CW8U.L vs. SSO

Last updated Jun 9, 2026

CW8U.L (Amundi MSCI World UCITS USD) and SSO (ProShares Ultra S&P500) are both exchange-traded funds - CW8U.L is a Global Equities fund tracking the MSCI ACWI NR USD, while SSO is a Leveraged Equities fund tracking the S&P 500. Both are passively managed. Over the past 5 years, CW8U.L returned 11.16%/yr vs 18.74%/yr for SSO. A 0.56 correlation means they provide meaningful diversification when combined. CW8U.L charges 0.28%/yr vs 0.87%/yr for SSO.

Performance

CW8U.L vs. SSO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amundi MSCI World UCITS USD (CW8U.L) 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, CW8U.L achieves a 7.97% return, which is significantly lower than SSO's 14.49% return.

CW8U.L

• 1D: -0.54%
• 1M: 0.75%
• YTD: 7.97%
• 6M: 9.11%
• 1Y: 23.28%
• 3Y*: 19.80%
• 5Y*: 11.16%
• 10Y*: —

SSO

• 1D: 0.47%
• 1M: -0.08%
• YTD: 14.49%
• 6M: 14.11%
• 1Y: 45.16%
• 3Y*: 35.32%
• 5Y*: 18.74%
• 10Y*: 23.71%

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

CW8U.L vs. SSO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
CW8U.L Amundi MSCI World UCITS USD	7.97%	20.32%	19.03%	24.06%	-18.23%	22.09%	15.78%	28.00%	-9.23%
SSO ProShares Ultra S&P500	14.49%	26.19%	43.48%	46.65%	-38.98%	60.57%	21.54%	63.45%	-11.22%

Correlation

The correlation between CW8U.L and SSO is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.57
Correlation (All Time) Calculated using the full available price history since Apr 26, 2018	0.56

The correlation between CW8U.L and SSO shifts across timeframes, from 0.56 (all time) to 0.68 (1 year), reflecting how their relationship changes across market environments.

CW8U.L vs. SSO - Sectors Allocation Comparison

Sectors	CW8U.L	SSO
Technology	28.3%	35.6%
Financial Services	15.7%	11.8%
Industrials	11.4%	8.3%
Consumer Cyclical	9.3%	10.1%
Communication Services	9.3%	11.2%
Healthcare	8.8%	8.5%
Consumer Defensive	5.2%	4.9%
Energy	4.2%	3.5%
Basic Materials	3.3%	1.8%
Utilities	2.7%	2.4%
Real Estate	1.9%	1.9%

Return for Risk

CW8U.L vs. SSO — Risk / Return Rank

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

CW8U.L

CW8U.L Risk / Return Rank: 67
CW8U.L Sharpe Ratio Rank: 66
CW8U.L Sortino Ratio Rank: 73
CW8U.L Omega Ratio Rank: 66
CW8U.L Calmar Ratio Rank: 61
CW8U.L Martin Ratio Rank: 70

SSO

SSO Risk / Return Rank: 60
SSO Sharpe Ratio Rank: 63
SSO Sortino Ratio Rank: 56
SSO Omega Ratio Rank: 58
SSO Calmar Ratio Rank: 56
SSO Martin Ratio Rank: 65

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.

CW8U.L vs. SSO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amundi MSCI World UCITS USD (CW8U.L) 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.

	CW8U.L	SSO	Difference
Sharpe ratio: Return per unit of total volatility	1.95	1.88	+0.07
Sortino ratio: Return per unit of downside risk	2.93	2.42	+0.51
Omega ratio: Gain probability vs. loss probability	1.35	1.33	+0.03
Calmar ratio: Return relative to maximum drawdown	2.73	2.50	+0.23
Martin ratio: Return relative to average drawdown	11.66	10.89	+0.77
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CW8U.L vs. SSO - Sharpe Ratio Comparison

The current CW8U.L Sharpe Ratio is 1.95, which is comparable to the SSO Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of CW8U.L 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.

Sharpe Ratios by Period

	CW8U.L	SSO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.95	1.88	+0.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.72	0.56	+0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.66	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.74	0.41	+0.33

Drawdowns

CW8U.L vs. SSO - Drawdown Comparison

The maximum CW8U.L drawdown since its inception was -34.10%, smaller than the maximum SSO drawdown of -84.67%. Use the drawdown chart below to compare losses from any high point for CW8U.L and SSO.

Drawdown Indicators

	CW8U.L	SSO	Difference
Max Drawdown Largest peak-to-trough decline	-34.10%	-84.67%	+50.57%
Max Drawdown (1Y) Largest decline over 1 year	-8.48%	-18.17%	+9.69%
Max Drawdown (3Y) Largest decline over 3 years	-17.26%	-35.21%	+17.95%
Max Drawdown (5Y) Largest decline over 5 years	-25.79%	-46.73%	+20.94%
Max Drawdown (10Y) Largest decline over 10 years	—	-59.34%	—
Current Drawdown Current decline from peak	-2.07%	-5.43%	+3.36%
Average Drawdown Average peak-to-trough decline	-5.04%	-19.56%	+14.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.99%	4.16%	-2.17%

Volatility

CW8U.L vs. SSO - Volatility Comparison

The current volatility for Amundi MSCI World UCITS USD (CW8U.L) is 3.25%, while ProShares Ultra S&P500 (SSO) has a volatility of 7.49%. This indicates that CW8U.L 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.

Volatility by Period

	CW8U.L	SSO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.25%	7.49%	-4.24%
Volatility (6M) Calculated over the trailing 6-month period	9.18%	18.61%	-9.43%
Volatility (1Y) Calculated over the trailing 1-year period	11.89%	24.14%	-12.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.64%	33.73%	-18.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.77%	35.94%	-19.17%

CW8U.L vs. SSO - Expense Ratio Comparison

CW8U.L has a 0.28% expense ratio, which is lower than SSO's 0.87% expense ratio.

Dividends

CW8U.L vs. SSO - Dividend Comparison

CW8U.L has not paid dividends to shareholders, while SSO's dividend yield for the trailing twelve months is around 0.64%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CW8U.L Amundi MSCI World UCITS USD	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	0.64%	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 CW8U.L and SSO in my portfolio?

CW8U.L and SSO have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CW8U.L or SSO?

On fees, CW8U.L is cheaper at 0.28% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CW8U.L or SSO?

CW8U.L is cheaper with a 0.28% expense ratio, compared with 0.87% for SSO.

What is the main difference between CW8U.L and SSO?

CW8U.L is categorized as Global Equities, while SSO is Leveraged Equities. CW8U.L tracks MSCI ACWI NR USD, while SSO tracks S&P 500. They also come from different issuers: Amundi and ProShares. Their fees differ too: 0.28% for CW8U.L and 0.87% for SSO.