SSO vs. TSM
Compare and contrast key facts about ProShares Ultra S&P500 (SSO) and Taiwan Semiconductor Manufacturing Company Limited (TSM).
SSO is a passively managed fund by ProShares that tracks the performance of the S&P 500. It was launched on Jun 19, 2006.
Performance
SSO vs. TSM - Performance Comparison
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SSO vs. TSM - 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% |
TSM Taiwan Semiconductor Manufacturing Company Limited | 12.69% | 55.91% | 92.58% | 42.33% | -36.75% | 12.09% | 92.67% | 64.85% | -3.50% | 41.46% |
Returns By Period
In the year-to-date period, SSO achieves a -8.90% return, which is significantly lower than TSM's 12.69% return. Over the past 10 years, SSO has underperformed TSM with an annualized return of 21.24%, while TSM has yielded a comparatively higher 32.58% 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%
TSM
- 1D
- 1.05%
- 1M
- -7.22%
- YTD
- 12.69%
- 6M
- 19.02%
- 1Y
- 104.95%
- 3Y*
- 56.55%
- 5Y*
- 24.34%
- 10Y*
- 32.58%
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Return for Risk
SSO vs. TSM — Risk / Return Rank
SSO
TSM
SSO vs. TSM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra S&P500 (SSO) and Taiwan Semiconductor Manufacturing Company Limited (TSM). 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 | TSM | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.76 | 2.74 | -1.98 |
Sortino ratioReturn per unit of downside risk | 1.27 | 3.30 | -2.04 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.42 | -0.23 |
Calmar ratioReturn relative to maximum drawdown | 1.22 | 5.96 | -4.75 |
Martin ratioReturn relative to average drawdown | 5.19 | 20.06 | -14.87 |
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 | TSM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.76 | 2.74 | -1.98 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.47 | 0.66 | -0.19 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.59 | 0.97 | -0.37 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.38 | 0.35 | +0.03 |
Correlation
The correlation between SSO and TSM is 0.61, 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. TSM - Dividend Comparison
SSO's dividend yield for the trailing twelve months is around 0.81%, less than TSM's 0.97% 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% |
TSM Taiwan Semiconductor Manufacturing Company Limited | 0.97% | 1.00% | 1.18% | 1.78% | 2.49% | 1.57% | 1.56% | 3.46% | 3.64% | 2.32% | 2.61% | 2.54% |
Drawdowns
SSO vs. TSM - Drawdown Comparison
The maximum SSO drawdown since its inception was -84.67%, roughly equal to the maximum TSM drawdown of -89.08%. Use the drawdown chart below to compare losses from any high point for SSO and TSM.
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Drawdown Indicators
| SSO | TSM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.67% | -89.08% | +4.41% |
Max Drawdown (1Y)Largest decline over 1 year | -23.17% | -18.14% | -5.03% |
Max Drawdown (5Y)Largest decline over 5 years | -46.73% | -56.47% | +9.74% |
Max Drawdown (10Y)Largest decline over 10 years | -59.34% | -56.47% | -2.87% |
Current DrawdownCurrent decline from peak | -12.18% | -11.68% | -0.50% |
Average DrawdownAverage peak-to-trough decline | -19.72% | -43.13% | +23.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.44% | 5.39% | +0.05% |
Volatility
SSO vs. TSM - Volatility Comparison
The current volatility for ProShares Ultra S&P500 (SSO) is 10.69%, while Taiwan Semiconductor Manufacturing Company Limited (TSM) has a volatility of 13.87%. This indicates that SSO experiences smaller price fluctuations and is considered to be less risky than TSM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SSO | TSM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.69% | 13.87% | -3.18% |
Volatility (6M)Calculated over the trailing 6-month period | 18.99% | 27.13% | -8.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 36.46% | 38.60% | -2.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.66% | 36.91% | -3.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.86% | 33.85% | +2.01% |