2x SSO/GLD/BND

Asset Allocation

Position	Category/Sector	Target Weight
SSO ProShares Ultra S&P500	Leveraged Equities, S&P 500	60%
GLD SPDR Gold Shares	Gold, Precious Metals	30%
BND Vanguard Total Bond Market ETF	Total Bond Market	10%

Benchmark Against

Benchmark

S&P 500 Index

Rebalance

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Performance

Performance Chart

The chart shows the growth of an initial investment of $10,000 in 2x SSO/GLD/BND, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends. The portfolio is rebalanced Every 3 months.

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Returns By Period

As of Jun 13, 2026, the 2x SSO/GLD/BND returned 13.52% Year-To-Date and 20.25% of annualized return in the last 10 years.

Position	1D	1M	YTD	6M	1Y	3Y*	5Y*	10Y*
Benchmark S&P 500 Index	1.65%	1.97%	10.35%	10.82%	26.39%	19.66%	12.33%	13.81%
Portfolio 2x SSO/GLD/BND	2.98%	1.26%	13.52%	14.01%	41.73%	31.59%	18.61%	20.25%
Portfolio components:
BND Vanguard Total Bond Market ETF	0.08%	1.11%	0.60%	0.87%	4.86%	4.03%	0.16%	1.57%
GLD SPDR Gold Shares	2.59%	-4.97%	0.06%	0.19%	25.38%	29.73%	18.31%	12.33%
SSO ProShares Ultra S&P500	3.47%	3.60%	19.08%	19.83%	52.23%	34.86%	19.63%	24.51%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Monthly Returns

Based on dividend-adjusted daily data since Apr 10, 2007, 2x SSO/GLD/BND's average daily return is +0.06%, while the average monthly return is +1.28%. At this rate, an investment would double in approximately 4.5 years.

Historically, 62% of months were positive and 38% were negative. The best month was Apr 2020 with a return of +17.5%, while the worst month was Oct 2008 at -26.4%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 6 months.

On a daily basis, 2x SSO/GLD/BND closed higher 55% of trading days. The best single day was Apr 9, 2025 with a return of +11.6%, while the worst single day was Mar 16, 2020 at -12.1%.

	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Total
2026	5.14%	1.70%	-9.66%	12.51%	6.35%	-1.79%							13.52%
2025	4.94%	-1.09%	-3.81%	-0.80%	7.00%	6.31%	2.22%	3.73%	7.65%	3.61%	1.55%	0.41%	35.87%
2024	1.05%	6.01%	6.31%	-4.46%	6.19%	3.94%	2.78%	3.10%	3.89%	-0.47%	5.96%	-3.92%	33.94%
2023	9.38%	-5.28%	6.63%	1.87%	-0.33%	7.02%	4.35%	-2.90%	-7.63%	-0.95%	11.79%	6.02%	31.89%
2022	-7.04%	-1.77%	3.93%	-11.34%	-1.29%	-10.11%	10.61%	-6.61%	-12.73%	8.66%	9.07%	-6.81%	-25.67%
2021	-2.43%	1.17%	5.20%	7.52%	2.92%	0.56%	3.68%	3.54%	-6.80%	8.90%	-1.24%	6.42%	32.30%

Benchmark Metrics

2x SSO/GLD/BND has an annualized alpha of 4.27%, beta of 1.11, and R2 of 0.92 versus S&P 500 Index. Calculated based on daily prices since April 10, 2007.

This portfolio captured 137.89% of S&P 500 Index gains and 112.64% of its losses - amplifying both gains and losses, but participating more in upside than downside.
This portfolio generated an annualized alpha of 4.27% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
With beta of 1.11 and R2 of 0.92, this portfolio moves broadly in line with S&P 500 Index - much of its variation is explained by market exposure rather than independent behavior.

Alpha: 4.27%

Beta: 1.11

R²: 0.92

Upside Capture: 137.89%

Downside Capture: 112.64%

See how alpha, beta & R² have trended over time →

Expense Ratio

2x SSO/GLD/BND has an expense ratio of 0.64%, placing it in the medium range. Below, you can find the expense ratios of the portfolio's funds side by side and easily compare their relative costs.

SSO

ProShares Ultra S&P500

GLD

SPDR Gold Shares

BND

Vanguard Total Bond Market ETF

Return for Risk

Risk / Return Rank

2x SSO/GLD/BND ranks 39 for risk / return — below 39% of Portfolios on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.

Overall Rank

Sharpe Ratio Rank

Sortino Ratio Rank

Omega Ratio Rank

Calmar Ratio Rank

Martin Ratio Rank

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

Return / Risk — by metrics

The table below presents risk-adjusted performance metrics for 2x SSO/GLD/BND and compares them with S&P 500 Index.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	Portfolio	Benchmark	Difference
Sharpe ratioReturn per unit of total volatility	2.19	2.14	+0.05
Sortino ratioReturn per unit of downside risk	2.81	2.89	-0.08
Omega ratioGain probability vs. loss probability	1.39	1.39	0.00
Calmar ratioReturn relative to maximum drawdown	2.66	2.91	-0.25
Martin ratioReturn relative to average drawdown	11.03	13.08	-2.05

How much return does each position deliver for the risk it carries? Higher values mean better reward for the risk taken.

