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 70.86% | 317.65% | -246.79% |
WTIU vs. UCO - Expense Ratio Comparison
Both WTIU and UCO have an expense ratio of 0.95%.
Dividends
WTIU vs. UCO - Dividend Comparison
Neither WTIU nor UCO has paid dividends to shareholders.
Frequently Asked Questions
WTIU and UCO 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, WTIU dropped -75.73% vs UCO's -99.86%.
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.
WTIU and UCO have the same expense ratio: 0.95% per year.
WTIU and UCO have nearly identical dividend yields, around 0.00%.
WTIU is categorized as Leveraged Equities, while UCO is Oil & Gas. WTIU tracks Solactive MicroSectors Energy Index - Benchmark TR Gross (--300%), while UCO tracks Bloomberg Commodity Balanced WTI Crude Oil Index (200%). They also come from different issuers: REX and ProShares.
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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