AAOX vs. SOXL

Last updated Aug 1, 2026

AAOX (Tradr 2X Long AAOI Daily ETF) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both Leveraged Equities funds - AAOX tracks the Applied Optoelectronics, Inc. (AAOI) while SOXL tracks the NYSE Semiconductor Index. Both are passively managed. Their 0.57 correlation means they have sometimes moved together and sometimes differently. AAOX charges 1.49%/yr vs 0.75%/yr for SOXL.

Performance

AAOX vs. SOXL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tradr 2X Long AAOI Daily ETF (AAOX) and Direxion Daily Semiconductor Bull 3X ETF (SOXL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

AAOX

• 1D: 9.47%
• 1M: -48.97%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

SOXL

• 1D: 0.00%
• 1M: -36.78%
• 6M: 85.66%
• YTD: 172.95%
• 1Y: 376.55%
• 3Y*: 60.01%
• 5Y*: 21.65%
• 10Y*: 48.63%
• ALL TIME*: 38.01%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AAOX Tradr 2X Long AAOI Daily ETF	$74.06M	$85.47M	$246.24M
SOXL Direxion Daily Semiconductor Bull 3X ETF	$10.60B	$10.77B	$11.72B

AAOX vs. SOXL - Yearly Performance Comparison

	2026 (YTD)
AAOX Tradr 2X Long AAOI Daily ETF	-59.23%
SOXL Direxion Daily Semiconductor Bull 3X ETF	116.33%

Correlation

The correlation between AAOX and SOXL is 0.57, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 24, 2026	0.57

Return for Risk

AAOX vs. SOXL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

AAOX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

SOXL

SOXL Risk / Return Rank: 90
SOXL Sharpe Ratio Rank: 95
SOXL Sortino Ratio Rank: 83
SOXL Omega Ratio Rank: 85
SOXL Calmar Ratio Rank: 95
SOXL Martin Ratio Rank: 94

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

AAOX vs. SOXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tradr 2X Long AAOI Daily ETF (AAOX) 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AAOX	SOXL	Difference
Sharpe ratio: Return per unit of total volatility	—	2.77	—
Sortino ratio: Return per unit of downside risk	—	2.70	—
Omega ratio: Gain probability vs. loss probability	—	1.36	—
Calmar ratio: Return relative to maximum drawdown	—	5.22	—
Martin ratio: Return relative to average drawdown	—	18.04	—

Drawdowns

AAOX vs. SOXL - Drawdown Comparison

The maximum AAOX drawdown since its inception was -92.64%, roughly equal to the maximum SOXL drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for AAOX and SOXL.

Drawdown Indicators

	AAOX	SOXL	Difference
Max Drawdown Largest peak-to-trough decline	-92.64%	-90.46%	-2.18%
Max Drawdown (1Y) Largest decline over 1 year	—	-69.42%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-87.88%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-90.46%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-90.46%	—
Current Drawdown Current decline from peak	-89.09%	-61.86%	-27.23%
Average Drawdown Average peak-to-trough decline	-42.84%	-35.00%	-7.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	20.04%	—

Volatility

Volatility by Period

	AAOX	SOXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	52.68%	—
Volatility (6M) Calculated over the trailing 6-month period	—	115.51%	—
Volatility (1Y) Calculated over the trailing 1-year period	294.73%	130.99%	+163.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	294.73%	113.21%	+181.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	294.73%	102.11%	+192.62%

AAOX vs. SOXL - Expense Ratio Comparison

AAOX has a 1.49% expense ratio, which is higher than SOXL's 0.75% expense ratio.

Dividends

AAOX vs. SOXL - Dividend Comparison

AAOX has not paid dividends to shareholders, while SOXL's dividend yield for the trailing twelve months is around 0.01%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
AAOX Tradr 2X Long AAOI Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SOXL Direxion Daily Semiconductor Bull 3X ETF	0.01%	0.34%	1.18%	0.51%	1.07%	0.04%	0.05%	0.38%	1.30%	0.09%	4.84%

Frequently Asked Questions

Can I hold both AAOX and SOXL in my portfolio?

AAOX and SOXL have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AAOX or SOXL?

On fees, SOXL is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AAOX or SOXL?

SOXL is cheaper with a 0.75% expense ratio, compared with 1.49% for AAOX.

Which ETF pays a higher dividend yield, AAOX or SOXL?

SOXL has the higher dividend yield at 0.01%, compared with 0.00% for AAOX.

What is the main difference between AAOX and SOXL?

AAOX tracks Applied Optoelectronics, Inc. (AAOI), while SOXL tracks NYSE Semiconductor Index. They also come from different issuers: Tradr and Direxion. Their fees differ too: 1.49% for AAOX and 0.75% for SOXL.