Share-split context: This ETF has both forward- and reverse-split history. The most recent recorded event was on May 28, 2026 with coefficient 0.25. Current price-return figures are already split-adjusted. Forward splits receive no automatic performance penalty; reverse-split history remains a separate structural warning.

Understanding ProShares UltraShort Bloomberg Crude Oil -2x Shares (SCO)

The ProShares UltraShort Bloomberg Crude Oil -2x Shares (SCO) is a leveraged and inverse ETF. It is designed to move in the opposite direction of crude oil prices, aiming for twice the opposite daily return of its benchmark.

What the Numbers Show

The data for SCO shows a significant decline in value over several timeframes. Because this fund has a history of share splits, we look at split-adjusted returns to see how it has performed:

• Year-to-Date (YTD): The price return and total return are both -75.29%.

• One Year: The price return and total return are both -72.49%.

• Three Year: The price return and total return are both -75.06%.

• Five Year: The total return is -92.91%.

The current price as of October 7, 2026, is $19.38.

Income and Distribution Explanation

SCO is not designed to provide regular income. The data shows a distribution yield of 0%, with no distributions detected and zero payouts over the last 12 months. Consequently, it has an income rating grade of "F."

Price and NAV Erosion Explanation

The supplied data is sufficient to evaluate price erosion, but it does not include enough historical NAV-per-share data to confirm or rule out NAV erosion.

However, the price-based evidence is significant. SCO has a severe erosion-risk flag and an erosion score of 10, which is labeled as "Severe price erosion." This means the split-adjusted price trend and the erosion score have triggered a warning about the loss of share value over time.

Share Split History

SCO has a "mixed" split history, meaning it has had both forward and reverse splits (5 events in total). The most recent event occurred on May 28, 2026, with a coefficient of 0.25. In a split, the number of shares and the price per share change, but the total value of the investment at the moment of the split does not change.

Pros

• Provides a way for investors to bet that crude oil prices will fall.

• Uses leverage to amplify the opposite movement of the oil market.

Cons

• Has experienced severe price erosion over the short, medium, and long term.

• Provides no cash income or distributions to investors.

• High risk of significant capital loss, as shown by the five-year total return of -92.91%.

Beginner Takeaway

SCO is a high-risk tool used for short-term trading rather than long-term investing. It is an inverse leveraged ETF, meaning it seeks to profit when oil prices drop. The historical data shows a severe decline in share price over several years, and it does not pay dividends.