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ProShares Ultra S&P500 (SSO) |
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WIKI ANALYSIS
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This article describes an exchange traded fund that tracks an index, commodity, currency, or varied basket of securites. View articles referencing this fund. |
The Proshares Ultra S&P500 (SSO)
Profile:
Proshares Ultra S&P500 (SSO) is an Exchange Traded Fund (ETF) that seeks to mimic the daily investment results, before fees and expenses, corresponding to twice the daily performance of the S&P 500 Index. In other words, if this underlying index declines by 1% for the day, the NAV of SSO will more or less decline by 2%, before fees and expenses. In the same manner, if this underlying index rises by 1% for the day, the NAV of SSO rises by 2% as well.
It's important to remember that leveraged ETFs like SSO are rebalanced each trading day relative to the index they track. So (for example) when someone says "The S&P 500 is up 7% this week," that doesn't tell you very much at all about the performance of SSO or any other leveraged ETF that tracks that index. Nor is this the kind of tracking error that 'evens out' over time; in most circumstances, these divergences will widen over time.
Inception Date: 06/19/06
Fund Information
- Fund Manager - ProShares ETFs
- Inception Date - 06/19/2006
- Exchange – NYSE Arca
- Index Ticker – SSO
- Intra-day NAV Ticker – SSO.IV
- Expense Ratio - 0.95%
Investment Strategy:
The principal investment strategies of this fund include:
- investing in equity securities and financial instruments (including derivatives) that the fund managers believe will produce twice the daily return of the S&P 500 Index.
- committing at least 80% of its net assets to equity securities or financial instruments that have similar economic characteristics contained in the Index.
- employing leveraged investment techniques or sampling techniques in seeking its investment objective.
- assets not invested in equity securities or financial instruments are invested in debt securities or money market instruments.
- concentrating its investments in a particular industry to approximately the same extent as the Index
Annual Fund Operating Expenses:
| Investment Advisory Fee: | 0.75% |
| Distribution and Service (12b-1) Fee: | 0.00% |
| Other Expenses: | 0.23% |
| Total Annual Fund Operating Expenses: | 0.98% |
| Fee Waivers / Reimbursements: | -0.03% |
| Total Net Annual Fund Operating Expenses: | 0.95% |
Top 10 Holdings: (As of February 26, 2009)
| Company | Weight |
|---|---|
| Exxon Mobil Corp. | 5.51% |
| Proctor and Gamble | 2.23% |
| Johnson and Johnson | 2.22% |
| AT&T Inc. | 2.17% |
| Chevron Corp. | 1.96% |
| Microsoft Corp. | 1.92% |
| International Business Machines | 1.82% |
| Walmart Stores Inc. | 1.65% |
| General Electric | 1.46% |
| JP Morgan Chase | 1.31% |
Other S&P 500 ETFs
| ETF Name | Fund Manager | Expense Ratio |
| CBOE S&P 500 BuyWrite Index ETN (BWV) | Barclays Bank | 0.75% |
| S&P 500 BuyWrite Portfolio ETF (PBP) | Invesco PowerShares | 0.75% |
| iShares S&P 500 Growth Index Fund (IVW) | ishares | 0.18% |
| iShares S&P 500 Index Fund (IVV) | ishares | 0.09% |
| iShares S&P 500 Value Index Fund (IVE) | ishares | 0.18% |
| ProShares Short S&P 500 ETF (SH) | InvescoPoweshares | 0.95% |
| ProShares Ultra S&P 500 ETF (SSO) | InvescoPoweshares | 0.95% |
| ProShares UltraShort S&P 500 ETF (SDS) | ProShares ETFs | 0.91% |
| ProShares UltraShort S&P 500 ETF (SDS) | ProShares ETFs | 0.91% |
| Rydex 2x S&P 500 ETF (RSU) | Rydex ETF Trust | 0.70% |
| Rydex Inverse 2x S&P 500 ETF (RSW) | Rydex ETF Trust | 0.70% |
| Rydex Inverse 2x S&P 500 ETF (RSW) | Rydex ETF Trust | 0.70% |
| Rydex S&P 500 Pure Growth ETF (RPG) | Rydex ETF Trust | 0.35% |
| Rydex S&P 500 Pure Value ETF (RPV) | Rydex ETF Trust | 0.35% |
| SPDR S&P 500 ETF (SPY) | State Street Global Markets, LLC | 0.10% |
| iShares S&P 500 ETF (IUSA-LSE) | iShares | 0.40% |
Reference:
Company Website: http://www.proshares.com
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