--- title: "SPXL vs. SSO: Which Leveraged S&P 500 ETF Is Right for You?" type: "News" locale: "en" url: "https://longbridge.com/en/news/279132664.md" description: "The article compares two leveraged ETFs: SPXL and SSO, which aim to magnify daily returns of the S&P 500. SPXL offers 3x leverage with a slightly lower expense ratio and higher dividend yield, but carries higher risk and potential for greater drawdowns. SSO targets 2x leverage and is considered less risky. Both funds are suitable for short-term trading due to daily leverage resets. Investors should choose based on their risk tolerance, with SPXL being more aggressive and SSO being a safer option for leveraged exposure to the S&P 500." datetime: "2026-03-14T21:05:20.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/279132664.md) - [en](https://longbridge.com/en/news/279132664.md) - [zh-HK](https://longbridge.com/zh-HK/news/279132664.md) --- # SPXL vs. SSO: Which Leveraged S&P 500 ETF Is Right for You? ## Key Points - SPXL carries higher risk and potential return, with a 3x leverage factor compared to SSO’s 2x. - SPXL’s expense ratio is slightly lower, and it also offers a marginally higher dividend yield. - Both funds use daily leverage resets, making them suitable mainly for short-term tactical trading. - 10 stocks we like better than Direxion Shares ETF Trust - Direxion Daily S&P 500 Bull 3x Shares › The **ProShares - Ultra S&P 500 ETF** (NYSEMKT:SSO) and the **Direxion Daily S&P 500 Bull 3X ETF** (NYSEMKT:SPXL) are both designed for investors seeking magnified daily moves of the S&P 500, using derivatives to achieve 2x and 3x daily returns, respectively. This comparison highlights how the two funds stack up in terms of cost, risk, performance, and portfolio makeup for anyone considering leveraged S&P 500 exposure. ## Snapshot (cost & size) Metric SSO SPXL Issuer ProShares Direxion Expense ratio 0.87% 0.84% 1-yr return (as of March 14, 2026) 33.75% 45.08% Dividend yield 0.68% 0.69% Beta (5Y monthly) 2.03 3.09 AUM $6.8 billion $5.6 billion _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._ SPXL has the advantage on fees and income, with a marginally lower expense ratio and higher dividend yield. While these are factors to consider with any investment, they may be less important considerations for short-term trades like leveraged ETFs. ## Performance & risk comparison Metric SSO SPXL Max drawdown (5 y) \-46.73% \-63.80% Growth of $1,000 over 5 years $2,140 $2,367 ## What's inside SPXL is built for aggressive traders, aiming for three times the daily movement of the S&P 500. Its top holdings are in line with the S&P 500, with **Nvidia**, **Apple**, and **Microsoft** rounding out the top three. Like SSO, SPXL resets its leverage daily, which can cause its performance to diverge from the index over longer periods. SSO, meanwhile, uses a similar leveraged strategy but targets 2x daily returns on the S&P 500. Both funds are designed for tactical trading — not long-term buy-and-hold investing — due to the compounding effects of daily leverage resets. For more guidance on ETF investing, check out the full guide at this link. ## What this means for investors Both SSO and SPXL offer leveraged exposure to the S&P 500, increasing earning potential compared to a standard S&P 500 ETF that delivers returns in line with the index. However, they differ significantly in terms of their risk and reward profiles. SPXL aims for triple the daily returns of the S&P 500, while SSO targets double the daily returns. This gives SPXL more potential for lucrative earnings, but it also carries much more risk. Leveraged ETFs function best as very short-term investments. Typically, investors only hold them for a single trading day, or a few days at most. Because both funds reset their leverage daily, longer holds can substantially increase volatility. If the S&P 500 is performing particularly well while you’re holding one of these ETFs, SPXL could maximize those earnings with its 3x daily leverage. But if the index performs poorly, you could see much steeper drawdowns with SPXL than you would with SSO. When choosing between these two ETFs, the deciding factor will likely be how much risk you’re comfortable taking. If you’re willing to take a big swing in hopes of increasing your earning potential, SPXL could be the more lucrative of the two. For those looking to limit risk with a leveraged ETF, SSO could be the better option. ## Should you buy stock in Direxion Shares ETF Trust - Direxion Daily S&P 500 Bull 3x Shares right now? Before you buy stock in Direxion Shares ETF Trust - Direxion Daily S&P 500 Bull 3x Shares, consider this: The _Motley Fool Stock Advisor_ analyst team just identified what they believe are the **10 best stocks** for investors to buy now… and Direxion Shares ETF Trust - Direxion Daily S&P 500 Bull 3x Shares wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when **Netflix** made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, **you’d have $514,000**!\* Or when **Nvidia** made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, **you’d have $1,105,029**!\* Now, it’s worth noting _Stock Advisor’s_ total average return is 930% — a market-crushing outperformance compared to 187% for the S&P 500. **Don't miss the latest top 10 list, available with _Stock Advisor_, and join an investing community built by individual investors for individual investors.** See the 10 stocks » _\*Stock Advisor returns as of March 14, 2026._ _Katie Brockman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple, Microsoft, and Nvidia and is short shares of Apple. The Motley Fool has a disclosure policy._ The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. ### Related Stocks - [SPXL.US](https://longbridge.com/en/quote/SPXL.US.md) - [SSO.US](https://longbridge.com/en/quote/SSO.US.md) - [SPY.US](https://longbridge.com/en/quote/SPY.US.md) - [.SPX.US](https://longbridge.com/en/quote/.SPX.US.md) - [VOO.US](https://longbridge.com/en/quote/VOO.US.md) ## Related News & Research - [Prediction: This unstoppable Vanguard ETF could crush the S&P 500 over the next 10 years](https://longbridge.com/en/news/289458671.md) - [Here's What The SPY ETF's Technical Indicators Suggest](https://longbridge.com/en/news/289967435.md) - [IUX Publishes Analysis of ETF Risk Factors During Periods of Market Volatility](https://longbridge.com/en/news/289416153.md) - [iShares Micro-Cap ETF declares quarterly distribution of $0.5145](https://longbridge.com/en/news/289820304.md) - [VTI vs. VOO — Which Vanguard ETF Is a Stronger Buy Right Now?](https://longbridge.com/en/news/289904476.md)