ProShares Ultra SmallCap600 (SAA) belongs to the Leveraged Equities category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with SAA. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to SAA
SAA charges 0.95% annually. There are 92 ETFs in the Leveraged Equities category with lower expense ratios, going as low as 0.35%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| WisdomTree Efficient U.S. Plus International Equit... | 0.35% | 34.68M | Mar 2026 | SAA vs NTSD | |
| ETRACS IFED Invest with the Fed TR Index ETN | 0.45% | 48.99M | Sep 2021 | SAA vs IFED | |
| Direxion Daily S&P 500 Bull 2X ETF | 0.60% | 239.79M | May 2014 | SAA vs SPUU | |
| Leverage Shares 2x Long NEM Daily ETF | 0.75% | 1.35M | Nov 2025 | SAA vs NEMG | |
| Leverage Shares 2X Long CRM Daily ETF | 0.75% | 26.42M | Apr 2025 | SAA vs CRMG |
Best Risk-Adjusted Alternatives to SAA
SAA has a PortfoliosLab risk / return rank of 63. There are 35 ETFs in the Leveraged Equities category with higher risk-adjusted ranks, going as high as 98.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| GraniteShares 2x Long MU Daily ETF | 98 | 1.47B | Nov 2024 | SAA vs MULL | |
| Innovator U.S. Equity Accelerated Plus ETF | 98 | 22.60M | Apr 2021 | SAA vs XTAP | |
| GraniteShares 2x Long INTC Daily ETF | 98 | 785.62M | Feb 2025 | SAA vs INTW | |
| Innovator Growth Accelerated Plus ETF - April | 97 | 19.18M | Apr 2021 | SAA vs QTAP | |
| Direxion Daily Semiconductor Bull 3X ETF | 96 | 28.01B | Mar 2010 | SAA vs SOXL |
Top Performing SAA Alternatives (YTD)
SAA is at 36.86% YTD. There are 70 ETFs in the Leveraged Equities category with higher YTD returns, going as high as 780.13%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| GraniteShares 2x Long MU Daily ETF | 780.13% | 1.47B | Nov 2024 | SAA vs MULL | |
| GraniteShares 2x Long DELL Daily ETF | 762.51% | 169.15M | Feb 2025 | SAA vs DLLL | |
| GraniteShares 2x Long INTC Daily ETF | 750.22% | 785.62M | Feb 2025 | SAA vs INTW | |
| Direxion Daily INTC Bull 2X Shares | 744.89% | 104.27M | Nov 2025 | SAA vs LINT | |
| Leverage Shares 2X Long BE Daily ETF | 658.88% | 36.14M | Dec 2025 | SAA vs BEG |
Lowest Volatility Alternatives to SAA
SAA has 36.09% 1-year volatility. There are 62 ETFs in the Leveraged Equities category with lower 1-year volatility, going as low as 4.83%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Innovator U.S. Equity Accelerated Plus ETF | 4.83% | 22.60M | Apr 2021 | SAA vs XTAP | |
| Innovator Growth Accelerated Plus ETF - April | 6.12% | 19.18M | Apr 2021 | SAA vs QTAP | |
| Innovator U.S. Equity Accelerated Plus ETF - July | 7.35% | 13.35M | Jul 2021 | SAA vs XTJL | |
| Innovator Growth Accelerated Plus ETF - July | 9.88% | 22.17M | Jul 2021 | SAA vs QTJL | |
| Innovator US Equity Accelerated ETF | 10.50% | 68.78M | Apr 2021 | SAA vs XDSQ |
Lowest Drawdown Alternatives to SAA
SAA has a 1-year max drawdown of -18.21%. There are 21 ETFs in the Leveraged Equities category with shallower 1-year drawdowns, going as shallow as -1.72%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Innovator U.S. Equity Accelerated Plus ETF | -1.72% | 22.60M | Apr 2021 | SAA vs XTAP | |
| Innovator Growth Accelerated Plus ETF - April | -2.49% | 19.18M | Apr 2021 | SAA vs QTAP | |
| Innovator U.S. Equity Accelerated Plus ETF - July | -5.12% | 13.35M | Jul 2021 | SAA vs XTJL | |
| Innovator Growth Accelerated Plus ETF - July | -6.68% | 22.17M | Jul 2021 | SAA vs QTJL | |
| Innovator US Equity Accelerated ETF | -9.60% | 68.78M | Apr 2021 | SAA vs XDSQ |
Other ETFs from ProShares
The 10 most viewed ProShares ETFs shown here include TQQQ, BITO, QLD and span 10 categories. AUM among these funds goes as high as $40B.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| ProShares UltraPro QQQ | Leveraged Equities | 53 | 41.43% | 39.74B | Feb 2010 | SAA vs TQQQ | |
| ProShares Bitcoin Strategy ETF | Cryptocurrency | 2 | -29.93% | 1.42B | Oct 2021 | SAA vs BITO | |
| ProShares Ultra QQQ | Leveraged Equities | 53 | 29.58% | 14.59B | Jun 2006 | SAA vs QLD | |
| ProShares UltraPro S&P 500 | Leveraged Equities, S&P 500 | 49 | 17.21% | 5.36B | Jun 2009 | SAA vs UPRO | |
| ProShares Ultra S&P500 | Leveraged Equities, S&P 500 | 50 | 12.95% | 8.02B | Jun 2006 | SAA vs SSO | |
| ProShares S&P 500 Dividend Aristocrats ETF | Dividend, S&P 500, Large Cap Value Equities | 29 | 6.48% | 11.27B | Oct 2013 | SAA vs NOBL | |
| ProShares Ultra Semiconductors | Leveraged Equities, Semiconductors | 82 | 84.65% | 3.28B | Jan 2007 | SAA vs USD | |
| ProShares UltraPro Short QQQ | Leveraged Equities, Inverse Equities, Nasdaq-100 | 1 | -40.31% | 1.83B | Feb 2010 | SAA vs SQQQ | |
| ProShares Ultra VIX Short-Term Futures ETF | Volatility | 1 | -22.07% | 265.17M | Oct 2011 | SAA vs UVXY | |
| Proshares Ultra Bitcoin ETF | Cryptocurrency, Leveraged Cryptocurrency | 2 | -58.07% | 340.85M | Apr 2024 | SAA vs BITU |
Often Compared With SAA
Investors most often compare SAA with MVV, TNA, URTY. These 20 comparison targets span 8 categories, based on PortfoliosLab usage data.
Compare SAA with Any Fund or Stock
Compare SAA with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair SAA with funds that move differently
ProShares Ultra SmallCap600 alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to SAA.
Explore SAA Diversifiers