^SP100 vs. SOXL

Last updated Jun 5, 2026

^SP100 (S&P 100 Index) is an index, while SOXL (Direxion Daily Semiconductor Bull 3X ETF) is Leveraged Equities fund tracking the ICE Semiconductor Index. Over the past 10 years, ^SP100 returned 14.96%/yr vs 64.43%/yr for SOXL. A 0.76 correlation means they provide meaningful diversification when combined.

Performance

^SP100 vs. SOXL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in S&P 100 Index (^SP100) and Direxion Daily Semiconductor Bull 3X ETF (SOXL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ^SP100 achieves a 9.46% return, which is significantly lower than SOXL's 525.03% return. Over the past 10 years, ^SP100 has underperformed SOXL with an annualized return of 14.96%, while SOXL has yielded a comparatively higher 64.43% annualized return.

^SP100

• 1D: 0.35%
• 1M: 4.77%
• YTD: 9.46%
• 6M: 9.14%
• 1Y: 28.71%
• 3Y*: 23.43%
• 5Y*: 14.42%
• 10Y*: 14.96%

SOXL

• 1D: -6.36%
• 1M: 82.23%
• YTD: 525.03%
• 6M: 481.71%
• 1Y: 1,280.87%
• 3Y*: 133.82%
• 5Y*: 46.78%
• 10Y*: 64.43%

*Multi-year figures are annualized to reflect compound growth (CAGR)

^SP100 vs. SOXL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
^SP100 S&P 100 Index	9.46%	18.76%	29.25%	30.83%	-22.12%	27.55%	19.30%	29.47%	-5.86%	19.34%
SOXL Direxion Daily Semiconductor Bull 3X ETF	525.03%	54.91%	-12.31%	226.98%	-85.66%	118.84%	70.04%	231.83%	-39.07%	141.71%

Correlation

The correlation between ^SP100 and SOXL is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.74
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (10Y) Calculated over the trailing 10-year period	0.76
Correlation (All Time) Calculated using the full available price history since Mar 12, 2010	0.76

The correlation between ^SP100 and SOXL shifts across timeframes, from 0.68 (1 year) to 0.79 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

^SP100 vs. SOXL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

^SP100

^SP100 Risk / Return Rank: 73
^SP100 Sharpe Ratio Rank: 78
^SP100 Sortino Ratio Rank: 78
^SP100 Omega Ratio Rank: 78
^SP100 Calmar Ratio Rank: 62
^SP100 Martin Ratio Rank: 71

SOXL

SOXL Risk / Return Rank: 97
SOXL Sharpe Ratio Rank: 100
SOXL Sortino Ratio Rank: 95
SOXL Omega Ratio Rank: 94
SOXL Calmar Ratio Rank: 99
SOXL Martin Ratio Rank: 99

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

^SP100 vs. SOXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for S&P 100 Index (^SP100) and Direxion Daily Semiconductor Bull 3X ETF (SOXL). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	^SP100	SOXL	Difference
Sharpe ratio: Return per unit of total volatility	2.27	12.69	-10.41
Sortino ratio: Return per unit of downside risk	3.10	4.98	-1.87
Omega ratio: Gain probability vs. loss probability	1.41	1.69	-0.28
Calmar ratio: Return relative to maximum drawdown	2.55	29.80	-27.24
Martin ratio: Return relative to average drawdown	10.65	102.14	-91.49
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

^SP100 vs. SOXL - Sharpe Ratio Comparison

The current ^SP100 Sharpe Ratio is 2.27, which is lower than the SOXL Sharpe Ratio of 12.69. The chart below compares the historical Sharpe Ratios of ^SP100 and SOXL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	^SP100	SOXL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.27	12.69	-10.41
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.82	0.44	+0.38
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.81	0.65	+0.16
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.51	+0.04

Drawdowns

^SP100 vs. SOXL - Drawdown Comparison

The maximum ^SP100 drawdown since its inception was -61.31%, smaller than the maximum SOXL drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for ^SP100 and SOXL.

Drawdown Indicators

	^SP100	SOXL	Difference
Max Drawdown Largest peak-to-trough decline	-61.31%	-90.46%	+29.15%
Max Drawdown (1Y) Largest decline over 1 year	-11.30%	-43.47%	+32.17%
Max Drawdown (3Y) Largest decline over 3 years	-19.89%	-87.88%	+67.99%
Max Drawdown (5Y) Largest decline over 5 years	-27.23%	-90.46%	+63.23%
Max Drawdown (10Y) Largest decline over 10 years	-31.53%	-90.46%	+58.93%
Current Drawdown Current decline from peak	-0.68%	-6.36%	+5.68%
Average Drawdown Average peak-to-trough decline	-12.67%	-35.01%	+22.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.70%	12.66%	-9.96%

Volatility

^SP100 vs. SOXL - Volatility Comparison

The current volatility for S&P 100 Index (^SP100) is 3.23%, while Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a volatility of 41.05%. This indicates that ^SP100 experiences smaller price fluctuations and is considered to be less risky than SOXL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	^SP100	SOXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.23%	41.05%	-37.82%
Volatility (6M) Calculated over the trailing 6-month period	9.52%	81.57%	-72.05%
Volatility (1Y) Calculated over the trailing 1-year period	12.68%	102.16%	-89.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.75%	107.25%	-89.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.47%	99.05%	-80.58%

Frequently Asked Questions

Can I hold both ^SP100 and SOXL in my portfolio?

^SP100 and SOXL have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ^SP100 or SOXL?

SOXL has higher volatility (41.05%) compared to ^SP100 (3.23%). In terms of maximum drawdown, ^SP100 dropped -61.31% vs SOXL's -90.46%.

Which has better risk-adjusted returns?

SOXL currently has the higher Sharpe Ratio (12.69 vs 2.27), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.