SSO vs. LTL
Compare and contrast key facts about ProShares Ultra S&P500 (SSO) and ProShares Ultra Telecommunications (LTL).
SSO and LTL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SSO is a passively managed fund by ProShares that tracks the performance of the S&P 500. It was launched on Jun 19, 2006. LTL is a passively managed fund by ProShares that tracks the performance of the Dow Jones U.S. Select Telecommunications Index (200%). It was launched on Mar 25, 2008. Both SSO and LTL are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
SSO vs. LTL - Performance Comparison
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SSO vs. LTL - 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% |
LTL ProShares Ultra Telecommunications | -12.21% | 37.06% | 65.15% | 62.03% | -41.14% | 40.42% | -3.25% | 30.16% | -23.44% | -26.85% |
Returns By Period
In the year-to-date period, SSO achieves a -8.90% return, which is significantly higher than LTL's -12.21% return. Over the past 10 years, SSO has outperformed LTL with an annualized return of 21.24%, while LTL has yielded a comparatively lower 9.08% 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%
LTL
- 1D
- 0.67%
- 1M
- -11.20%
- YTD
- -12.21%
- 6M
- -11.73%
- 1Y
- 23.21%
- 3Y*
- 43.18%
- 5Y*
- 17.82%
- 10Y*
- 9.08%
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SSO vs. LTL - Expense Ratio Comparison
SSO has a 0.87% expense ratio, which is lower than LTL's 0.95% expense ratio.
Return for Risk
SSO vs. LTL — Risk / Return Rank
SSO
LTL
SSO vs. LTL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra S&P500 (SSO) and ProShares Ultra Telecommunications (LTL). 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 | LTL | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.76 | 0.63 | +0.12 |
Sortino ratioReturn per unit of downside risk | 1.27 | 1.13 | +0.13 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.15 | +0.04 |
Calmar ratioReturn relative to maximum drawdown | 1.22 | 1.04 | +0.18 |
Martin ratioReturn relative to average drawdown | 5.19 | 3.15 | +2.04 |
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 | LTL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.76 | 0.63 | +0.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.47 | 0.52 | -0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.59 | 0.25 | +0.35 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.38 | 0.15 | +0.22 |
Correlation
The correlation between SSO and LTL is 0.59, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
SSO vs. LTL - Dividend Comparison
SSO's dividend yield for the trailing twelve months is around 0.81%, less than LTL's 0.92% 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% |
LTL ProShares Ultra Telecommunications | 0.92% | 0.64% | 0.29% | 0.97% | 2.01% | 1.14% | 1.57% | 0.83% | 1.99% | 1.96% | 0.70% | 1.55% |
Drawdowns
SSO vs. LTL - Drawdown Comparison
The maximum SSO drawdown since its inception was -84.67%, which is greater than LTL's maximum drawdown of -80.20%. Use the drawdown chart below to compare losses from any high point for SSO and LTL.
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Drawdown Indicators
| SSO | LTL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.67% | -80.20% | -4.47% |
Max Drawdown (1Y)Largest decline over 1 year | -23.17% | -21.91% | -1.26% |
Max Drawdown (5Y)Largest decline over 5 years | -46.73% | -52.60% | +5.87% |
Max Drawdown (10Y)Largest decline over 10 years | -59.34% | -64.15% | +4.81% |
Current DrawdownCurrent decline from peak | -12.18% | -15.30% | +3.12% |
Average DrawdownAverage peak-to-trough decline | -19.72% | -28.85% | +9.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.44% | 7.25% | -1.81% |
Volatility
SSO vs. LTL - Volatility Comparison
ProShares Ultra S&P500 (SSO) and ProShares Ultra Telecommunications (LTL) have volatilities of 10.69% and 10.44%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SSO | LTL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.69% | 10.44% | +0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 18.99% | 19.72% | -0.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 36.46% | 36.84% | -0.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.66% | 34.53% | -0.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.86% | 37.05% | -1.19% |