BZQ vs. SOXL
BZQ (ProShares UltraShort MSCI Brazil Capped) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both Leveraged Equities funds - BZQ tracks the MSCI Brazil 25-50 (-200%) while SOXL tracks the ICE Semiconductor Index. Both are passively managed. Over the past 10 years, BZQ returned -34.79%/yr vs 56.08%/yr for SOXL. At a correlation of -0.40, they often move in opposite directions. BZQ charges 0.95%/yr vs 0.75%/yr for SOXL.
Performance
BZQ vs. SOXL - Performance Comparison
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Returns By Period
In the year-to-date period, BZQ achieves a -26.91% return, which is significantly lower than SOXL's 293.46% return. Over the past 10 years, BZQ has underperformed SOXL with an annualized return of -34.79%, while SOXL has yielded a comparatively higher 56.08% annualized return.
BZQ
- 1D
- 3.03%
- 1M
- -3.96%
- 6M
- -21.76%
- YTD
- -26.91%
- 1Y
- -49.86%
- 3Y*
- -22.15%
- 5Y*
- -23.23%
- 10Y*
- -34.79%
SOXL
- 1D
- -13.99%
- 1M
- -29.53%
- 6M
- 202.60%
- YTD
- 293.46%
- 1Y
- 506.15%
- 3Y*
- 85.89%
- 5Y*
- 32.23%
- 10Y*
- 56.08%
BZQ vs. SOXL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BZQ ProShares UltraShort MSCI Brazil Capped | -26.91% | -57.90% | 98.84% | -49.11% | -44.20% | 6.45% | -52.88% | -48.20% | -21.52% | -49.73% |
SOXL Direxion Daily Semiconductor Bull 3X ETF | 293.46% | 54.91% | -12.31% | 226.98% | -85.66% | 118.84% | 70.04% | 231.83% | -39.07% | 141.71% |
Correlation
The correlation between BZQ and SOXL is -0.37, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.32 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.30 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.35 |
Correlation (All Time) Calculated using the full available price history since Mar 11, 2010 | -0.40 |
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Return for Risk
BZQ vs. SOXL — Risk / Return Rank
BZQ
SOXL
BZQ vs. SOXL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort MSCI Brazil Capped (BZQ) 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.
| BZQ | SOXL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -5.13 | ||
| Sortino ratioReturn per unit of downside risk | -4.67 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.43 | -0.60 |
| Calmar ratioReturn relative to maximum drawdown | -0.77 | 11.33 | -12.10 |
| Martin ratioReturn relative to average drawdown | -1.16 | 32.97 | -34.13 |
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Drawdowns
BZQ vs. SOXL - Drawdown Comparison
The maximum BZQ drawdown since its inception was -99.82%, which is greater than SOXL's maximum drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for BZQ and SOXL.
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Drawdown Indicators
| BZQ | SOXL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.82% | -90.46% | -9.36% |
Max Drawdown (1Y)Largest decline over 1 year | -65.20% | -45.05% | -20.15% |
Max Drawdown (3Y)Largest decline over 3 years | -77.31% | -87.88% | +10.57% |
Max Drawdown (5Y)Largest decline over 5 years | -88.65% | -90.46% | +1.81% |
Max Drawdown (10Y)Largest decline over 10 years | -98.96% | -90.46% | -8.50% |
Current DrawdownCurrent decline from peak | -99.76% | -45.02% | -54.74% |
Average DrawdownAverage peak-to-trough decline | -84.60% | -34.94% | -49.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 43.07% | 15.45% | +27.62% |
Volatility
BZQ vs. SOXL - Volatility Comparison
The current volatility for ProShares UltraShort MSCI Brazil Capped (BZQ) is 12.15%, while Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a volatility of 65.64%. This indicates that BZQ 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.
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Volatility by Period
| BZQ | SOXL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.15% | 65.64% | -53.49% |
Volatility (6M)Calculated over the trailing 6-month period | 39.67% | 108.34% | -68.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 49.84% | 123.98% | -74.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 55.14% | 111.84% | -56.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 66.57% | 101.32% | -34.75% |
BZQ vs. SOXL - Expense Ratio Comparison
BZQ has a 0.95% expense ratio, which is higher than SOXL's 0.75% expense ratio.
Dividends
BZQ vs. SOXL - Dividend Comparison
BZQ's dividend yield for the trailing twelve months is around 7.55%, more than SOXL's 0.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
BZQ ProShares UltraShort MSCI Brazil Capped | 7.55% | 5.96% | 3.26% | 4.51% | 0.22% | 0.00% | 0.21% | 2.13% | 0.28% | 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
BZQ and SOXL have a correlation of -0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXL has higher volatility (65.64%) compared to BZQ (12.15%). In terms of maximum drawdown, BZQ dropped -99.82% vs SOXL's -90.46%.
On 10-year performance, SOXL leads with 56.08% vs -34.79% for BZQ. On fees, SOXL is cheaper at 0.75% per year. On volatility, BZQ has been the lower-risk option at 12.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SOXL has performed better with a 56.08% return vs -34.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SOXL is cheaper with a 0.75% expense ratio, compared with 0.95% for BZQ.
BZQ has the higher dividend yield at 7.55%, compared with 0.01% for SOXL.
BZQ tracks MSCI Brazil 25-50 (-200%), while SOXL tracks ICE Semiconductor Index. They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for BZQ and 0.75% for SOXL.
SOXL currently has the higher Sharpe Ratio (4.13 vs -1.01), 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.
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