^SPXEWTR vs. SOXL

Last updated Jun 5, 2026

^SPXEWTR (S&P 500 Equal Weighted TR 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, ^SPXEWTR returned 12.09%/yr vs 64.43%/yr for SOXL. A 0.71 correlation means they provide meaningful diversification when combined.

Performance

^SPXEWTR vs. SOXL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in S&P 500 Equal Weighted TR Index (^SPXEWTR) 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, ^SPXEWTR achieves a 10.60% return, which is significantly lower than SOXL's 525.03% return. Over the past 10 years, ^SPXEWTR has underperformed SOXL with an annualized return of 12.09%, while SOXL has yielded a comparatively higher 64.43% annualized return.

^SPXEWTR

• 1D: 0.80%
• 1M: 3.74%
• YTD: 10.60%
• 6M: 11.04%
• 1Y: 20.87%
• 3Y*: 15.86%
• 5Y*: 8.69%
• 10Y*: 12.09%

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)

^SPXEWTR vs. SOXL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
^SPXEWTR S&P 500 Equal Weighted TR Index	10.60%	11.43%	13.01%	13.87%	-11.45%	29.63%	12.83%	29.24%	-7.64%	18.90%
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 ^SPXEWTR and SOXL is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.57
Correlation (5Y) Calculated over the trailing 5-year period	0.66
Correlation (10Y) Calculated over the trailing 10-year period	0.66
Correlation (All Time) Calculated using the full available price history since Mar 12, 2010	0.71

Over the past year, the correlation between ^SPXEWTR and SOXL has dropped to 0.50 - well below their long-term average of 0.71, suggesting their price drivers have been diverging.

Return for Risk

^SPXEWTR vs. SOXL — Risk / Return Rank

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

^SPXEWTR

^SPXEWTR Risk / Return Rank: 65
^SPXEWTR Sharpe Ratio Rank: 63
^SPXEWTR Sortino Ratio Rank: 66
^SPXEWTR Omega Ratio Rank: 61
^SPXEWTR Calmar Ratio Rank: 64
^SPXEWTR Martin Ratio Rank: 69

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.

^SPXEWTR vs. SOXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for S&P 500 Equal Weighted TR Index (^SPXEWTR) 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.

	^SPXEWTR	SOXL	Difference
Sharpe ratio: Return per unit of total volatility	1.81	12.69	-10.88
Sortino ratio: Return per unit of downside risk	2.62	4.98	-2.36
Omega ratio: Gain probability vs. loss probability	1.32	1.69	-0.37
Calmar ratio: Return relative to maximum drawdown	2.67	29.80	-27.13
Martin ratio: Return relative to average drawdown	10.13	102.14	-92.00
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

^SPXEWTR vs. SOXL - Sharpe Ratio Comparison

The current ^SPXEWTR Sharpe Ratio is 1.81, which is lower than the SOXL Sharpe Ratio of 12.69. The chart below compares the historical Sharpe Ratios of ^SPXEWTR 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

	^SPXEWTR	SOXL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.81	12.69	-10.88
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	0.44	+0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.66	0.65	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.61	0.51	+0.10

Drawdowns

^SPXEWTR vs. SOXL - Drawdown Comparison

The maximum ^SPXEWTR drawdown since its inception was -59.47%, smaller than the maximum SOXL drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for ^SPXEWTR and SOXL.

Drawdown Indicators

	^SPXEWTR	SOXL	Difference
Max Drawdown Largest peak-to-trough decline	-59.47%	-90.46%	+30.99%
Max Drawdown (1Y) Largest decline over 1 year	-7.86%	-43.47%	+35.61%
Max Drawdown (3Y) Largest decline over 3 years	-17.74%	-87.88%	+70.14%
Max Drawdown (5Y) Largest decline over 5 years	-21.38%	-90.46%	+69.08%
Max Drawdown (10Y) Largest decline over 10 years	-38.99%	-90.46%	+51.47%
Current Drawdown Current decline from peak	0.00%	-6.36%	+6.36%
Average Drawdown Average peak-to-trough decline	-6.29%	-35.01%	+28.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.06%	12.66%	-10.60%

Volatility

^SPXEWTR vs. SOXL - Volatility Comparison

The current volatility for S&P 500 Equal Weighted TR Index (^SPXEWTR) is 2.60%, while Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a volatility of 41.05%. This indicates that ^SPXEWTR 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

	^SPXEWTR	SOXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.60%	41.05%	-38.45%
Volatility (6M) Calculated over the trailing 6-month period	8.38%	81.57%	-73.19%
Volatility (1Y) Calculated over the trailing 1-year period	11.62%	102.16%	-90.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.25%	107.25%	-91.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.52%	99.05%	-80.53%

Frequently Asked Questions

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

^SPXEWTR and SOXL have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ^SPXEWTR or SOXL?

SOXL has higher volatility (41.05%) compared to ^SPXEWTR (2.60%). In terms of maximum drawdown, ^SPXEWTR dropped -59.47% vs SOXL's -90.46%.

Which has better risk-adjusted returns?

SOXL currently has the higher Sharpe Ratio (12.69 vs 1.81), 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.