RXD vs. SSO
RXD (ProShares UltraShort Health Care) and SSO (ProShares Ultra S&P500) are both Leveraged Equities funds from ProShares - RXD tracks the DJ Global United States (All) / Health Care -IND (-200%) while SSO tracks the S&P 500. Both are passively managed. Over the past 10 years, RXD returned -20.50%/yr vs 24.71%/yr for SSO. At a correlation of -0.63, they often move in opposite directions. RXD charges 0.95%/yr vs 0.87%/yr for SSO.
Performance
RXD vs. SSO - Performance Comparison
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Returns By Period
In the year-to-date period, RXD achieves a -1.40% return, which is significantly lower than SSO's 12.77% return. Over the past 10 years, RXD has underperformed SSO with an annualized return of -20.50%, while SSO has yielded a comparatively higher 24.71% annualized return.
RXD
- 1D
- -3.08%
- 1M
- -9.66%
- YTD
- -1.40%
- 6M
- 0.04%
- 1Y
- -25.85%
- 3Y*
- -8.16%
- 5Y*
- -7.55%
- 10Y*
- -20.50%
SSO
- 1D
- -0.02%
- 1M
- -4.70%
- YTD
- 12.77%
- 6M
- 9.93%
- 1Y
- 38.84%
- 3Y*
- 34.12%
- 5Y*
- 17.71%
- 10Y*
- 24.71%
RXD vs. SSO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RXD ProShares UltraShort Health Care | -1.40% | -21.66% | 4.83% | 3.25% | 1.20% | -37.97% | -44.25% | -32.44% | -14.33% | -35.24% |
SSO ProShares Ultra S&P500 | 12.77% | 26.19% | 43.48% | 46.65% | -38.98% | 60.57% | 21.54% | 63.45% | -14.60% | 44.35% |
Correlation
The correlation between RXD and SSO is -0.30, 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 | -0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.45 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.58 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.61 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2007 | -0.63 |
Over the past year, the inverse relationship between RXD and SSO has weakened: their correlation has moved from -0.63 to -0.30, meaning they move in opposite directions less often than they have historically.
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Return for Risk
RXD vs. SSO — Risk / Return Rank
RXD
SSO
RXD vs. SSO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Health Care (RXD) 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.
| RXD | SSO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.43 | ||
| Sortino ratioReturn per unit of downside risk | -3.17 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 1.28 | -0.41 |
| Calmar ratioReturn relative to maximum drawdown | -0.75 | 2.15 | -2.90 |
| Martin ratioReturn relative to average drawdown | -1.12 | 9.00 | -10.12 |
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Drawdowns
RXD vs. SSO - Drawdown Comparison
The maximum RXD drawdown since its inception was -99.65%, which is greater than SSO's maximum drawdown of -84.67%. Use the drawdown chart below to compare losses from any high point for RXD and SSO.
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Drawdown Indicators
| RXD | SSO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.65% | -84.67% | -14.98% |
Max Drawdown (1Y)Largest decline over 1 year | -34.63% | -18.17% | -16.46% |
Max Drawdown (3Y)Largest decline over 3 years | -36.60% | -35.21% | -1.39% |
Max Drawdown (5Y)Largest decline over 5 years | -40.50% | -46.73% | +6.23% |
Max Drawdown (10Y)Largest decline over 10 years | -90.64% | -59.34% | -31.30% |
Current DrawdownCurrent decline from peak | -99.63% | -6.85% | -92.78% |
Average DrawdownAverage peak-to-trough decline | -81.91% | -19.52% | -62.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.10% | 4.33% | +18.77% |
Volatility
RXD vs. SSO - Volatility Comparison
ProShares UltraShort Health Care (RXD) has a higher volatility of 10.55% compared to ProShares Ultra S&P500 (SSO) at 9.54%. This indicates that RXD'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
| RXD | SSO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.55% | 9.54% | +1.01% |
Volatility (6M)Calculated over the trailing 6-month period | 21.92% | 19.55% | +2.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.33% | 24.77% | +5.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.91% | 33.84% | -3.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.01% | 35.91% | -2.90% |
RXD vs. SSO - Expense Ratio Comparison
RXD has a 0.95% expense ratio, which is higher than SSO's 0.87% expense ratio.
Dividends
RXD vs. SSO - Dividend Comparison
RXD's dividend yield for the trailing twelve months is around 3.01%, more than SSO's 0.69% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RXD ProShares UltraShort Health Care | 3.01% | 3.29% | 4.36% | 3.17% | 0.67% | 0.00% | 0.17% | 1.73% | 0.22% | 0.00% | 0.00% | 0.00% |
SSO ProShares Ultra S&P500 | 0.69% | 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
RXD and SSO have a correlation of -0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RXD has higher volatility (10.55%) compared to SSO (9.54%). In terms of maximum drawdown, RXD dropped -99.65% vs SSO's -84.67%.
On 10-year performance, SSO leads with 24.71% vs -20.50% for RXD. On fees, SSO is cheaper at 0.87% per year. On volatility, SSO has been the lower-risk option at 9.54%. 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 24.71% return vs -20.50%. 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 RXD.
RXD has the higher dividend yield at 3.01%, compared with 0.69% for SSO.
RXD tracks DJ Global United States (All) / Health Care -IND (-200%), while SSO tracks S&P 500. Their fees differ too: 0.95% for RXD and 0.87% for SSO.
SSO currently has the higher Sharpe Ratio (1.57 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.
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