DLLL vs. SOXL

Last updated Aug 2, 2026

DLLL (GraniteShares 2x Long DELL Daily ETF) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both Leveraged Equities funds - DLLL tracks the Dell Technologies Inc. (DELL) while SOXL tracks the NYSE Semiconductor Index. Both are passively managed. Over the past year, DLLL returned 526.11% vs 376.55% for SOXL. Their 0.56 correlation means they have sometimes moved together and sometimes differently. DLLL charges 1.50%/yr vs 0.75%/yr for SOXL.

Performance

DLLL vs. SOXL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long DELL Daily ETF (DLLL) 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, DLLL achieves a 615.57% return, which is significantly higher than SOXL's 172.95% return.

DLLL

• 1D: 0.15%
• 1M: -0.53%
• 6M: 775.99%
• YTD: 615.57%
• 1Y: 526.11%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 275.30%

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)
DLLL GraniteShares 2x Long DELL Daily ETF	$23.39M	$34.88M	$51.04M
SOXL Direxion Daily Semiconductor Bull 3X ETF	$10.60B	$10.77B	$11.72B

DLLL vs. SOXL - Yearly Performance Comparison

	2026 (YTD)	2025
DLLL GraniteShares 2x Long DELL Daily ETF	615.57%	-3.72%
SOXL Direxion Daily Semiconductor Bull 3X ETF	172.95%	53.62%

Correlation

The correlation between DLLL and SOXL is 0.52, 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.	0.52
Correlation (All Time) Calculated using the full available price history since Feb 13, 2025	0.56

The correlation between DLLL and SOXL has been stable across timeframes, ranging from 0.52 to 0.56 - a consistent structural relationship.

DLLL vs. SOXL - Sectors Allocation Comparison

Sectors	DLLL	SOXL
Technology	66.6%	100.0%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

DLLL vs. SOXL — Risk / Return Rank

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

DLLL

DLLL Risk / Return Rank: 94
DLLL Sharpe Ratio Rank: 97
DLLL Sortino Ratio Rank: 93
DLLL Omega Ratio Rank: 91
DLLL Calmar Ratio Rank: 97
DLLL Martin Ratio Rank: 92

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.

DLLL vs. SOXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long DELL Daily ETF (DLLL) 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.

	DLLL	SOXL	Difference
Sharpe ratio: Return per unit of total volatility	3.40	2.77	+0.63
Sortino ratio: Return per unit of downside risk	3.57	2.70	+0.87
Omega ratio: Gain probability vs. loss probability	1.43	1.36	+0.07
Calmar ratio: Return relative to maximum drawdown	8.37	5.22	+3.15
Martin ratio: Return relative to average drawdown	16.29	18.04	-1.75

DLLL vs. SOXL - Sharpe Ratio Comparison

The current DLLL Sharpe Ratio is 3.40, which is comparable to the SOXL Sharpe Ratio of 2.77. The chart below compares the historical Sharpe Ratios of DLLL 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

DLLL vs. SOXL - Drawdown Comparison

The maximum DLLL drawdown since its inception was -68.58%, smaller than the maximum SOXL drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for DLLL and SOXL.

Drawdown Indicators

	DLLL	SOXL	Difference
Max Drawdown Largest peak-to-trough decline	-68.58%	-90.46%	+21.88%
Max Drawdown (1Y) Largest decline over 1 year	-57.19%	-69.42%	+12.23%
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	-32.31%	-61.86%	+29.55%
Average Drawdown Average peak-to-trough decline	-25.81%	-35.00%	+9.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	29.32%	20.04%	+9.28%

Volatility

DLLL vs. SOXL - Volatility Comparison

GraniteShares 2x Long DELL Daily ETF (DLLL) and Direxion Daily Semiconductor Bull 3X ETF (SOXL) have volatilities of 52.08% and 52.68%, 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.

Volatility by Period

	DLLL	SOXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	52.08%	52.68%	-0.60%
Volatility (6M) Calculated over the trailing 6-month period	114.38%	115.51%	-1.13%
Volatility (1Y) Calculated over the trailing 1-year period	140.57%	130.99%	+9.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	132.69%	113.21%	+19.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	132.69%	102.11%	+30.58%

DLLL vs. SOXL - Expense Ratio Comparison

DLLL has a 1.50% expense ratio, which is higher than SOXL's 0.75% expense ratio.

Dividends

DLLL vs. SOXL - Dividend Comparison

DLLL 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
DLLL GraniteShares 2x Long DELL 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 DLLL and SOXL in my portfolio?

DLLL and SOXL have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DLLL or SOXL?

SOXL has higher volatility (52.68%) compared to DLLL (52.08%). In terms of maximum drawdown, DLLL dropped -68.58% vs SOXL's -90.46%.

Which ETF is better, DLLL or SOXL?

On 1-year performance, DLLL leads with 526.11% vs 376.55% for SOXL. On fees, SOXL is cheaper at 0.75% per year. On volatility, DLLL has been the lower-risk option at 52.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DLLL or SOXL?

Over the 1-year period, DLLL has performed better with a 526.11% return vs 376.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DLLL or SOXL?

SOXL is cheaper with a 0.75% expense ratio, compared with 1.50% for DLLL.

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

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

What is the main difference between DLLL and SOXL?

DLLL tracks Dell Technologies Inc. (DELL), while SOXL tracks NYSE Semiconductor Index. They also come from different issuers: GraniteShares and Direxion. Their fees differ too: 1.50% for DLLL and 0.75% for SOXL.

Which has better risk-adjusted returns?

DLLL currently has the higher Sharpe Ratio (3.40 vs 2.77), 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.