SSO vs VOO
ProShares Ultra S&P500 vs Vanguard S&P 500 ETF
Quick Verdict
VOO has a lower expense ratio. SSO delivered stronger 1-year returns. SSO offers more diversification with 521 holdings.
Side-by-Side Comparison
| Metric | SSO | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.87% | 0.03% | |
| AUM | $8.9B | $997.4B | |
| Dividend Yield | 0.67% | 1.08% | |
| Holdings | 521 | 509 | |
| YTD Return | +20.86% | +12.63% | |
| 1Y Return | +35.94% | +20.89% | |
| 3Y Return (annualized) | +34.41% | +21.06% | |
| 5Y Return (annualized) | +16.60% | +12.62% | |
| Volatility (annualized) | 31.1% | 14.1% | |
| Max Drawdown | -85.5% | -34.3% | |
| Fund Family | ProShares | Vanguard (US) | |
| Category | Alternative | Equity | |
| Inception | Jun 19, 2006 | Sep 7, 2010 |
SSO vs VOO Performance
ProShares Ultra S&P500 (SSO) is a ETF from ProShares and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year SSO returned +35.94% while VOO returned +20.89%. Year to date, SSO is up 20.86% versus a gain of 12.63% for VOO.
Over three years, SSO compounded at +34.41% per year against +21.06% for VOO; over five years the annualized figures are +16.60% and +12.62% respectively. Across the full 16-year window we track, SSO has the edge at +14.74% annualized vs +13.44%. 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 14.1% for VOO. 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 -85.5% for SSO and -34.3% for VOO. 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
SSO charges 0.87% per year while VOO charges 0.03%. On a $10,000 position that is $87 vs $3 annually, a gap of $84 per year that compounds over a long holding period. On income, SSO currently yields 0.67% against 1.08% for VOO.
Holdings Overlap
SSO and VOO share 480 holdings out of 525 unique holdings combined, representing a 64.2% weight overlap.
High overlap means holding both may not provide much additional diversification.
Frequently Asked Questions
Which is cheaper, SSO or VOO?
SSO has an expense ratio of 0.87% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $84 per year of difference.
Which performed better, SSO or VOO?
Over the past year SSO returned +35.94% vs +20.89% for VOO, so SSO leads on 1-year performance. Over the longest common window we track (16 years), SSO annualized +14.74% vs +13.44% for VOO. Past performance does not guarantee future results.
Which is riskier, SSO or VOO?
SSO has been the more volatile fund at 31.1% annualized versus 14.1% for VOO. Worst drawdown: SSO -85.5% vs VOO -34.3%.
Should I hold both SSO and VOO?
SSO and VOO 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 SSO and VOO?
SSO and VOO share 480 common holdings with a 64.2% weight overlap. Combined, they hold 525 unique securities.
Which pays a higher dividend, SSO or VOO?
SSO yields 0.67% while VOO yields 1.08%, so VOO currently pays the higher dividend yield.
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