Investors can also bet on leveraged S&P 500 ETFs like Direxion Daily S&P 500 Bull 3X Shares SPXL, ProShares Ultra S&P500 SSO and ProShares UltraPro S&P500 UPRO while the index is on an uptrend. ProShares UltraPro S&P500 (UPRO): ETF Research Reports Heightened rising rate worries amid super-hawkish Fed cues, red-hot inflation, supply chain woes and the Russia-Ukraine war have dampened Wall Street this year.