Dividend comparison
UPRO vs SSO: Which Is Better?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for ProShares - UltraPro S&P500 and ProShares - Ultra S&P500, side by side. Updated October 21, 2026.
UPRO vs SSO: key differences
The short answer, from the latest data on this page.
- Fees. Both charge about 0.88% a year, so cost is not what separates them.
- Income. Their trailing yields are almost the same: 0.76% for UPRO and 0.68% for SSO. Both pay quarterly.
- Performance. Over the last 5 years, UPRO returned 134.3% versus 119.5% for SSO, with dividends reinvested. $10,000 would have grown to $23,434 in UPRO and $21,946 in SSO.
- Risk. UPRO has been the bumpier ride. Its worst peak-to-trough decline over the last 5 years was -63.9%, against -46.7% for SSO.
- Diversification. UPRO holds 522 positions and SSO holds 521. The ten largest positions make up 39.1% of UPRO and 40.6% of SSO.
- Overlap. At least 52% of the two portfolios overlap by weight, across 100 shared holdings.
- Dividend growth. UPRO grew its yearly payout 116.0% a year over the last 4 years, versus 32.5% for SSO.
Bottom line: UPRO fits better if you care most about stronger 5-year returns and faster dividend growth. SSO fits better if you care most about smaller drawdowns.
Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
| Metric | UPRO ProShares - UltraPro S&P500 | SSO ProShares - Ultra S&P500 |
|---|---|---|
| Dividend yield (TTM) | 0.76% | 0.68% |
| Dividend / share (TTM) | $1.13 | $0.48 |
| Payout frequency | Quarterly | Quarterly |
| Last dividend | $0.2698 on Sep 29, 2026 | $0.1179 on Sep 29, 2026 |
| Ex-dividend date | Sep 23, 2026 | Sep 23, 2026 |
| Dividend growth (CAGR) | 116.0% over 4 yrs | 32.5% over 4 yrs |
| Price | $149.58 | $70.27 |
| Dividend growth streak | 5 years | — |
| Beta | 3.03 | 2.02 |
| Max drawdown (5Y) | -63.9% | -46.7% |
| Market cap | $4.58B | $8.87B |
| Exchange | AMEX | AMEX |
| Expense ratio | 0.88% | 0.88% |
| Assets under management | $5.53B | $8.93B |
| Number of holdings | 522 | 521 |
| Top 10 concentration | 39.1% | 40.6% |
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.
UPRO
$6.30/mo
$76 /yr at 0.76% yield
SSO
$5.65/mo
$68 /yr at 0.68% yield
Dividend history
Total dividends paid per share in each calendar year. UPRO pays quarterly; SSO pays quarterly.
| Year | UPRO | SSO |
|---|---|---|
| 2025 | $0.9734 | $0.3953 |
| 2024 | $0.8205 | $0.4813 |
| 2023 | $0.4030 | $0.0591 |
| 2022 | $0.1715 | $0.1109 |
| 2021 | $0.0447 | $0.1281 |
Strategy: Leveraged
Funds that use swaps and futures to deliver two or three times the daily return of an index. The multiple resets every day, so over longer periods the result can differ sharply from simply multiplying the index return, especially when the market is choppy. They are built as short-term trading tools.
Daily rebalancing causes decay in sideways or volatile markets, and a large one-day drop can wipe out most of the fund's value.
Performance
Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Oct 20, 2021 would now be worth $23,434 in UPRO and $21,946 in SSO.
| Period | UPRO | SSO |
|---|---|---|
| 1 month | 1.80% | 1.43% |
| 3 months | 8.21% | 6.12% |
| Year to date | 30.02% | 22.04% |
| 1 year | 33.52% | 24.90% |
| 3 years | 294.36% | 179.85% |
| 5 years | 134.34% | 119.46% |
- UPRO
- SSO
Both series indexed to 100 on 2021-10-20 using the adjusted closing price series. Past performance does not guarantee future results.
