ProShares Ultra S&P500 drawdown: 4.5% below the all-time high (price)
ProShares Ultra S&P500 is 4.5% below its all-time high, set Aug 13, 2026 (as of market close, Oct 16, 2026), measured on price alone — dividends are not included, the convention headlines and crash histories use. The chart shows every day as a percentage of the highest level reached up to that point: 100% means a fresh record, everything below is a drawdown.
- Below all-time high
- −4.5%
- 95.5% of ATH
- All-time high
- $72.52
- Aug 13, 2026
- Time below the high
- 2 mo
- since Aug 13, 2026
- Worst-ever drawdown
- −85.5%
- Mar 9, 2009
- Longest underwater
- 6.4 yrs
- between all-time highs
- Today's level first reached
- May 29, 2026
- 5 mo ago
- Last time this deep
- Jul 30, 2026
- in a previous episode
% of all-time high since 2006: price#
The classic underwater chart (drawdown curve), drawn as % of the all-time high — 100% is a fresh record, everything below it is time spent underwater. Basis and range are in the URL, so a particular view is a link.
The deepest drawdowns on record#
Every decline of 15% or more from an all-time high (price basis), deepest first.
| Peak | Trough | Depth | Peak → trough | Recovered by | Underwater |
|---|---|---|---|---|---|
| Jul 13, 2007 | Mar 9, 2009 | −85.5% | 1.7 yrs | Dec 23, 2013 | 6.4 yrs |
| Feb 19, 2020 | Mar 23, 2020 | −59.3% | 33 days | Sep 2, 2020 | 6 mo |
| Jan 3, 2022 | Oct 12, 2022 | −46.8% | 9 mo | Mar 1, 2024 | 2.2 yrs |
| Sep 20, 2018 | Dec 24, 2018 | −36.6% | 3 mo | Jul 3, 2019 | 9 mo |
| Feb 19, 2025 | Apr 8, 2025 | −35.3% | 48 days | Jul 17, 2025 | 5 mo |
| May 21, 2015 | Feb 11, 2016 | −27.0% | 9 mo | Jul 12, 2016 | 14 mo |
| Jan 26, 2018 | Apr 2, 2018 | −19.9% | 2 mo | Aug 27, 2018 | 7 mo |
| Sep 2, 2020 | Sep 23, 2020 | −18.4% | 21 days | Nov 16, 2020 | 2 mo |
Price basis (no dividends) — the convention crash histories use. With dividends reinvested, recoveries arrive years earlier; switch the basis on the chart above to see it.
Drawdown vs what came next#
One dot per month since 2006: how far ProShares Ultra S&P500 stood below its all-time high, and the total return over the following 1, 5 and 10 years.
Read this with survivorship bias in mind: a single asset's history is one surviving sample, so past recoveries here say little about the odds ahead. Monthly windows also overlap heavily (they are not independent samples). Not investment advice.
FAQ#
- How far is ProShares Ultra S&P500 from its all-time high?
- ProShares Ultra S&P500 is currently 4.5% below its all-time high, set Aug 13, 2026 (as of market close, Oct 16, 2026). Prices only, the convention headlines use; with dividends reinvested the gap is usually smaller.
- What was the biggest ProShares Ultra S&P500 drawdown ever?
- The deepest decline on record in our data (since 2006) took ProShares Ultra S&P500 85.5% below its prior high, bottoming Mar 9, 2009. The table on this page lists every major episode with its peak, trough and recovery date.
Methodology & related#
Daily data since -1 from SSO; no free deep history exists for ProShares Ultra S&P500 — for a 150-year drawdown record see the S&P 500 drawdown page. The price basis excludes dividends; the total-return basis reinvests them; the real basis additionally deflates by CPI. See also returns by year. Past performance does not predict future returns; not investment advice.