SSO vs. CRMU

Last updated Jun 24, 2026

SSO (ProShares Ultra S&P500) and CRMU (Leverage Shares 2X Long CRML Daily ETF) are both Leveraged Equities funds - SSO tracks the S&P 500 while CRMU tracks the Critical Metals Corp. (CRML). Both are passively managed. A 0.66 correlation means they provide meaningful diversification when combined. SSO charges 0.87%/yr vs 0.75%/yr for CRMU.

Performance

SSO vs. CRMU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra S&P500 (SSO) and Leverage Shares 2X Long CRML Daily ETF (CRMU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SSO

• 1D: -2.86%
• 1M: -3.30%
• YTD: 12.95%
• 6M: 10.86%
• 1Y: 42.28%
• 3Y*: 33.83%
• 5Y*: 17.91%
• 10Y*: 24.26%

CRMU

• 1D: -13.83%
• 1M: -28.54%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SSO vs. CRMU - Yearly Performance Comparison

	2026 (YTD)
SSO ProShares Ultra S&P500	9.90%
CRMU Leverage Shares 2X Long CRML Daily ETF	-64.46%

Correlation

The correlation between SSO and CRMU is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 10, 2026	0.66

Return for Risk

SSO vs. CRMU — Risk / Return Rank

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

SSO

SSO Risk / Return Rank: 50
SSO Sharpe Ratio Rank: 51
SSO Sortino Ratio Rank: 46
SSO Omega Ratio Rank: 48
SSO Calmar Ratio Rank: 49
SSO Martin Ratio Rank: 58

CRMU

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. CRMU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra S&P500 (SSO) and Leverage Shares 2X Long CRML Daily ETF (CRMU). 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.

	SSO	CRMU	Difference
Sharpe ratio: Return per unit of total volatility	1.71	—	—
Sortino ratio: Return per unit of downside risk	2.24	—	—
Omega ratio: Gain probability vs. loss probability	1.30	—	—
Calmar ratio: Return relative to maximum drawdown	2.34	—	—
Martin ratio: Return relative to average drawdown	9.90	—	—

Drawdowns

SSO vs. CRMU - Drawdown Comparison

The maximum SSO drawdown since its inception was -84.67%, which is greater than CRMU's maximum drawdown of -73.81%. Use the drawdown chart below to compare losses from any high point for SSO and CRMU.

Drawdown Indicators

	SSO	CRMU	Difference
Max Drawdown Largest peak-to-trough decline	-84.67%	-73.81%	-10.86%
Max Drawdown (1Y) Largest decline over 1 year	-18.17%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-35.21%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-46.73%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-59.34%	—	—
Current Drawdown Current decline from peak	-6.70%	-64.46%	+57.76%
Average Drawdown Average peak-to-trough decline	-19.53%	-46.63%	+27.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.28%	—	—

Volatility

Volatility by Period

	SSO	CRMU	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.70%	—	—
Volatility (6M) Calculated over the trailing 6-month period	19.65%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	24.92%	246.03%	-221.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.85%	246.03%	-212.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.93%	246.03%	-210.10%

SSO vs. CRMU - Expense Ratio Comparison

SSO has a 0.87% expense ratio, which is higher than CRMU's 0.75% expense ratio.

Dividends

SSO vs. CRMU - Dividend Comparison

SSO's dividend yield for the trailing twelve months is around 0.65%, while CRMU has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CRMU Leverage Shares 2X Long CRML Daily ETF	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	0.65%	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 CRMU in my portfolio?

SSO and CRMU have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SSO or CRMU?

On fees, CRMU is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SSO or CRMU?

CRMU is cheaper with a 0.75% expense ratio, compared with 0.87% for SSO.

Which ETF pays a higher dividend yield, SSO or CRMU?

SSO has the higher dividend yield at 0.65%, compared with 0.00% for CRMU.

What is the main difference between SSO and CRMU?

SSO tracks S&P 500, while CRMU tracks Critical Metals Corp. (CRML). They also come from different issuers: ProShares and Leverage Shares. Their fees differ too: 0.87% for SSO and 0.75% for CRMU.