QQQ vs SSO
QQQ vs SSO
Invesco QQQ Trust, Series 1 vs ProShares Ultra S&P500
Quick Verdict
QQQ has a lower expense ratio. SSO delivered stronger 1-year returns. SSO offers more diversification with 504 holdings.
Side-by-Side Comparison
| Metric | QQQ | SSO | Winner |
|---|---|---|---|
| Expense Ratio | 0.18% | 0.87% | |
| AUM | $455.8B | $7.7B | |
| Dividend Yield | 0.41% | 0.67% | |
| Holdings | 108 | 521 | |
| YTD Return | +14.45% | +19.15% | |
| 1Y Return | +24.70% | +37.21% | |
| 3Y Return (annualized) | +24.19% | +33.86% | |
| 5Y Return (annualized) | +14.49% | +17.49% | |
| Volatility (annualized) | 30.6% | 31.1% | |
| Max Drawdown | -83.0% | -85.5% | |
| Fund Family | Invesco (US) | ProShares | |
| Category | Equity | Alternative | |
| Inception | Mar 10, 1999 | Jun 19, 2006 |
QQQ vs SSO Performance
Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US) and ProShares Ultra S&P500 (SSO) is a ETF from ProShares. Over the past year QQQ returned +24.70% while SSO returned +37.21%. Year to date, QQQ is up 14.45% versus a gain of 19.15% for SSO.
Over three years, QQQ compounded at +24.19% per year against +33.86% for SSO; over five years the annualized figures are +14.49% and +17.49% respectively. Across the full 20-year window we track, SSO has the edge at +14.72% annualized vs +12.98%. 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 30.6% for QQQ. 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 -83.0% for QQQ and -85.5% for SSO. 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 0.91. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
QQQ charges 0.18% per year while SSO charges 0.87%. On a $10,000 position that is $18 vs $87 annually, a gap of $69 per year that compounds over a long holding period. On income, QQQ currently yields 0.41% against 0.67% for SSO.
Holdings Overlap
QQQ and SSO share 88 holdings out of 519 unique holdings combined, representing a 37.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in QQQ | Weight in SSO | Difference |
|---|---|---|---|
| NVDA | 7.88% | 4.99% | 2.89% |
| AAPL | 7.46% | 4.84% | 2.62% |
| MSFT | 4.65% | 3.03% | 1.62% |
| AMZN | Pro | Pro | Pro |
| MU | Pro | Pro | Pro |
| GOOGL | Pro | Pro | Pro |
| GOOG | Pro | Pro | Pro |
| AMD | Pro | Pro | Pro |
| AVGO | Pro | Pro | Pro |
| META | Pro | Pro | Pro |
See all 10 holdings QQQ shares with SSO Exact weights in each fund and the difference, for every overlapping position. Get FundXLS Pro: $29/moFirst 500 subscribers, then $49/mo. Cancel anytime. | |||
Frequently Asked Questions
Which is cheaper, QQQ or SSO?
QQQ has an expense ratio of 0.18% while SSO charges 0.87%. QQQ is the cheaper option. On a $10,000 investment, that is $69 per year of difference.
Which performed better, QQQ or SSO?
Over the past year QQQ returned +24.70% vs +37.21% for SSO, so SSO leads on 1-year performance. Over the longest common window we track (20 years), QQQ annualized +12.98% vs +14.72% for SSO. Past performance does not guarantee future results.
Which is riskier, QQQ or SSO?
SSO has been the more volatile fund at 31.1% annualized versus 30.6% for QQQ. Worst drawdown: QQQ -83.0% vs SSO -85.5%.
Should I hold both QQQ and SSO?
QQQ and SSO have a monthly-return correlation of 0.91, 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 QQQ and SSO?
QQQ and SSO share 88 common holdings with a 37.0% weight overlap. Combined, they hold 519 unique securities.
Which pays a higher dividend, QQQ or SSO?
QQQ yields 0.41% while SSO yields 0.67%, so SSO currently pays the higher dividend yield.
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