WTIU vs. UCO

Last updated Apr 3, 2026

Compare and contrast key facts about MicroSectors Energy 3X Leveraged ETN (WTIU) and ProShares Ultra Bloomberg Crude Oil (UCO).

WTIU and UCO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. WTIU is a passively managed fund by REX that tracks the performance of the Solactive MicroSectors Energy Index - Benchmark TR Gross (--300%). It was launched on Feb 16, 2023. 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 WTIU 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.

Performance

WTIU vs. UCO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors Energy 3X Leveraged ETN (WTIU) and ProShares Ultra Bloomberg Crude Oil (UCO). The values are adjusted to include any dividend payments, if applicable.

WTIU vs. UCO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
WTIU MicroSectors Energy 3X Leveraged ETN	120.52%	-17.13%	-29.63%	-28.42%
UCO ProShares Ultra Bloomberg Crude Oil	105.28%	-29.75%	5.36%	-10.25%

Returns By Period

In the year-to-date period, WTIU achieves a 120.52% return, which is significantly higher than UCO's 105.28% return.

WTIU

• 1D: 3.42%
• 1M: 22.48%
• YTD: 120.52%
• 6M: 105.82%
• 1Y: 51.01%
• 3Y*: -0.93%
• 5Y*: —
• 10Y*: —

UCO

• 1D: 6.61%
• 1M: 38.24%
• YTD: 105.28%
• 6M: 84.55%
• 1Y: 44.53%
• 3Y*: 10.97%
• 5Y*: 22.91%
• 10Y*: -8.57%

*Multi-year figures are annualized to reflect compound growth (CAGR)

WTIU vs. UCO - Expense Ratio Comparison

Both WTIU and UCO have an expense ratio of 0.95%.

WTIU

MicroSectors Energy 3X Leveraged ETN

UCO

ProShares Ultra Bloomberg Crude Oil

Return for Risk

WTIU vs. UCO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

WTIU

WTIU Risk / Return Rank: 34
WTIU Sharpe Ratio Rank: 31
WTIU Sortino Ratio Rank: 42
WTIU Omega Ratio Rank: 43
WTIU Calmar Ratio Rank: 31
WTIU Martin Ratio Rank: 22

UCO

UCO Risk / Return Rank: 37
UCO Sharpe Ratio Rank: 37
UCO Sortino Ratio Rank: 45
UCO Omega Ratio Rank: 38
UCO Calmar Ratio Rank: 43
UCO Martin Ratio Rank: 24

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

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.

	WTIU	UCO	Difference
Sharpe ratio Return per unit of total volatility	0.63	0.78	-0.15
Sortino ratio Return per unit of downside risk	1.27	1.33	-0.06
Omega ratio Gain probability vs. loss probability	1.18	1.17	+0.02
Calmar ratio Return relative to maximum drawdown	0.98	1.34	-0.36
Martin ratio Return relative to average drawdown	1.82	2.24	-0.43
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WTIU vs. UCO - Sharpe Ratio Comparison

The current WTIU Sharpe Ratio is 0.63, which is comparable to the UCO Sharpe Ratio of 0.78. The chart below compares the historical Sharpe Ratios of WTIU and UCO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	WTIU	UCO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.63	0.78	-0.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.39	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.12	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.04	-0.36	+0.32

Correlation

The correlation between WTIU and UCO is 0.64, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

WTIU vs. UCO - Dividend Comparison

Neither WTIU nor UCO has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

WTIU vs. UCO - Drawdown Comparison

The maximum WTIU drawdown since its inception was -75.73%, smaller than the maximum UCO drawdown of -99.95%. Use the drawdown chart below to compare losses from any high point for WTIU and UCO.

Drawdown Indicators

	WTIU	UCO	Difference
Max Drawdown Largest peak-to-trough decline	-75.73%	-99.95%	+24.22%
Max Drawdown (1Y) Largest decline over 1 year	-35.46%	-34.77%	-0.69%
Max Drawdown (5Y) Largest decline over 5 years	—	-67.24%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-98.75%	—
Current Drawdown Current decline from peak	-21.83%	-99.36%	+77.53%
Average Drawdown Average peak-to-trough decline	-39.47%	-85.35%	+45.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	28.54%	20.77%	+7.77%

Volatility

WTIU vs. UCO - Volatility Comparison

The current volatility for MicroSectors Energy 3X Leveraged ETN (WTIU) is 22.53%, while ProShares Ultra Bloomberg Crude Oil (UCO) has a volatility of 26.16%. 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.

Volatility by Period

	WTIU	UCO	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.53%	26.16%	-3.63%
Volatility (6M) Calculated over the trailing 6-month period	46.64%	41.15%	+5.49%
Volatility (1Y) Calculated over the trailing 1-year period	81.74%	57.74%	+24.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	69.52%	59.16%	+10.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	69.52%	71.33%	-1.81%