^SP100 vs. SOXL

Last updated Apr 2, 2026

Compare and contrast key facts about S&P 100 Index (^SP100) and Direxion Daily Semiconductor Bull 3x Shares (SOXL).

SOXL is a passively managed fund by Direxion that tracks the performance of the PHLX Semiconductor Index (300%). It was launched on Mar 11, 2010.

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 Shares (SOXL). The values are adjusted to include any dividend payments, if applicable.

^SP100 vs. SOXL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
^SP100 S&P 100 Index	-6.49%	18.76%	29.25%	30.83%	-22.12%	27.55%	19.30%	29.47%	-5.86%	19.34%
SOXL Direxion Daily Semiconductor Bull 3x Shares	24.34%	54.91%	-12.31%	226.98%	-85.66%	118.84%	70.04%	231.83%	-39.07%	141.71%

Returns By Period

In the year-to-date period, ^SP100 achieves a -6.49% return, which is significantly lower than SOXL's 24.34% return. Over the past 10 years, ^SP100 has underperformed SOXL with an annualized return of 13.32%, while SOXL has yielded a comparatively higher 41.10% annualized return.

^SP100

• 1D: 0.73%
• 1M: -4.22%
• YTD: -6.49%
• 6M: -4.06%
• 1Y: 17.96%
• 3Y*: 19.64%
• 5Y*: 11.98%
• 10Y*: 13.32%

SOXL

• 1D: 9.08%
• 1M: -16.73%
• YTD: 24.34%
• 6M: 41.78%
• 1Y: 228.78%
• 3Y*: 42.83%
• 5Y*: 4.90%
• 10Y*: 41.10%

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

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: 66
^SP100 Sharpe Ratio Rank: 63
^SP100 Sortino Ratio Rank: 65
^SP100 Omega Ratio Rank: 69
^SP100 Calmar Ratio Rank: 65
^SP100 Martin Ratio Rank: 69

SOXL

SOXL Risk / Return Rank: 90
SOXL Sharpe Ratio Rank: 89
SOXL Sortino Ratio Rank: 88
SOXL Omega Ratio Rank: 86
SOXL Calmar Ratio Rank: 96
SOXL Martin Ratio Rank: 93

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 Shares (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	0.93	1.93	-0.99
Sortino ratio Return per unit of downside risk	1.46	2.46	-1.00
Omega ratio Gain probability vs. loss probability	1.22	1.35	-0.13
Calmar ratio Return relative to maximum drawdown	1.53	4.64	-3.12
Martin ratio Return relative to average drawdown	5.98	14.09	-8.12
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 0.93, which is lower than the SOXL Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of ^SP100 and SOXL, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	^SP100	SOXL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.93	1.93	-0.99
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.68	0.05	+0.63
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.72	0.42	+0.30
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.36	+0.17

Correlation

The correlation between ^SP100 and SOXL is 0.76, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

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	-12.08%	-49.26%	+37.18%
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	-7.80%	-27.28%	+19.48%
Average Drawdown Average peak-to-trough decline	-12.71%	-35.34%	+22.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.09%	16.23%	-13.14%

Volatility

^SP100 vs. SOXL - Volatility Comparison

The current volatility for S&P 100 Index (^SP100) is 5.63%, while Direxion Daily Semiconductor Bull 3x Shares (SOXL) has a volatility of 38.35%. 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	5.63%	38.35%	-32.72%
Volatility (6M) Calculated over the trailing 6-month period	10.07%	79.93%	-69.86%
Volatility (1Y) Calculated over the trailing 1-year period	19.34%	119.50%	-100.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.74%	105.40%	-87.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.44%	97.72%	-79.28%