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NAIL vs. SSO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

NAIL vs. SSO

Last updated Jul 21, 2026
Documentation

NAIL (Direxion Daily Homebuilders & Supplies Bull 3X Shares) and SSO (ProShares Ultra S&P500) are both Leveraged Equities funds - NAIL tracks the Dow Jones U.S. Select Home Construction Index (300%) while SSO tracks the S&P 500. Both are passively managed. Over the past 10 years, NAIL returned 2.37%/yr vs 22.87%/yr for SSO. A 0.58 correlation means they provide meaningful diversification when combined. NAIL charges 0.99%/yr vs 0.87%/yr for SSO.

Performance

NAIL vs. SSO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Homebuilders & Supplies Bull 3X Shares (NAIL) 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, NAIL achieves a -21.48% return, which is significantly lower than SSO's 14.99% return. Over the past 10 years, NAIL has underperformed SSO with an annualized return of 2.37%, while SSO has yielded a comparatively higher 22.87% annualized return.

NAIL

1D
-5.96%
1M
-14.99%
6M
-42.99%
YTD
-21.48%
1Y
-29.20%
3Y*
-20.33%
5Y*
-12.06%
10Y*
2.37%
ALL TIME*
0.18%

SSO

1D
-0.29%
1M
-1.70%
6M
12.09%
YTD
14.99%
1Y
33.08%
3Y*
31.07%
5Y*
17.34%
10Y*
22.87%
ALL TIME*
15.61%
*Multi-year figures are annualized to reflect compound growth (CAGR)

NAIL vs. SSO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
NAIL
Direxion Daily Homebuilders & Supplies Bull 3X Shares		-21.48%-40.43%-22.83%259.61%-75.23%168.20%-32.08%184.63%-73.96%268.71%
SSO
ProShares Ultra S&P500		14.99%26.19%43.48%46.65%-38.98%60.57%21.54%63.45%-14.60%44.35%

Correlation

The correlation between NAIL and SSO is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.40

Correlation (3Y)
Calculated over the trailing 3-year period

0.53

Correlation (5Y)
Calculated over the trailing 5-year period

0.62

Correlation (10Y)
Calculated over the trailing 10-year period

0.59

Correlation (All Time)
Calculated using the full available price history since Aug 19, 2015

0.58

The correlation between NAIL and SSO shifts across timeframes, from 0.40 (1 year) to 0.62 (5 years), reflecting how their relationship changes across market environments.

NAIL vs. SSO - Sectors Allocation Comparison

Sectors
NAIL
SSO

Consumer Cyclical

71.9%
6.4%

Industrials

19.0%
5.4%

Basic Materials

8.4%
1.1%

Real Estate

0.7%
1.2%

Communication Services

-

7.0%

Consumer Defensive

-

3.0%

Energy

-

2.1%

Financial Services

-

24.2%

Healthcare

-

6.0%

Technology

-

26.0%

Utilities

-

1.5%

Consumer Cyclical

NAIL
71.9%
SSO
6.4%

Industrials

NAIL
19.0%
SSO
5.4%

Basic Materials

NAIL
8.4%
SSO
1.1%

Real Estate

NAIL
0.7%
SSO
1.2%

Communication Services

NAIL

-

SSO
7.0%

Consumer Defensive

NAIL

-

SSO
3.0%

Energy

NAIL

-

SSO
2.1%

Financial Services

NAIL

-

SSO
24.2%

Healthcare

NAIL

-

SSO
6.0%

Technology

NAIL

-

SSO
26.0%

Utilities

NAIL

-

SSO
1.5%

Compare stocks, funds, or ETFs

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Direxion Daily Homebuilders & Supplies Bull 3X Shares

ProShares Ultra S&P500

Often compared with NAIL:
NAIL vs. ITBNAIL vs. XHBNAIL vs. DPSTNAIL vs. SPYNAIL vs. CURENAIL vs. PAVENAIL vs. WANT
Often compared with SSO:
SSO vs. QLDSSO vs. SPYSSO vs. UPROSSO vs. VOOSSO vs. SPUUSSO vs. SPXLSSO vs. QQQ

Return for Risk

NAIL vs. SSO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
NAIL
NAIL Risk / Return Rank: 88
Overall Rank
NAIL Sharpe Ratio Rank: 77
Sharpe Ratio Rank
NAIL Sortino Ratio Rank: 99
Sortino Ratio Rank
NAIL Omega Ratio Rank: 99
Omega Ratio Rank
NAIL Calmar Ratio Rank: 66
Calmar Ratio Rank
NAIL Martin Ratio Rank: 77
Martin Ratio Rank
SSO
SSO Risk / Return Rank: 5151
Overall Rank
SSO Sharpe Ratio Rank: 5151
Sharpe Ratio Rank
SSO Sortino Ratio Rank: 4747
Sortino Ratio Rank
SSO Omega Ratio Rank: 4949
Omega Ratio Rank
SSO Calmar Ratio Rank: 4747
Calmar Ratio Rank
SSO Martin Ratio Rank: 5858
Martin Ratio Rank
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.

