URTY vs. SSO

Last updated Aug 4, 2026

URTY (ProShares UltraPro Russell2000) and SSO (ProShares Ultra S&P500) are both Leveraged Equities funds from ProShares - URTY tracks the Russell 2000 Index (300%) while SSO tracks the S&P 500. Both are passively managed. Over the past 10 years, URTY returned 6.75%/yr vs 23.26%/yr for SSO. Their correlation of 0.84 means they have usually moved in the same direction. URTY charges 0.95%/yr vs 0.87%/yr for SSO.

Performance

URTY vs. SSO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraPro Russell2000 (URTY) and ProShares Ultra S&P500 (SSO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, URTY achieves a 55.97% return, which is significantly higher than SSO's 19.52% return. Over the past 10 years, URTY has underperformed SSO with an annualized return of 6.75%, while SSO has yielded a comparatively higher 23.26% annualized return.

URTY

• 1D: 5.14%
• 1M: -2.55%
• 6M: 31.22%
• YTD: 55.97%
• 1Y: 118.59%
• 3Y*: 23.05%
• 5Y*: -2.82%
• 10Y*: 6.75%
• ALL TIME*: 14.07%

SSO

• 1D: 2.91%
• 1M: 2.90%
• 6M: 15.55%
• YTD: 19.52%
• 1Y: 41.35%
• 3Y*: 33.95%
• 5Y*: 17.79%
• 10Y*: 23.26%
• ALL TIME*: 15.80%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SSO ProShares Ultra S&P500	$185.74M	$192.80M	$223.12M
URTY ProShares UltraPro Russell2000	$35.77M	$36.50M	$68.68M

URTY vs. SSO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
URTY ProShares UltraPro Russell2000	55.97%	9.26%	7.38%	24.43%	-62.81%	28.47%	-7.72%	72.37%	-39.59%	38.85%
SSO ProShares Ultra S&P500	19.52%	26.19%	43.48%	46.65%	-38.98%	60.57%	21.54%	63.45%	-14.60%	44.35%

Correlation

The correlation between URTY and SSO is 0.79, 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.	0.79
Correlation (3Y) Balances recent behavior with more history.	0.78
Correlation (5Y) Shows whether the relationship held over a longer period.	0.82
Correlation (10Y) Provides a long-term view across more market conditions.	0.81
Correlation (All Time) Calculated using the full available price history since Feb 11, 2010	0.84

The correlation between URTY and SSO has been stable across timeframes, ranging from 0.78 to 0.84 - a consistent structural relationship.

URTY vs. SSO - Sectors Allocation Comparison

Sectors	URTY	SSO
Healthcare	20.2%	6.3%
Financial Services	17.7%	25.4%
Technology	14.8%	26.3%
Industrials	14.1%	5.4%
Consumer Cyclical	9.2%	6.1%
Real Estate	6.7%	1.3%
Energy	5.4%	2.3%
Basic Materials	4.4%	1.3%
Utilities	2.7%	1.9%
Consumer Defensive	2.6%	3.2%
Communication Services	2.2%	6.4%

Return for Risk

URTY vs. SSO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

URTY

URTY Risk / Return Rank: 81
URTY Sharpe Ratio Rank: 85
URTY Sortino Ratio Rank: 77
URTY Omega Ratio Rank: 71
URTY Calmar Ratio Rank: 88
URTY Martin Ratio Rank: 84

SSO

SSO Risk / Return Rank: 67
SSO Sharpe Ratio Rank: 70
SSO Sortino Ratio Rank: 65
SSO Omega Ratio Rank: 65
SSO Calmar Ratio Rank: 64
SSO Martin Ratio Rank: 73

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

URTY vs. SSO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro Russell2000 (URTY) 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.