Position	Risk / Return Rank	Sharpe ratio	Sortino ratio	Omega ratio	Calmar ratio	Martin ratio
BND Vanguard Total Bond Market ETF	40	1.31	1.97	1.23	1.82	5.29
GLD SPDR Gold Shares	27	0.93	1.30	1.19	1.04	2.97
SSO ProShares Ultra S&P500	69	2.13	2.69	1.36	2.89	12.36

Sharpe Ratio

The Sharpe ratio helps investors understand how much return they're getting for the level of risk taken. A higher Sharpe ratio indicates better risk-adjusted performance, meaning more reward for each unit of risk. Learn how to interpret the Sharpe ratio.

The current 2x SSO/GLD/BND Sharpe ratio is 2.19 as of Jun 13, 2026 (the value is recalculated daily), calculated over the past 12 months.

Compared to the broad market, where average Sharpe ratios range from 1.59 to 2.48, this portfolio's current Sharpe ratio falls between the 25th and 75th percentiles. This indicates that its risk-adjusted performance is in line with the majority of portfolios, suggesting a balanced approach to risk and return—likely suitable for a wide range of investors.

The chart below shows the rolling Sharpe ratio of 2x SSO/GLD/BND compared to the selected benchmark. This view highlights how the investment's risk-adjusted performance has changed over time.

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Dividends

Dividend yield

2x SSO/GLD/BND provided a 0.77% dividend yield over the last twelve months.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Portfolio	0.77%	0.80%	0.88%	0.42%	0.56%	0.32%	0.36%	0.57%	0.73%	0.49%	0.55%	0.63%
Portfolio components:
BND Vanguard Total Bond Market ETF	3.95%	3.86%	3.67%	3.09%	2.60%	2.12%	2.38%	2.72%	2.81%	2.54%	2.51%	2.57%
GLD SPDR Gold Shares	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SSO ProShares Ultra S&P500	0.62%	0.68%	0.85%	0.18%	0.50%	0.18%	0.20%	0.50%	0.75%	0.39%	0.51%	0.63%

Drawdowns

Drawdowns Chart

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.

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Worst Drawdowns

The table below displays the maximum drawdowns of the 2x SSO/GLD/BND. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the 2x SSO/GLD/BND was 61.28%, occurring on Mar 9, 2009. Recovery took 524 trading sessions.

The current 2x SSO/GLD/BND drawdown is 4.83%.

Related event	Drawdown	Fall	Recovery	Underwater
Financial crisis2007–2009	-61.28%Mar 2009	1y 4mo	2y 27d	3y 5moNov 2007 - Apr 2011
COVID crash2020	-37.47%Mar 2020	1mo 2d	4mo 8d	5mo 10dFeb 2020 - Jul 2020
Bear market2022	-33.40%Oct 2022	9mo 20d	1y 3mo	2y 1moDec 2021 - Jan 2024
2025 selloff2025	-21.42%Apr 2025	1mo 17d	2mo 3d	3mo 20dFeb 2025 - Jun 2025
Rate-hike selloffLate 2018	-21.20%Dec 2018	10mo 29d	2mo 27d	1y 1moJan 2018 - Mar 2019

Volatility

Volatility Chart

The chart below shows the rolling one-month volatility.

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Diversification

Diversification Metrics

Number of Effective Assets

The portfolio contains 3 assets, with an effective number of assets of 2.17, reflecting the diversification based on asset allocation. Your capital is well-distributed across most of your holdings, with only mild concentration in a few names. True diversification also depends on the correlations between assets — check the diversification ratio below.

Diversification Ratio

	1Y	3Y	5Y	10Y	All Time
Diversification Ratio	1.23	1.22	1.20	1.19	1.21

The portfolio has a diversification ratio of 1.21, in line with the typical range across portfolios. There's room to improve by adding less correlated assets.

2x SSO/GLD/BND correlation to the S&P 500 Index

2x SSO/GLD/BND has a 0.91 correlation to S&P 500 Index over the trailing 12 months. This section compares each holding's correlation to the benchmark and to the portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Apr 10, 2007	0.95

Benchmark Correlations

Correlation vs. S&P 500 Index. SSO has the highest benchmark correlation at 0.99, while BND has the lowest at -0.13.

BND

-0.13

GLD

0.06

SSO

0.99

Portfolio Correlations

Correlation vs. 2x SSO/GLD/BND. SSO has the highest portfolio correlation at 0.96, while BND has the lowest at -0.05.

BND

-0.05

GLD

0.30

SSO

0.96

Asset Correlations Table

The table below displays the correlation coefficients between the individual components of the portfolio, the entire portfolio, and the chosen benchmark.

	BND	GLD	SSO
BND	1.00	0.25	-0.13
GLD	0.25	1.00	0.06
SSO	-0.13	0.06	1.00

The correlation results are calculated based on daily price changes starting from Apr 10, 2007

Diversification Analysis

Find what 2x SSO/GLD/BND is missing

See which holdings overlap, where 2x SSO/GLD/BND is concentrated, and which low-correlation assets could fill the gaps.

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