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ETF Comparison

SSO vs VOO: Which Is the Better Pick in 2026?

A head-to-head comparison of ProShares Ultra S&P500 and Vanguard S&P 500 ETF covering yield, cost, risk, and income potential.

Updated September 30, 2026

How these figures are calculated: methodology.

Best for

  • SSOInvestors who want broad equity exposure.
  • VOOInvestors who want simple, diversified core exposure in one low-cost fund.

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Visual comparison

Key metrics

Projected income on $10K

Projections assume the current yield and share price remain constant. Actual results will vary.

Total returns

100% reinvested · ex-date convention. Period returns use this fixed assumption, independent of chart settings. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year.

SSO has outpaced VOO over the trailing twelve months, posting a 25.53% total return against 16.19%. The lead holds up over 10 years too: SSO has compounded at 23.66% a year, against 15.39% for VOO. VOO has been the steadier holding, though — annualized volatility of 14.9% against 29.7% for SSO. Figures are total returns: price change plus every distribution reinvested.

Total return and risk statistics by fund. Each row is one fund; each column is one period or statistic.
SymbolYTD cumulative1Y cumulative3Y annualized5Y annualized10Y annualizedSince Sep 2010Volatility Sharpe Sortino Max drawdown
SSO20.02%25.53%38.69%18.38%23.66%24.26%29.7%0.951.36-35.2%
VOO12.52%16.19%22.89%13.48%15.39%14.87%14.9%1.091.58-18.7%

Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of September 30, 2026. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year. “Since Sep 2010” measures every fund from September 9, 2010 — the start of shared available history — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the trailing 3 years. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the trailing 3 years) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
MetricSSOVOO
Full nameProShares Ultra S&P500Vanguard S&P 500 ETF
IssuerProSharesVanguard
Last Close$69.33 as of September 30, 2026$700.86 as of September 30, 2026
Distribution rate1.02%1.04%
Trailing 12-month yield0.69%1.06%
Distribution Safety Score™ 88100
Safety-Adjusted Yield 0.90%1.04%
Expense ratio0.84%0.03%
AUM$8.62B$1041B
Distribution frequencyQuarterlyQuarterly
Underlying index—S&P 500 Index
Objective—Track the performance of the S&P 500 Index, representing 500 of the largest U.S. companies.
Asset classEquityEquity
Inception date06/19/200609/07/2010
Beta2.041.0
Last dividend$0.11787$1.8226 payable today
Ex-dividend date09/23/202609/28/2026

Bottom lineChoose SSO if you want broad equity exposure. Choose VOO if you want simple, diversified core exposure in one low-cost fund.

How the risk works

Read this before the income numbers below: the strategy mechanics on this page shape what those payouts can cost you.

  • Daily leverage reset. SSO targets a multiple of the index's DAILY move, resetting every session. Over weeks and months the compounding of daily resets (volatility decay) can drag returns far below the stated multiple, especially in choppy markets — and losses are magnified the same way gains are.

Learn the mechanics: Why daily-reset leverage decays

Model this comparison:
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Income calculator

See how much monthly income a hypothetical investment would generate in each ETF at current yields.

ProShares
ETFs170
Total AUM$129B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

ProShares is known for offering leveraged and inverse ETFs that provide amplified exposure to market movements, along with thematic and income-focused strategies. Their fund lineup spans digital assets (including Bitcoin and Ethereum exposure through BITO and EETH), dividend strategies like the Dividend Aristocrats fund (NOBL), covered call income strategies, and leveraged/inverse products that track major indices with 2x or 3x daily multipliers (such as SSO and TQQQ for tech-heavy portfolios). With 23 ETFs across specialized families including leveraged products, money market funds, and sector-specific offerings, ProShares serves investors seeking both traditional income and alternative exposure strategies.

See our curated list of related YouTube videos on SSO.

See all ProShares ETFs
Vanguard
ETFs116
Total AUM$4677B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

Vanguard is one of the largest and most established ETF issuers, known for low-cost, broadly diversified fund offerings built on passive indexing principles. Their lineup spans multiple asset classes and strategies, including core equity and bond index funds, dividend-focused portfolios, ESG-screened options, factor-based strategies, sector exposure, target-date retirement funds, and international investments across developed and emerging markets. The platform is characterized by its emphasis on accessibility and cost efficiency across a comprehensive range of fund families, serving both individual investors seeking broad market exposure and those pursuing specific income, sustainability, or thematic objectives.

See our curated list of related YouTube videos on VOO.

See all Vanguard ETFs

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Quick verdict

SSO (ProShares Ultra S&P500) and VOO (Vanguard S&P 500 ETF) are both quarterly-pay dividend ETFs, but they take different approaches.

VOO offers the higher yield at 1.04% vs 1.02% for SSO. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

VOO is cheaper with an expense ratio of 0.03% compared to 0.84%.

VOO is the larger fund by assets ($1041B), but assets alone do not establish trading costs or liquidity.

Deep dive

Yield & income

On a $10,000 investment, SSO would generate roughly $25.50 cash per distribution, while VOO would produce $26.00 cash per distribution, at current distribution rates. Both pay quarterly distributions.

