Skip to content
etf.net

UCO vs XLEX

ProShares Ultra Bloomberg Crude Oil

UCOCNYSE Arca

Corgi U.S. Energy 2x Daily ETF

XLEXCCboe

Overlap

Expense ratio

XLEX −0.50pt a year

UCO0.95%XLEX0.45%

Avg volume · 30D

UCO 1229.5×the volume

UCO2.69MXLEX2.19K

UCO vs XLEX Performance

Jul 31, 2026 – Oct 30, 2026

+66.2%UCO+33.9%XLEX

Jul 31, 2026 to Oct 30, 2026. UCO +66.2%. XLEX +33.9%. Use the arrow keys to read each point.0%20%Jul 2026Sep 2026Oct 2026
Expense ratio
UCO 0.95%
XLEX 0.45%, better
Fund size
UCO $510M
XLEX $1M
1Y total return
UCO +213.0%
XLEX No data
Holdings
UCO 1
XLEX 1
Avg volume (30D)
UCO 2.69M sh, better
XLEX 2.19K sh
NAV per share
UCO $68.02
XLEX $34.89
52W range

ETF.net Grade

UCO: Cost 32, Risk 52, Mission not scored, Tradability 80, Holdings not scored, Durability 70. XLEX: Cost 90, Risk 80, Mission not scored, Tradability 23, Holdings not scored, Durability 17.
Pillar letters and Scores for UCO, XLEX, with each pillar’s weight
PillarUCOXLEX
Cost30% weightD32A90Higher
Mission25% weightNot scoredNot scored
Risk15% weightC52A80Higher
Tradability15% weightA80HigherF23
Holdings10% weightNot scoredNot scored
Durability5% weightA70HigherF17

Rank among 2x/3x Long Energy funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. UCO and XLEX are both graded against the same 6 2x/3x Long Energy funds, so their Grades compare head to head.

2x/3x Long Energy⁠

Category · 6 funds
See all 6 ›

UCO ranks 2nd and XLEX 5th of 6 funds in the 2x/3x Long Energy Category.

  1. Rank 1BERXDirexion Daily Energy Bull 2X ETFScore 66
  2. Rank 2CGUSHDirexion Daily S&P Oil & Gas Exp. & Prod. Bull 2X ETFScore 50
  3. Rank 2CUCOProShares Ultra Bloomberg Crude OilScore 50
  4. Rank 4CDIGProShares Ultra EnergyScore 47
  5. Rank 5CXLEXCorgi U.S. Energy 2x Daily ETFScore 40
  6. Rank 6DBOILProShares Ultra Bloomberg Natural GasScore 33

Our read on each fund

ETF.net Research

UCOCProShares Ultra Bloomberg Crude Oil

XLEXCCorgi U.S. Energy 2x Daily ETF

In short

UCO Most 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.

XLEX No data

Stated mandate

UCO UCO seeks daily results, before fees and expenses, equal to two times the daily performance of the Bloomberg Commodity Balanced WTI Crude Oil Index.

XLEX No data

Why people hold it

  • UCO 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.

XLEX No data

Worth knowing

  • UCO 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.

XLEX No data

Full UCO profile⁠

Full XLEX profile⁠

UCO vs XLEX Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

UCO vs XLEX Cost

Overpaying UCO vs XLEX

$8,828

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • UCO 0.95%

    $17,869

  • XLEX 0.45%

    $9,041

$10,000
30 years

Cost over time

  • UCO 0.95%
  • XLEX 0.45%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530UCO $17,869XLEX $9,041

Year by year

YearUCOXLEXOverpaying
10$1,678$812$866
20$6,322$3,128$3,194
30$17,869$9,041$8,828

Expense ratio

  • 0.95%UCO
  • 0.45%XLEX, cheaper
  • Middle half of 2x/3x Long Energy funds
  • Median 0.94%

XLEX cheapest of 6 funds

UCO 4th cheapest of 6 funds

UCO vs XLEX Dividends

Last 12 months to Oct 30, 2026
Payout (12M)
UCO None
XLEX None

Distribution history

UCOAll UCO payments⁠

No distribution history available.

XLEXAll XLEX payments⁠

No distribution history available.

UCO vs XLEX Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
UCO 53.7%XLEX No data
Return per unit of riskSharpe ratio, 3 years
UCO 0.63XLEX No data
Worst fallMax drawdown, 5 years
UCO −67.2%XLEX No data
Market sensitivityBeta, 5 years
UCO 2.79XLEX 2.55

UCO and XLEX in the news

All news⁠

Popular comparisons

  • UCOCvsERXB

    ProShares Ultra Bloomberg Crude Oil · Direxion Daily Energy Bull 2X ETF

    Expense ratio
    0.95% · 0.91%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • XLEXCvsERXB

    Corgi U.S. Energy 2x Daily ETF · Direxion Daily Energy Bull 2X ETF

    Expense ratio
    0.45% · 0.91%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • UCOCvsGUSHC

    ProShares Ultra Bloomberg Crude Oil · Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X ETF

    Expense ratio
    0.95% · 0.94%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • XLEXCvsGUSHC

    Corgi U.S. Energy 2x Daily ETF · Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X ETF

    Expense ratio
    0.45% · 0.94%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • UCOCvsDIGC

    ProShares Ultra Bloomberg Crude Oil · ProShares Ultra Energy

    Expense ratio
    0.95% · 0.95%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • XLEXCvsDIGC

    Corgi U.S. Energy 2x Daily ETF · ProShares Ultra Energy

    Expense ratio
    0.45% · 0.95%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.