SSO vs. FTEC

Last updated Jun 16, 2026

SSO (ProShares Ultra S&P500) and FTEC (Fidelity MSCI Information Technology Index ETF) are both exchange-traded funds - SSO is a Leveraged Equities fund tracking the S&P 500, while FTEC is a Technology Equities fund tracking the MSCI USA IMI Information Technology 25/50 Index. Both are passively managed. Over the past 10 years, SSO returned 24.51%/yr vs 25.51%/yr for FTEC. Their correlation of 0.89 suggests significant overlap in exposure. SSO charges 0.87%/yr vs 0.08%/yr for FTEC.

Performance

SSO vs. FTEC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra S&P500 (SSO) and Fidelity MSCI Information Technology Index ETF (FTEC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SSO achieves a 19.08% return, which is significantly lower than FTEC's 28.48% return. Both investments have delivered pretty close results over the past 10 years, with SSO having a 24.51% annualized return and FTEC not far ahead at 25.51%.

SSO

• 1D: 3.47%
• 1M: 3.60%
• YTD: 19.08%
• 6M: 19.83%
• 1Y: 52.23%
• 3Y*: 34.86%
• 5Y*: 19.63%
• 10Y*: 24.51%

FTEC

• 1D: 3.38%
• 1M: 6.58%
• YTD: 28.48%
• 6M: 30.07%
• 1Y: 56.15%
• 3Y*: 31.16%
• 5Y*: 21.43%
• 10Y*: 25.51%

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

SSO vs. FTEC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SSO ProShares Ultra S&P500	19.08%	26.19%	43.48%	46.65%	-38.98%	60.57%	21.54%	63.45%	-14.60%	44.35%
FTEC Fidelity MSCI Information Technology Index ETF	28.48%	22.11%	29.40%	53.30%	-29.59%	30.49%	45.83%	48.93%	-0.39%	36.83%

Correlation

The correlation between SSO and FTEC is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (10Y) Calculated over the trailing 10-year period	0.89
Correlation (All Time) Calculated using the full available price history since Oct 24, 2013	0.89

The correlation between SSO and FTEC has been stable across timeframes, ranging from 0.86 to 0.91 - a consistent structural relationship.

SSO vs. FTEC - Sectors Allocation Comparison

Sectors	SSO	FTEC
Technology	25.7%	98.3%
Financial Services	24.1%	0.5%
Communication Services	7.0%	0.0%
Consumer Cyclical	6.4%	0.0%
Healthcare	5.9%	-
Industrials	5.3%	0.6%
Consumer Defensive	3.2%	-
Energy	2.3%	0.4%
Utilities	1.7%	-
Real Estate	1.3%	-
Basic Materials	1.2%	0.0%

Return for Risk

SSO vs. FTEC — Risk / Return Rank

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

SSO

SSO Risk / Return Rank: 69
SSO Sharpe Ratio Rank: 74
SSO Sortino Ratio Rank: 66
SSO Omega Ratio Rank: 68
SSO Calmar Ratio Rank: 64
SSO Martin Ratio Rank: 73

FTEC

FTEC Risk / Return Rank: 77
FTEC Sharpe Ratio Rank: 87
FTEC Sortino Ratio Rank: 79
FTEC Omega Ratio Rank: 80
FTEC Calmar Ratio Rank: 75
FTEC Martin Ratio Rank: 65

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. FTEC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra S&P500 (SSO) and Fidelity MSCI Information Technology Index ETF (FTEC). 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	FTEC	Difference
Sharpe ratio: Return per unit of total volatility	2.13	2.54	-0.41
Sortino ratio: Return per unit of downside risk	2.69	3.11	-0.41
Omega ratio: Gain probability vs. loss probability	1.36	1.42	-0.06
Calmar ratio: Return relative to maximum drawdown	2.89	3.47	-0.58
Martin ratio: Return relative to average drawdown	12.36	10.80	+1.56

SSO vs. FTEC - Sharpe Ratio Comparison

The current SSO Sharpe Ratio is 2.13, which is comparable to the FTEC Sharpe Ratio of 2.54. The chart below compares the historical Sharpe Ratios of SSO and FTEC, 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

SSO vs. FTEC - Drawdown Comparison

The maximum SSO drawdown since its inception was -84.67%, which is greater than FTEC's maximum drawdown of -34.95%. Use the drawdown chart below to compare losses from any high point for SSO and FTEC.

Drawdown Indicators

	SSO	FTEC	Difference
Max Drawdown Largest peak-to-trough decline	-84.67%	-34.95%	-49.72%
Max Drawdown (1Y) Largest decline over 1 year	-18.17%	-16.26%	-1.91%
Max Drawdown (3Y) Largest decline over 3 years	-35.21%	-27.30%	-7.91%
Max Drawdown (5Y) Largest decline over 5 years	-46.73%	-34.95%	-11.78%
Max Drawdown (10Y) Largest decline over 10 years	-59.34%	-34.95%	-24.39%
Current Drawdown Current decline from peak	-1.64%	-4.04%	+2.40%
Average Drawdown Average peak-to-trough decline	-19.54%	-5.57%	-13.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.24%	5.21%	-0.97%

Volatility

SSO vs. FTEC - Volatility Comparison

The current volatility for ProShares Ultra S&P500 (SSO) is 9.28%, while Fidelity MSCI Information Technology Index ETF (FTEC) has a volatility of 10.43%. This indicates that SSO experiences smaller price fluctuations and is considered to be less risky than FTEC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SSO	FTEC	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.28%	10.43%	-1.15%
Volatility (6M) Calculated over the trailing 6-month period	19.45%	18.33%	+1.12%
Volatility (1Y) Calculated over the trailing 1-year period	24.68%	22.26%	+2.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.82%	25.49%	+8.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.98%	24.84%	+11.14%

SSO vs. FTEC - Expense Ratio Comparison

SSO has a 0.87% expense ratio, which is higher than FTEC's 0.08% expense ratio.

Dividends

SSO vs. FTEC - Dividend Comparison

SSO's dividend yield for the trailing twelve months is around 0.62%, more than FTEC's 0.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FTEC Fidelity MSCI Information Technology Index ETF	0.33%	0.43%	0.49%	0.77%	0.93%	0.63%	0.83%	1.03%	1.20%	0.96%	1.25%	1.27%
SSO ProShares Ultra S&P500	0.62%	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 FTEC in my portfolio?

SSO and FTEC have a correlation of 0.86, 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 FTEC?

FTEC has higher volatility (10.43%) compared to SSO (9.28%). In terms of maximum drawdown, SSO dropped -84.67% vs FTEC's -34.95%.

Which ETF is better, SSO or FTEC?

On 10-year performance, FTEC leads with 25.51% vs 24.51% for SSO. On fees, FTEC is cheaper at 0.08% per year. On volatility, SSO has been the lower-risk option at 9.28%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SSO or FTEC?

Over the 10-year period, FTEC has performed better with a 25.51% return vs 24.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SSO or FTEC?

FTEC is cheaper with a 0.08% expense ratio, compared with 0.87% for SSO.

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

SSO has the higher dividend yield at 0.62%, compared with 0.33% for FTEC.

What is the main difference between SSO and FTEC?

SSO is categorized as Leveraged Equities, while FTEC is Technology Equities. SSO tracks S&P 500, while FTEC tracks MSCI USA IMI Information Technology 25/50 Index. They also come from different issuers: ProShares and Fidelity. Their fees differ too: 0.87% for SSO and 0.08% for FTEC.

Which has better risk-adjusted returns?

FTEC currently has the higher Sharpe Ratio (2.54 vs 2.13), 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.