ProShares - Ultra S&P500
This 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.
$70.44−1.09 (−1.53%)
- Expense ratio
- 0.88%
- Fund size
- $8.8B
- 1Y return
- +27.9%
- Yield · Last 12 months
- 0.63%
- Holdings
- 521
- Volume · 30D
- 3.2M sh
- NAV per share
- $69.47
- 52W range
The ETF.net SSO Grade
Score 65 of 100 sits in the B band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.BScore 59Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.AScore 85Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.BScore 62Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.AScore 81Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.AScore 83Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.AScore 77Category rank
Our read on SSO
BThe original 2x S&P 500 ETF, running since 2006. It aims to double the index's daily move and stops there, in a corner of the market where most rivals reach for 3x.
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
- Launched in 2006, one of the first leveraged S&P 500 funds, and now a multi-billion-dollar fund that trades actively.
- 2x, not 3x: half the daily leverage of SPXL and UPRO, over the same roughly 500 large-cap stocks.
- The 0.88% fee sits at the middle of the leveraged S&P 500 pack, and this is one of the tighter implementations of the daily 2x mandate in that group.
Worth knowing
- Leverage resets every day. Hold longer than a day and the result depends on the path the index took, which can differ from 2x the index's move.proshares.com
- Amplification cuts both ways: a down day for the S&P 500 lands roughly twice as hard here.
- SPUU targets the same daily 2x S&P 500 exposure for 0.66%.
SSO Holdings
- Stocks
- 521
- 50%
- IQMM
Sectors
- Technology38.7%
- Financials12.1%
- Communication9.5%
- Consumer Discr.9.3%
- Health Care9.3%
- Industrials7.8%
- Cons. Staples4.5%
- Energy3.5%
- Utilities2.0%
- Real Estate1.8%
- Materials1.7%
Geography
- United States98.05%
- Ireland0.99%
- United Kingdom0.32%
- Switzerland0.25%
- Singapore0.22%
- Netherlands0.09%
- Bermuda0.06%
- Canada0.01%
SSO Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
SSO$12,792
Returns run to the Sep 22, 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.
| Period | SSO |
|---|---|
| Year to date | +24.0% |
| 1 month | +2.0% |
| 3 months | +6.7% |
| 1 year | +27.9% |
| 3 years | +39.2% |
| 5 years | +18.6% |
| 10 years | +23.5% |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | SSO |
|---|---|---|
| 2026 YTD | +24.0% | |
| 2025 | +26.2% | |
| 2024 | +43.2% | |
| 2023 | +46.6% | |
| 2022 | −39.0% | |
| 2021 | +60.2% | |
| 2020 | +21.5% |
SSO in the news
SSO Dividends
- 0.63%
- $0.45
- $0.13 per share
- Quarterly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Jun 24, 2026 | Jun 30, 2026 | $0.13 |
| Mar 25, 2026 | Mar 31, 2026 | $0.11 |
| Dec 24, 2025 | Dec 31, 2025 | $0.12 |
| Sep 24, 2025 | Sep 30, 2025 | $0.09 |
| Jun 25, 2025 | Jul 1, 2025 | $0.10 |
| Mar 26, 2025 | Apr 1, 2025 | $0.08 |
| Dec 23, 2024 | Dec 31, 2024 | $0.12 |
| Sep 25, 2024 | Oct 2, 2024 | Data unavailable |
| Jun 26, 2024 | Jul 3, 2024 | $0.10 |
| Mar 20, 2024 | Mar 27, 2024 | $0.09 |
| Dec 20, 2023 | Dec 28, 2023 | $0.06 |
| Dec 22, 2022 | Dec 30, 2022 | $0.09 |
SSO Risk
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.
- 26.4%
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.
- 1.08
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.
- −46.7%
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.
- 2.01
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
SSO Cost
0.88%
SSO0.88%
- The middle half of 2x/3x Long S&P 500 funds
- Median 0.88%
3 of the 7 2x/3x Long S&P 500 funds charge less.