UCC vs. SSO
UCC (ProShares Ultra Consumer Services) and SSO (ProShares Ultra S&P500) are both Leveraged Equities funds from ProShares - UCC tracks the Dow Jones U.S. Consumer Services Index (200%) while SSO tracks the S&P 500. Both are passively managed. Over the past 10 years, UCC returned 13.51%/yr vs 23.69%/yr for SSO. Their 0.78 correlation means they have sometimes moved together and sometimes differently. UCC charges 0.95%/yr vs 0.87%/yr for SSO.
Performance
UCC vs. SSO - Performance Comparison
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Returns By Period
In the year-to-date period, UCC achieves a -7.03% return, which is significantly lower than SSO's 23.77% return. Over the past 10 years, UCC has underperformed SSO with an annualized return of 13.51%, while SSO has yielded a comparatively higher 23.69% annualized return.
UCC
- 1D
- 0.04%
- 1M
- 0.72%
- 6M
- -8.61%
- YTD
- -7.03%
- 1Y
- 7.77%
- 3Y*
- 12.77%
- 5Y*
- -0.73%
- 10Y*
- 13.51%
- ALL TIME*
- 13.30%
SSO
- 1D
- 3.55%
- 1M
- 6.55%
- 6M
- 21.77%
- YTD
- 23.77%
- 1Y
- 42.09%
- 3Y*
- 35.52%
- 5Y*
- 18.31%
- 10Y*
- 23.69%
- ALL TIME*
- 16.00%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $209.12M | $200.07M | $224.05M | |
| $370.01K | $220.92K | $193.13K |
UCC vs. SSO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UCC ProShares Ultra Consumer Services | -7.03% | 2.21% | 44.24% | 61.67% | -57.59% | 20.92% | 46.55% | 53.76% | -4.94% | 42.05% |
SSO ProShares Ultra S&P500 | 23.77% | 26.19% | 43.48% | 46.65% | -38.98% | 60.57% | 21.54% | 63.45% | -14.60% | 44.35% |
Correlation
The correlation between UCC and SSO is 0.76, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.76 |
Correlation (3Y) Balances recent behavior with more history. | 0.81 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.84 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.79 |
Correlation (All Time) Calculated using the full available price history since Feb 2, 2007 | 0.78 |
The correlation between UCC and SSO has been stable across timeframes, ranging from 0.76 to 0.84 - a consistent structural relationship.
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Return for Risk
UCC vs. SSO — Risk / Return Rank
UCC
SSO
UCC vs. SSO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Consumer Services (UCC) and ProShares Ultra S&P500 (SSO). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| UCC | SSO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.45 | ||
| Sortino ratioReturn per unit of downside risk | -1.65 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.29 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 0.27 | 2.33 | -2.06 |
| Martin ratioReturn relative to average drawdown | 0.63 | 9.31 | -8.68 |
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Drawdowns
UCC vs. SSO - Drawdown Comparison
The maximum UCC drawdown since its inception was -83.05%, roughly equal to the maximum SSO drawdown of -84.67%. Use the drawdown chart below to compare losses from any high point for UCC and SSO.
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Drawdown Indicators
| UCC | SSO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.05% | -84.67% | +1.62% |
Max Drawdown (1Y)Largest decline over 1 year | -29.14% | -18.17% | -10.97% |
Max Drawdown (3Y)Largest decline over 3 years | -48.01% | -35.21% | -12.80% |
Max Drawdown (5Y)Largest decline over 5 years | -61.77% | -46.73% | -15.04% |
Max Drawdown (10Y)Largest decline over 10 years | -61.77% | -59.34% | -2.43% |
Current DrawdownCurrent decline from peak | -16.99% | 0.00% | -16.99% |
Average DrawdownAverage peak-to-trough decline | -21.79% | -19.44% | -2.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.36% | 4.53% | +7.83% |
Volatility
UCC vs. SSO - Volatility Comparison
ProShares Ultra Consumer Services (UCC) has a higher volatility of 14.94% compared to ProShares Ultra S&P500 (SSO) at 8.20%. This indicates that UCC's price experiences larger fluctuations and is considered to be riskier than SSO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UCC | SSO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.94% | 8.20% | +6.74% |
Volatility (6M)Calculated over the trailing 6-month period | 30.50% | 20.57% | +9.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.87% | 25.75% | +13.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 44.27% | 33.95% | +10.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.97% | 35.94% | +5.03% |
UCC vs. SSO - Expense Ratio Comparison
UCC has a 0.95% expense ratio, which is higher than SSO's 0.87% expense ratio.
Dividends
UCC vs. SSO - Dividend Comparison
UCC's dividend yield for the trailing twelve months is around 1.24%, more than SSO's 0.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SSO ProShares Ultra S&P500 | 0.63% | 0.68% | 0.85% | 0.18% | 0.50% | 0.18% | 0.20% | 0.50% | 0.75% | 0.39% | 0.51% | 0.63% |
UCC ProShares Ultra Consumer Services | 1.24% | 1.10% | 0.17% | 0.04% | 0.25% | 0.00% | 0.02% | 0.17% | 0.18% | 0.14% | 0.21% | 0.14% |
Frequently Asked Questions
UCC and SSO have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UCC has higher volatility (14.94%) compared to SSO (8.20%). In terms of maximum drawdown, UCC dropped -83.05% vs SSO's -84.67%.
On 10-year performance, SSO leads with 23.69% vs 13.51% for UCC. On fees, SSO is cheaper at 0.87% per year. On volatility, SSO has been the lower-risk option at 8.20%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SSO has performed better with a 23.69% return vs 13.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SSO is cheaper with a 0.87% expense ratio, compared with 0.95% for UCC.
UCC has the higher dividend yield at 1.24%, compared with 0.63% for SSO.
UCC tracks Dow Jones U.S. Consumer Services Index (200%), while SSO tracks S&P 500. Their fees differ too: 0.95% for UCC and 0.87% for SSO.
SSO currently has the higher Sharpe Ratio (1.65 vs 0.20), 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.
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