FXL vs. TSXU

Last updated Jun 4, 2026

FXL (First Trust Technology AlphaDEX Fund) and TSXU (Direxion Daily Semiconductors Top 5 Bull 2X Shares) are both exchange-traded funds - FXL is a Technology Equities fund tracking the StrataQuant Technology Index, while TSXU is a Leveraged Equities fund tracking the Solactive Semiconductor Top 5 Index (2x). Both are passively managed. A 0.71 correlation means they provide meaningful diversification when combined. FXL charges 0.61%/yr vs 1.05%/yr for TSXU.

Performance

FXL vs. TSXU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Technology AlphaDEX Fund (FXL) and Direxion Daily Semiconductors Top 5 Bull 2X Shares (TSXU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FXL achieves a 31.98% return, which is significantly lower than TSXU's 141.91% return.

FXL

• 1D: -0.88%
• 1M: 17.50%
• YTD: 31.98%
• 6M: 30.18%
• 1Y: 48.07%
• 3Y*: 26.93%
• 5Y*: 13.48%
• 10Y*: 21.15%

TSXU

• 1D: -0.92%
• 1M: 66.50%
• YTD: 141.91%
• 6M: 130.37%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FXL vs. TSXU - Yearly Performance Comparison

	2026 (YTD)	2025
FXL First Trust Technology AlphaDEX Fund	31.98%	-0.74%
TSXU Direxion Daily Semiconductors Top 5 Bull 2X Shares	141.91%	13.59%

Correlation

The correlation between FXL and TSXU is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 2, 2025	0.71

Return for Risk

FXL vs. TSXU — Risk / Return Rank

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

FXL

FXL Risk / Return Rank: 63
FXL Sharpe Ratio Rank: 64
FXL Sortino Ratio Rank: 60
FXL Omega Ratio Rank: 57
FXL Calmar Ratio Rank: 71
FXL Martin Ratio Rank: 65

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.

FXL vs. TSXU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Technology AlphaDEX Fund (FXL) and Direxion Daily Semiconductors Top 5 Bull 2X Shares (TSXU). 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.

	FXL	TSXU	Difference
Sharpe ratio: Return per unit of total volatility	2.16	—	—
Sortino ratio: Return per unit of downside risk	2.84	—	—
Omega ratio: Gain probability vs. loss probability	1.35	—	—
Calmar ratio: Return relative to maximum drawdown	3.56	—	—
Martin ratio: Return relative to average drawdown	11.95	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	FXL	TSXU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.16	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.84	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	4.53	-3.97

Drawdowns

FXL vs. TSXU - Drawdown Comparison

The maximum FXL drawdown since its inception was -61.41%, which is greater than TSXU's maximum drawdown of -35.62%. Use the drawdown chart below to compare losses from any high point for FXL and TSXU.

Drawdown Indicators

	FXL	TSXU	Difference
Max Drawdown Largest peak-to-trough decline	-61.41%	-35.62%	-25.79%
Max Drawdown (1Y) Largest decline over 1 year	-13.56%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-28.27%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-38.49%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-38.49%	—	—
Current Drawdown Current decline from peak	-0.88%	-0.92%	+0.04%
Average Drawdown Average peak-to-trough decline	-11.37%	-10.56%	-0.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.03%	—	—

Volatility

Volatility by Period

	FXL	TSXU	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.61%	—	—
Volatility (6M) Calculated over the trailing 6-month period	17.47%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	22.42%	78.68%	-56.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.12%	78.68%	-53.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.28%	78.68%	-53.40%

FXL vs. TSXU - Expense Ratio Comparison

FXL has a 0.61% expense ratio, which is lower than TSXU's 1.05% expense ratio.

Dividends

FXL vs. TSXU - Dividend Comparison

FXL has not paid dividends to shareholders, while TSXU's dividend yield for the trailing twelve months is around 1.20%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FXL First Trust Technology AlphaDEX Fund	0.00%	0.01%	0.11%	0.41%	0.34%	0.11%	0.04%	0.37%	0.32%	0.27%	1.12%	0.36%
TSXU Direxion Daily Semiconductors Top 5 Bull 2X Shares	1.20%	2.54%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FXL and TSXU in my portfolio?

FXL and TSXU have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FXL or TSXU?

On fees, FXL is cheaper at 0.61% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FXL or TSXU?

FXL is cheaper with a 0.61% expense ratio, compared with 1.05% for TSXU.

Which ETF pays a higher dividend yield, FXL or TSXU?

TSXU has the higher dividend yield at 1.20%, compared with 0.00% for FXL.

What is the main difference between FXL and TSXU?

FXL is categorized as Technology Equities, while TSXU is Leveraged Equities. FXL tracks StrataQuant Technology Index, while TSXU tracks Solactive Semiconductor Top 5 Index (2x). They also come from different issuers: First Trust and Direxion. Their fees differ too: 0.61% for FXL and 1.05% for TSXU.