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SSO vs. SPXL
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Correlation

The correlation between SSO and SPXL is 1.00, 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.


-0.50.00.51.0
Correlation: 1.0

Performance

SSO vs. SPXL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra S&P 500 (SSO) and Direxion Daily S&P 500 Bull 3X Shares (SPXL). The values are adjusted to include any dividend payments, if applicable.

2,000.00%3,000.00%4,000.00%5,000.00%6,000.00%NovemberDecember2025FebruaryMarchApril
2,115.97%
3,701.02%
SSO
SPXL

Key characteristics

Sharpe Ratio

SSO:

0.25

SPXL:

0.11

Sortino Ratio

SSO:

0.62

SPXL:

0.55

Omega Ratio

SSO:

1.09

SPXL:

1.08

Calmar Ratio

SSO:

0.28

SPXL:

0.12

Martin Ratio

SSO:

1.05

SPXL:

0.44

Ulcer Index

SSO:

9.23%

SPXL:

13.62%

Daily Std Dev

SSO:

38.52%

SPXL:

57.22%

Max Drawdown

SSO:

-84.67%

SPXL:

-76.86%

Current Drawdown

SSO:

-21.69%

SPXL:

-33.27%

Returns By Period

In the year-to-date period, SSO achieves a -15.17% return, which is significantly higher than SPXL's -25.30% return. Over the past 10 years, SSO has underperformed SPXL with an annualized return of 17.18%, while SPXL has yielded a comparatively higher 19.27% annualized return.


SSO

YTD

-15.17%

1M

-8.65%

6M

-13.83%

1Y

10.79%

5Y*

24.81%

10Y*

17.18%

SPXL

YTD

-25.30%

1M

-15.21%

6M

-24.19%

1Y

7.52%

5Y*

31.36%

10Y*

19.27%

*Annualized

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SSO vs. SPXL - Expense Ratio Comparison

SSO has a 0.90% expense ratio, which is lower than SPXL's 1.02% expense ratio.


Expense ratio chart for SPXL: current value is 1.02%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
SPXL: 1.02%
Expense ratio chart for SSO: current value is 0.90%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
SSO: 0.90%

Risk-Adjusted Performance

SSO vs. SPXL — Risk-Adjusted Performance Rank

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

SSO
The Risk-Adjusted Performance Rank of SSO is 4343
Overall Rank
The Sharpe Ratio Rank of SSO is 3737
Sharpe Ratio Rank
The Sortino Ratio Rank of SSO is 4545
Sortino Ratio Rank
The Omega Ratio Rank of SSO is 4747
Omega Ratio Rank
The Calmar Ratio Rank of SSO is 4343
Calmar Ratio Rank
The Martin Ratio Rank of SSO is 4141
Martin Ratio Rank

SPXL
The Risk-Adjusted Performance Rank of SPXL is 3333
Overall Rank
The Sharpe Ratio Rank of SPXL is 2525
Sharpe Ratio Rank
The Sortino Ratio Rank of SPXL is 4141
Sortino Ratio Rank
The Omega Ratio Rank of SPXL is 4343
Omega Ratio Rank
The Calmar Ratio Rank of SPXL is 2929
Calmar Ratio Rank
The Martin Ratio Rank of SPXL is 2828
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

SSO vs. SPXL - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra S&P 500 (SSO) and Direxion Daily S&P 500 Bull 3X Shares (SPXL). 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.


The chart of Sharpe ratio for SSO, currently valued at 0.25, compared to the broader market-1.000.001.002.003.004.00
SSO: 0.25
SPXL: 0.11
The chart of Sortino ratio for SSO, currently valued at 0.62, compared to the broader market-2.000.002.004.006.008.00
SSO: 0.62
SPXL: 0.55
The chart of Omega ratio for SSO, currently valued at 1.09, compared to the broader market0.501.001.502.00
SSO: 1.09
SPXL: 1.08
The chart of Calmar ratio for SSO, currently valued at 0.28, compared to the broader market0.002.004.006.008.0010.0012.00
SSO: 0.28
SPXL: 0.12
The chart of Martin ratio for SSO, currently valued at 1.05, compared to the broader market0.0020.0040.0060.00
SSO: 1.05
SPXL: 0.44

The current SSO Sharpe Ratio is 0.25, which is higher than the SPXL Sharpe Ratio of 0.11. The chart below compares the historical Sharpe Ratios of SSO and SPXL, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio-1.000.001.002.003.004.00NovemberDecember2025FebruaryMarchApril
0.25
0.11
SSO
SPXL

Dividends

SSO vs. SPXL - Dividend Comparison

SSO's dividend yield for the trailing twelve months is around 0.99%, less than SPXL's 1.07% yield.


TTM20242023202220212020201920182017201620152014
SSO
ProShares Ultra S&P 500
0.99%0.85%0.18%0.50%0.18%0.20%0.50%0.75%0.39%0.51%0.63%0.32%
SPXL
Direxion Daily S&P 500 Bull 3X Shares
1.07%0.74%0.98%0.33%0.11%0.22%0.84%1.02%3.88%0.00%0.00%0.00%

Drawdowns

SSO vs. SPXL - Drawdown Comparison

The maximum SSO drawdown since its inception was -84.67%, which is greater than SPXL's maximum drawdown of -76.86%. Use the drawdown chart below to compare losses from any high point for SSO and SPXL. For additional features, visit the drawdowns tool.


-50.00%-40.00%-30.00%-20.00%-10.00%0.00%NovemberDecember2025FebruaryMarchApril
-21.69%
-33.27%
SSO
SPXL

Volatility

SSO vs. SPXL - Volatility Comparison

The current volatility for ProShares Ultra S&P 500 (SSO) is 28.07%, while Direxion Daily S&P 500 Bull 3X Shares (SPXL) has a volatility of 41.59%. This indicates that SSO experiences smaller price fluctuations and is considered to be less risky than SPXL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


0.00%10.00%20.00%30.00%40.00%NovemberDecember2025FebruaryMarchApril
28.07%
41.59%
SSO
SPXL