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Launched · SEC filings

ProShares Ultra S&P500

SSONYSE ArcaProSharesBThis fund multiplies its index's move each day and resets that multiple daily. Because daily returns compound, its long-run return can differ from the headline multiple.

$67.02−0.65 (−0.96%)

At close: Nov 2, 2026, 4:00 PM ET

B66/ 100

Rank 1 of 9 in 2x/3x Long S&P 500

B66/100Rank 1 of 9in2x/3x Long S&P 500
Intraday session: down, 79 prints from 67.67 to 67.02. Range 67.02 to 69.04. Use the arrow keys to read each point.68.0068.5069.0010 AM12 PM2 PM4 PM
Expense ratio
0.84%*
Fund size
$8.45B
1Y total return
+16.8%
Yield · Last 12 months
0.70%
Holdings
511
Avg volume · 30D
3.19M sh
52W range
low $48.63high $72.80
Launched
Filings
SEC EDGAR

*After a fee waiver that ends Sep 30, 2027. Without it: 0.88%.

The ETF.net SSO Grade

B

Score 66 out of 100

Category
2x/3x Long S&P 500⁠
Rank
1 of 9
Six-pillar profile for SSO. Scores out of 100: Cost 59, Risk 63, Mission 84, Tradability 82, Holdings 78, Durability 77. Strongest: Mission (84). Weakest: Cost (59). No single pillar leads.

Score 66 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    B59 out of 100
    Rank 4 of 9

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A84 out of 100
    Rank 2 of 3

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B63 out of 100
    Rank 3 of 9

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A82 out of 100
    Rank 2 of 9

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    A78 out of 100
    Rank 1 of 4

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    A77 out of 100
    Rank 1 of 9

Our read on SSO

ETF.net Research

In short

BThe 2x S&P 500 trade in its original wrapper: ProShares has run SSO since 2006, resetting the leverage every single day. Half the dial of the 3x crowd, at 0.84% net of a waiver through September 30, 2027.

Stated mandate

The fund seeks daily investment results, before fees and expenses, corresponding to twice the daily performance of the S&P 500.

Why people hold it

  • Mechanically plain: it aims for twice the S&P 500's move each day, then resets. Half the daily dial of the 3x versions, UPRO and SPXL.proshares.com
  • Holds roughly 500 S&P 500 stocks plus swaps for the extra exposure, and has tracked its daily target tightly, among the stronger builds in its peer group.proshares.com
  • Size and volume are on its side: a multi-billion-dollar fund that changes hands actively every session.
  • Trading since 2006, part of the original ProShares leveraged lineup, so there is a long record across several market cycles.sec.gov

Worth knowing

  • The daily reset is the whole game. Hold longer than a day and compounding means your result can differ from 2x the index move, especially in choppy markets.proshares.com
  • Leverage cuts both ways: a one-day drop in the S&P 500 is doubled in the fund, before fees.proshares.com
  • 0.84% net of a waiver through September 30, 2027 (0.88% gross), near the category median. SPUU runs 0.60% net of a waiver through September 1, 2027 for the same 2x target.

SSO Holdings

Holdings pillarA78 out of 100Rank 1 of 4 in 2x/3x Long S&P 500
Asset class
Stocks
Holdings
511
Top-10 weight
49%
Largest holding
IQMM15.5%

Sectors

  • Technology32.1%
  • Financials27.7%
  • Health Care8.0%
  • Consumer Discretionary7.3%
  • Communication7.3%
  • Industrials6.0%
  • Consumer Staples3.9%
  • Energy3.2%
  • Utilities1.7%
  • Materials1.5%
  • Real Estate1.4%

