{
 "ticker": "UCO",
 "name": "ProShares Ultra Bloomberg Crude Oil",
 "issuer": "ProShares",
 "desk": "leverage",
 "url": "https://etfiq.com/funds/uco",
 "html": "https://etfiq.com/funds/uco",
 "markdown": "https://etfiq.com/funds/uco.md",
 "as_of": "2026-09-30",
 "verdict": "Three months to Sep 30, 2026: UCO returned +67.2% where its own daily promise gave +68.5%, 1.3 points short.",
 "key_facts": [
  {
   "key": "what_oilk_did",
   "label": "What OILK did",
   "value": "+31.5%",
   "source": null,
   "as_of": "2026-09-30",
   "sentence": "UCO, what OILK did: +31.5%, as of Sep 30, 2026."
  },
  {
   "key": "what_2_times_a_day_gives",
   "label": "What 2 times a day gives",
   "value": "+68.5%",
   "source": null,
   "as_of": "2026-09-30",
   "sentence": "UCO, what 2 times a day gives: +68.5%, as of Sep 30, 2026."
  },
  {
   "key": "what_the_fund_returned",
   "label": "What the fund returned",
   "value": "+67.2%",
   "source": null,
   "as_of": "2026-09-30",
   "sentence": "UCO, what the fund returned: +67.2%, as of Sep 30, 2026."
  },
  {
   "key": "the_fund_itself_cost",
   "label": "The fund itself cost",
   "value": "\u22121.3 pts",
   "source": null,
   "as_of": "2026-09-30",
   "sentence": "UCO, the fund itself cost: \u22121.3 pts, as of Sep 30, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$402m",
   "source": "issuer page, as of Sep 30, 2026",
   "as_of": "2026-09-30",
   "sentence": "UCO, net assets: $402m (issuer page, as of Sep 30, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.95%",
   "source": "issuer page",
   "as_of": "2026-09-30",
   "sentence": "UCO, expense ratio: 0.95% (issuer page)."
  }
 ],
 "fields": [
  {
   "key": "sets_out_to_return",
   "label": "Sets out to return",
   "value": "+2 times the daily move of OILK, reset daily",
   "source": null
  },
  {
   "key": "multiple_a_holder_actually_got_over_the_window",
   "label": "Multiple a holder actually got over the window",
   "value": "+2.14 times, against +2 stated",
   "source": "ETFIQ"
  },
  {
   "key": "underlying",
   "label": "Underlying",
   "value": "OILK",
   "source": null
  },
  {
   "key": "segment",
   "label": "Segment",
   "value": "asset class, commodity",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$402m",
   "source": "issuer page, as of Sep 30, 2026"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.95%",
   "source": "issuer page"
  },
  {
   "key": "launched",
   "label": "Launched",
   "value": "Jan 4, 2010",
   "source": null
  },
  {
   "key": "underlying_volatility_over_the_window",
   "label": "Underlying volatility over the window",
   "value": "32% annualized",
   "source": "ETFIQ"
  }
 ],
 "periods": [
  {
   "window": "1 month",
   "Fund": "+19.7%",
   "OILK": "+9.6%",
   "+2x the move": "+19.1%",
   "Difference": "+0.5 pts",
   "OILK moved about": "20%"
  },
  {
   "window": "3 months",
   "Fund": "+67.2%",
   "OILK": "+31.5%",
   "+2x the move": "+62.9%",
   "Difference": "+4.3 pts",
   "OILK moved about": "32%"
  },
  {
   "window": "6 months",
   "Fund": "+43.5%",
   "OILK": "+24.1%",
   "+2x the move": "+48.2%",
   "Difference": "\u22124.7 pts",
   "OILK moved about": "33%"
  },
  {
   "window": "1 year",
   "Fund": "+137.5%",
   "OILK": "+65.3%",
   "+2x the move": "+130.6%",
   "Difference": "+6.9 pts",
   "OILK moved about": "31%"
  },
  {
   "window": "3 years",
   "Fund": "+51.3%",
   "OILK": "+47.7%",
   "+2x the move": "+95.4%",
   "Difference": "\u221244.0 pts",
   "OILK moved about": "27%"
  },
  {
   "window": "Since launch",
   "Fund": "\u221256.6%",
   "OILK": "+58.6%",
   "+2x the move": "+117.2%",
   "Difference": "\u2212173.8 pts",
   "OILK moved about": "36%"
  }
 ],
 "questions": [
  {
   "q": "Did UCO return +2 times OILK?",
   "a": "Over the window to Sep 30, 2026, OILK moved +31.5% and UCO returned +67.2%. 2 times that move is +62.9%, so the fund came out 4.3 points ahead of it."
  },
  {
   "q": "Why does UCO not return +2 times over a year?",
   "a": "Because it resets daily. UCO aims at +2 times each day's move, and daily results compound. Over a run where the underlying falls and comes back, compounding a levered daily return leaves a holder behind what +2 times the period move would suggest; over a steady run in one direction it can leave them ahead. The longer the holding, and the more the underlying moves about, the further apart the two figures get."
  }
 ],
 "generated": "2026-10-01",
 "license": "https://etfiq.com/license/",
 "license_text": "Free to use with attribution. ETFIQ (etfiq.com)."
}