SSO yield1.02%
VOO yield1.04%
Cash diff on $10K$0.50

Cost & efficiency

Over 10 years on $10,000, SSO would cost approximately $840 in fees vs $30 for VOO (simplified, not compounded). The $810.00 difference may be offset by yield or performance.

SSO ER0.84%
VOO ER0.03%

Strategy & risk

SSO is an ETF built around a leveraged/inverse strategy, while VOO tracks S&P 500 Index with a large cap approach. Beta is 2.04 for SSO and 1.0 for VOO, making VOO the less volatile of the two by this measure.

SSO beta2.04
VOO beta1.0

Fund details

SSO is managed by ProShares (launched 06/19/2006) with $8.62B in assets. VOO is managed by Vanguard (launched 09/07/2010) with $1041B in assets.

SSO AUM$8.62B
VOO AUM$1041B
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Frequently asked questions

What is the current distribution rate for SSO and VOO?

SSO currently distributes 1.02% and VOO 1.04%, based on fund data updated September 2026. Distribution rate moves with both the payout and the share price, so check the as-of date before relying on either figure.

Is SSO or VOO better for dividend income?

It depends on your goals. VOO currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.

What is the difference between SSO and VOO?

SSO (ProShares Ultra S&P500) is an ETF built around a leveraged/inverse strategy, while VOO (Vanguard S&P 500 ETF) tracks S&P 500 Index with a large cap approach. They are issued by ProShares and Vanguard respectively.

Can I hold both SSO and VOO?

Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.

Is SSO or VOO safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — VOO scores 100, SSO scores 88, so VOO's payout currently looks the more resilient of the two. VOO has also shown lower price volatility (beta 1.00 vs 2.04 for SSO). No score makes an investment risk-free — treat this as a screening signal, not a guarantee, and the leverage, options-income, or crypto caveats flagged on this page apply regardless of score.

Which has lower fees, SSO or VOO?

SSO has an expense ratio of 0.84% while VOO charges 0.03%. Lower fees mean more of your investment returns stay in your pocket over time.

How much income does $10,000 in SSO vs VOO generate?

At current rates, $10,000 in SSO would generate roughly $25.50 cash per distribution ($102.00 annually). The same in VOO would produce about $26.00 cash per distribution ($104.00 annually).

Which has performed better historically, SSO or VOO?

SSO has outpaced VOO over the trailing twelve months, posting a 25.53% total return against 16.19%. The lead holds up over 10 years too: SSO has compounded at 23.66% a year, against 15.39% for VOO. VOO has been the steadier holding, though — annualized volatility of 14.9% against 29.7% for SSO. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

SSO vs VOO — at a glance

Generated September 26, 2026.

Figures quoted in this analysis are from its generation date and may lag the live snapshot table above, which always shows the latest data.

Overview

SSO and VOO both track the S&P 500, but SSO uses 2x leverage to amplify returns, while VOO delivers unleveraged buy-and-hold index exposure. SSO is designed for tactical positions or traders seeking magnified daily moves; VOO is built for core, long-term equity allocations. The leverage in SSO comes with daily rebalancing, higher costs, and structural decay over time—making them fundamentally different tools despite identical underlying indexes.

How they differ

SSO's 2.04 beta versus VOO's 1.0 beta captures the core distinction: SSO targets 2x daily S&P 500 returns through leverage and derivatives, while VOO tracks the index directly. SSO's 0.84% expense ratio reflects the cost of maintaining leverage; VOO's 0.03% is among the lowest in equity ETFs. SSO pays 1.02% in distributions and VOO 1.04%, but SSO's lower yield reflects lost income from borrowed capital used for leverage. Most critically, SSO's daily rebalancing means it drifts from 2x performance over holding periods longer than one day, especially in choppy markets—a structural disadvantage for buy-and-hold investors.

Who each is best for

  • SSO: Fits investors using a tactical, time-bounded position who expect sustained directional momentum in the S&P 500 and understand that leverage decay erodes value in sideways or volatile markets.
  • VOO: Fits investors building a core equity foundation seeking broad U.S. large-cap exposure with minimal costs, dollar-cost averaging, or reinvesting dividends over years or decades.

Key risks to know

  • Leverage decay: SSO's daily rebalancing locks in losses and leaves it trailing true 2x returns in volatile or range-bound markets; a fund that doubles down after daily losses mathematically underperforms 2x leveraged buy-and-hold strategies over time.
  • Intraday tracking error: SSO targets 2x daily returns, not holding-period returns; a multi-month hold with intra-period volatility can produce results far from 2x the underlying index return.
  • Cost drag from borrowing: SSO's 0.84% expense ratio and embedded financing costs accumulate faster than VOO's 0.03%, compounding the disadvantage during flat or declining markets.
  • Concentration in largest 500 stocks: Both funds hold identical index weights, so both carry full S&P 500 single-index concentration risk; holdings may overlap substantially with other core equity positions.

Bottom line

If you're allocating for the long term and want the lowest possible friction, VOO's size, cost, and unleveraged structure dominate. If you're trading a short-term bullish view and understand leverage decay, SSO's amplified beta fits a tactical window—but not a hold-forever strategy. Past performance doesn't predict future results.

AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.

Learn the method

The metrics behind this comparison, explained in the Academy.

How to read a fund's stats How expense ratios eat returns Correlation between two funds

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These comparisons follow the Dividend Vision methodology.