GDXU vs. SOXL

Last updated Jun 25, 2026

GDXU (MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both Leveraged Equities funds - GDXU tracks the S-Network MicroSectors Gold Miners Index while SOXL tracks the ICE Semiconductor Index. Both are passively managed. Over the past 5 years, GDXU returned -13.05%/yr vs 42.22%/yr for SOXL. At a 0.26 correlation, their price movements are largely independent. GDXU charges 0.95%/yr vs 0.75%/yr for SOXL.

Performance

GDXU vs. SOXL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040 (GDXU) 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, GDXU achieves a -66.09% return, which is significantly lower than SOXL's 446.21% return.

GDXU

• 1D: -12.30%
• 1M: -41.51%
• YTD: -66.09%
• 6M: -70.80%
• 1Y: 14.54%
• 3Y*: 31.96%
• 5Y*: -13.05%
• 10Y*: —

SOXL

• 1D: -0.80%
• 1M: 20.47%
• YTD: 446.21%
• 6M: 419.27%
• 1Y: 858.82%
• 3Y*: 120.25%
• 5Y*: 42.22%
• 10Y*: 64.42%

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

GDXU vs. SOXL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
GDXU MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040	-66.09%	796.47%	-18.60%	-21.36%	-62.82%	-54.93%	4.32%
SOXL Direxion Daily Semiconductor Bull 3X ETF	446.21%	54.91%	-12.31%	226.98%	-85.66%	118.84%	8.30%

Correlation

The correlation between GDXU and SOXL is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (3Y) Calculated over the trailing 3-year period	0.26
Correlation (5Y) Calculated over the trailing 5-year period	0.25
Correlation (All Time) Calculated using the full available price history since Dec 3, 2020	0.26

GDXU vs. SOXL - Sectors Allocation Comparison

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

Return for Risk

GDXU vs. SOXL — Risk / Return Rank

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

GDXU

GDXU Risk / Return Rank: 16
GDXU Sharpe Ratio Rank: 10
GDXU Sortino Ratio Rank: 22
GDXU Omega Ratio Rank: 24
GDXU Calmar Ratio Rank: 11
GDXU Martin Ratio Rank: 10

SOXL

SOXL Risk / Return Rank: 96
SOXL Sharpe Ratio Rank: 99
SOXL Sortino Ratio Rank: 91
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.

GDXU vs. SOXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040 (GDXU) 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.

	GDXU	SOXL	Difference
Sharpe ratio: Return per unit of total volatility	0.10	7.45	-7.35
Sortino ratio: Return per unit of downside risk	1.16	3.87	-2.71
Omega ratio: Gain probability vs. loss probability	1.16	1.56	-0.40
Calmar ratio: Return relative to maximum drawdown	0.17	19.95	-19.78
Martin ratio: Return relative to average drawdown	0.36	63.67	-63.31

GDXU vs. SOXL - Sharpe Ratio Comparison

The current GDXU Sharpe Ratio is 0.10, which is lower than the SOXL Sharpe Ratio of 7.45. The chart below compares the historical Sharpe Ratios of GDXU 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

GDXU vs. SOXL - Drawdown Comparison

The maximum GDXU drawdown since its inception was -94.39%, roughly equal to the maximum SOXL drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for GDXU and SOXL.

Drawdown Indicators

	GDXU	SOXL	Difference
Max Drawdown Largest peak-to-trough decline	-94.39%	-90.46%	-3.93%
Max Drawdown (1Y) Largest decline over 1 year	-84.26%	-43.47%	-40.79%
Max Drawdown (3Y) Largest decline over 3 years	-84.26%	-87.88%	+3.62%
Max Drawdown (5Y) Largest decline over 5 years	-91.30%	-90.46%	-0.84%
Max Drawdown (10Y) Largest decline over 10 years	—	-90.46%	—
Current Drawdown Current decline from peak	-84.26%	-23.67%	-60.59%
Average Drawdown Average peak-to-trough decline	-69.81%	-34.95%	-34.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	40.46%	13.60%	+26.86%

Volatility

GDXU vs. SOXL - Volatility Comparison

The current volatility for MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040 (GDXU) is 56.27%, while Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a volatility of 68.18%. This indicates that GDXU 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

	GDXU	SOXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	56.27%	68.18%	-11.91%
Volatility (6M) Calculated over the trailing 6-month period	126.69%	99.65%	+27.04%
Volatility (1Y) Calculated over the trailing 1-year period	144.88%	116.81%	+28.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	112.55%	110.33%	+2.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	111.34%	100.60%	+10.74%

GDXU vs. SOXL - Expense Ratio Comparison

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

Dividends

GDXU vs. SOXL - Dividend Comparison

Neither GDXU nor SOXL has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
GDXU MicroSectors Gold Miners 3X Leveraged ETNs due June 29, 2040	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	0.00%	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 GDXU and SOXL in my portfolio?

GDXU and SOXL have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GDXU or SOXL?

SOXL has higher volatility (68.18%) compared to GDXU (56.27%). In terms of maximum drawdown, GDXU dropped -94.39% vs SOXL's -90.46%.

Which ETF is better, GDXU or SOXL?

On 5-year performance, SOXL leads with 42.22% vs -13.05% for GDXU. On fees, SOXL is cheaper at 0.75% per year. On volatility, GDXU has been the lower-risk option at 56.27%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GDXU or SOXL?

Over the 5-year period, SOXL has performed better with a 42.22% return vs -13.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GDXU or SOXL?

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

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

GDXU and SOXL have nearly identical dividend yields, around 0.00%.

What is the main difference between GDXU and SOXL?

GDXU tracks S-Network MicroSectors Gold Miners Index, while SOXL tracks ICE Semiconductor Index. They also come from different issuers: BMO and Direxion. Their fees differ too: 0.95% for GDXU and 0.75% for SOXL.

Which has better risk-adjusted returns?

SOXL currently has the higher Sharpe Ratio (7.45 vs 0.10), 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.