DRIP vs. SOXL
DRIP (Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both Leveraged Equities funds from Direxion - DRIP tracks the S&P Oil & Gas Exploration & Production Select Industry Index (-300%) while SOXL tracks the NYSE Semiconductor Index. Both are passively managed. Over the past 10 years, DRIP returned -42.61%/yr vs 47.85%/yr for SOXL. Their -0.33 correlation means they have often moved in opposite directions in the past. DRIP charges 1.07%/yr vs 0.75%/yr for SOXL.
Performance
DRIP vs. SOXL - Performance Comparison
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Returns By Period
In the year-to-date period, DRIP achieves a -53.72% return, which is significantly lower than SOXL's 177.68% return. Over the past 10 years, DRIP has underperformed SOXL with an annualized return of -42.61%, while SOXL has yielded a comparatively higher 47.85% annualized return.
DRIP
- 1D
- 3.59%
- 1M
- -22.42%
- 6M
- -46.02%
- YTD
- -53.72%
- 1Y
- -57.86%
- 3Y*
- -24.65%
- 5Y*
- -45.76%
- 10Y*
- -42.61%
- ALL TIME*
- -41.99%
SOXL
- 1D
- 1.73%
- 1M
- -35.69%
- 6M
- 79.00%
- YTD
- 177.68%
- 1Y
- 384.82%
- 3Y*
- 68.44%
- 5Y*
- 20.37%
- 10Y*
- 47.85%
- ALL TIME*
- 38.13%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $16.92M | $63.12M | $132.02M | |
| $10.83B | $10.43B | $11.85B |
DRIP vs. SOXL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DRIP Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares | -53.72% | -14.81% | 1.27% | -17.24% | -73.57% | -79.74% | -42.76% | -36.11% | 49.62% | -9.05% |
SOXL Direxion Daily Semiconductor Bull 3X ETF | 177.68% | 54.91% | -12.31% | 226.98% | -85.66% | 118.84% | 70.04% | 231.83% | -39.07% | 141.71% |
Correlation
The correlation between DRIP and SOXL is 0.03, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.03 |
Correlation (3Y) Balances recent behavior with more history. | -0.15 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.26 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.31 |
Correlation (All Time) Calculated using the full available price history since May 29, 2015 | -0.33 |
The correlation between DRIP and SOXL shifts across timeframes, from -0.33 (all time) to 0.03 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
DRIP vs. SOXL — Risk / Return Rank
DRIP
SOXL
DRIP vs. SOXL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP) 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.
| DRIP | SOXL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.00 | ||
| Sortino ratioReturn per unit of downside risk | -4.50 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 1.37 | -0.55 |
| Calmar ratioReturn relative to maximum drawdown | -0.93 | 5.59 | -6.52 |
| Martin ratioReturn relative to average drawdown | -1.52 | 18.97 | -20.49 |
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Drawdowns
DRIP vs. SOXL - Drawdown Comparison
The maximum DRIP drawdown since its inception was -99.95%, which is greater than SOXL's maximum drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for DRIP and SOXL.
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Drawdown Indicators
| DRIP | SOXL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.95% | -90.46% | -9.49% |
Max Drawdown (1Y)Largest decline over 1 year | -62.18% | -69.42% | +7.24% |
Max Drawdown (3Y)Largest decline over 3 years | -76.02% | -87.88% | +11.86% |
Max Drawdown (5Y)Largest decline over 5 years | -96.24% | -90.46% | -5.78% |
Max Drawdown (10Y)Largest decline over 10 years | -99.92% | -90.46% | -9.46% |
Current DrawdownCurrent decline from peak | -99.94% | -61.20% | -38.74% |
Average DrawdownAverage peak-to-trough decline | -90.56% | -35.01% | -55.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 38.17% | 20.40% | +17.77% |
Volatility
DRIP vs. SOXL - Volatility Comparison
The current volatility for Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP) is 17.47%, while Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a volatility of 50.40%. This indicates that DRIP 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
| DRIP | SOXL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.47% | 50.40% | -32.93% |
Volatility (6M)Calculated over the trailing 6-month period | 44.98% | 114.71% | -69.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 56.84% | 130.75% | -73.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 67.64% | 113.25% | -45.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 95.72% | 102.14% | -6.42% |
DRIP vs. SOXL - Expense Ratio Comparison
DRIP has a 1.07% expense ratio, which is higher than SOXL's 0.75% expense ratio.
Dividends
DRIP vs. SOXL - Dividend Comparison
DRIP's dividend yield for the trailing twelve months is around 3.84%, more than SOXL's 0.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
DRIP Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares | 3.84% | 2.86% | 4.38% | 5.09% | 0.00% | 0.00% | 0.01% | 0.96% | 0.58% | 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
DRIP and SOXL have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXL has higher volatility (50.40%) compared to DRIP (17.47%). In terms of maximum drawdown, DRIP dropped -99.95% vs SOXL's -90.46%.
On 10-year performance, SOXL leads with 47.85% vs -42.61% for DRIP. On fees, SOXL is cheaper at 0.75% per year. On volatility, DRIP has been the lower-risk option at 17.47%. 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 47.85% return vs -42.61%. 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 1.07% for DRIP.
DRIP has the higher dividend yield at 3.84%, compared with 0.01% for SOXL.
DRIP tracks S&P Oil & Gas Exploration & Production Select Industry Index (-300%), while SOXL tracks NYSE Semiconductor Index. Their fees differ too: 1.07% for DRIP and 0.75% for SOXL.
SOXL currently has the higher Sharpe Ratio (2.97 vs -1.02), 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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