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 -19.08%/yr vs 24.16%/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 4.25% return, which is significantly lower than SSO's 20.20% return. Over the past 10 years, RXD has underperformed SSO with an annualized return of -19.08%, while SSO has yielded a comparatively higher 24.16% annualized return.
RXD
- 1D
- -5.76%
- 1M
- -8.56%
- YTD
- 4.25%
- 6M
- 2.28%
- 1Y
- -22.97%
- 3Y*
- -6.72%
- 5Y*
- -7.99%
- 10Y*
- -19.08%
SSO
- 1D
- 0.70%
- 1M
- 8.84%
- YTD
- 20.20%
- 6M
- 19.43%
- 1Y
- 53.91%
- 3Y*
- 38.10%
- 5Y*
- 19.79%
- 10Y*
- 24.16%
RXD vs. SSO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RXD ProShares UltraShort Health Care | 4.25% | -21.66% | 4.83% | 3.25% | 1.20% | -37.97% | -44.25% | -32.44% | -14.33% | -35.24% |
SSO ProShares Ultra S&P500 | 20.20% | 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 -0.37, 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 | -0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.47 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.59 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.61 |
Correlation (All Time) Calculated using the full available price history since Feb 2, 2007 | -0.63 |
Over the past year, the inverse relationship between RXD and SSO has weakened: their correlation has moved from -0.63 to -0.37, 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.
| RXD | SSO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.06 | ||
| Sortino ratioReturn per unit of downside risk | -3.84 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 1.38 | -0.50 |
| Calmar ratioReturn relative to maximum drawdown | -0.67 | 2.98 | -3.65 |
| Martin ratioReturn relative to average drawdown | -1.04 | 13.10 | -14.14 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| RXD | SSO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.77 | 2.30 | -3.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.27 | 0.59 | -0.86 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.58 | 0.68 | -1.26 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.65 | 0.42 | -1.07 |
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 | -40.53% | -46.73% | +6.20% |
Max Drawdown (10Y)Largest decline over 10 years | -90.64% | -59.34% | -31.30% |
Current DrawdownCurrent decline from peak | -99.61% | -0.71% | -98.90% |
Average DrawdownAverage peak-to-trough decline | -81.88% | -19.57% | -62.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.14% | 4.13% | +18.01% |
Volatility
RXD vs. SSO - Volatility Comparison
ProShares UltraShort Health Care (RXD) has a higher volatility of 10.19% compared to ProShares Ultra S&P500 (SSO) at 5.56%. 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 | 10.19% | 5.56% | +4.63% |
Volatility (6M)Calculated over the trailing 6-month period | 21.87% | 17.78% | +4.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.03% | 23.59% | +6.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.85% | 33.64% | -3.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.00% | 35.89% | -2.89% |
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 2.69%, more than SSO's 0.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RXD ProShares UltraShort Health Care | 2.69% | 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 | 0.61% | 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 -0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RXD has higher volatility (10.19%) compared to SSO (5.56%). In terms of maximum drawdown, RXD dropped -99.65% vs SSO's -84.67%.
On 10-year performance, SSO leads with 24.16% vs -19.08% for RXD. On fees, SSO is cheaper at 0.87% per year. On volatility, SSO has been the lower-risk option at 5.56%. 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 24.16% return vs -19.08%. 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 2.69%, compared with 0.61% 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 (2.30 vs -0.77), 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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