ProShares Ultra S&P500 (SSO) Valuation

NYSE Arca: SSOP/E, earnings yield and other ratios of the holdings combined.

SSO valuation today

Holdings combined · company data as of Oct 26, 2026

P/E (TTM): 25.8
Forward P/E: 19.8
Price / sales: 3.62
Price / book: 5.42
EV / EBITDA: 17.2
Earnings yield: 3.88%
Dividend yield: 1.10%
Return on equity: 21.0%
Net margin: 14.1%
Beta: 1.15

SSO valuation vs other stock ETFs

P/E (TTM)Forward P/E

SSO valuation compared with other stock ETFs
ETF	P/E	Fwd P/E	P/S	P/B	Div. yield	ROE	Net margin	Loss-makers
SSO	25.8	19.8	3.62	5.42	1.10%	21.0%	14.1%	1.8%
SPY	25.9	19.9	3.67	5.47	1.08%	21.1%	14.2%	1.9%
QQQ	34.2	23.4	5.93	9.27	0.58%	27.1%	17.4%	6.9%
DIA	20.9	18.4	3.16	5.52	1.55%	26.4%	15.1%	0.0%
VTI	28.2	19.4	3.31	5.00	1.07%	17.7%	11.8%	4.6%
IWM	n/m	13.9	1.25	2.03	1.38%	−1.7%	−1.0%	28.1%

Same method for every fund. n/m = not meaningful (combined trailing earnings below zero or close to it). Loss-makers = weight of holdings with negative trailing earnings.

SSO valuation by sector

P/E (TTM)Forward P/E

SSO valuation by sector
Sector	Weight	P/E	Fwd P/E	P/S	P/B	Div. yield	ROE
Technology	26.9%	32.2	23.3	9.15	12.51	0.56%	38.9%
Financial Services	8.1%	15.9	14.6	3.46	2.39	1.50%	15.0%
Healthcare	6.9%	37.5	17.5	1.74	5.23	1.51%	14.0%
Communication Services	6.4%	18.0	18.8	4.87	4.99	0.70%	27.7%
Consumer Cyclical	6.2%	27.3	23.1	2.67	6.46	0.75%	23.6%
Industrials	4.7%	28.0	21.6	2.74	6.26	1.22%	22.4%
Consumer Defensive	3.3%	29.0	21.4	1.72	6.87	2.36%	23.7%
Energy	2.6%	19.8	12.9	1.86	2.52	2.30%	12.8%
Utilities	1.4%	19.0	15.4	2.74	2.07	3.03%	10.8%
Real Estate	1.2%	34.7	32.1	6.27	3.12	3.37%	9.0%
Basic Materials	1.1%	31.2	17.1	2.91	3.82	1.38%	12.2%

SSO earnings yield vs bond yields

SSO earnings yield (forward)

5.06%

SSO earnings yield (trailing)

3.88%

SSO dividend yield

1.10%

Bond market yield (AGG)

5.33%

T-bill yield (BIL)

3.91%

Earnings yield = earnings ÷ price (1 ÷ P/E). The gap to bond yields is a rough gauge of the extra return stocks are priced to deliver.

How SSO weight splits by P/E

Share of the covered weight in companies with a trailing P/E in each range.

SSO largest holdings: valuation

SSO largest holdings valuation
Symbol	Company	Weight	P/E	Fwd P/E	P/S	Div. yield	Share of earnings
IQMM	Proshares Genius Money Market ETF	14.56%	—	—	—	—	—
NVDA	NVIDIA Corporation	5.60%	27.1	24.9	17.1	0.47%	7.77%
AAPL	Apple Inc.	5.42%	39.4	35.2	10.7	0.31%	5.16%
MSFT	Microsoft Corporation	4.15%	29.5	25.1	11.8	0.74%	5.29%
AMZN	Amazon.com, Inc.	2.48%	20.1	23.6	3.5	—	4.63%
GOOGL	Alphabet Inc.	2.03%	17.1	22.8	9.3	0.26%	4.46%
GOOG	Alphabet Inc.	1.65%	16.9	21.8	9.2	0.26%	3.66%
AVGO	Broadcom Inc.	1.62%	43.3	19.4	17.6	0.79%	1.40%
META	Meta Platforms, Inc.	1.44%	26.7	22.1	7.9	0.30%	2.02%
TSLA	Tesla, Inc.	1.12%	328.4	158.7	13.5	—	0.13%
LLY	Eli Lilly and Company	1.10%	42.2	24.4	14.1	0.55%	0.98%
BRK.B	Berkshire Hathaway Inc.	1.04%	13.4	22.7	3.0	—	2.91%
MU	Micron Technology, Inc.	1.03%	11.8	7.0	7.5	0.07%	3.28%
JPM	JPMorgan Chase & Co.	0.90%	14.2	13.5	4.7	1.94%	2.36%
AMD	Advanced Micro Devices, Inc.	0.87%	134.9	39.5	20.9	—	0.24%
XOM	Exxon Mobil Corporation	0.80%	23.0	14.8	2.0	2.30%	1.30%
V	Visa Inc.	0.72%	34.3	24.0	17.0	0.67%	0.79%
JNJ	Johnson & Johnson	0.65%	38.8	21.0	6.2	2.10%	0.63%
MA	Mastercard Incorporated	0.56%	34.0	24.2	15.4	0.56%	0.62%
ABBV	AbbVie Inc.	0.55%	80.6	16.4	7.8	2.42%	0.26%
WMT	Walmart Inc.	0.54%	43.0	38.0	1.3	0.83%	0.47%
CVX	Chevron Corporation	0.48%	21.2	15.2	2.1	3.16%	0.84%
COST	Costco Wholesale Corporation	0.46%	47.6	40.3	1.4	0.59%	0.37%
PLTR	Palantir Technologies Inc.	0.46%	160.4	85.5	72.6	—	0.11%
INTC	Intel Corporation	0.45%	—	63.3	8.3	—	−0.40%

Share of earnings = the holding's part of the fund's combined trailing profit. Green: earns more than its weight; orange: less. Symbol links go to each company's key metrics.

About SSO valuation

Adding up its 497 holdings with company data, SSO trades at 25.8 times trailing earnings and 19.8 times analysts' forward estimates, with a price-to-book ratio of 5.42 and a dividend yield of 1.10%. Its earnings yield of 3.88% is 1.45 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).

The ten largest holdings are 40.1% of the fund and earn 35.5% of its combined profit. By sector, Healthcare is the most expensive at 37.5 times earnings and Financial Services the cheapest at 15.9. Companies that lost money over the past year are 1.8% of the covered weight.

How these figures are calculated. Each ratio treats the fund as one company: the earnings, sales and book value of every holding are added up in proportion to its weight and divided into the fund's price. In practice that is a weighted harmonic mean, so a single stock with a very high P/E cannot distort the result, and loss-making companies reduce the fund's earnings instead of being dropped. Covers 82.0% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.

SSO valuation FAQ

What is the P/E ratio of SSO?

Based on its holdings, SSO has a trailing P/E of 25.8 and a forward P/E of 19.8 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).

What is the earnings yield of SSO?

The trailing earnings yield is 3.88% (1 ÷ P/E) and the forward earnings yield 5.06%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.

Is SSO more expensive than the S&P 500?

SSO trades at 25.8 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 19.8 and 19.9.

What is the price-to-book ratio of SSO?

The holdings of SSO trade at 5.42 times book value, with a combined return on equity of 21.0%.

Which sector in SSO has the highest P/E?

Healthcare has the highest P/E at 37.5 and Financial Services the lowest at 15.9.