SSO vs. SPY
Compare and contrast key facts about ProShares Ultra S&P 500 (SSO) and SPDR S&P 500 ETF (SPY).
SSO and SPY 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 Index (200%). It was launched on Jun 21, 2006. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993. Both SSO and SPY are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SSO or SPY.
Performance
SSO vs. SPY - Performance Comparison
Returns By Period
In the year-to-date period, SSO achieves a 46.05% return, which is significantly higher than SPY's 25.41% return. Over the past 10 years, SSO has outperformed SPY with an annualized return of 19.97%, while SPY has yielded a comparatively lower 13.07% annualized return.
SSO
46.05%
1.66%
20.67%
60.66%
22.51%
19.97%
SPY
25.41%
1.18%
12.15%
32.04%
15.51%
13.07%
Key characteristics
| SSO | SPY | |
|---|---|---|
| Sharpe Ratio | 2.46 | 2.62 |
| Sortino Ratio | 3.05 | 3.50 |
| Omega Ratio | 1.42 | 1.49 |
| Calmar Ratio | 3.05 | 3.78 |
| Martin Ratio | 15.04 | 17.00 |
| Ulcer Index | 3.98% | 1.87% |
| Daily Std Dev | 24.29% | 12.14% |
| Max Drawdown | -84.67% | -55.19% |
| Current Drawdown | -2.90% | -1.38% |
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SSO vs. SPY - Expense Ratio Comparison
SSO has a 0.90% expense ratio, which is higher than SPY's 0.09% expense ratio.
Correlation
The correlation between SSO and SPY 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.
Risk-Adjusted Performance
SSO vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra S&P 500 (SSO) and SPDR S&P 500 ETF (SPY). 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.
Dividends
SSO vs. SPY - Dividend Comparison
SSO's dividend yield for the trailing twelve months is around 0.70%, less than SPY's 1.19% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SSO ProShares Ultra S&P 500 | 0.70% | 0.18% | 0.50% | 0.18% | 0.20% | 0.50% | 0.75% | 0.39% | 0.51% | 0.63% | 0.32% | 0.26% |
SPY SPDR S&P 500 ETF | 1.19% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% | 1.81% |
Drawdowns
SSO vs. SPY - Drawdown Comparison
The maximum SSO drawdown since its inception was -84.67%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for SSO and SPY. For additional features, visit the drawdowns tool.
Volatility
SSO vs. SPY - Volatility Comparison
ProShares Ultra S&P 500 (SSO) has a higher volatility of 8.19% compared to SPDR S&P 500 ETF (SPY) at 4.09%. This indicates that SSO's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.