BULZ vs. SOXL

Last updated Aug 2, 2026

BULZ (MicroSectors FANG & Innovation 3X Leveraged ETNs) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both Leveraged Equities funds - BULZ tracks the Solactive FANG Innovation Index (300%) while SOXL tracks the NYSE Semiconductor Index. Both are passively managed. Over the past 3 years, BULZ returned 52.57%/yr vs 60.01%/yr for SOXL. Their correlation of 0.86 means they have usually moved in the same direction. BULZ charges 0.95%/yr vs 0.75%/yr for SOXL.

Performance

BULZ vs. SOXL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors FANG & Innovation 3X Leveraged ETNs (BULZ) 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, BULZ achieves a 14.01% return, which is significantly lower than SOXL's 172.95% return.

BULZ

• 1D: 1.93%
• 1M: -17.83%
• 6M: 15.82%
• YTD: 14.01%
• 1Y: 74.21%
• 3Y*: 52.57%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.31%

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)
BULZ MicroSectors FANG & Innovation 3X Leveraged ETNs	$23.90M	$29.65M	$44.16M
SOXL Direxion Daily Semiconductor Bull 3X ETF	$10.60B	$10.77B	$11.72B

BULZ vs. SOXL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BULZ MicroSectors FANG & Innovation 3X Leveraged ETNs	14.01%	60.09%	54.09%	394.22%	-92.26%	9.17%
SOXL Direxion Daily Semiconductor Bull 3X ETF	172.95%	54.91%	-12.31%	226.98%	-85.66%	68.13%

Correlation

The correlation between BULZ and SOXL is 0.80, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.80
Correlation (3Y) Balances recent behavior with more history.	0.83
Correlation (All Time) Calculated using the full available price history since Aug 18, 2021	0.86

The correlation between BULZ and SOXL has been stable across timeframes, ranging from 0.80 to 0.86 - a consistent structural relationship.

BULZ vs. SOXL - Sectors Allocation Comparison

Sectors	BULZ	SOXL
Technology	65.0%	100.0%
Communication Services	20.9%	-
Consumer Cyclical	14.2%	-
Financial Services	13.3%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

BULZ vs. SOXL — Risk / Return Rank

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

BULZ

BULZ Risk / Return Rank: 32
BULZ Sharpe Ratio Rank: 28
BULZ Sortino Ratio Rank: 37
BULZ Omega Ratio Rank: 36
BULZ Calmar Ratio Rank: 31
BULZ Martin Ratio Rank: 28

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.

BULZ vs. SOXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors FANG & Innovation 3X Leveraged ETNs (BULZ) 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.

	BULZ	SOXL	Difference
Sharpe ratio: Return per unit of total volatility	0.67	2.77	-2.10
Sortino ratio: Return per unit of downside risk	1.38	2.70	-1.32
Omega ratio: Gain probability vs. loss probability	1.17	1.36	-0.19
Calmar ratio: Return relative to maximum drawdown	1.04	5.22	-4.17
Martin ratio: Return relative to average drawdown	2.36	18.04	-15.68

BULZ vs. SOXL - Sharpe Ratio Comparison

The current BULZ Sharpe Ratio is 0.67, which is lower than the SOXL Sharpe Ratio of 2.77. The chart below compares the historical Sharpe Ratios of BULZ 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.

Drawdowns

BULZ vs. SOXL - Drawdown Comparison

The maximum BULZ drawdown since its inception was -94.44%, roughly equal to the maximum SOXL drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for BULZ and SOXL.

Drawdown Indicators

	BULZ	SOXL	Difference
Max Drawdown Largest peak-to-trough decline	-94.44%	-90.46%	-3.98%
Max Drawdown (1Y) Largest decline over 1 year	-55.29%	-69.42%	+14.13%
Max Drawdown (3Y) Largest decline over 3 years	-67.96%	-87.88%	+19.92%
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	-46.29%	-61.86%	+15.57%
Average Drawdown Average peak-to-trough decline	-57.57%	-35.00%	-22.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.42%	20.04%	+4.38%

Volatility

BULZ vs. SOXL - Volatility Comparison

The current volatility for MicroSectors FANG & Innovation 3X Leveraged ETNs (BULZ) is 31.48%, while Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a volatility of 52.68%. This indicates that BULZ 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

	BULZ	SOXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	31.48%	52.68%	-21.20%
Volatility (6M) Calculated over the trailing 6-month period	70.05%	115.51%	-45.46%
Volatility (1Y) Calculated over the trailing 1-year period	85.72%	130.99%	-45.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	92.08%	113.21%	-21.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	92.08%	102.11%	-10.03%

BULZ vs. SOXL - Expense Ratio Comparison

BULZ has a 0.95% expense ratio, which is higher than SOXL's 0.75% expense ratio.

Dividends

BULZ vs. SOXL - Dividend Comparison

BULZ 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
BULZ MicroSectors FANG & Innovation 3X Leveraged ETNs	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 BULZ and SOXL in my portfolio?

BULZ and SOXL have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BULZ or SOXL?

SOXL has higher volatility (52.68%) compared to BULZ (31.48%). In terms of maximum drawdown, BULZ dropped -94.44% vs SOXL's -90.46%.

Which ETF is better, BULZ or SOXL?

On 3-year performance, SOXL leads with 60.01% vs 52.57% for BULZ. On fees, SOXL is cheaper at 0.75% per year. On volatility, BULZ has been the lower-risk option at 31.48%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BULZ or SOXL?

Over the 3-year period, SOXL has performed better with a 60.01% return vs 52.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BULZ or SOXL?

SOXL is cheaper with a 0.75% expense ratio, compared with 0.95% for BULZ.

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

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

What is the main difference between BULZ and SOXL?

BULZ tracks Solactive FANG Innovation Index (300%), while SOXL tracks NYSE Semiconductor Index. They also come from different issuers: BMO and Direxion. Their fees differ too: 0.95% for BULZ and 0.75% for SOXL.

Which has better risk-adjusted returns?

SOXL currently has the higher Sharpe Ratio (2.77 vs 0.67), 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.