BETH vs. SSO

Last updated Jun 24, 2026

BETH (ProShares Bitcoin & Ether Market Cap Weight Strategy ETF) and SSO (ProShares Ultra S&P500) are both exchange-traded funds - BETH is a Cryptocurrency fund actively managed by ProShares, while SSO is a Leveraged Equities fund tracking the S&P 500. BETH is actively managed, while SSO is passively managed. Over the past year, BETH returned -40.77% vs 42.28% for SSO. At a 0.40 correlation, their price movements are largely independent. BETH charges 0.95%/yr vs 0.87%/yr for SSO.

Performance

BETH vs. SSO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Bitcoin & Ether Market Cap Weight Strategy ETF (BETH) and ProShares Ultra S&P500 (SSO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BETH achieves a -32.64% return, which is significantly lower than SSO's 12.95% return.

BETH

• 1D: -3.37%
• 1M: -18.22%
• YTD: -32.64%
• 6M: -32.87%
• 1Y: -40.77%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SSO

• 1D: -2.86%
• 1M: -3.30%
• YTD: 12.95%
• 6M: 10.86%
• 1Y: 42.28%
• 3Y*: 33.83%
• 5Y*: 17.91%
• 10Y*: 24.26%

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

BETH vs. SSO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BETH ProShares Bitcoin & Ether Market Cap Weight Strategy ETF	-32.64%	-11.20%	85.03%	39.34%
SSO ProShares Ultra S&P500	12.95%	26.19%	43.48%	22.12%

Correlation

The correlation between BETH and SSO is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (All Time) Calculated using the full available price history since Oct 2, 2023	0.40

Return for Risk

BETH vs. SSO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BETH

BETH Risk / Return Rank: 3
BETH Sharpe Ratio Rank: 2
BETH Sortino Ratio Rank: 3
BETH Omega Ratio Rank: 3
BETH Calmar Ratio Rank: 3
BETH Martin Ratio Rank: 3

SSO

SSO Risk / Return Rank: 50
SSO Sharpe Ratio Rank: 51
SSO Sortino Ratio Rank: 46
SSO Omega Ratio Rank: 48
SSO Calmar Ratio Rank: 49
SSO Martin Ratio Rank: 58

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.

BETH vs. SSO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Bitcoin & Ether Market Cap Weight Strategy ETF (BETH) and ProShares Ultra S&P500 (SSO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

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.

	BETH	SSO	Difference
Sharpe ratio: Return per unit of total volatility	-0.86	1.71	-2.57
Sortino ratio: Return per unit of downside risk	-1.18	2.24	-3.42
Omega ratio: Gain probability vs. loss probability	0.87	1.30	-0.43
Calmar ratio: Return relative to maximum drawdown	-0.73	2.34	-3.07
Martin ratio: Return relative to average drawdown	-1.24	9.90	-11.14

BETH vs. SSO - Sharpe Ratio Comparison

The current BETH Sharpe Ratio is -0.86, which is lower than the SSO Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of BETH and SSO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BETH vs. SSO - Drawdown Comparison

The maximum BETH drawdown since its inception was -56.03%, smaller than the maximum SSO drawdown of -84.67%. Use the drawdown chart below to compare losses from any high point for BETH and SSO.

Drawdown Indicators

	BETH	SSO	Difference
Max Drawdown Largest peak-to-trough decline	-56.03%	-84.67%	+28.64%
Max Drawdown (1Y) Largest decline over 1 year	-56.03%	-18.17%	-37.86%
Max Drawdown (3Y) Largest decline over 3 years	—	-35.21%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-46.73%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-59.34%	—
Current Drawdown Current decline from peak	-54.48%	-6.70%	-47.78%
Average Drawdown Average peak-to-trough decline	-18.31%	-19.53%	+1.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	33.01%	4.28%	+28.73%

Volatility

BETH vs. SSO - Volatility Comparison

ProShares Bitcoin & Ether Market Cap Weight Strategy ETF (BETH) has a higher volatility of 13.75% compared to ProShares Ultra S&P500 (SSO) at 9.70%. This indicates that BETH's price experiences larger fluctuations and is considered to be riskier than SSO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BETH	SSO	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.75%	9.70%	+4.05%
Volatility (6M) Calculated over the trailing 6-month period	36.61%	19.65%	+16.96%
Volatility (1Y) Calculated over the trailing 1-year period	47.49%	24.92%	+22.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.18%	33.85%	+17.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	51.18%	35.93%	+15.25%

BETH vs. SSO - Expense Ratio Comparison

BETH has a 0.95% expense ratio, which is higher than SSO's 0.87% expense ratio.

Dividends

BETH vs. SSO - Dividend Comparison

BETH's dividend yield for the trailing twelve months is around 60.67%, more than SSO's 0.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BETH ProShares Bitcoin & Ether Market Cap Weight Strategy ETF	60.67%	57.68%	19.71%	0.36%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SSO ProShares Ultra S&P500	0.65%	0.68%	0.85%	0.18%	0.50%	0.18%	0.20%	0.50%	0.75%	0.39%	0.51%	0.63%

Frequently Asked Questions

Can I hold both BETH and SSO in my portfolio?

BETH and SSO have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BETH or SSO?

BETH has higher volatility (13.75%) compared to SSO (9.70%). In terms of maximum drawdown, BETH dropped -56.03% vs SSO's -84.67%.

Which ETF is better, BETH or SSO?

On 1-year performance, SSO leads with 42.28% vs -40.77% for BETH. On fees, SSO is cheaper at 0.87% per year. On volatility, SSO has been the lower-risk option at 9.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BETH or SSO?

Over the 1-year period, SSO has performed better with a 42.28% return vs -40.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BETH or SSO?

SSO is cheaper with a 0.87% expense ratio, compared with 0.95% for BETH.

Which ETF pays a higher dividend yield, BETH or SSO?

BETH has the higher dividend yield at 60.67%, compared with 0.65% for SSO.

What is the main difference between BETH and SSO?

BETH is categorized as Cryptocurrency, while SSO is Leveraged Equities. Their fees differ too: 0.95% for BETH and 0.87% for SSO.

Which has better risk-adjusted returns?

SSO currently has the higher Sharpe Ratio (1.71 vs -0.86), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.