UCOProShares Ultra Bloomberg Crude Oil
Seeks daily investment results, before fees and expenses, corresponding to two times (2x) the daily performance of the Bloomberg Commodity Balanced WTI Crude Oil Index.
By ProShares · Launched 2008
1.47%
#5,672 of 5,861 · expensive
$312M
#1,950 of 5,861 · large
+51.3%
17 years
#624 of 5,861 · established
Performance
Total-return NAV · USDTotal-return NAV, USD. Net of fund fees, before tax.
What's inside
How Beacon categorizes this fundWhat it actually holds
By weightConcentration
synthetic exposure — holdings shown are derivatives collateral, not the fund's positions
Asset allocation
Risk profile
Last 12 months · Sharpe & Sortino need 3+ yearsYear-on-year price swings
Worst peak-to-trough loss
Listing
- Exchange
- NYSE Arca
Full fund details
- Objective
- Seeks daily investment results, before fees and expenses, corresponding to two times (2x) the daily performance of the Bloomberg Commodity Balanced WTI Crude Oil Index.
- Strategy
- The principal investment strategy of UCO involves investing in financial instruments such as futures contracts, swap agreements, and options that provide exposure to its benchmark. The fund aims to achieve its investment objective through daily rebalancing to maintain its targeted exposure, focusing solely on achieving its daily performance goal rather than long-term results.
- Inception date
- November 24, 2008
- Fund family
- ProShares
Similar funds
Same asset class, closest by strategy & exposureOur take
Structural notes on how this fund behaves. Read our guide on the 6 warning signs.
Your return drifts the longer you hold
Leverage amplifies the index's daily move, by 2x or 3x. The fund resets every day, so over weeks and months your real return drifts from that multiple. It can run ahead in a smooth climb and bleed in a choppy one. Hold one for months and you own a different bet than the label suggests.
Sources: Cheng & Madhavan, 'The Dynamics of Leveraged and Inverse ETFs' (2009)
Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More
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Data updated on 2026-08-04