Sector allocation
Weight of each sector within the fund. Sectors are aligned on the same row so the two funds can be read against each other directly.
- UPRO
- SSO
UPRO vs SSO holdings overlap
At least 52% overlap by weight, with 100 holdings in common. Overlap adds up the smaller of the two weights for every stock both funds own, so 100% would mean identical portfolios.
| Largest shared holdings | UPRO weight | SSO weight |
|---|---|---|
| IQMMPROSHARES GENIUS MNY MKT ETF | 20.54% | 14.70% |
| NVDANVIDIA CORP | 3.96% | 5.52% |
| AAPLAPPLE INC | 3.77% | 5.26% |
| MSFTMICROSOFT CORP | 2.99% | 4.16% |
| AMZNAMAZON.COM INC | 1.94% | 2.71% |
| GOOGLALPHABET INC-CL A | 1.52% | 2.12% |
| GOOGALPHABET INC-CL C | 1.22% | 1.70% |
| AVGOBROADCOM INC | 1.20% | 1.67% |
| METAMETA PLATFORMS INC-CLASS A | 1.17% | 1.63% |
| TSLATESLA INC | 0.78% | 1.09% |
Top 10 holdings
Largest positions by portfolio weight.
UPRO522 holdings total
Quick verdict
UPRO fits better if you care most about stronger 5-year returns and faster dividend growth. SSO fits better if you care most about smaller drawdowns. Model the holding inside your real portfolio before deciding.
Still deciding? Compare them in your portfolio
Forecast dividend income, track payouts, and see how UPRO vs SSO fits with the rest of your holdings. Free to start — no credit card required for the trial.
Frequently asked questions
Is UPRO or SSO better for dividend income?
It depends on your goals. UPRO currently yields 0.76% Trailing Twelve Months (TTM) while SSO yields 0.68%. Higher yield means more current income per dollar invested, but may come with different risk, growth, or NAV characteristics. Compare total return and payout sustainability — not just the headline yield.
What is the difference between UPRO and SSO?
ProShares - UltraPro S&P500 (UPRO) is an ETF listed on AMEX. ProShares - Ultra S&P500 (SSO) is an ETF listed on AMEX. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.
Which is cheaper, UPRO or SSO?
They cost about the same: UPRO charges 0.88% a year and SSO charges 0.88%.
Which has performed better, UPRO or SSO?
Over the last 5 years, UPRO has the higher total return with dividends reinvested: UPRO returned 134.3% and SSO returned 119.5%. Past performance does not predict future returns.
Which is riskier, UPRO or SSO?
Measured by the worst peak-to-trough decline over the last five years, UPRO has been riskier: UPRO fell as much as 63.9% and SSO as much as 46.7%. Their betas are 3.03 and 2.02.
How much do UPRO and SSO overlap?
At least 52% of the two portfolios overlap by weight, across 100 shared holdings. The largest shared positions are IQMM, NVDA, AAPL. Holding both still adds meaningful diversification.
How often do UPRO and SSO pay dividends?
Both pay quarterly. The most recent payments were $0.2698 for UPRO and $0.1179 for SSO.
How much income does $10,000 in UPRO vs SSO generate?
At current TTM yields, $10,000 in UPRO would generate roughly $6.30 per month ($76 annually). The same amount in SSO would produce about $5.65 per month ($68 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both UPRO and SSO?
Yes. Many income investors hold both to diversify strategy or index exposure. Whether the combination actually diversifies depends on overlapping holdings and factor exposure. Model both inside Dividend Wealth to see combined income, sector mix, and forecast impact.
Where can I compare UPRO vs SSO with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how UPRO and SSO fit alongside the rest of your portfolio. A 14-day free trial of Standard is available with no credit card required; a limited Free plan is also available.
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For informational and educational purposes only. Not investment advice. Past performance and current yields do not guarantee future results. Verify figures independently before making investment decisions.