EVAV vs. SOXL

Last updated Jun 4, 2026

EVAV (Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both Leveraged Equities funds from Direxion - EVAV tracks the Indxx US Electric and Autonomous Vehicles Index - Benchmark TR Gross (200%) while SOXL tracks the ICE Semiconductor Index. Both are passively managed. At a 0.49 correlation, their price movements are largely independent. EVAV charges 0.98%/yr vs 0.75%/yr for SOXL.

Performance

EVAV vs. SOXL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares (EVAV) and Direxion Daily Semiconductor Bull 3X ETF (SOXL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

EVAV

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SOXL

• 1D: 5.34%
• 1M: 119.95%
• YTD: 567.48%
• 6M: 502.28%
• 1Y: 1,438.30%
• 3Y*: 135.13%
• 5Y*: 48.72%
• 10Y*: 65.39%

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

EVAV vs. SOXL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
EVAV Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares	0.00%	33.87%	-50.31%	-22.79%	-75.60%
SOXL Direxion Daily Semiconductor Bull 3X ETF	567.48%	54.91%	-12.31%	226.98%	-50.78%

Correlation

The correlation between EVAV and SOXL is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.44
Correlation (All Time) Calculated using the full available price history since Aug 12, 2022	0.49

Over the past year, the correlation between EVAV and SOXL has dropped to 0.27 - well below their long-term average of 0.49, suggesting their price drivers have been diverging.

EVAV vs. SOXL - Sectors Allocation Comparison

Sectors	EVAV	SOXL
Consumer Cyclical	22.3%	-
Technology	2.7%	100.0%
Industrials	2.6%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

EVAV vs. SOXL — Risk / Return Rank

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

SOXL

SOXL Risk / Return Rank: 97
SOXL Sharpe Ratio Rank: 100
SOXL Sortino Ratio Rank: 95
SOXL Omega Ratio Rank: 95
SOXL Calmar Ratio Rank: 99
SOXL Martin Ratio Rank: 99

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.

EVAV vs. SOXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares (EVAV) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	EVAV	SOXL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	14.28	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.46	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.66	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.52	—

Drawdowns

Drawdown Indicators

	EVAV	SOXL	Difference
Max Drawdown Largest peak-to-trough decline	—	-90.46%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-43.47%	—
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	—	0.00%	—
Average Drawdown Average peak-to-trough decline	—	-35.01%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	12.65%	—

Volatility

Volatility by Period

	EVAV	SOXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	40.82%	—
Volatility (6M) Calculated over the trailing 6-month period	—	81.29%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	102.11%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	107.25%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	99.04%	—

EVAV vs. SOXL - Expense Ratio Comparison

EVAV has a 0.98% expense ratio, which is higher than SOXL's 0.75% expense ratio.

Dividends

EVAV vs. SOXL - Dividend Comparison

EVAV's dividend yield for the trailing twelve months is around 0.81%, more than SOXL's 0.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
EVAV Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares	0.81%	0.97%	2.52%	2.34%	0.51%	0.00%	0.00%	0.00%	0.00%	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 EVAV and SOXL in my portfolio?

EVAV and SOXL have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EVAV or SOXL?

On fees, SOXL is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EVAV or SOXL?

SOXL is cheaper with a 0.75% expense ratio, compared with 0.98% for EVAV.

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

EVAV has the higher dividend yield at 0.81%, compared with 0.03% for SOXL.

What is the main difference between EVAV and SOXL?

EVAV tracks Indxx US Electric and Autonomous Vehicles Index - Benchmark TR Gross (200%), while SOXL tracks ICE Semiconductor Index. Their fees differ too: 0.98% for EVAV and 0.75% for SOXL.