Geography

  • United States99.53%
  • Switzerland0.26%
  • China0.10%
  • Mexico0.05%
  • Ireland0.03%
  • United Kingdom0.03%
The fund’s holdings, weight-ordered — page 1 of 35.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1IQMMProshares Genius Mny Mkt Etf15.52%13,100,000$1.31B61
2No dataNet Other Assets (Liabilities)9.94%840,393,468$840M151
3AAPLApple Inc5.39%1,321,235$455M723
4NVDANVIDIA Corp5.31%2,190,942$448M848
5MSFTMicrosoft Corp4.15%672,249$351M819
6AMZNAmazon.com Inc2.53%888,634$214M738
7GOOGLAlphabet Inc-Cl A1.76%531,281$149M707
8AVGOBroadcom Inc1.66%430,671$140M753
9No dataTREASURY BILL, 0%, due 2026-12-291.63%139,000,000$138M19
10METAMeta Platforms Inc-Class A1.45%199,683$123M708
11GOOGAlphabet Inc-Cl C1.42%430,360$120M480
12LLYEli Lilly & Co1.22%72,464$103M593
13TSLATesla Inc1.21%255,160$102M528
14BRK.BBerkshire Hathaway Inc-Cl B1.08%168,583$91.5M374
15MUMicron Technology Inc1.07%102,311$90.5M686

Showing 1–15 of 511 holdings

SSO Performance

Launched Jun 19, 2006

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

SSO$11,681
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. SSO $11,681. SPY $11,199. Use the arrow keys to read each point.$9,000$10,000$11,000$12,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for SSO. Periods over one year show the average yearly return.
PeriodSSO
Year to date+17.5%
1 month−2.4%
3 months+1.2%
1 year+16.8%
3 yearsper year+39.7%
5 yearsper year+15.2%
10 yearsper year+23.4%

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for SSO
YearReturn barSSO
2026 YTD+17.5%
2025+26.2%

SSO in the news

SSO Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
0.70%Last 12 months
Payout per share
$0.48Last 12 months
Last payment
$0.12 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2017–2026

One bar per payment. 16 payments from 2017 to 2026 YTD. Dec 24, 2019 $0.03; Mar 25, 2020 $0.02; Dec 23, 2020 $0.02; Mar 23, 2022 $0.02; Dec 22, 2022 $0.09; Dec 20, 2023 $0.06; Mar 20, 2024 $0.09; Jun 26, 2024 $0.10; Dec 23, 2024 $0.12; Mar 26, 2025 $0.08; Jun 25, 2025 $0.10; Sep 24, 2025 $0.09; Dec 24, 2025 $0.12; Mar 25, 2026 $0.11; Jun 24, 2026 $0.13; Sep 23, 2026 $0.12. Use the arrow keys to read each point.2017201820192020202120222023202420252026YTD
Ex-datePay dateAmount per share
Sep 23, 2026Sep 29, 2026$0.12
Jun 24, 2026Jun 30, 2026$0.13
Mar 25, 2026Mar 31, 2026$0.11
Dec 24, 2025Dec 31, 2025$0.12
Sep 24, 2025Sep 30, 2025$0.09
Jun 25, 2025Jul 1, 2025$0.10
Mar 26, 2025Apr 1, 2025$0.08
Dec 23, 2024Dec 31, 2024$0.12
Sep 25, 2024Oct 2, 2024No data
Jun 26, 2024Jul 3, 2024$0.10
Mar 20, 2024Mar 27, 2024$0.09
Dec 20, 2023Dec 28, 2023$0.06

See all 71 payments⁠

$10,000 in SSO 10 years ago paid $1,593 in dividends.⁠

SSO Risk

Risk pillarB63 out of 100Rank 3 of 9 in 2x/3x Long S&P 500

This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.

How much the fund’s monthly returns vary, scaled to a year.
25.2%
Annualised · 36 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
1.29
vs 3-month T-bills · to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−46.7%
Trough Oct 2022
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
2.02
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

SSO Cost

Compare SSO and USLX

Overpaying vs USLX, cheapest in 2x/3x Long S&P 500

$11,874

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • SSO 0.84%

    $16,029

  • USLX 0.20% Cheapest

    $4,155

$10,000
30 years

Cost over time

  • SSO 0.84%
  • USLX 0.20%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530SSO $16,029USLX $4,155

Year by year

YearSSOUSLXOverpaying
10$1,491$365$1,126
20$5,643$1,421$4,222
30$16,029$4,155$11,874
How the 0.84% is worked out

Full fee 0.88%− waiver 0.04%= you pay 0.84%

The waiver ends Sep 30, 2027. After that the fee is 0.88% unless ProShares renews it. Source: prospectus, Sep 2026.

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