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BETZ vs. SSO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

BETZ vs. SSO

Last updated Aug 2, 2026
Documentation

BETZ (Roundhill Sports Betting & iGaming ETF) and SSO (ProShares Ultra S&P500) are both exchange-traded funds - BETZ is a Consumer Discretionary Equities fund tracking the Roundhill Sports Betting & iGaming Index, while SSO is a Leveraged Equities fund tracking the S&P 500. Both are passively managed. Over the past 5 years, BETZ returned -5.84%/yr vs 17.16%/yr for SSO. Their 0.66 correlation means they have sometimes moved together and sometimes differently. BETZ charges 0.75%/yr vs 0.87%/yr for SSO.

Performance

BETZ vs. SSO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Sports Betting & iGaming ETF (BETZ) and ProShares Ultra S&P500 (SSO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, BETZ achieves a -8.87% return, which is significantly lower than SSO's 16.14% return.

BETZ

1D
-0.58%
1M
0.36%
6M
2.90%
YTD
-8.87%
1Y
-16.95%
3Y*
3.15%
5Y*
-5.84%
10Y*
—
ALL TIME*
4.39%

SSO

1D
1.35%
1M
-0.01%
6M
13.46%
YTD
16.14%
1Y
37.35%
3Y*
30.77%
5Y*
17.16%
10Y*
23.19%
ALL TIME*
15.64%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

BETZ

Roundhill Sports Betting & iGaming ETF
$205.48K$310.34K$782.30K

SSO

ProShares Ultra S&P500
$177.82M$191.16M$223.05M

BETZ vs. SSO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
BETZ
Roundhill Sports Betting & iGaming ETF		-8.87%15.75%10.22%21.17%-42.02%-3.91%65.99%
SSO
ProShares Ultra S&P500		16.14%26.19%43.48%46.65%-38.98%60.57%42.89%

Correlation

The correlation between BETZ and SSO is 0.45, which is low. Their historical price movements had little consistent relationship.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.45

Correlation (3Y)
Balances recent behavior with more history.

0.59

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.66

Correlation (All Time)
Calculated using the full available price history since Jun 4, 2020

0.66

Over the past year, the correlation between BETZ and SSO has dropped to 0.45 - well below their long-term average of 0.66, suggesting their price drivers have been diverging.

BETZ vs. SSO - Sectors Allocation Comparison

Sectors
BETZ
SSO

Consumer Cyclical

77.1%
6.1%

Technology

8.6%
26.3%

Communication Services

3.9%
6.4%

Industrials

2.8%
5.4%

Financial Services

0.0%
25.4%

Basic Materials

-

1.3%

Consumer Defensive

-

3.2%

Energy

-

2.3%

Healthcare

-

6.3%

Real Estate

-

1.3%

Utilities

-

1.9%

Consumer Cyclical

BETZ
77.1%
SSO
6.1%

Technology

BETZ
8.6%
SSO
26.3%

Communication Services

BETZ
3.9%
SSO
6.4%

Industrials

BETZ
2.8%
SSO
5.4%

Financial Services

BETZ
0.0%
SSO
25.4%

Basic Materials

BETZ

-

SSO
1.3%

Consumer Defensive

BETZ

-

SSO
3.2%

Energy

BETZ

-

SSO
2.3%

Healthcare

BETZ

-

SSO
6.3%

Real Estate

BETZ

-

SSO
1.3%

Utilities

BETZ

-

SSO
1.9%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Roundhill Sports Betting & iGaming ETF

ProShares Ultra S&P500

Often compared with BETZ:
BETZ vs. FDISBETZ vs. ODDSBETZ vs. MGMBETZ vs. HTECBETZ vs. SPYBETZ vs. QQQBETZ vs. BRK-B
Often compared with SSO:
SSO vs. QLDSSO vs. SPYSSO vs. UPROSSO vs. VOOSSO vs. SPUUSSO vs. SPXLSSO vs. QQQ

Return for Risk

BETZ vs. SSO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
BETZ
BETZ Risk / Return Rank: 44
Overall Rank
BETZ Sharpe Ratio Rank: 33
Sharpe Ratio Rank
BETZ Sortino Ratio Rank: 33
Sortino Ratio Rank
BETZ Omega Ratio Rank: 33
Omega Ratio Rank
BETZ Calmar Ratio Rank: 44
Calmar Ratio Rank
BETZ Martin Ratio Rank: 55
Martin Ratio Rank
SSO
SSO Risk / Return Rank: 5454
Overall Rank
SSO Sharpe Ratio Rank: 5454
Sharpe Ratio Rank
SSO Sortino Ratio Rank: 5151
Sortino Ratio Rank
SSO Omega Ratio Rank: 5151
Omega Ratio Rank
SSO Calmar Ratio Rank: 5151
Calmar Ratio Rank
SSO Martin Ratio Rank: 6161
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BETZ vs. SSO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Sports Betting & iGaming ETF (BETZ) 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.

