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HXEM.TO vs. SOXL
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HXEM.TO vs. SOXL

Last updated Aug 5, 2026
Documentation

HXEM.TO (Global X Emerging Markets Equity Index Corporate Class ETF) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both exchange-traded funds - HXEM.TO is a Emerging Markets Equities fund tracking the Global X Emerging Markets Futures Roll Index (Total Return), while SOXL is a Leveraged Equities fund tracking the NYSE Semiconductor Index. Both are passively managed. Over the past 5 years, HXEM.TO returned 9.30%/yr vs 27.90%/yr for SOXL. Their 0.55 correlation means they have sometimes moved together and sometimes differently. HXEM.TO charges 0.25%/yr vs 0.75%/yr for SOXL.

Performance

HXEM.TO vs. SOXL - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Emerging Markets Equity Index Corporate Class ETF (HXEM.TO) and Direxion Daily Semiconductor Bull 3X ETF (SOXL). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

HXEM.TO is traded in CAD, while SOXL is traded in USD. To make them comparable, the SOXL values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, HXEM.TO achieves a 23.89% return, which is significantly lower than SOXL's 241.40% return.

HXEM.TO

1D
3.14%
1M
-4.23%
6M
14.62%
YTD
23.89%
1Y
41.52%
3Y*
21.64%
5Y*
9.30%
10Y*
—
ALL TIME*
9.91%

SOXL

1D
20.15%
1M
-23.83%
6M
134.82%
YTD
241.40%
1Y
470.65%
3Y*
81.99%
5Y*
27.90%
10Y*
51.70%
ALL TIME*
42.38%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

HXEM.TO

Global X Emerging Markets Equity Index Corporate Class ETF
CA$477.01KCA$596.88KCA$520.28K

SOXL

Direxion Daily Semiconductor Bull 3X ETF
CA$15.54BCA$14.73BCA$16.57B

HXEM.TO vs. SOXL - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
HXEM.TO
Global X Emerging Markets Equity Index Corporate Class ETF		23.89%26.46%14.53%7.09%-16.39%-2.71%12.67%
SOXL
Direxion Daily Semiconductor Bull 3X ETF		241.40%47.84%-4.88%219.20%-84.76%118.73%80.17%

Correlation

The correlation between HXEM.TO and SOXL is 0.71, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.71

Correlation (3Y)
Balances recent behavior with more history.

0.62

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.58

Correlation (All Time)
Calculated using the full available price history since Aug 7, 2020

0.55

The correlation between HXEM.TO and SOXL shifts across timeframes, from 0.55 (all time) to 0.71 (1 year), reflecting how their relationship changes across market environments.

HXEM.TO vs. SOXL - Sectors Allocation Comparison

Sectors
HXEM.TO
SOXL

Technology

45.9%
100.0%

Financial Services

18.2%

-

Consumer Cyclical

7.4%

-

Industrials

6.2%

-

Communication Services

6.0%

-

Basic Materials

5.4%

-

Energy

3.2%

-

Consumer Defensive

2.5%

-

Healthcare

2.5%

-

Utilities

1.8%

-

Real Estate

0.9%

-

Technology

HXEM.TO
45.9%
SOXL
100.0%

Financial Services

HXEM.TO
18.2%
SOXL

-

Consumer Cyclical

HXEM.TO
7.4%
SOXL

-

Industrials

HXEM.TO
6.2%
SOXL

-

Communication Services

HXEM.TO
6.0%
SOXL

-

Basic Materials

HXEM.TO
5.4%
SOXL

-

Energy

HXEM.TO
3.2%
SOXL

-

Consumer Defensive

HXEM.TO
2.5%
SOXL

-

Healthcare

HXEM.TO
2.5%
SOXL

-

Utilities

HXEM.TO
1.8%
SOXL

-

Real Estate

HXEM.TO
0.9%
SOXL

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Global X Emerging Markets Equity Index Corporate Class ETF

Direxion Daily Semiconductor Bull 3X ETF

Often compared with HXEM.TO:
HXEM.TO vs. HXDM.TOHXEM.TO vs. ZEM.TOHXEM.TO vs. XEC.TOHXEM.TO vs. HXT.TOHXEM.TO vs. XEM.TOHXEM.TO vs. XEMC.TOHXEM.TO vs. BTCX-B.TO
Often compared with SOXL:
SOXL vs. TQQQSOXL vs. SOXXSOXL vs. SOXSSOXL vs. USDSOXL vs. TECLSOXL vs. NVDLSOXL vs. SPY

