In December 2025, ProShares Ultra S&P500 (SSO) and Direxion Daily Semiconductor Bull 3X Shares (SOXL) had similar expense ratios but different sector exposure. SOXL, with triple exposure to semiconductors, delivered a stronger one-year return of 38.6%, while SSO, with double exposure to the S&P 500, had a return of 22.8%. SOXL is more volatile due to its focus on semiconductors, while SSO offers a higher dividend yield. Both funds are leveraged ETFs designed for short-term trading, with SSO providing more diversified exposure across sectors. SOXL, on the other hand, is concentrated solely in technology semiconductors.

SOXL has a higher expense ratio than SSO, charging 0.89% compared to SSO’s 0.88%. The one-year return for SOXL was 38.6%, while SSO had a return of 22.8% as of December 18, 2025. SSO also offered a higher dividend yield of 1.2% compared to SOXL’s 0.5%. The two funds differed in their beta values, with SSO at 2.02 and SOXL at 4.47. In terms of assets under management, SSO had $7.2 billion, while SOXL had $13.9 billion.

SOXL focuses solely on technology semiconductors and has a more concentrated portfolio with 44 holdings. Its top positions include Advanced Micro Devices, Broadcom, and Nvidia. In contrast, SSO provides exposure to the entire S&P 500 index, with top holdings in Nvidia, Apple, and Microsoft. Both funds reset leverage daily, but their performance can differ due to their sector concentration and risk exposure. Investors need to consider the level of volatility and risk they are comfortable with when choosing between SSO and SOXL.

Read more at Nasdaq: SSO vs SOXL: Leveraging the Market or Leveraging Momentum