KMLI vs. SOXL

Last updated Jun 26, 2026

KMLI (KraneShares 2x Long MELI Daily ETF) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both Leveraged Equities funds. KMLI is actively managed, while SOXL is passively managed. Over the past year, KMLI returned -70.09% vs 928.01% for SOXL. At a 0.21 correlation, their price movements are largely independent. KMLI charges 1.26%/yr vs 0.75%/yr for SOXL.

Performance

KMLI vs. SOXL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in KraneShares 2x Long MELI Daily ETF (KMLI) 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, KMLI achieves a -44.90% return, which is significantly lower than SOXL's 501.02% return.

KMLI

• 1D: -5.19%
• 1M: -5.53%
• YTD: -44.90%
• 6M: -44.26%
• 1Y: -70.09%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SOXL

• 1D: 10.04%
• 1M: 11.88%
• YTD: 501.02%
• 6M: 471.39%
• 1Y: 928.01%
• 3Y*: 126.70%
• 5Y*: 44.97%
• 10Y*: 68.12%

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

KMLI vs. SOXL - Yearly Performance Comparison

	2026 (YTD)	2025
KMLI KraneShares 2x Long MELI Daily ETF	-44.90%	-38.14%
SOXL Direxion Daily Semiconductor Bull 3X ETF	501.02%	94.89%

Correlation

The correlation between KMLI and SOXL is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (All Time) Calculated using the full available price history since Jun 12, 2025	0.21

KMLI vs. SOXL - Sectors Allocation Comparison

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

Return for Risk

KMLI vs. SOXL — Risk / Return Rank

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

KMLI

KMLI Risk / Return Rank: 2
KMLI Sharpe Ratio Rank: 3
KMLI Sortino Ratio Rank: 2
KMLI Omega Ratio Rank: 2
KMLI Calmar Ratio Rank: 1
KMLI Martin Ratio Rank: 2

SOXL

SOXL Risk / Return Rank: 97
SOXL Sharpe Ratio Rank: 99
SOXL Sortino Ratio Rank: 93
SOXL Omega Ratio Rank: 93
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.

KMLI vs. SOXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KraneShares 2x Long MELI Daily ETF (KMLI) 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.

	KMLI	SOXL	Difference
Sharpe ratio: Return per unit of total volatility	-0.89	8.03	-8.92
Sortino ratio: Return per unit of downside risk	-1.41	3.97	-5.38
Omega ratio: Gain probability vs. loss probability	0.82	1.57	-0.75
Calmar ratio: Return relative to maximum drawdown	-0.96	21.57	-22.53
Martin ratio: Return relative to average drawdown	-1.46	68.63	-70.08

KMLI vs. SOXL - Sharpe Ratio Comparison

The current KMLI Sharpe Ratio is -0.89, which is lower than the SOXL Sharpe Ratio of 8.03. The chart below compares the historical Sharpe Ratios of KMLI 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

KMLI vs. SOXL - Drawdown Comparison

The maximum KMLI drawdown since its inception was -73.23%, smaller than the maximum SOXL drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for KMLI and SOXL.

Drawdown Indicators

	KMLI	SOXL	Difference
Max Drawdown Largest peak-to-trough decline	-73.23%	-90.46%	+17.23%
Max Drawdown (1Y) Largest decline over 1 year	-73.23%	-43.47%	-29.76%
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	-71.64%	-16.01%	-55.63%
Average Drawdown Average peak-to-trough decline	-42.50%	-34.94%	-7.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	48.16%	13.64%	+34.52%

Volatility

KMLI vs. SOXL - Volatility Comparison

The current volatility for KraneShares 2x Long MELI Daily ETF (KMLI) is 21.21%, while Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a volatility of 66.73%. This indicates that KMLI 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

	KMLI	SOXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.21%	66.73%	-45.52%
Volatility (6M) Calculated over the trailing 6-month period	61.96%	99.97%	-38.01%
Volatility (1Y) Calculated over the trailing 1-year period	79.30%	116.70%	-37.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	78.90%	110.41%	-31.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	78.90%	100.63%	-21.73%

KMLI vs. SOXL - Expense Ratio Comparison

KMLI has a 1.26% expense ratio, which is higher than SOXL's 0.75% expense ratio.

Dividends

KMLI vs. SOXL - Dividend Comparison

KMLI's dividend yield for the trailing twelve months is around 19.29%, while SOXL has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
KMLI KraneShares 2x Long MELI Daily ETF	19.29%	10.63%	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 KMLI and SOXL in my portfolio?

KMLI and SOXL have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KMLI or SOXL?

SOXL has higher volatility (66.73%) compared to KMLI (21.21%). In terms of maximum drawdown, KMLI dropped -73.23% vs SOXL's -90.46%.

Which ETF is better, KMLI or SOXL?

On 1-year performance, SOXL leads with 928.01% vs -70.09% for KMLI. On fees, SOXL is cheaper at 0.75% per year. On volatility, KMLI has been the lower-risk option at 21.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KMLI or SOXL?

Over the 1-year period, SOXL has performed better with a 928.01% return vs -70.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KMLI or SOXL?

SOXL is cheaper with a 0.75% expense ratio, compared with 1.26% for KMLI.

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

KMLI has the higher dividend yield at 19.29%, compared with 0.00% for SOXL.

What is the main difference between KMLI and SOXL?

They also come from different issuers: KraneShares and Direxion. Their fees differ too: 1.26% for KMLI and 0.75% for SOXL.

Which has better risk-adjusted returns?

SOXL currently has the higher Sharpe Ratio (8.03 vs -0.89), 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.