KMLI vs. SOXL

Last updated Jun 5, 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. At a 0.22 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 -42.98% return, which is significantly lower than SOXL's 525.03% return.

KMLI

• 1D: -0.51%
• 1M: -22.77%
• YTD: -42.98%
• 6M: -50.30%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SOXL

• 1D: -6.36%
• 1M: 82.23%
• YTD: 525.03%
• 6M: 481.71%
• 1Y: 1,280.87%
• 3Y*: 133.82%
• 5Y*: 46.78%
• 10Y*: 64.43%

*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	-42.98%	-37.98%
SOXL Direxion Daily Semiconductor Bull 3X ETF	525.03%	94.45%

Correlation

The correlation between KMLI and SOXL is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 13, 2025	0.22

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.

SOXL

SOXL Risk / Return Rank: 97
SOXL Sharpe Ratio Rank: 100
SOXL Sortino Ratio Rank: 95
SOXL Omega Ratio Rank: 94
SOXL Calmar Ratio Rank: 99
SOXL Martin Ratio Rank: 99

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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	KMLI	SOXL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	12.69	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.44	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.65	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.83	0.51	-1.34

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	—	-43.47%	—
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	-70.65%	-6.36%	-64.29%
Average Drawdown Average peak-to-trough decline	-41.03%	-35.01%	-6.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	12.66%	—

Volatility

Volatility by Period

	KMLI	SOXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	41.05%	—
Volatility (6M) Calculated over the trailing 6-month period	—	81.57%	—
Volatility (1Y) Calculated over the trailing 1-year period	79.26%	102.16%	-22.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	79.26%	107.25%	-27.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	79.26%	99.05%	-19.79%

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 18.64%, more than SOXL's 0.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
KMLI KraneShares 2x Long MELI Daily ETF	18.64%	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	0.03%	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 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, KMLI or SOXL?

On fees, SOXL is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

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 18.64%, compared with 0.03% 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.