FNGU vs. SOXL

Last updated Jun 23, 2026

FNGU (MicroSectors FANG+ 3X Leveraged ETNs) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both Leveraged Equities funds - FNGU tracks the NYSE FANG+ Index (Gross Total Return) (300%) while SOXL tracks the ICE Semiconductor Index. Both are passively managed. Over the past year, FNGU returned 30.95% vs 1322.96% for SOXL. A 0.64 correlation means they provide meaningful diversification when combined. FNGU charges 2.60%/yr vs 0.75%/yr for SOXL.

Performance

FNGU vs. SOXL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors FANG+ 3X Leveraged ETNs (FNGU) 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, FNGU achieves a 7.21% return, which is significantly lower than SOXL's 615.61% return.

FNGU

• 1D: -7.77%
• 1M: -5.74%
• YTD: 7.21%
• 6M: 4.80%
• 1Y: 30.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SOXL

• 1D: 7.69%
• 1M: 57.83%
• YTD: 615.61%
• 6M: 595.26%
• 1Y: 1,322.96%
• 3Y*: 141.01%
• 5Y*: 51.34%
• 10Y*: 68.93%

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

FNGU vs. SOXL - Yearly Performance Comparison

	2026 (YTD)	2025
FNGU MicroSectors FANG+ 3X Leveraged ETNs	7.21%	3.02%
SOXL Direxion Daily Semiconductor Bull 3X ETF	615.61%	34.43%

Correlation

The correlation between FNGU and SOXL is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.58
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	0.64

The correlation between FNGU and SOXL has been stable across timeframes, ranging from 0.58 to 0.64 - a consistent structural relationship.

FNGU vs. SOXL - Sectors Allocation Comparison

Sectors	FNGU	SOXL
Technology	60.6%	100.0%
Communication Services	29.8%	-
Consumer Cyclical	9.6%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

FNGU vs. SOXL — Risk / Return Rank

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

FNGU

FNGU Risk / Return Rank: 17
FNGU Sharpe Ratio Rank: 16
FNGU Sortino Ratio Rank: 20
FNGU Omega Ratio Rank: 19
FNGU Calmar Ratio Rank: 14
FNGU Martin Ratio Rank: 14

SOXL

SOXL Risk / Return Rank: 97
SOXL Sharpe Ratio Rank: 100
SOXL Sortino Ratio Rank: 94
SOXL Omega Ratio Rank: 94
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.

FNGU vs. SOXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors FANG+ 3X Leveraged ETNs (FNGU) 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.

	FNGU	SOXL	Difference
Sharpe ratio: Return per unit of total volatility	0.49	11.72	-11.23
Sortino ratio: Return per unit of downside risk	1.06	4.57	-3.51
Omega ratio: Gain probability vs. loss probability	1.13	1.65	-0.52
Calmar ratio: Return relative to maximum drawdown	0.52	30.78	-30.26
Martin ratio: Return relative to average drawdown	1.24	99.38	-98.15

FNGU vs. SOXL - Sharpe Ratio Comparison

The current FNGU Sharpe Ratio is 0.49, which is lower than the SOXL Sharpe Ratio of 11.72. The chart below compares the historical Sharpe Ratios of FNGU 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

FNGU vs. SOXL - Drawdown Comparison

The maximum FNGU drawdown since its inception was -61.30%, smaller than the maximum SOXL drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for FNGU and SOXL.

Drawdown Indicators

	FNGU	SOXL	Difference
Max Drawdown Largest peak-to-trough decline	-61.30%	-90.46%	+29.16%
Max Drawdown (1Y) Largest decline over 1 year	-59.55%	-43.47%	-16.08%
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	-25.09%	0.00%	-25.09%
Average Drawdown Average peak-to-trough decline	-22.25%	-34.95%	+12.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.10%	13.44%	+11.66%

Volatility

FNGU vs. SOXL - Volatility Comparison

The current volatility for MicroSectors FANG+ 3X Leveraged ETNs (FNGU) is 32.41%, while Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a volatility of 62.02%. This indicates that FNGU 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

	FNGU	SOXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	32.41%	62.02%	-29.61%
Volatility (6M) Calculated over the trailing 6-month period	52.02%	96.02%	-44.00%
Volatility (1Y) Calculated over the trailing 1-year period	64.11%	114.45%	-50.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	81.02%	109.85%	-28.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	81.02%	100.50%	-19.48%

FNGU vs. SOXL - Expense Ratio Comparison

FNGU has a 2.60% expense ratio, which is higher than SOXL's 0.75% expense ratio.

Dividends

FNGU vs. SOXL - Dividend Comparison

FNGU has not paid dividends to shareholders, while SOXL's dividend yield for the trailing twelve months is around 0.03%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FNGU MicroSectors FANG+ 3X Leveraged ETNs	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	0.03%	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 FNGU and SOXL in my portfolio?

FNGU and SOXL have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FNGU or SOXL?

SOXL has higher volatility (62.02%) compared to FNGU (32.41%). In terms of maximum drawdown, FNGU dropped -61.30% vs SOXL's -90.46%.

Which ETF is better, FNGU or SOXL?

On 1-year performance, SOXL leads with 1322.96% vs 30.95% for FNGU. On fees, SOXL is cheaper at 0.75% per year. On volatility, FNGU has been the lower-risk option at 32.41%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FNGU or SOXL?

Over the 1-year period, SOXL has performed better with a 1322.96% return vs 30.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FNGU or SOXL?

SOXL is cheaper with a 0.75% expense ratio, compared with 2.60% for FNGU.

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

SOXL has the higher dividend yield at 0.03%, compared with 0.00% for FNGU.

What is the main difference between FNGU and SOXL?

FNGU tracks NYSE FANG+ Index (Gross Total Return) (300%), while SOXL tracks ICE Semiconductor Index. They also come from different issuers: Bank of Montreal and Direxion. Their fees differ too: 2.60% for FNGU and 0.75% for SOXL.

Which has better risk-adjusted returns?

SOXL currently has the higher Sharpe Ratio (11.72 vs 0.49), 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.