	URTY	SSO	Difference
Sharpe ratio: Return per unit of total volatility	2.06	1.63	+0.44
Sortino ratio: Return per unit of downside risk	2.56	2.18	+0.38
Omega ratio: Gain probability vs. loss probability	1.30	1.28	+0.02
Calmar ratio: Return relative to maximum drawdown	3.66	2.29	+1.38
Martin ratio: Return relative to average drawdown	12.00	9.14	+2.86

URTY vs. SSO - Sharpe Ratio Comparison

The current URTY Sharpe Ratio is 2.06, which is comparable to the SSO Sharpe Ratio of 1.63. The chart below compares the historical Sharpe Ratios of URTY and SSO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

URTY vs. SSO - Drawdown Comparison

The maximum URTY drawdown since its inception was -88.09%, roughly equal to the maximum SSO drawdown of -84.67%. Use the drawdown chart below to compare losses from any high point for URTY and SSO.

Drawdown Indicators

	URTY	SSO	Difference
Max Drawdown Largest peak-to-trough decline	-88.09%	-84.67%	-3.42%
Max Drawdown (1Y) Largest decline over 1 year	-32.56%	-18.17%	-14.39%
Max Drawdown (3Y) Largest decline over 3 years	-65.85%	-35.21%	-30.64%
Max Drawdown (5Y) Largest decline over 5 years	-82.76%	-46.73%	-36.03%
Max Drawdown (10Y) Largest decline over 10 years	-88.09%	-59.34%	-28.75%
Current Drawdown Current decline from peak	-35.79%	-1.28%	-34.51%
Average Drawdown Average peak-to-trough decline	-34.80%	-19.44%	-15.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.92%	4.53%	+5.39%

Volatility

URTY vs. SSO - Volatility Comparison

ProShares UltraPro Russell2000 (URTY) has a higher volatility of 12.57% compared to ProShares Ultra S&P500 (SSO) at 7.63%. This indicates that URTY'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.

Volatility by Period

	URTY	SSO	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.57%	7.63%	+4.94%
Volatility (6M) Calculated over the trailing 6-month period	42.24%	20.31%	+21.93%
Volatility (1Y) Calculated over the trailing 1-year period	57.90%	25.58%	+32.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	67.36%	33.91%	+33.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	69.28%	35.93%	+33.35%

URTY vs. SSO - Expense Ratio Comparison

URTY has a 0.95% expense ratio, which is higher than SSO's 0.87% expense ratio.

Dividends

URTY vs. SSO - Dividend Comparison

URTY's dividend yield for the trailing twelve months is around 0.76%, more than SSO's 0.66% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SSO ProShares Ultra S&P500	0.66%	0.68%	0.85%	0.18%	0.50%	0.18%	0.20%	0.50%	0.75%	0.39%	0.51%	0.63%
URTY ProShares UltraPro Russell2000	0.76%	1.02%	1.16%	0.55%	0.28%	0.00%	0.00%	0.18%	0.28%	0.00%	0.03%	0.00%

Frequently Asked Questions

Can I hold both URTY and SSO in my portfolio?

URTY and SSO have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, URTY or SSO?

URTY has higher volatility (12.57%) compared to SSO (7.63%). In terms of maximum drawdown, URTY dropped -88.09% vs SSO's -84.67%.

Which ETF is better, URTY or SSO?

On 10-year performance, SSO leads with 23.26% vs 6.75% for URTY. On fees, SSO is cheaper at 0.87% per year. On volatility, SSO has been the lower-risk option at 7.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, URTY or SSO?

Over the 10-year period, SSO has performed better with a 23.26% return vs 6.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, URTY or SSO?

SSO is cheaper with a 0.87% expense ratio, compared with 0.95% for URTY.

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

URTY has the higher dividend yield at 0.76%, compared with 0.66% for SSO.

What is the main difference between URTY and SSO?

URTY tracks Russell 2000 Index (300%), while SSO tracks S&P 500. Their fees differ too: 0.95% for URTY and 0.87% for SSO.

Which has better risk-adjusted returns?

URTY currently has the higher Sharpe Ratio (2.06 vs 1.63), 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.