SSO vs. FSLEX
Compare and contrast key facts about ProShares Ultra S&P500 (SSO) and Fidelity Environment and Alternative Energy Fund (FSLEX).
SSO is a passively managed fund by ProShares that tracks the performance of the S&P 500. It was launched on Jun 19, 2006. FSLEX is managed by Fidelity. It was launched on Jun 29, 1989.
Performance
SSO vs. FSLEX - Performance Comparison
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SSO vs. FSLEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SSO ProShares Ultra S&P500 | -8.90% | 26.19% | 43.48% | 46.65% | -38.98% | 60.57% | 21.54% | 63.45% | -14.60% | 44.35% |
FSLEX Fidelity Environment and Alternative Energy Fund | -0.49% | 20.38% | 20.01% | 26.29% | -26.05% | 30.30% | 21.56% | 26.86% | -13.49% | 24.94% |
Returns By Period
In the year-to-date period, SSO achieves a -8.90% return, which is significantly lower than FSLEX's -0.49% return. Over the past 10 years, SSO has outperformed FSLEX with an annualized return of 21.24%, while FSLEX has yielded a comparatively lower 12.98% annualized return.
SSO
- 1D
- 1.48%
- 1M
- -9.07%
- YTD
- -8.90%
- 6M
- -6.36%
- 1Y
- 27.41%
- 3Y*
- 28.90%
- 5Y*
- 15.68%
- 10Y*
- 21.24%
FSLEX
- 1D
- 3.43%
- 1M
- -7.13%
- YTD
- -0.49%
- 6M
- -0.80%
- 1Y
- 29.66%
- 3Y*
- 18.32%
- 5Y*
- 9.84%
- 10Y*
- 12.98%
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SSO vs. FSLEX - Expense Ratio Comparison
SSO has a 0.87% expense ratio, which is higher than FSLEX's 0.79% expense ratio.
Return for Risk
SSO vs. FSLEX — Risk / Return Rank
SSO
FSLEX
SSO vs. FSLEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra S&P500 (SSO) and Fidelity Environment and Alternative Energy Fund (FSLEX). 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 | FSLEX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.76 | 1.40 | -0.64 |
Sortino ratioReturn per unit of downside risk | 1.27 | 2.05 | -0.78 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.29 | -0.09 |
Calmar ratioReturn relative to maximum drawdown | 1.22 | 2.27 | -1.05 |
Martin ratioReturn relative to average drawdown | 5.19 | 9.59 | -4.39 |
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
| SSO | FSLEX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.76 | 1.40 | -0.64 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.47 | 0.48 | -0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.59 | 0.61 | -0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.38 | 0.33 | +0.05 |
Correlation
The correlation between SSO and FSLEX is 0.88, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
SSO vs. FSLEX - Dividend Comparison
SSO's dividend yield for the trailing twelve months is around 0.81%, more than FSLEX's 0.37% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SSO ProShares Ultra S&P500 | 0.81% | 0.68% | 0.85% | 0.18% | 0.50% | 0.18% | 0.20% | 0.50% | 0.75% | 0.39% | 0.51% | 0.63% |
FSLEX Fidelity Environment and Alternative Energy Fund | 0.37% | 0.37% | 0.41% | 0.39% | 0.69% | 7.74% | 6.41% | 2.17% | 6.39% | 6.19% | 1.29% | 3.01% |
Drawdowns
SSO vs. FSLEX - Drawdown Comparison
The maximum SSO drawdown since its inception was -84.67%, which is greater than FSLEX's maximum drawdown of -50.21%. Use the drawdown chart below to compare losses from any high point for SSO and FSLEX.
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Drawdown Indicators
| SSO | FSLEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.67% | -50.21% | -34.46% |
Max Drawdown (1Y)Largest decline over 1 year | -23.17% | -13.76% | -9.41% |
Max Drawdown (5Y)Largest decline over 5 years | -46.73% | -32.67% | -14.06% |
Max Drawdown (10Y)Largest decline over 10 years | -59.34% | -39.77% | -19.57% |
Current DrawdownCurrent decline from peak | -12.18% | -8.38% | -3.80% |
Average DrawdownAverage peak-to-trough decline | -19.72% | -13.99% | -5.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.44% | 3.26% | +2.18% |
Volatility
SSO vs. FSLEX - Volatility Comparison
ProShares Ultra S&P500 (SSO) has a higher volatility of 10.69% compared to Fidelity Environment and Alternative Energy Fund (FSLEX) at 7.33%. This indicates that SSO's price experiences larger fluctuations and is considered to be riskier than FSLEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SSO | FSLEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.69% | 7.33% | +3.36% |
Volatility (6M)Calculated over the trailing 6-month period | 18.99% | 12.72% | +6.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 36.46% | 22.37% | +14.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.66% | 20.62% | +13.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.86% | 21.42% | +14.44% |