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The ProShares - Ultra S&P500 (NYSEMKT:SSO) and the ProShares - UltraPro QQQ (NASDAQ:TQQQ) both offer amplified exposure to major benchmarks, but with distinct paths.
While SSO targets the established blue chip companies within the S&P 500 at double leverage, TQQQ concentrates on the tech-heavy Nasdaq-100 with triple the daily exposure — resulting in vastly different volatility profiles.
Beta measures price volatility relative to the S&P 500; beta is calculated from five-year monthly returns. The 1-yr return represents total return over the trailing 12 months. Dividend yield is the trailing-12-month distribution yield.
SSO is more affordable in terms of fees and also offers a higher dividend yield. However, because leveraged ETFs perform best as short-term investments, factors such as fees and income are unlikely to be major considerations for either fund.
Growth of $1,000 over 5 years (total return)
SSO’s underlying index is the S&P 500, and it holds just over 500 positions. Technology makes up around 34% of assets, and its top three holdings include Nvidia, Apple, and Microsoft. Like many leveraged products, it features a daily leverage reset, which can lead to performance drag in volatile markets.
TQQQ is more concentrated, with 101 holdings, and technology stocks account for just over half of the fund. Its top holdings are also Nvidia, Apple, and Microsoft.
For more guidance on ETF investing, check out the full guide at this link.
Leveraged ETFs can offer lucrative returns when their underlying indexes are thriving, but they also carry increased risk potential.
Between these two funds, TQQQ is the higher-risk, higher-reward option. It not only targets the Nasdaq-100 index, but it aims for three times the index’s daily returns. With TQQQ, expect high highs and low lows, depending on how the tech sector is faring.
SSO still carries risk as a leveraged ETF, but it offers slightly more stability. It aims for two times the daily returns of the S&P 500, which is a less volatile index than the Nasdaq-100 and may experience milder price swings.
Typically, leveraged ETFs perform best when held for only a day or two. The daily leverage reset can compound quickly — meaning the gains can stack up exponentially, but so can the losses. Because the underlying indexes can fluctuate from day to day, expect short-term volatility with either of these ETFs.
For those familiar with leveraged funds, that risk can be worth the lucrative earning potential. TQQQ could be a good fit for those looking to take on more risk for the chance to earn higher returns, while SSO may be a better option to limit some of the volatility of leveraged ETFs.
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Katie Brockman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple, Microsoft, and Nvidia. The Motley Fool has a disclosure policy.
ProShares SSO vs TQQQ: What Investors Need to Know About These Supercharged Leveraged ETFs was originally published by The Motley Fool