# SSO (ProShares Ultra S&P500)

ProShares · Leveraged ETFs · data as of Sep 11, 2026

Three months to Sep 11, 2026: SSO returned +4.9% where its own daily promise gave +6.3%, 1.4 points short.

## Key facts

- SSO, what SPY did: +3.3%, as of Sep 11, 2026.
- SSO, what +2 times a day gives: +6.3%, as of Sep 11, 2026.
- SSO, what the fund returned: +4.9%, as of Sep 11, 2026.
- SSO, the fund itself cost: −1.4 pts, as of Sep 11, 2026.
- SSO, net assets: $8.9bn (issuer page, as of Sep 11, 2026).
- SSO, expense ratio: 0.87% (485BPOS XBRL, Sep 23, 2025).

## SSO over each window to Sep 11, 2026

| Window | Fund | SPY | +2x the move | Difference | SPY moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −2.7% | −1.1% | −2.1% | −0.6 pts | 9% |
| 3 months | +4.9% | +3.3% | +6.6% | −1.7 pts | 12% |
| 6 months | +29.8% | +16.0% | +32.0% | −2.3 pts | 14% |
| 1 year | +28.5% | +17.5% | +35.0% | −6.5 pts | 13% |
| 3 years | +145.8% | +77.9% | +155.8% | −10.0 pts | 15% |
| Since launch | +2989.0% | +804.4% | not meaningful over this window | not meaningful over this window | 17% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of SPY, reset daily | ETFIQ |
| Multiple a holder actually got over the window | SPY moved +3.3% over this window, too little to read a multiple from | ETFIQ |
| Underlying | SPY | ETFIQ |
| Segment | broad index, us large cap | ETFIQ |
| Net assets | $8.9bn | issuer page, as of Sep 11, 2026 |
| Expense ratio | 0.87% | 485BPOS XBRL, Sep 23, 2025 |
| Launched | Jan 4, 2010 | ETFIQ |
| Underlying volatility over the window | 12% annualized | ETFIQ |

## Questions

### Did SSO return +2 times SPY?

Over the window to Sep 11, 2026, SPY moved +3.3% and SSO returned +4.9%. 2 times that move is +6.6%, so the fund came out 1.7 points short of it.

### Why does SSO not return +2 times over a year?

Because it resets daily. SSO aims at +2 times each day's move, and daily results compound. Over a run where the underlying falls and comes back, compounding a levered daily return leaves a holder behind what +2 times the period move would suggest; over a steady run in one direction it can leave them ahead. The longer the holding, and the more the underlying moves about, the further apart the two figures get.

### Which +2x SPY ETF tracked its stated multiple most closely?

2 issuers sell one. Over the days all of them have been trading, the table on this page ranks them by how far each finished from 2 times the underlying's move. ETFIQ does not rate funds; the order is the arithmetic.


## Cite this page

ETFIQ, SSO, data as of Sep 11, 2026. https://etfiq.com/funds/SSO
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

HTML: https://etfiq.com/funds/SSO  ·  JSON: https://etfiq.com/funds/SSO.json