NAIL vs. SSO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Homebuilders & Supplies Bull 3X Shares (NAIL) 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.

NAILSSODifference
Sharpe ratioReturn per unit of total volatility
-0.33
1.32

-1.65

Sortino ratioReturn per unit of downside risk
0.08
1.83

-1.75

Omega ratioGain probability vs. loss probability

1.01

1.24

-0.23

Calmar ratioReturn relative to maximum drawdown

-0.43

1.83

-2.26

Martin ratioReturn relative to average drawdown

-0.69

7.49

-8.17

NAIL vs. SSO - Sharpe Ratio Comparison

The current NAIL Sharpe Ratio is -0.33, which is lower than the SSO Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of NAIL 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

NAIL vs. SSO - Drawdown Comparison

The maximum NAIL drawdown since its inception was -93.75%, which is greater than SSO's maximum drawdown of -84.67%. Use the drawdown chart below to compare losses from any high point for NAIL and SSO.

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Drawdown Indicators

NAILSSODifference

Max Drawdown

Largest peak-to-trough decline

-93.75%

-84.67%

-9.08%

Max Drawdown (1Y)

Largest decline over 1 year

-67.85%

-18.17%

-49.68%

Max Drawdown (3Y)

Largest decline over 3 years

-82.09%

-35.21%

-46.88%

Max Drawdown (5Y)

Largest decline over 5 years

-84.40%

-46.73%

-37.67%

Max Drawdown (10Y)

Largest decline over 10 years

-93.75%

-59.34%

-34.41%

Current Drawdown

Current decline from peak

-77.56%

-5.02%

-72.54%

Average Drawdown

Average peak-to-trough decline

-44.13%

-19.47%

-24.66%

Ulcer Index

Depth and duration of drawdowns from previous peaks

42.56%

4.43%

+38.13%

Volatility

NAIL vs. SSO - Volatility Comparison

Direxion Daily Homebuilders & Supplies Bull 3X Shares (NAIL) has a higher volatility of 30.62% compared to ProShares Ultra S&P500 (SSO) at 6.60%. This indicates that NAIL'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.

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Volatility by Period

NAILSSODifference

Volatility (1M)

Calculated over the trailing 1-month period

30.62%

6.60%

+24.02%

Volatility (6M)

Calculated over the trailing 6-month period

64.50%

20.01%

+44.49%

Volatility (1Y)

Calculated over the trailing 1-year period

90.02%

25.15%

+64.87%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

88.05%

33.83%

+54.22%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

89.71%

35.88%

+53.83%

NAIL vs. SSO - Expense Ratio Comparison

NAIL has a 0.99% expense ratio, which is higher than SSO's 0.87% expense ratio.

Dividends

NAIL vs. SSO - Dividend Comparison

NAIL's dividend yield for the trailing twelve months is around 0.79%, more than SSO's 0.68% yield.

PositionTTM20252024202320222021202020192018201720162015
NAIL
Direxion Daily Homebuilders & Supplies Bull 3X Shares		0.79%1.55%0.63%0.22%0.00%0.00%0.01%0.17%0.35%1.25%0.00%0.00%
SSO
ProShares Ultra S&P500		0.68%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

NAIL and SSO have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

NAIL has higher volatility (30.62%) compared to SSO (6.60%). In terms of maximum drawdown, NAIL dropped -93.75% vs SSO's -84.67%.

On 10-year performance, SSO leads with 22.87% vs 2.37% for NAIL. On fees, SSO is cheaper at 0.87% per year. On volatility, SSO has been the lower-risk option at 6.60%. 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 22.87% return vs 2.37%. 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 0.99% for NAIL.

NAIL has the higher dividend yield at 0.79%, compared with 0.68% for SSO.

NAIL tracks Dow Jones U.S. Select Home Construction Index (300%), while SSO tracks S&P 500. They also come from different issuers: Direxion and ProShares. Their fees differ too: 0.99% for NAIL and 0.87% for SSO.

SSO currently has the higher Sharpe Ratio (1.32 vs -0.33), 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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