QLD vs. SSO: Which 2x Leveraged ETF Is Best for Investors Right Now?

Core Insights - The ProShares Ultra QQQ ETF (QLD) and ProShares Ultra S&P 500 ETF (SSO) both provide 2x daily leveraged exposure but differ in underlying index, sector concentration, and risk-return profile [1][2] Group 1: Cost and Size Comparison - SSO has a lower expense ratio of 0.87% compared to QLD's 0.95% [3] - As of December 1, 2025, SSO's one-year return is 18.32%, while QLD's is significantly higher at 32.48% [3] - SSO offers a higher dividend yield of 0.72% compared to QLD's 0.18% [3] - SSO has assets under management (AUM) of $7.7 billion, while QLD has $9.9 billion [3] Group 2: Performance and Risk Comparison - Over the past five years, SSO experienced a maximum drawdown of -46.73%, while QLD faced a more severe drawdown of -63.68% [4] - The growth of $1,000 over five years is $2,725 for SSO and $2,736 for QLD, indicating similar performance despite different risk profiles [4] Group 3: Portfolio Composition - QLD's portfolio is heavily concentrated in technology (55%), with significant allocations to Nvidia, Apple, and Microsoft [5] - SSO's portfolio is also tech-heavy (35%) but offers broader sector diversification with 503 holdings [6] - Both funds reset their daily leverage, which can lead to divergence in long-term returns, especially in volatile markets [6] Group 4: Risk Profile - QLD is identified as the more volatile option, with a higher beta of 2.22 compared to SSO's 2.02, indicating greater price fluctuations [3][9] - SSO provides more diversification and has experienced less volatility in recent years, although it has lower one-year returns compared to QLD [10][11]