2MU.L vs. SOXL.L
2MU.L (Leverage Shares 2x Micron Technology ETC GBP) and SOXL.L (Leverage Shares 4x Long Semiconductors ETP Securities) are both Leveraged Equities funds from Leverage Shares - 2MU.L tracks the iSTOXX Leveraged 2X MU Index while SOXL.L tracks the NYSE Semiconductor Index. Both are passively managed. Over the past year, 2MU.L returned 6514.91% vs 2653.70% for SOXL.L. A 0.71 correlation means they provide meaningful diversification when combined. Both charge a 0.75% expense ratio.
Performance
2MU.L vs. SOXL.L - Performance Comparison
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Different Trading Currencies
2MU.L is traded in GBp, while SOXL.L is traded in USD. To make them comparable, the SOXL.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
The year-to-date returns for both investments are quite close, with 2MU.L having a 890.70% return and SOXL.L slightly higher at 899.20%.
2MU.L
- 1D
- 3.90%
- 1M
- 267.24%
- YTD
- 890.70%
- 6M
- 1,363.92%
- 1Y
- 6,514.91%
- 3Y*
- 298.47%
- 5Y*
- 99.54%
- 10Y*
- —
SOXL.L
- 1D
- 10.30%
- 1M
- 171.10%
- YTD
- 899.20%
- 6M
- 827.56%
- 1Y
- 2,653.70%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
2MU.L vs. SOXL.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
2MU.L Leverage Shares 2x Micron Technology ETC GBP | 890.70% | 550.25% | -60.83% |
SOXL.L Leverage Shares 4x Long Semiconductors ETP Securities | 899.20% | 3.47% | -59.63% |
Correlation
The correlation between 2MU.L and SOXL.L is 0.70, 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 | 0.70 |
Correlation (All Time) Calculated using the full available price history since Mar 27, 2024 | 0.71 |
The correlation between 2MU.L and SOXL.L has been stable across timeframes, ranging from 0.70 to 0.71 - a consistent structural relationship.
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Return for Risk
2MU.L vs. SOXL.L — Risk / Return Rank
2MU.L
SOXL.L
2MU.L vs. SOXL.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2x Micron Technology ETC GBP (2MU.L) and Leverage Shares 4x Long Semiconductors ETP Securities (SOXL.L). 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.
| 2MU.L | SOXL.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +30.87 | ||
| Sortino ratioReturn per unit of downside risk | +2.24 | ||
| Omega ratioGain probability vs. loss probability | 1.95 | 1.67 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 120.42 | 51.76 | +68.66 |
| Martin ratioReturn relative to average drawdown | 429.29 | 154.68 | +274.62 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| 2MU.L | SOXL.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 50.34 | 19.47 | +30.87 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.95 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.99 | 0.68 | +0.32 |
Drawdowns
2MU.L vs. SOXL.L - Drawdown Comparison
The maximum 2MU.L drawdown since its inception was -89.16%, smaller than the maximum SOXL.L drawdown of -95.81%. Use the drawdown chart below to compare losses from any high point for 2MU.L and SOXL.L.
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Drawdown Indicators
| 2MU.L | SOXL.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.16% | -95.81% | +6.65% |
Max Drawdown (1Y)Largest decline over 1 year | -53.20% | -50.58% | -2.62% |
Max Drawdown (3Y)Largest decline over 3 years | -89.16% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -89.16% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -44.86% | -61.47% | +16.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.95% | 16.96% | -2.01% |
Volatility
2MU.L vs. SOXL.L - Volatility Comparison
Leverage Shares 2x Micron Technology ETC GBP (2MU.L) and Leverage Shares 4x Long Semiconductors ETP Securities (SOXL.L) have volatilities of 53.51% and 56.22%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 2MU.L | SOXL.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 53.51% | 56.22% | -2.71% |
Volatility (6M)Calculated over the trailing 6-month period | 96.13% | 102.58% | -6.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 127.53% | 134.94% | -7.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 104.70% | 136.49% | -31.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 100.80% | 136.49% | -35.69% |
2MU.L vs. SOXL.L - Expense Ratio Comparison
Both 2MU.L and SOXL.L have an expense ratio of 0.75%.
Dividends
2MU.L vs. SOXL.L - Dividend Comparison
Neither 2MU.L nor SOXL.L has paid dividends to shareholders.
Frequently Asked Questions
2MU.L and SOXL.L have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.75% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
2MU.L and SOXL.L have the same expense ratio: 0.75% per year.
2MU.L tracks iSTOXX Leveraged 2X MU Index, while SOXL.L tracks NYSE Semiconductor Index.
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