DUG vs. SOXL

Last updated Jun 24, 2026

DUG (ProShares UltraShort Oil & Gas) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both Leveraged Equities funds - DUG tracks the DJ Global United States (All) / Oil & Gas -IND (-200%) while SOXL tracks the ICE Semiconductor Index. Both are passively managed. Over the past 10 years, DUG returned -31.35%/yr vs 64.56%/yr for SOXL. At a correlation of -0.41, they often move in opposite directions. DUG charges 0.95%/yr vs 0.75%/yr for SOXL.

Performance

DUG vs. SOXL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort Oil & Gas (DUG) 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, DUG achieves a -36.75% return, which is significantly lower than SOXL's 450.61% return. Over the past 10 years, DUG has underperformed SOXL with an annualized return of -31.35%, while SOXL has yielded a comparatively higher 64.56% annualized return.

DUG

• 1D: -1.25%
• 1M: 16.78%
• YTD: -36.75%
• 6M: -37.18%
• 1Y: -42.58%
• 3Y*: -26.36%
• 5Y*: -36.37%
• 10Y*: -31.35%

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)

DUG vs. SOXL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DUG ProShares UltraShort Oil & Gas	-36.75%	-18.63%	-6.13%	-2.28%	-72.98%	-68.12%	-24.59%	-23.47%	36.14%	-1.09%
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 DUG and SOXL is 0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.02
Correlation (3Y) Calculated over the trailing 3-year period	-0.10
Correlation (5Y) Calculated over the trailing 5-year period	-0.21
Correlation (10Y) Calculated over the trailing 10-year period	-0.30
Correlation (All Time) Calculated using the full available price history since Mar 11, 2010	-0.41

The correlation between DUG and SOXL shifts across timeframes, from -0.41 (all time) to 0.02 (1 year), reflecting how their relationship changes across market environments.

DUG vs. SOXL - Sectors Allocation Comparison

Sectors	DUG	SOXL
Financial Services	33.3%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	100.0%
Utilities	-	-

Return for Risk

DUG vs. SOXL — Risk / Return Rank

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

DUG

DUG Risk / Return Rank: 2
DUG Sharpe Ratio Rank: 1
DUG Sortino Ratio Rank: 1
DUG Omega Ratio Rank: 2
DUG Calmar Ratio Rank: 3
DUG Martin Ratio Rank: 2

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.

DUG vs. SOXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Oil & Gas (DUG) 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.

	DUG	SOXL	Difference
Sharpe ratio: Return per unit of total volatility	-1.03	8.45	-9.47
Sortino ratio: Return per unit of downside risk	-1.59	4.03	-5.62
Omega ratio: Gain probability vs. loss probability	0.84	1.58	-0.74
Calmar ratio: Return relative to maximum drawdown	-0.75	22.69	-23.44
Martin ratio: Return relative to average drawdown	-1.34	72.83	-74.17

DUG vs. SOXL - Sharpe Ratio Comparison

The current DUG Sharpe Ratio is -1.03, which is lower than the SOXL Sharpe Ratio of 8.45. The chart below compares the historical Sharpe Ratios of DUG 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

DUG vs. SOXL - Drawdown Comparison

The maximum DUG drawdown since its inception was -99.92%, which is greater than SOXL's maximum drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for DUG and SOXL.

Drawdown Indicators

	DUG	SOXL	Difference
Max Drawdown Largest peak-to-trough decline	-99.92%	-90.46%	-9.46%
Max Drawdown (1Y) Largest decline over 1 year	-57.00%	-43.47%	-13.53%
Max Drawdown (3Y) Largest decline over 3 years	-68.64%	-87.88%	+19.24%
Max Drawdown (5Y) Largest decline over 5 years	-94.03%	-90.46%	-3.57%
Max Drawdown (10Y) Largest decline over 10 years	-99.46%	-90.46%	-9.00%
Current Drawdown Current decline from peak	-99.90%	-23.06%	-76.84%
Average Drawdown Average peak-to-trough decline	-88.98%	-34.95%	-54.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	31.81%	13.52%	+18.29%

Volatility

DUG vs. SOXL - Volatility Comparison

The current volatility for ProShares UltraShort Oil & Gas (DUG) is 14.09%, while Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a volatility of 68.39%. This indicates that DUG 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

	DUG	SOXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.09%	68.39%	-54.30%
Volatility (6M) Calculated over the trailing 6-month period	33.47%	99.84%	-66.37%
Volatility (1Y) Calculated over the trailing 1-year period	41.82%	116.79%	-74.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.52%	110.35%	-58.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	58.84%	100.62%	-41.78%

DUG vs. SOXL - Expense Ratio Comparison

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

Dividends

DUG vs. SOXL - Dividend Comparison

DUG's dividend yield for the trailing twelve months is around 4.36%, more than SOXL's 0.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
DUG ProShares UltraShort Oil & Gas	4.36%	3.21%	5.66%	4.16%	0.28%	0.00%	0.10%	0.56%	0.29%	0.00%	0.00%
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%

Frequently Asked Questions

Can I hold both DUG and SOXL in my portfolio?

DUG and SOXL have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DUG or SOXL?

SOXL has higher volatility (68.39%) compared to DUG (14.09%). In terms of maximum drawdown, DUG dropped -99.92% vs SOXL's -90.46%.

Which ETF is better, DUG or SOXL?

On 10-year performance, SOXL leads with 64.56% vs -31.35% for DUG. On fees, SOXL is cheaper at 0.75% per year. On volatility, DUG has been the lower-risk option at 14.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DUG or SOXL?

Over the 10-year period, SOXL has performed better with a 64.56% return vs -31.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DUG or SOXL?

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

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

DUG has the higher dividend yield at 4.36%, compared with 0.03% for SOXL.

What is the main difference between DUG and SOXL?

DUG tracks DJ Global United States (All) / Oil & Gas -IND (-200%), while SOXL tracks ICE Semiconductor Index. They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for DUG and 0.75% for SOXL.

Which has better risk-adjusted returns?

SOXL currently has the higher Sharpe Ratio (8.45 vs -1.03), 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.