IFED vs. SOXL
IFED (ETRACS IFED Invest with the Fed TR Index ETN) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both Leveraged Equities funds - IFED tracks the IFED Large-Cap US Equity Index - Benchmark TR Gross while SOXL tracks the ICE Semiconductor Index. Both are passively managed. Over the past 3 years, IFED returned 16.71%/yr vs 135.13%/yr for SOXL. A 0.66 correlation means they provide meaningful diversification when combined. IFED charges 0.45%/yr vs 0.75%/yr for SOXL.
Performance
IFED vs. SOXL - Performance Comparison
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Returns By Period
In the year-to-date period, IFED achieves a -3.52% return, which is significantly lower than SOXL's 567.48% return.
IFED
- 1D
- -1.24%
- 1M
- 4.85%
- YTD
- -3.52%
- 6M
- -3.51%
- 1Y
- 1.97%
- 3Y*
- 16.71%
- 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%
IFED vs. SOXL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IFED ETRACS IFED Invest with the Fed TR Index ETN | -3.52% | 15.02% | 23.04% | 20.78% | -1.46% | 8.46% |
SOXL Direxion Daily Semiconductor Bull 3X ETF | 567.48% | 54.91% | -12.31% | 226.98% | -85.66% | 40.00% |
Correlation
The correlation between IFED and SOXL is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since Sep 16, 2021 | 0.66 |
Over the past year, the correlation between IFED and SOXL has dropped to 0.32 - well below their long-term average of 0.66, suggesting their price drivers have been diverging.
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Return for Risk
IFED vs. SOXL — Risk / Return Rank
IFED
SOXL
IFED vs. SOXL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS IFED Invest with the Fed TR Index ETN (IFED) 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.
| IFED | SOXL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -14.16 | ||
| Sortino ratioReturn per unit of downside risk | -4.88 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.72 | -0.68 |
| Calmar ratioReturn relative to maximum drawdown | 0.14 | 33.47 | -33.34 |
| Martin ratioReturn relative to average drawdown | 0.34 | 114.79 | -114.44 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IFED | SOXL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.12 | 14.28 | -14.16 |
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 | 0.65 | 0.52 | +0.13 |
Drawdowns
IFED vs. SOXL - Drawdown Comparison
The maximum IFED drawdown since its inception was -22.36%, smaller than the maximum SOXL drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for IFED and SOXL.
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Drawdown Indicators
| IFED | SOXL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.36% | -90.46% | +68.10% |
Max Drawdown (1Y)Largest decline over 1 year | -14.65% | -43.47% | +28.82% |
Max Drawdown (3Y)Largest decline over 3 years | -22.36% | -87.88% | +65.52% |
Max Drawdown (5Y)Largest decline over 5 years | — | -90.46% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -90.46% | — |
Current DrawdownCurrent decline from peak | -5.50% | 0.00% | -5.50% |
Average DrawdownAverage peak-to-trough decline | -5.84% | -35.01% | +29.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.75% | 12.65% | -6.90% |
Volatility
IFED vs. SOXL - Volatility Comparison
The current volatility for ETRACS IFED Invest with the Fed TR Index ETN (IFED) is 4.50%, while Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a volatility of 40.82%. This indicates that IFED 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
| IFED | SOXL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.50% | 40.82% | -36.32% |
Volatility (6M)Calculated over the trailing 6-month period | 12.86% | 81.29% | -68.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.21% | 102.11% | -85.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.88% | 107.25% | -87.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.88% | 99.04% | -79.16% |
IFED vs. SOXL - Expense Ratio Comparison
IFED has a 0.45% expense ratio, which is lower than SOXL's 0.75% expense ratio.
Dividends
IFED vs. SOXL - Dividend Comparison
IFED 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
IFED ETRACS IFED Invest with the Fed TR Index ETN | 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
IFED and SOXL have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXL has higher volatility (40.82%) compared to IFED (4.50%). In terms of maximum drawdown, IFED dropped -22.36% vs SOXL's -90.46%.
On 3-year performance, SOXL leads with 135.13% vs 16.71% for IFED. On fees, IFED is cheaper at 0.45% per year. On volatility, IFED has been the lower-risk option at 4.50%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, SOXL has performed better with a 135.13% return vs 16.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IFED is cheaper with a 0.45% expense ratio, compared with 0.75% for SOXL.
SOXL has the higher dividend yield at 0.03%, compared with 0.00% for IFED.
IFED tracks IFED Large-Cap US Equity Index - Benchmark TR Gross, while SOXL tracks ICE Semiconductor Index. They also come from different issuers: UBS and Direxion. Their fees differ too: 0.45% for IFED and 0.75% for SOXL.
SOXL currently has the higher Sharpe Ratio (14.28 vs 0.12), 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.
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