{"url":"https://etfiq.com/compare/leverage/sso-vs-upro","section":"compare","title":"SSO vs UPRO: which held to its multiple? | ETFIQ","description":"SSO sets out to return +2 times SPY each day and UPRO +3 times. Over the three months to Sep 30, 2026 they finished \u22121.7 pts and \u22123.4 pts away.","as_of":"Sep 30, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Which came closer to its stated multiple, SSO or UPRO?","acceptedAnswer":{"@type":"Answer","text":"Over the window to Sep 30, 2026, SSO finished 1.7 points from what its multiple implies and UPRO finished 3.4 points from its own, so SSO came closer. Neither figure predicts the next window: it depends on how much the underlying moves about."}},{"@type":"Question","name":"Are SSO and UPRO levered on the same thing?","acceptedAnswer":{"@type":"Answer","text":"Yes. Both are levered on the S&P 500, SSO at +2 times and UPRO at +3 times the daily move."}},{"@type":"Question","name":"Which one decays faster, SSO or UPRO?","acceptedAnswer":{"@type":"Answer","text":"Decay follows how much the underlying moves about. Over this window SSO\u2019s moved at 11% annualized and UPRO\u2019s at 11%, so SSO has the rougher ride and, at the same multiple, loses more to compounding."}},{"@type":"Question","name":"Can I hold SSO or UPRO for a year?","acceptedAnswer":{"@type":"Answer","text":"Both reset every day, so the multiple in the name applies to a single day and the daily results compound. Over a year the total is not the multiple times the year\u2019s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way."}},{"@type":"Question","name":"Which is cheaper, SSO or UPRO?","acceptedAnswer":{"@type":"Answer","text":"SSO charges 0.84% a year and UPRO charges 0.88%, so SSO is cheaper. Fees come from each fund's prospectus."}}]},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"Leveraged ETFs","item":"https://etfiq.com/leverage/"},{"@type":"ListItem","position":3,"name":"SSO vs UPRO","item":"https://etfiq.com/compare/leverage/sso-vs-upro"}]},{"@type":"WebPage","name":"SSO vs UPRO: which held to its multiple?","description":"SSO sets out to return +2 times SPY each day and UPRO +3 times. Over the three months to Sep 30, 2026 they finished \u22121.7 pts and \u22123.4 pts away.","url":"https://etfiq.com/compare/leverage/sso-vs-upro","dateModified":"2026-09-30","abstract":"Over three months against its own daily promise, SSO finished 1.4 points short and UPRO 2.6 points short.","publisher":{"@id":"https://etfiq.com/#org"},"isPartOf":{"@id":"https://etfiq.com/#website"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".verdict",".faq"]}},{"@type":"Dataset","name":"ETFIQ comparison of SSO and UPRO","description":"SSO sets out to return +2 times SPY each day and UPRO +3 times. Over the three months to Sep 30, 2026 they finished \u22121.7 pts and \u22123.4 pts away.","dateModified":"2026-09-30","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/leverage/sso-vs-upro","license":"https://etfiq.com/standards/","publisher":{"@id":"https://etfiq.com/#org"},"inLanguage":"en","creativeWorkStatus":"Published","distribution":[{"@type":"DataDownload","encodingFormat":"application/json","contentUrl":"https://etfiq.com/data/leverage.json"}],"variableMeasured":["Stated multiple","Underlying return","What the stated multiple implies","Fund total return","Difference against the label","Volatility of the underlying","Expense ratio"],"keywords":["exchange-traded funds","ETF","Leveraged ETFs","fund data","SEC filings"]}],"characters":6772,"truncated":true,"content":"ETFIQ / Leveraged ETFs / Head to head / SSO vs UPRO \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Sep 30, 2026 .\n\n SSO vs UPRO: which held to its multiple?\n\n Over three months against its own daily promise, SSO finished 1.4 points short and UPRO 2.6 points short.\n Copy this for sharing \n \n ProShares Ultra S&P500 and ProShares UltraPro S&P500.\n\n Download as PDF \n\n +3.3% SSO returned, 3 months \n +4.1% UPRO returned, 3 months \n \u22121.7 pts SSO from its stated multiple \n \u22123.4 pts UPRO from its stated multiple \n\n ETFIQ Decay Resistance Score: SSO scores higher\n Did it keep up with its own dai","source":"ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.","publisher":{"@id":"https://etfiq.com/#org","name":"ETFIQ","url":"https://etfiq.com"},"license":"https://etfiq.com/license/","citation":"ETFIQ, as of Sep 30, 2026. https://etfiq.com/compare/leverage/sso-vs-upro","a":{"ticker":"SSO","name":"ProShares Ultra S&P500","issuer":"ProShares","desk":"leverage","as_of":"2026-09-30","verdict":"Three months to Sep 30, 2026: SSO returned +3.3% where its own daily promise gave +4.8%, 1.4 points short.","url":"https://etfiq.com/funds/sso","key_facts":[{"label":"What SPY did","value":"+2.5%","as_of":"2026-09-30","source":null},{"label":"What 2 times a day gives","value":"+4.8%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"+3.3%","as_of":"2026-09-30","source":null},{"label":"The fund itself cost","value":"\u22121.4 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$8.4bn","as_of":"2026-09-30","source":"issuer page, as of Sep 30, 2026"},{"label":"Expense ratio","value":"0.84%","as_of":"2026-09-30","source":"485BPOS XBRL, Sep 25, 2026"}]},"b":{"ticker":"UPRO","name":"ProShares UltraPro S&P500","issuer":"ProShares","desk":"leverage","as_of":"2026-09-30","verdict":"Three months to Sep 30, 2026: UPRO returned +4.1% where its own daily promise gave +6.8%, 2.6 points short.","url":"https://etfiq.com/funds/upro","key_facts":[{"label":"What SPY did","value":"+2.5%","as_of":"2026-09-30","source":null},{"label":"What 3 times a day gives","value":"+6.8%","as_of":"2026-09-30","source":null},{"label":"What the fund returned","value":"+4.1%","as_of":"2026-09-30","source":null},{"label":"The fund itself cost","value":"\u22122.6 pts","as_of":"2026-09-30","source":null},{"label":"Net assets","value":"$5.3bn","as_of":"2026-09-30","source":"issuer page, as of Sep 30, 2026"},{"label":"Expense ratio","value":"0.88%","as_of":"2026-09-30","source":"485BPOS XBRL, Sep 25, 2026"}]},"overlap_pct":null,"overlap_note":"ETFIQ does not publish a holdings overlap for this pair. Either the funds are not compared on holdings, or one book is incomplete.","full_text_at":"https://etfiq.com/compare/leverage/sso-vs-upro"}