5 Worst Performing Commodity ETFs in 2023

2. ProShares UltraShort Bloomberg Crude Oil (NYSE:SCO)

5 Year Share Price Gains: -94.41%

ProShares UltraShort Bloomberg Crude Oil (NYSE:SCO), like the previous ETF, is also an inverse fund. And, as its title suggests, the fund seeks to make a return when crude oil prices drop. So naturally, if you take a look at its share price movements since 2008 when the fund was initially set up, all the big peaks, which are often six to eight times greater in magnitude than the trough prices occur when the global economy is facing a crisis. The biggest peak came during the Great Recession of 2008 and the 2016 oil price crash which was the greatest drop in modern history up to that point.