IVV vs SSO
iShares Core S&P 500 ETF vs ProShares Ultra S&P500
Quick Verdict
IVV has a lower expense ratio. SSO delivered stronger 1-year returns. SSO offers more diversification with 521 holdings.
Side-by-Side Comparison
| Metric | IVV | SSO | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.87% | |
| AUM | $907.0B | $8.6B | |
| Dividend Yield | 1.10% | 0.67% | |
| Holdings | 508 | 521 | |
| YTD Return | +12.71% | +21.24% | |
| 1Y Return | +21.89% | +38.08% | |
| 3Y Return (annualized) | +22.08% | +36.60% | |
| 5Y Return (annualized) | +12.96% | +17.29% | |
| Volatility (annualized) | 15.1% | 31.1% | |
| Max Drawdown | -56.5% | -85.5% | |
| Fund Family | iShares by BlackRock (US) | ProShares | |
| Category | Equity | Alternative | |
| Inception | May 15, 2000 | Jun 19, 2006 |
IVV vs SSO Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and ProShares Ultra S&P500 (SSO) is a ETF from ProShares. Over the past year IVV returned +21.89% while SSO returned +38.08%. Year to date, IVV is up 12.71% versus a gain of 21.24% for SSO.
Over three years, IVV compounded at +22.08% per year against +36.60% for SSO; over five years the annualized figures are +12.96% and +17.29% respectively. Across the full 20-year window we track, SSO has the edge at +14.78% annualized vs +7.00%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SSO has been the more volatile fund, with annualized monthly volatility of 31.1% compared with 15.1% for IVV. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -56.5% for IVV and -85.5% for SSO. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 1.00. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
IVV charges 0.03% per year while SSO charges 0.87%. On a $10,000 position that is $3 vs $87 annually, a gap of $84 per year that compounds over a long holding period. On income, IVV currently yields 1.10% against 0.67% for SSO.
Holdings Overlap
IVV and SSO share 488 holdings out of 521 unique holdings combined, representing a 65.9% weight overlap.
High overlap means holding both may not provide much additional diversification.
Frequently Asked Questions
Which is cheaper, IVV or SSO?
IVV has an expense ratio of 0.03% while SSO charges 0.87%. IVV is the cheaper option. On a $10,000 investment, that is $84 per year of difference.
Which performed better, IVV or SSO?
Over the past year IVV returned +21.89% vs +38.08% for SSO, so SSO leads on 1-year performance. Over the longest common window we track (20 years), IVV annualized +7.00% vs +14.78% for SSO. Past performance does not guarantee future results.
Which is riskier, IVV or SSO?
SSO has been the more volatile fund at 31.1% annualized versus 15.1% for IVV. Worst drawdown: IVV -56.5% vs SSO -85.5%.
Should I hold both IVV and SSO?
IVV and SSO have a monthly-return correlation of 1.00, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between IVV and SSO?
IVV and SSO share 488 common holdings with a 65.9% weight overlap. Combined, they hold 521 unique securities.
Which pays a higher dividend, IVV or SSO?
IVV yields 1.10% while SSO yields 0.67%, so IVV currently pays the higher dividend yield.
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