DDM vs. SOXL

Last updated Jun 24, 2026

DDM (ProShares Ultra Dow30) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both Leveraged Equities funds - DDM tracks the Dow Jones Industrial Average Index (200%) while SOXL tracks the ICE Semiconductor Index. Both are passively managed. Over the past 10 years, DDM returned 20.48%/yr vs 64.56%/yr for SOXL. A 0.65 correlation means they provide meaningful diversification when combined. DDM charges 0.95%/yr vs 0.75%/yr for SOXL.

Performance

DDM vs. SOXL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Dow30 (DDM) 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, DDM achieves a 13.14% return, which is significantly lower than SOXL's 450.61% return. Over the past 10 years, DDM has underperformed SOXL with an annualized return of 20.48%, while SOXL has yielded a comparatively higher 64.56% annualized return.

DDM

• 1D: -0.12%
• 1M: 4.09%
• YTD: 13.14%
• 6M: 11.28%
• 1Y: 41.18%
• 3Y*: 26.56%
• 5Y*: 13.43%
• 10Y*: 20.48%

SOXL

• 1D: -23.06%
• 1M: 21.44%
• YTD: 450.61%
• 6M: 429.57%
• 1Y: 976.09%
• 3Y*: 120.84%
• 5Y*: 42.16%
• 10Y*: 64.56%

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

DDM vs. SOXL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DDM ProShares Ultra Dow30	13.14%	20.59%	21.60%	24.34%	-19.48%	41.97%	2.14%	47.98%	-13.46%	59.56%
SOXL Direxion Daily Semiconductor Bull 3X ETF	450.61%	54.91%	-12.31%	226.98%	-85.66%	118.84%	70.04%	231.83%	-39.07%	141.71%

Correlation

The correlation between DDM and SOXL is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (5Y) Calculated over the trailing 5-year period	0.59
Correlation (10Y) Calculated over the trailing 10-year period	0.61
Correlation (All Time) Calculated using the full available price history since Mar 11, 2010	0.65

The correlation between DDM and SOXL shifts across timeframes, from 0.47 (1 year) to 0.65 (all time), reflecting how their relationship changes across market environments.

DDM vs. SOXL - Sectors Allocation Comparison

Sectors	DDM	SOXL
Financial Services	34.6%	-
Industrials	13.6%	-
Technology	12.0%	100.0%
Healthcare	9.2%	-
Consumer Cyclical	7.7%	-
Consumer Defensive	3.0%	-
Basic Materials	2.7%	-
Energy	1.5%	-
Communication Services	1.3%	-
Real Estate	-	-
Utilities	-	-

Return for Risk

DDM vs. SOXL — Risk / Return Rank

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

DDM

DDM Risk / Return Rank: 48
DDM Sharpe Ratio Rank: 51
DDM Sortino Ratio Rank: 50
DDM Omega Ratio Rank: 46
DDM Calmar Ratio Rank: 45
DDM Martin Ratio Rank: 49

SOXL

SOXL Risk / Return Rank: 96
SOXL Sharpe Ratio Rank: 99
SOXL Sortino Ratio Rank: 90
SOXL Omega Ratio Rank: 92
SOXL Calmar Ratio Rank: 99
SOXL Martin Ratio Rank: 98

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.

DDM vs. SOXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Dow30 (DDM) 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.

	DDM	SOXL	Difference
Sharpe ratio: Return per unit of total volatility	1.67	8.45	-6.78
Sortino ratio: Return per unit of downside risk	2.35	4.03	-1.68
Omega ratio: Gain probability vs. loss probability	1.28	1.58	-0.30
Calmar ratio: Return relative to maximum drawdown	2.14	22.69	-20.55
Martin ratio: Return relative to average drawdown	7.85	72.83	-64.98

DDM vs. SOXL - Sharpe Ratio Comparison

The current DDM Sharpe Ratio is 1.67, which is lower than the SOXL Sharpe Ratio of 8.45. The chart below compares the historical Sharpe Ratios of DDM 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

DDM vs. SOXL - Drawdown Comparison

The maximum DDM drawdown since its inception was -81.70%, smaller than the maximum SOXL drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for DDM and SOXL.

Drawdown Indicators

	DDM	SOXL	Difference
Max Drawdown Largest peak-to-trough decline	-81.70%	-90.46%	+8.76%
Max Drawdown (1Y) Largest decline over 1 year	-19.31%	-43.47%	+24.16%
Max Drawdown (3Y) Largest decline over 3 years	-31.62%	-87.88%	+56.26%
Max Drawdown (5Y) Largest decline over 5 years	-40.18%	-90.46%	+50.28%
Max Drawdown (10Y) Largest decline over 10 years	-63.13%	-90.46%	+27.33%
Current Drawdown Current decline from peak	-1.46%	-23.06%	+21.60%
Average Drawdown Average peak-to-trough decline	-17.29%	-34.95%	+17.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.26%	13.52%	-8.26%

Volatility

DDM vs. SOXL - Volatility Comparison

The current volatility for ProShares Ultra Dow30 (DDM) is 8.37%, while Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a volatility of 68.39%. This indicates that DDM 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

	DDM	SOXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.37%	68.39%	-60.02%
Volatility (6M) Calculated over the trailing 6-month period	19.59%	99.84%	-80.25%
Volatility (1Y) Calculated over the trailing 1-year period	24.90%	116.79%	-91.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.63%	110.35%	-80.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.76%	100.62%	-65.86%

DDM vs. SOXL - Expense Ratio Comparison

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

Dividends

DDM vs. SOXL - Dividend Comparison

DDM's dividend yield for the trailing twelve months is around 0.88%, more than SOXL's 0.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DDM ProShares Ultra Dow30	0.88%	0.94%	1.00%	0.27%	0.83%	0.18%	0.31%	0.62%	0.89%	0.68%	1.08%	1.23%
SOXL Direxion Daily Semiconductor Bull 3X ETF	0.03%	0.34%	1.18%	0.51%	1.07%	0.04%	0.05%	0.38%	1.30%	0.09%	4.84%	0.00%

Frequently Asked Questions

Can I hold both DDM and SOXL in my portfolio?

DDM and SOXL have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DDM or SOXL?

SOXL has higher volatility (68.39%) compared to DDM (8.37%). In terms of maximum drawdown, DDM dropped -81.70% vs SOXL's -90.46%.

Which ETF is better, DDM or SOXL?

On 10-year performance, SOXL leads with 64.56% vs 20.48% for DDM. On fees, SOXL is cheaper at 0.75% per year. On volatility, DDM has been the lower-risk option at 8.37%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DDM or SOXL?

Over the 10-year period, SOXL has performed better with a 64.56% return vs 20.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DDM or SOXL?

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

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

DDM has the higher dividend yield at 0.88%, compared with 0.03% for SOXL.

What is the main difference between DDM and SOXL?

DDM tracks Dow Jones Industrial Average Index (200%), while SOXL tracks ICE Semiconductor Index. They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for DDM and 0.75% for SOXL.

Which has better risk-adjusted returns?

SOXL currently has the higher Sharpe Ratio (8.45 vs 1.67), 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.