Return for Risk

HXEM.TO vs. SOXL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
HXEM.TO
HXEM.TO Risk / Return Rank: 6565
Overall Rank
HXEM.TO Sharpe Ratio Rank: 6363
Sharpe Ratio Rank
HXEM.TO Sortino Ratio Rank: 5757
Sortino Ratio Rank
HXEM.TO Omega Ratio Rank: 6666
Omega Ratio Rank
HXEM.TO Calmar Ratio Rank: 7171
Calmar Ratio Rank
HXEM.TO Martin Ratio Rank: 6666
Martin Ratio Rank
SOXL
SOXL Risk / Return Rank: 9191
Overall Rank
SOXL Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
SOXL Sortino Ratio Rank: 8282
Sortino Ratio Rank
SOXL Omega Ratio Rank: 8484
Omega Ratio Rank
SOXL Calmar Ratio Rank: 9696
Calmar Ratio Rank
SOXL Martin Ratio Rank: 9595
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

HXEM.TO vs. SOXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Emerging Markets Equity Index Corporate Class ETF (HXEM.TO) 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.

HXEM.TOSOXLDifference
Sharpe ratioReturn per unit of total volatility
1.69
3.60

-1.90

Sortino ratioReturn per unit of downside risk
2.24
2.98

-0.73

Omega ratioGain probability vs. loss probability

1.32

1.40

-0.09

Calmar ratioReturn relative to maximum drawdown

2.81

6.82

-4.01

Martin ratioReturn relative to average drawdown

9.04

22.98

-13.94

HXEM.TO vs. SOXL - Sharpe Ratio Comparison

The current HXEM.TO Sharpe Ratio is 1.69, which is lower than the SOXL Sharpe Ratio of 3.60. The chart below compares the historical Sharpe Ratios of HXEM.TO 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.

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Drawdowns

HXEM.TO vs. SOXL - Drawdown Comparison

The maximum HXEM.TO drawdown since its inception was -35.00%, smaller than the maximum SOXL drawdown of -89.76%. Use the drawdown chart below to compare losses from any high point for HXEM.TO and SOXL.

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Drawdown Indicators

HXEM.TOSOXLDifference

Max Drawdown

Largest peak-to-trough decline

-35.00%

-89.76%

+54.76%

Max Drawdown (1Y)

Largest decline over 1 year

-14.85%

-69.56%

+54.71%

Max Drawdown (3Y)

Largest decline over 3 years

-15.40%

-87.34%

+71.94%

Max Drawdown (5Y)

Largest decline over 5 years

-29.64%

-89.76%

+60.12%

Max Drawdown (10Y)

Largest decline over 10 years

—

-89.76%

—

Current Drawdown

Current decline from peak

-7.81%

-53.91%

+46.10%

Average Drawdown

Average peak-to-trough decline

-13.54%

-33.92%

+20.38%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.61%

20.62%

-16.01%

Volatility

HXEM.TO vs. SOXL - Volatility Comparison

The current volatility for Global X Emerging Markets Equity Index Corporate Class ETF (HXEM.TO) is 9.30%, while Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a volatility of 53.60%. This indicates that HXEM.TO 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.

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Volatility by Period

HXEM.TOSOXLDifference

Volatility (1M)

Calculated over the trailing 1-month period

9.30%

53.60%

-44.30%

Volatility (6M)

Calculated over the trailing 6-month period

22.55%

116.13%

-93.58%

Volatility (1Y)

Calculated over the trailing 1-year period

24.67%

131.98%

-107.31%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.28%

113.88%

-95.60%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.92%

102.68%

-84.76%

HXEM.TO vs. SOXL - Expense Ratio Comparison

HXEM.TO has a 0.25% expense ratio, which is lower than SOXL's 0.75% expense ratio.

Dividends

HXEM.TO vs. SOXL - Dividend Comparison

HXEM.TO has not paid dividends to shareholders, while SOXL's dividend yield for the trailing twelve months is around 0.01%.

PositionTTM2025202420232022202120202019201820172016
HXEM.TO
Global X Emerging Markets Equity Index Corporate Class ETF		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		0.01%0.34%1.18%0.51%1.07%0.04%0.05%0.38%1.30%0.09%4.84%

Frequently Asked Questions

HXEM.TO and SOXL 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.

On fees, HXEM.TO is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

HXEM.TO is cheaper with a 0.25% expense ratio, compared with 0.75% for SOXL.

HXEM.TO is categorized as Emerging Markets Equities, while SOXL is Leveraged Equities. HXEM.TO tracks Global X Emerging Markets Futures Roll Index (Total Return), while SOXL tracks NYSE Semiconductor Index. They also come from different issuers: Global X and Direxion. Their fees differ too: 0.25% for HXEM.TO and 0.75% for SOXL.

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