- ISIN
- US74347R1077
- CUSIP
- 74347R107
- Issuer
- ProShares
- Inception Date
- Jun 19, 2006
- Region
- North America (U.S.)
- Category
- Leveraged Equities, S&P 500
- Leveraged
- 2x
- Index Tracked
- S&P 500
- Domicile
- United States
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $8B
Share Price Chart
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Performance
SSO Performance Chart
ProShares Ultra S&P500 (SSO) is up 17.7% since the beginning of the year. SSO is currently trading at $68 per share. Investors who bought $1,000 worth of SSO shares 5 years ago would now be looking at an investment worth $2,425.
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Returns By Period
ProShares Ultra S&P500 (SSO) has returned 17.73% so far this year and 47.69% over the past 12 months. Looking at the last ten years, SSO has achieved an annualized return of 24.36%, outperforming the S&P 500 Index benchmark, which averaged 13.75% per year.
ProShares Ultra S&P500
- 1D
- -1.13%
- 1M
- 2.42%
- YTD
- 17.73%
- 6M
- 19.15%
- 1Y
- 47.69%
- 3Y*
- 34.35%
- 5Y*
- 19.38%
- 10Y*
- 24.36%
Benchmark (S&P 500 Index)
- 1D
- -0.57%
- 1M
- 1.39%
- YTD
- 9.73%
- 6M
- 10.46%
- 1Y
- 24.50%
- 3Y*
- 19.43%
- 5Y*
- 12.21%
- 10Y*
- 13.75%
SSO Monthly Returns History
Based on dividend-adjusted daily data since Jun 21, 2006, SSO's average daily return is +0.09%, while the average monthly return is +1.64%. At this rate, an investment would double in approximately 3.6 years.
Historically, 64% of months were positive and 36% were negative. The best month was Apr 2020 with a return of +25.2%, while the worst month was Oct 2008 at -34.6%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 6 months.
On a daily basis, SSO closed higher 55% of trading days. The best single day was Oct 13, 2008 with a return of +22.4%, while the worst single day was Mar 16, 2020 at -23.4%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 2.37% | -2.16% | -10.37% | 21.36% | 10.29% | -2.02% | 17.73% | ||||||
| 2025 | 4.73% | -3.12% | -11.65% | -4.12% | 12.22% | 9.95% | 4.05% | 3.54% | 6.69% | 4.13% | -0.21% | -0.39% | 26.19% |
| 2024 | 2.49% | 9.90% | 6.02% | -8.58% | 9.60% | 6.59% | 1.55% | 3.90% | 3.67% | -2.50% | 11.54% | -5.42% | 43.48% |
| 2023 | 12.22% | -5.63% | 6.65% | 2.57% | 0.29% | 12.61% | 6.09% | -4.02% | -9.85% | -5.00% | 18.26% | 8.70% | 46.65% |
| 2022 | -10.60% | -6.28% | 7.06% | -17.39% | -0.52% | -16.73% | 18.69% | -8.69% | -18.37% | 15.74% | 10.12% | -11.84% | -38.98% |
| 2021 | -2.30% | 5.29% | 8.95% | 10.61% | 1.09% | 4.37% | 4.67% | 5.92% | -9.41% | 14.28% | -1.72% | 8.84% | 60.57% |
Benchmark Metrics
ProShares Ultra S&P500 has an annualized alpha of 0.77%, beta of 1.95, and R2 of 0.99 versus S&P 500 Index. Calculated based on daily prices since June 21, 2006.
- This ETF captured 239.76% of S&P 500 Index gains and 168.67% of its losses - amplifying both gains and losses, but participating more in upside than downside.
- Beta of 1.95 means this ETF moves significantly more than S&P 500 Index - expect amplified gains in rallies and amplified losses in downturns.
- Alpha
- 0.77%
- Beta
- 1.95
- R²
- 0.99
- Upside Capture
- 239.76%
- Downside Capture
- 168.67%
Expense Ratio
SSO has an expense ratio of 0.87%, placing it in the medium range.
Return for Risk
Risk / Return Rank
SSO ranks 60 for risk / return — on par with similar ETFs. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for ProShares Ultra S&P500 (SSO) and compare them to 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.
| SSO | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.36 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.64 | 2.71 | -0.07 |
| Martin ratioReturn relative to average drawdown | 11.29 | 12.15 | -0.86 |
Dividends
Dividend History
ProShares Ultra S&P500 provided a 0.63% dividend yield over the last twelve months, with an annual payout of $0.43 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.43 | $0.40 | $0.39 | $0.06 | $0.11 | $0.06 | $0.05 | $0.09 | $0.09 | $0.05 | $0.05 | $0.05 |
Dividend yield | 0.63% | 0.68% | 0.85% | 0.18% | 0.50% | 0.18% | 0.20% | 0.50% | 0.75% | 0.39% | 0.51% | 0.63% |
Monthly Dividends
The table displays the monthly dividend distributions for ProShares Ultra S&P500. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.11 | $0.00 | $0.00 | $0.00 | $0.11 | ||||||
| 2025 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.10 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.12 | $0.40 |
| 2024 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.10 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.12 | $0.39 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.06 | $0.06 |
| 2022 | $0.00 | $0.00 | $0.02 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.09 | $0.11 |
| 2021 | $0.00 | $0.00 | $0.02 | $0.00 | $0.00 | $0.01 | $0.00 | $0.00 | $0.01 | $0.00 | $0.00 | $0.03 | $0.06 |
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 ProShares Ultra S&P500. 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 ProShares Ultra S&P500 was 84.67%, occurring on Mar 9, 2009. Recovery took 1165 trading sessions.
The current ProShares Ultra S&P500 drawdown is 2.76%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -84.67%Mar 2009 | 1y 5mo | 4y 7mo | 6y 14dOct 2007 - Oct 2013 |
COVID crash2020 | -59.34%Mar 2020 | 1mo 2d | 5mo 13d | 6mo 15dFeb 2020 - Sep 2020 |
Bear market2022 | -46.73%Oct 2022 | 9mo 11d | 1y 4mo | 2y 1moJan 2022 - Mar 2024 |
Rate-hike selloffLate 2018 | -36.57%Dec 2018 | 3mo 4d | 6mo 9d | 9mo 13dSep 2018 - Jul 2019 |
2025 selloff2025 | -35.21%Apr 2025 | 1mo 17d | 2mo 26d | 4mo 13dFeb 2025 - Jul 2025 |
Drawdown Indicators
| SSO | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.67% | -56.78% | -27.89% |
Max Drawdown (1Y)Largest decline over 1 year | -18.17% | -9.10% | -9.07% |
Max Drawdown (3Y)Largest decline over 3 years | -35.21% | -18.90% | -16.31% |
Max Drawdown (5Y)Largest decline over 5 years | -46.73% | -25.43% | -21.30% |
Max Drawdown (10Y)Largest decline over 10 years | -59.34% | -33.92% | -25.42% |
Current DrawdownCurrent decline from peak | -2.76% | -1.29% | -1.47% |
Average DrawdownAverage peak-to-trough decline | -19.54% | -10.72% | -8.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.24% | 2.02% | +2.22% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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