SSO vs. THD

Last updated Jun 4, 2026

SSO (ProShares Ultra S&P500) and THD (iShares MSCI Thailand ETF) are both exchange-traded funds - SSO is a Leveraged Equities fund tracking the S&P 500, while THD is a Asia Pacific Equities fund tracking the MSCI Thailand Investable Market Index. Both are passively managed. Over the past 10 years, SSO returned 24.21%/yr vs 3.55%/yr for THD. A 0.54 correlation means they provide meaningful diversification when combined. SSO charges 0.87%/yr vs 0.59%/yr for THD.

Performance

SSO vs. THD - Performance Comparison

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

Returns By Period

In the year-to-date period, SSO achieves a 19.37% return, which is significantly lower than THD's 25.10% return. Over the past 10 years, SSO has outperformed THD with an annualized return of 24.21%, while THD has yielded a comparatively lower 3.55% annualized return.

SSO

• 1D: -1.40%
• 1M: 9.75%
• YTD: 19.37%
• 6M: 18.81%
• 1Y: 52.69%
• 3Y*: 37.56%
• 5Y*: 19.62%
• 10Y*: 24.21%

THD

• 1D: 1.28%
• 1M: 5.27%
• YTD: 25.10%
• 6M: 25.76%
• 1Y: 43.27%
• 3Y*: 6.03%
• 5Y*: 1.08%
• 10Y*: 3.55%

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

SSO vs. THD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SSO ProShares Ultra S&P500	19.37%	26.19%	43.48%	46.65%	-38.98%	60.57%	21.54%	63.45%	-14.60%	44.35%
THD iShares MSCI Thailand ETF	25.10%	2.36%	-2.21%	-12.63%	1.22%	1.87%	-9.89%	8.32%	-8.25%	31.45%

Correlation

The correlation between SSO and THD is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (3Y) Calculated over the trailing 3-year period	0.40
Correlation (5Y) Calculated over the trailing 5-year period	0.41
Correlation (10Y) Calculated over the trailing 10-year period	0.45
Correlation (All Time) Calculated using the full available price history since Apr 2, 2008	0.54

The correlation between SSO and THD shifts across timeframes, from 0.39 (1 year) to 0.54 (all time), reflecting how their relationship changes across market environments.

SSO vs. THD - Sectors Allocation Comparison

Sectors	SSO	THD
Technology	35.6%	0.9%
Financial Services	11.8%	11.2%
Communication Services	11.2%	10.3%
Consumer Cyclical	10.1%	4.6%
Healthcare	8.5%	6.4%
Industrials	8.3%	29.3%
Consumer Defensive	4.9%	7.8%
Energy	3.5%	14.3%
Utilities	2.4%	6.7%
Real Estate	1.9%	5.1%
Basic Materials	1.8%	3.5%

Return for Risk

SSO vs. THD — Risk / Return Rank

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

SSO

SSO Risk / Return Rank: 62
SSO Sharpe Ratio Rank: 66
SSO Sortino Ratio Rank: 59
SSO Omega Ratio Rank: 60
SSO Calmar Ratio Rank: 58
SSO Martin Ratio Rank: 68

THD

THD Risk / Return Rank: 57
THD Sharpe Ratio Rank: 56
THD Sortino Ratio Rank: 54
THD Omega Ratio Rank: 51
THD Calmar Ratio Rank: 67
THD Martin Ratio Rank: 55

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. THD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra S&P500 (SSO) and iShares MSCI Thailand ETF (THD). 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	THD	Difference
Sharpe ratio Return per unit of total volatility	2.25	1.92	+0.33
Sortino ratio Return per unit of downside risk	2.86	2.64	+0.22
Omega ratio Gain probability vs. loss probability	1.38	1.32	+0.06
Calmar ratio Return relative to maximum drawdown	2.91	3.43	-0.51
Martin ratio Return relative to average drawdown	12.80	9.79	+3.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SSO vs. THD - Sharpe Ratio Comparison

The current SSO Sharpe Ratio is 2.25, which is comparable to the THD Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of SSO and THD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SSO	THD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.25	1.92	+0.33
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	0.05	+0.53
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.68	0.17	+0.51
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	0.18	+0.23

Drawdowns

SSO vs. THD - Drawdown Comparison

The maximum SSO drawdown since its inception was -84.67%, which is greater than THD's maximum drawdown of -64.22%. Use the drawdown chart below to compare losses from any high point for SSO and THD.

Drawdown Indicators

	SSO	THD	Difference
Max Drawdown Largest peak-to-trough decline	-84.67%	-64.22%	-20.45%
Max Drawdown (1Y) Largest decline over 1 year	-18.17%	-13.12%	-5.05%
Max Drawdown (3Y) Largest decline over 3 years	-35.21%	-34.11%	-1.10%
Max Drawdown (5Y) Largest decline over 5 years	-46.73%	-40.24%	-6.49%
Max Drawdown (10Y) Largest decline over 10 years	-59.34%	-49.32%	-10.02%
Current Drawdown Current decline from peak	-1.40%	-8.13%	+6.73%
Average Drawdown Average peak-to-trough decline	-19.57%	-18.28%	-1.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.13%	4.59%	-0.46%

Volatility

SSO vs. THD - Volatility Comparison

The current volatility for ProShares Ultra S&P500 (SSO) is 5.66%, while iShares MSCI Thailand ETF (THD) has a volatility of 6.46%. This indicates that SSO experiences smaller price fluctuations and is considered to be less risky than THD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SSO	THD	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.66%	6.46%	-0.80%
Volatility (6M) Calculated over the trailing 6-month period	17.78%	18.33%	-0.55%
Volatility (1Y) Calculated over the trailing 1-year period	23.60%	22.68%	+0.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.65%	19.79%	+13.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.89%	21.58%	+14.31%

SSO vs. THD - Expense Ratio Comparison

SSO has a 0.87% expense ratio, which is higher than THD's 0.59% expense ratio.

Dividends

SSO vs. THD - Dividend Comparison

SSO's dividend yield for the trailing twelve months is around 0.62%, less than THD's 2.69% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
THD iShares MSCI Thailand ETF	2.69%	3.36%	3.15%	2.92%	2.41%	3.16%	2.31%	2.42%	2.57%	2.16%	2.61%	3.58%

Frequently Asked Questions

Can I hold both SSO and THD in my portfolio?

SSO and THD have a correlation of 0.39, 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 THD?

THD has higher volatility (6.46%) compared to SSO (5.66%). In terms of maximum drawdown, SSO dropped -84.67% vs THD's -64.22%.

Which ETF is better, SSO or THD?

On 10-year performance, SSO leads with 24.21% vs 3.55% for THD. On fees, THD is cheaper at 0.59% per year. On volatility, SSO has been the lower-risk option at 5.66%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SSO or THD?

Over the 10-year period, SSO has performed better with a 24.21% return vs 3.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SSO or THD?

THD is cheaper with a 0.59% expense ratio, compared with 0.87% for SSO.

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

THD has the higher dividend yield at 2.69%, compared with 0.62% for SSO.

What is the main difference between SSO and THD?

SSO is categorized as Leveraged Equities, while THD is Asia Pacific Equities. SSO tracks S&P 500, while THD tracks MSCI Thailand Investable Market Index. They also come from different issuers: ProShares and iShares. Their fees differ too: 0.87% for SSO and 0.59% for THD.

Which has better risk-adjusted returns?

SSO currently has the higher Sharpe Ratio (2.25 vs 1.92), 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.