SSO vs. BRK-B

Last updated Jun 9, 2026

SSO (ProShares Ultra S&P500) is Leveraged Equities fund tracking the S&P 500, while BRK-B (Berkshire Hathaway Inc.) is a stock. Over the past 10 years, SSO returned 23.71%/yr vs 13.14%/yr for BRK-B. A 0.63 correlation means they provide meaningful diversification when combined.

Performance

SSO vs. BRK-B - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra S&P500 (SSO) and Berkshire Hathaway Inc. (BRK-B). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SSO achieves a 14.49% return, which is significantly higher than BRK-B's -3.11% return. Over the past 10 years, SSO has outperformed BRK-B with an annualized return of 23.71%, while BRK-B has yielded a comparatively lower 13.14% annualized return.

SSO

• 1D: 0.47%
• 1M: -0.08%
• YTD: 14.49%
• 6M: 14.11%
• 1Y: 45.16%
• 3Y*: 35.32%
• 5Y*: 18.74%
• 10Y*: 23.71%

BRK-B

• 1D: -0.23%
• 1M: 2.32%
• YTD: -3.11%
• 6M: -2.06%
• 1Y: -1.32%
• 3Y*: 13.25%
• 5Y*: 11.03%
• 10Y*: 13.14%

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

SSO vs. BRK-B - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SSO ProShares Ultra S&P500	14.49%	26.19%	43.48%	46.65%	-38.98%	60.57%	21.54%	63.45%	-14.60%	44.35%
BRK-B Berkshire Hathaway Inc.	-3.11%	10.89%	27.09%	15.46%	3.31%	28.95%	2.37%	10.93%	3.01%	21.62%

Correlation

The correlation between SSO and BRK-B is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.11
Correlation (3Y) Calculated over the trailing 3-year period	0.34
Correlation (5Y) Calculated over the trailing 5-year period	0.52
Correlation (10Y) Calculated over the trailing 10-year period	0.61
Correlation (All Time) Calculated using the full available price history since Jun 21, 2006	0.63

Over the past year, the correlation between SSO and BRK-B has dropped to 0.11 - well below their long-term average of 0.63, suggesting their price drivers have been diverging.

Return for Risk

SSO vs. BRK-B — Risk / Return Rank

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

SSO

SSO Risk / Return Rank: 60
SSO Sharpe Ratio Rank: 63
SSO Sortino Ratio Rank: 56
SSO Omega Ratio Rank: 58
SSO Calmar Ratio Rank: 56
SSO Martin Ratio Rank: 65

BRK-B

BRK-B Risk / Return Rank: 35
BRK-B Sharpe Ratio Rank: 38
BRK-B Sortino Ratio Rank: 30
BRK-B Omega Ratio Rank: 30
BRK-B Calmar Ratio Rank: 38
BRK-B Martin Ratio Rank: 37

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.

SSO vs. BRK-B - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra S&P500 (SSO) and Berkshire Hathaway Inc. (BRK-B). 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.

	SSO	BRK-B	Difference
Sharpe ratio: Return per unit of total volatility	1.88	-0.09	+1.98
Sortino ratio: Return per unit of downside risk	2.42	-0.03	+2.45
Omega ratio: Gain probability vs. loss probability	1.33	1.00	+0.33
Calmar ratio: Return relative to maximum drawdown	2.50	-0.14	+2.64
Martin ratio: Return relative to average drawdown	10.89	-0.30	+11.19
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SSO vs. BRK-B - Sharpe Ratio Comparison

The current SSO Sharpe Ratio is 1.88, which is higher than the BRK-B Sharpe Ratio of -0.09. The chart below compares the historical Sharpe Ratios of SSO and BRK-B, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SSO	BRK-B	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.88	-0.09	+1.98
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.56	0.65	-0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.66	0.68	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.41	0.48	-0.07

Drawdowns

SSO vs. BRK-B - Drawdown Comparison

The maximum SSO drawdown since its inception was -84.67%, which is greater than BRK-B's maximum drawdown of -53.86%. Use the drawdown chart below to compare losses from any high point for SSO and BRK-B.

Drawdown Indicators

	SSO	BRK-B	Difference
Max Drawdown Largest peak-to-trough decline	-84.67%	-53.86%	-30.81%
Max Drawdown (1Y) Largest decline over 1 year	-18.17%	-9.42%	-8.75%
Max Drawdown (3Y) Largest decline over 3 years	-35.21%	-14.95%	-20.26%
Max Drawdown (5Y) Largest decline over 5 years	-46.73%	-26.58%	-20.15%
Max Drawdown (10Y) Largest decline over 10 years	-59.34%	-29.57%	-29.77%
Current Drawdown Current decline from peak	-5.43%	-9.78%	+4.35%
Average Drawdown Average peak-to-trough decline	-19.56%	-11.07%	-8.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.16%	4.49%	-0.33%

Volatility

SSO vs. BRK-B - Volatility Comparison

ProShares Ultra S&P500 (SSO) has a higher volatility of 7.49% compared to Berkshire Hathaway Inc. (BRK-B) at 3.98%. This indicates that SSO's price experiences larger fluctuations and is considered to be riskier than BRK-B based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SSO	BRK-B	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.49%	3.98%	+3.51%
Volatility (6M) Calculated over the trailing 6-month period	18.61%	10.87%	+7.74%
Volatility (1Y) Calculated over the trailing 1-year period	24.14%	14.38%	+9.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.73%	17.13%	+16.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.94%	19.44%	+16.50%

Dividends

SSO vs. BRK-B - Dividend Comparison

SSO's dividend yield for the trailing twelve months is around 0.64%, while BRK-B has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BRK-B Berkshire Hathaway Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SSO ProShares Ultra S&P500	0.64%	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

Can I hold both SSO and BRK-B in my portfolio?

SSO and BRK-B have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SSO or BRK-B?

SSO has higher volatility (7.49%) compared to BRK-B (3.98%). In terms of maximum drawdown, SSO dropped -84.67% vs BRK-B's -53.86%.

Which has better risk-adjusted returns?

SSO currently has the higher Sharpe Ratio (1.88 vs -0.09), 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.