ProShares Ultra Bloomberg Crude Oil
This fund multiplies its index's move each day and resets that multiple daily. Because daily returns compound, its long-run return can differ from the headline multiple.
$51.90+1.27 (+2.52%)
- Expense ratio
- 0.95%
- Fund size
- $438M
- 1Y return
- +125.2%
- Yield · Last 12 months
- —
- Holdings
- 9
- Volume · 30D
- 3M sh
- NAV per share
- $53.13
- 52W range
The ETF.net UCO Grade
Score 50 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.CScore 41Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.Not scoredRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.CScore 49Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.BScore 64Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.Not scoredDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.BScore 67Category rank
Our read on UCO
CMost leveraged energy funds juice oil-company stocks. UCO levers the barrel itself: 2x the daily move of a WTI futures index that spreads across three roll schedules instead of camping in the front-month contract.
UCO seeks daily results, before fees and expenses, equal to two times the daily performance of the Bloomberg Commodity Balanced WTI Crude Oil Index.
Why people hold it
- Crude, not drillers: 2x the daily move of a WTI futures index, while cohort peers ERX, GUSH and DIG lever baskets of energy stocks.proshares.com
- The benchmark splits equally across monthly, June-annual and December-annual futures roll schedules, reset semi-annually, so it is not pinned to the front-month contract.proshares.comsec.gov
- Actively traded, and its 0.95% expense ratio sits right at the median for 2x energy funds. Live since 2008, through several oil booms and busts.
Worth knowing
- The leverage resets daily. Hold past a day and compounding takes over, so multi-day results can differ from 2x the period's oil move, especially in choppy markets.proshares.com
- Structured as a commodity pool, so tax time brings a Schedule K-1 rather than a 1099.proshares.com
- A price-move vehicle, not an income one: the fund has not been paying distributions.
UCO Holdings
- Other
- 9
- 100%
- Net Other Assets (Liabilities)
UCO Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
UCO$22,522
Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | UCO |
|---|---|
| Year to date | +162.1% |
| 1 month | +11.2% |
| 3 months | +42.3% |
| 1 year | +125.2% |
| 3 years | +12.6% |
| 5 years | +21.0% |
| 10 years | −8.3% |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | UCO |
|---|---|---|
| 2026 YTD | +162.1% | |
| 2025 | −29.7% | |
| 2024 | +5.4% | |
| 2023 | −13.9% | |
| 2022 | +39.7% | |
| 2021 | +139.3% | |
| 2020 | −92.9% |
UCO in the news
UCO Dividends
No distributions in the last 12 months.
UCO Risk
This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.
- 51.6%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.36
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −67.2%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 2.79
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
UCO Cost
0.95%
UCO0.95%
- The middle half of 2x/3x Long Energy funds
- Median 0.94%
3 of the 6 2x/3x Long Energy funds charge less.