SSO vs. LQQ.PA

Last updated Jun 16, 2026

SSO (ProShares Ultra S&P500) and LQQ.PA (Lyxor UCITS NASDAQ-100 Daily Leverage) are both exchange-traded funds - SSO is a Leveraged Equities fund tracking the S&P 500, while LQQ.PA is a Nasdaq-100 fund tracking the Nasdaq 100® Leverage (2x) index. Both are passively managed. Over the past 3 years, SSO returned 34.86%/yr vs 45.59%/yr for LQQ.PA. A 0.59 correlation means they provide meaningful diversification when combined. SSO charges 0.87%/yr vs 0.60%/yr for LQQ.PA.

Performance

SSO vs. LQQ.PA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra S&P500 (SSO) and Lyxor UCITS NASDAQ-100 Daily Leverage (LQQ.PA). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

SSO is traded in USD, while LQQ.PA is traded in EUR. To make them comparable, the LQQ.PA values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, SSO achieves a 19.08% return, which is significantly lower than LQQ.PA's 38.52% return.

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%

LQQ.PA

• 1D: 5.65%
• 1M: 7.74%
• YTD: 38.52%
• 6M: 40.94%
• 1Y: 81.81%
• 3Y*: 45.59%
• 5Y*: —
• 10Y*: —

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

SSO vs. LQQ.PA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SSO ProShares Ultra S&P500	19.08%	26.19%	43.48%	42.21%
LQQ.PA Lyxor UCITS NASDAQ-100 Daily Leverage	38.52%	29.49%	47.29%	82.44%

Correlation

The correlation between SSO and LQQ.PA is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (All Time) Calculated using the full available price history since Mar 10, 2023	0.59

The correlation between SSO and LQQ.PA has been stable across timeframes, ranging from 0.59 to 0.68 - a consistent structural relationship.

Return for Risk

SSO vs. LQQ.PA — 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

LQQ.PA

LQQ.PA Risk / Return Rank: 76
LQQ.PA Sharpe Ratio Rank: 86
LQQ.PA Sortino Ratio Rank: 76
LQQ.PA Omega Ratio Rank: 75
LQQ.PA Calmar Ratio Rank: 78
LQQ.PA Martin Ratio Rank: 67

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. LQQ.PA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra S&P500 (SSO) and Lyxor UCITS NASDAQ-100 Daily Leverage (LQQ.PA). 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	LQQ.PA	Difference
Sharpe ratio: Return per unit of total volatility	2.13	2.48	-0.35
Sortino ratio: Return per unit of downside risk	2.69	3.10	-0.41
Omega ratio: Gain probability vs. loss probability	1.36	1.39	-0.02
Calmar ratio: Return relative to maximum drawdown	2.89	3.53	-0.64
Martin ratio: Return relative to average drawdown	12.36	11.73	+0.63

SSO vs. LQQ.PA - Sharpe Ratio Comparison

The current SSO Sharpe Ratio is 2.13, which is comparable to the LQQ.PA Sharpe Ratio of 2.48. The chart below compares the historical Sharpe Ratios of SSO and LQQ.PA, 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. LQQ.PA - Drawdown Comparison

The maximum SSO drawdown since its inception was -84.67%, which is greater than LQQ.PA's maximum drawdown of -42.34%. Use the drawdown chart below to compare losses from any high point for SSO and LQQ.PA.

Drawdown Indicators

	SSO	LQQ.PA	Difference
Max Drawdown Largest peak-to-trough decline	-84.67%	-42.34%	-42.33%
Max Drawdown (1Y) Largest decline over 1 year	-18.17%	-22.81%	+4.64%
Max Drawdown (3Y) Largest decline over 3 years	-35.21%	-42.34%	+7.13%
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	-1.64%	-1.42%	-0.22%
Average Drawdown Average peak-to-trough decline	-19.54%	-6.61%	-12.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.24%	6.90%	-2.66%

Volatility

SSO vs. LQQ.PA - Volatility Comparison

The current volatility for ProShares Ultra S&P500 (SSO) is 9.28%, while Lyxor UCITS NASDAQ-100 Daily Leverage (LQQ.PA) has a volatility of 12.75%. This indicates that SSO experiences smaller price fluctuations and is considered to be less risky than LQQ.PA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SSO	LQQ.PA	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.28%	12.75%	-3.47%
Volatility (6M) Calculated over the trailing 6-month period	19.45%	25.30%	-5.85%
Volatility (1Y) Calculated over the trailing 1-year period	24.68%	32.54%	-7.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.82%	35.74%	-1.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.98%	35.74%	+0.24%

SSO vs. LQQ.PA - Expense Ratio Comparison

SSO has a 0.87% expense ratio, which is higher than LQQ.PA's 0.60% expense ratio.

Dividends

SSO vs. LQQ.PA - Dividend Comparison

SSO's dividend yield for the trailing twelve months is around 0.62%, while LQQ.PA has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LQQ.PA Lyxor UCITS NASDAQ-100 Daily Leverage	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	0.62%	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 LQQ.PA in my portfolio?

SSO and LQQ.PA have a correlation of 0.68, 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 LQQ.PA?

On fees, LQQ.PA is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SSO or LQQ.PA?

LQQ.PA is cheaper with a 0.60% expense ratio, compared with 0.87% for SSO.

What is the main difference between SSO and LQQ.PA?

SSO is categorized as Leveraged Equities, while LQQ.PA is Nasdaq-100. SSO tracks S&P 500, while LQQ.PA tracks Nasdaq 100® Leverage (2x) index. They also come from different issuers: ProShares and Amundi. Their fees differ too: 0.87% for SSO and 0.60% for LQQ.PA.