MYY vs. SSO
MYY (ProShares Short S&P Mid Cap400) and SSO (ProShares Ultra S&P500) are both exchange-traded funds - MYY is a Inverse Equities fund tracking the S&P Mid Cap 400 (-100%), while SSO is a Leveraged Equities fund tracking the S&P 500. Both are passively managed. Over the past 10 years, MYY returned -10.86%/yr vs 23.26%/yr for SSO. At a correlation of -0.87, they often move in opposite directions. MYY charges 0.95%/yr vs 0.87%/yr for SSO.
Performance
MYY vs. SSO - Performance Comparison
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Returns By Period
In the year-to-date period, MYY achieves a -11.79% return, which is significantly lower than SSO's 17.80% return. Over the past 10 years, MYY has underperformed SSO with an annualized return of -10.86%, while SSO has yielded a comparatively higher 23.26% annualized return.
MYY
- 1D
- -0.42%
- 1M
- 0.37%
- 6M
- -6.31%
- YTD
- -11.79%
- 1Y
- -14.85%
- 3Y*
- -8.11%
- 5Y*
- -6.74%
- 10Y*
- -10.86%
SSO
- 1D
- -1.03%
- 1M
- 0.06%
- 6M
- 14.60%
- YTD
- 17.80%
- 1Y
- 37.75%
- 3Y*
- 32.35%
- 5Y*
- 18.24%
- 10Y*
- 23.26%
MYY vs. SSO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MYY ProShares Short S&P Mid Cap400 | -11.79% | -4.05% | -7.08% | -9.46% | 10.23% | -23.04% | -25.94% | -19.98% | 12.79% | -14.63% |
SSO ProShares Ultra S&P500 | 17.80% | 26.19% | 43.48% | 46.65% | -38.98% | 60.57% | 21.54% | 63.45% | -14.60% | 44.35% |
Correlation
The correlation between MYY and SSO is -0.75, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.84 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.83 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2006 | -0.87 |
The correlation between MYY and SSO shifts across timeframes, from -0.87 (all time) to -0.75 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
MYY vs. SSO — Risk / Return Rank
MYY
SSO
MYY vs. SSO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short S&P Mid Cap400 (MYY) 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.
| MYY | SSO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.46 | ||
| Sortino ratioReturn per unit of downside risk | -3.30 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 1.27 | -0.41 |
| Calmar ratioReturn relative to maximum drawdown | -0.82 | 2.09 | -2.90 |
| Martin ratioReturn relative to average drawdown | -1.52 | 8.58 | -10.10 |
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Drawdowns
MYY vs. SSO - Drawdown Comparison
The maximum MYY drawdown since its inception was -95.20%, which is greater than SSO's maximum drawdown of -84.67%. Use the drawdown chart below to compare losses from any high point for MYY and SSO.
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Drawdown Indicators
| MYY | SSO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.20% | -84.67% | -10.53% |
Max Drawdown (1Y)Largest decline over 1 year | -18.25% | -18.17% | -0.08% |
Max Drawdown (3Y)Largest decline over 3 years | -35.14% | -35.21% | +0.07% |
Max Drawdown (5Y)Largest decline over 5 years | -37.79% | -46.73% | +8.94% |
Max Drawdown (10Y)Largest decline over 10 years | -71.93% | -59.34% | -12.59% |
Current DrawdownCurrent decline from peak | -95.11% | -2.70% | -92.41% |
Average DrawdownAverage peak-to-trough decline | -72.27% | -19.48% | -52.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.82% | 4.41% | +5.41% |
Volatility
MYY vs. SSO - Volatility Comparison
The current volatility for ProShares Short S&P Mid Cap400 (MYY) is 3.41%, while ProShares Ultra S&P500 (SSO) has a volatility of 6.83%. This indicates that MYY 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
| MYY | SSO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.41% | 6.83% | -3.42% |
Volatility (6M)Calculated over the trailing 6-month period | 11.68% | 19.92% | -8.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.70% | 25.02% | -9.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.59% | 33.87% | -14.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.20% | 35.86% | -14.66% |
MYY vs. SSO - Expense Ratio Comparison
MYY has a 0.95% expense ratio, which is higher than SSO's 0.87% expense ratio.
Dividends
MYY vs. SSO - Dividend Comparison
MYY's dividend yield for the trailing twelve months is around 4.32%, more than SSO's 0.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MYY ProShares Short S&P Mid Cap400 | 4.32% | 4.20% | 4.92% | 5.08% | 0.40% | 0.00% | 0.05% | 1.52% | 0.34% | 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
MYY and SSO have a correlation of -0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SSO has higher volatility (6.83%) compared to MYY (3.41%). In terms of maximum drawdown, MYY dropped -95.20% vs SSO's -84.67%.
On 10-year performance, SSO leads with 23.26% vs -10.86% for MYY. On fees, SSO is cheaper at 0.87% per year. On volatility, MYY has been the lower-risk option at 3.41%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SSO has performed better with a 23.26% return vs -10.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SSO is cheaper with a 0.87% expense ratio, compared with 0.95% for MYY.
MYY has the higher dividend yield at 4.32%, compared with 0.67% for SSO.
MYY is categorized as Inverse Equities, while SSO is Leveraged Equities. MYY tracks S&P Mid Cap 400 (-100%), while SSO tracks S&P 500. Their fees differ too: 0.95% for MYY and 0.87% for SSO.
SSO currently has the higher Sharpe Ratio (1.52 vs -0.95), 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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