SSG vs. HOOG

Last updated Jun 23, 2026

SSG (Proshares Ultrashort Semiconductors) and HOOG (Leverage Shares 2X Long HOOD Daily ETF) are both Leveraged Equities funds. SSG is passively managed, while HOOG is actively managed. Over the past year, SSG returned -81.41% vs -5.85% for HOOG. At a correlation of -0.55, they often move in opposite directions. SSG charges 0.95%/yr vs 0.75%/yr for HOOG.

Performance

SSG vs. HOOG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Proshares Ultrashort Semiconductors (SSG) and Leverage Shares 2X Long HOOD Daily ETF (HOOG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SSG achieves a -63.37% return, which is significantly lower than HOOG's -37.65% return.

SSG

• 1D: -0.80%
• 1M: -21.37%
• YTD: -63.37%
• 6M: -63.97%
• 1Y: -81.41%
• 3Y*: -75.00%
• 5Y*: -67.22%
• 10Y*: -62.52%

HOOG

• 1D: -4.37%
• 1M: 92.50%
• YTD: -37.65%
• 6M: -47.26%
• 1Y: -5.85%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SSG vs. HOOG - Yearly Performance Comparison

	2026 (YTD)	2025
SSG Proshares Ultrashort Semiconductors	-63.37%	-71.77%
HOOG Leverage Shares 2X Long HOOD Daily ETF	-37.65%	320.19%

Correlation

The correlation between SSG and HOOG is -0.52, 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	-0.52
Correlation (All Time) Calculated using the full available price history since Mar 21, 2025	-0.55

The correlation between SSG and HOOG has been stable across timeframes, ranging from -0.55 to -0.52 - a consistent structural relationship.

Return for Risk

SSG vs. HOOG — Risk / Return Rank

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

SSG

SSG Risk / Return Rank: 0
SSG Sharpe Ratio Rank: 0
SSG Sortino Ratio Rank: 0
SSG Omega Ratio Rank: 0
SSG Calmar Ratio Rank: 0
SSG Martin Ratio Rank: 1

HOOG

HOOG Risk / Return Rank: 12
HOOG Sharpe Ratio Rank: 8
HOOG Sortino Ratio Rank: 18
HOOG Omega Ratio Rank: 17
HOOG Calmar Ratio Rank: 8
HOOG Martin Ratio Rank: 8

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.

SSG vs. HOOG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Proshares Ultrashort Semiconductors (SSG) and Leverage Shares 2X Long HOOD Daily ETF (HOOG). 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.

	SSG	HOOG	Difference
Sharpe ratio: Return per unit of total volatility	-1.21	-0.04	-1.17
Sortino ratio: Return per unit of downside risk	-2.86	0.98	-3.84
Omega ratio: Gain probability vs. loss probability	0.69	1.12	-0.42
Calmar ratio: Return relative to maximum drawdown	-1.00	-0.07	-0.94
Martin ratio: Return relative to average drawdown	-1.60	-0.11	-1.49

SSG vs. HOOG - Sharpe Ratio Comparison

The current SSG Sharpe Ratio is -1.21, which is lower than the HOOG Sharpe Ratio of -0.04. The chart below compares the historical Sharpe Ratios of SSG and HOOG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SSG vs. HOOG - Drawdown Comparison

The maximum SSG drawdown since its inception was -100.00%, which is greater than HOOG's maximum drawdown of -86.94%. Use the drawdown chart below to compare losses from any high point for SSG and HOOG.

Drawdown Indicators

	SSG	HOOG	Difference
Max Drawdown Largest peak-to-trough decline	-100.00%	-86.94%	-13.06%
Max Drawdown (1Y) Largest decline over 1 year	-81.20%	-86.94%	+5.74%
Max Drawdown (3Y) Largest decline over 3 years	-98.56%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-99.66%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-99.99%	—	—
Current Drawdown Current decline from peak	-100.00%	-70.92%	-29.08%
Average Drawdown Average peak-to-trough decline	-88.60%	-38.94%	-49.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	51.37%	55.79%	-4.42%

Volatility

SSG vs. HOOG - Volatility Comparison

The current volatility for Proshares Ultrashort Semiconductors (SSG) is 30.98%, while Leverage Shares 2X Long HOOD Daily ETF (HOOG) has a volatility of 46.00%. This indicates that SSG experiences smaller price fluctuations and is considered to be less risky than HOOG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SSG	HOOG	Difference
Volatility (1M) Calculated over the trailing 1-month period	30.98%	46.00%	-15.02%
Volatility (6M) Calculated over the trailing 6-month period	53.34%	101.86%	-48.52%
Volatility (1Y) Calculated over the trailing 1-year period	67.65%	139.56%	-71.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	78.35%	144.89%	-66.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	69.58%	144.89%	-75.31%

SSG vs. HOOG - Expense Ratio Comparison

SSG has a 0.95% expense ratio, which is higher than HOOG's 0.75% expense ratio.

Dividends

SSG vs. HOOG - Dividend Comparison

SSG's dividend yield for the trailing twelve months is around 14.25%, less than HOOG's 19.73% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
HOOG Leverage Shares 2X Long HOOD Daily ETF	19.73%	12.30%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SSG Proshares Ultrashort Semiconductors	14.25%	9.19%	7.67%	6.73%	0.75%	0.00%	0.34%	1.81%	0.62%

Frequently Asked Questions

Can I hold both SSG and HOOG in my portfolio?

SSG and HOOG have a correlation of -0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SSG or HOOG?

HOOG has higher volatility (46.00%) compared to SSG (30.98%). In terms of maximum drawdown, SSG dropped -100.00% vs HOOG's -86.94%.

Which ETF is better, SSG or HOOG?

On 1-year performance, HOOG leads with -5.85% vs -81.41% for SSG. On fees, HOOG is cheaper at 0.75% per year. On volatility, SSG has been the lower-risk option at 30.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SSG or HOOG?

Over the 1-year period, HOOG has performed better with a -5.85% return vs -81.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SSG or HOOG?

HOOG is cheaper with a 0.75% expense ratio, compared with 0.95% for SSG.

Which ETF pays a higher dividend yield, SSG or HOOG?

HOOG has the higher dividend yield at 19.73%, compared with 14.25% for SSG.

What is the main difference between SSG and HOOG?

They also come from different issuers: ProShares and Leverage Shares. Their fees differ too: 0.95% for SSG and 0.75% for HOOG.

Which has better risk-adjusted returns?

HOOG currently has the higher Sharpe Ratio (-0.04 vs -1.21), 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.