BETZSSODifference
Sharpe ratioReturn per unit of total volatility
-0.83
1.29

-2.12

Sortino ratioReturn per unit of downside risk
-1.09
1.79

-2.88

Omega ratioGain probability vs. loss probability

0.88

1.23

-0.35

Calmar ratioReturn relative to maximum drawdown

-0.60

1.81

-2.42

Martin ratioReturn relative to average drawdown

-0.93

7.25

-8.18

BETZ vs. SSO - Sharpe Ratio Comparison

The current BETZ Sharpe Ratio is -0.83, which is lower than the SSO Sharpe Ratio of 1.29. The chart below compares the historical Sharpe Ratios of BETZ 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.

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Drawdowns

BETZ vs. SSO - Drawdown Comparison

The maximum BETZ drawdown since its inception was -60.82%, smaller than the maximum SSO drawdown of -84.67%. Use the drawdown chart below to compare losses from any high point for BETZ and SSO.

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Drawdown Indicators

BETZSSODifference

Max Drawdown

Largest peak-to-trough decline

-60.82%

-84.67%

+23.85%

Max Drawdown (1Y)

Largest decline over 1 year

-29.20%

-18.17%

-11.03%

Max Drawdown (3Y)

Largest decline over 3 years

-29.20%

-35.21%

+6.01%

Max Drawdown (5Y)

Largest decline over 5 years

-59.79%

-46.73%

-13.06%

Max Drawdown (10Y)

Largest decline over 10 years

—

-59.34%

—

Current Drawdown

Current decline from peak

-38.35%

-4.07%

-34.28%

Average Drawdown

Average peak-to-trough decline

-33.89%

-19.45%

-14.44%

Ulcer Index

Depth and duration of drawdowns from previous peaks

18.92%

4.54%

+14.38%

Volatility

BETZ vs. SSO - Volatility Comparison

The current volatility for Roundhill Sports Betting & iGaming ETF (BETZ) is 5.96%, while ProShares Ultra S&P500 (SSO) has a volatility of 7.07%. This indicates that BETZ experiences smaller price fluctuations and is considered to be less risky than SSO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

BETZSSODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.96%

7.07%

-1.11%

Volatility (6M)

Calculated over the trailing 6-month period

17.04%

20.14%

-3.10%

Volatility (1Y)

Calculated over the trailing 1-year period

21.17%

25.63%

-4.46%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

26.97%

33.88%

-6.91%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

27.85%

35.91%

-8.06%

BETZ vs. SSO - Expense Ratio Comparison

BETZ has a 0.75% expense ratio, which is lower than SSO's 0.87% expense ratio.

Dividends

BETZ vs. SSO - Dividend Comparison

BETZ's dividend yield for the trailing twelve months is around 5.02%, more than SSO's 0.67% yield.

PositionTTM20252024202320222021202020192018201720162015
BETZ
Roundhill Sports Betting & iGaming ETF		5.02%4.57%0.86%0.00%0.66%0.00%0.28%0.00%0.00%0.00%0.00%0.00%
SSO
ProShares Ultra S&P500		0.67%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

BETZ and SSO have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SSO has higher volatility (7.07%) compared to BETZ (5.96%). In terms of maximum drawdown, BETZ dropped -60.82% vs SSO's -84.67%.

On 5-year performance, SSO leads with 17.16% vs -5.84% for BETZ. On fees, BETZ is cheaper at 0.75% per year. On volatility, BETZ has been the lower-risk option at 5.96%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, SSO has performed better with a 17.16% return vs -5.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

BETZ is cheaper with a 0.75% expense ratio, compared with 0.87% for SSO.

BETZ has the higher dividend yield at 5.02%, compared with 0.67% for SSO.

BETZ is categorized as Consumer Discretionary Equities, while SSO is Leveraged Equities. BETZ tracks Roundhill Sports Betting & iGaming Index, while SSO tracks S&P 500. They also come from different issuers: Roundhill and ProShares. Their fees differ too: 0.75% for BETZ and 0.87% for SSO.

SSO currently has the higher Sharpe Ratio (1.29 vs -0.83), 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.

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