LTL vs. SOXL

Last updated Jun 24, 2026

LTL (ProShares Ultra Telecommunications) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both Leveraged Equities funds - LTL tracks the Dow Jones U.S. Select Telecommunications Index (200%) while SOXL tracks the ICE Semiconductor Index. Both are passively managed. Over the past 10 years, LTL returned 7.45%/yr vs 64.56%/yr for SOXL. At a 0.42 correlation, their price movements are largely independent. LTL charges 0.95%/yr vs 0.75%/yr for SOXL.

Performance

LTL vs. SOXL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Telecommunications (LTL) 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, LTL achieves a -19.03% return, which is significantly lower than SOXL's 450.61% return. Over the past 10 years, LTL has underperformed SOXL with an annualized return of 7.45%, while SOXL has yielded a comparatively higher 64.56% annualized return.

LTL

• 1D: 0.73%
• 1M: -13.91%
• YTD: -19.03%
• 6M: -18.57%
• 1Y: 1.21%
• 3Y*: 31.21%
• 5Y*: 14.70%
• 10Y*: 7.45%

SOXL

• 1D: -23.06%
• 1M: 21.44%
• YTD: 450.61%
• 6M: 429.57%
• 1Y: 976.09%
• 3Y*: 120.84%
• 5Y*: 42.16%
• 10Y*: 64.56%

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

LTL vs. SOXL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LTL ProShares Ultra Telecommunications	-19.03%	37.06%	65.15%	62.03%	-41.14%	40.42%	-3.25%	30.16%	-23.44%	-26.85%
SOXL Direxion Daily Semiconductor Bull 3X ETF	450.61%	54.91%	-12.31%	226.98%	-85.66%	118.84%	70.04%	231.83%	-39.07%	141.71%

Correlation

The correlation between LTL and SOXL is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (3Y) Calculated over the trailing 3-year period	0.45
Correlation (5Y) Calculated over the trailing 5-year period	0.55
Correlation (10Y) Calculated over the trailing 10-year period	0.47
Correlation (All Time) Calculated using the full available price history since Mar 11, 2010	0.42

Over the past year, the correlation between LTL and SOXL has dropped to 0.20 - well below their long-term average of 0.42, suggesting their price drivers have been diverging.

LTL vs. SOXL - Sectors Allocation Comparison

Sectors	LTL	SOXL
Communication Services	63.0%	-
Technology	1.1%	100.0%
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

LTL vs. SOXL — Risk / Return Rank

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

LTL

LTL Risk / Return Rank: 9
LTL Sharpe Ratio Rank: 9
LTL Sortino Ratio Rank: 9
LTL Omega Ratio Rank: 9
LTL Calmar Ratio Rank: 9
LTL Martin Ratio Rank: 9

SOXL

SOXL Risk / Return Rank: 96
SOXL Sharpe Ratio Rank: 99
SOXL Sortino Ratio Rank: 90
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.

LTL vs. SOXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Telecommunications (LTL) 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.

	LTL	SOXL	Difference
Sharpe ratio: Return per unit of total volatility	0.04	8.45	-8.40
Sortino ratio: Return per unit of downside risk	0.26	4.03	-3.78
Omega ratio: Gain probability vs. loss probability	1.03	1.58	-0.55
Calmar ratio: Return relative to maximum drawdown	0.05	22.69	-22.63
Martin ratio: Return relative to average drawdown	0.15	72.83	-72.68

LTL vs. SOXL - Sharpe Ratio Comparison

The current LTL Sharpe Ratio is 0.04, which is lower than the SOXL Sharpe Ratio of 8.45. The chart below compares the historical Sharpe Ratios of LTL 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

LTL vs. SOXL - Drawdown Comparison

The maximum LTL drawdown since its inception was -80.20%, smaller than the maximum SOXL drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for LTL and SOXL.

Drawdown Indicators

	LTL	SOXL	Difference
Max Drawdown Largest peak-to-trough decline	-80.20%	-90.46%	+10.26%
Max Drawdown (1Y) Largest decline over 1 year	-22.45%	-43.47%	+21.02%
Max Drawdown (3Y) Largest decline over 3 years	-34.37%	-87.88%	+53.51%
Max Drawdown (5Y) Largest decline over 5 years	-52.60%	-90.46%	+37.86%
Max Drawdown (10Y) Largest decline over 10 years	-64.15%	-90.46%	+26.31%
Current Drawdown Current decline from peak	-21.88%	-23.06%	+1.18%
Average Drawdown Average peak-to-trough decline	-28.62%	-34.95%	+6.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.23%	13.52%	-5.29%

Volatility

LTL vs. SOXL - Volatility Comparison

The current volatility for ProShares Ultra Telecommunications (LTL) is 9.64%, while Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a volatility of 68.39%. This indicates that LTL 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

	LTL	SOXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.64%	68.39%	-58.75%
Volatility (6M) Calculated over the trailing 6-month period	20.70%	99.84%	-79.14%
Volatility (1Y) Calculated over the trailing 1-year period	27.40%	116.79%	-89.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.70%	110.35%	-75.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.97%	100.62%	-63.65%

LTL vs. SOXL - Expense Ratio Comparison

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

Dividends

LTL vs. SOXL - Dividend Comparison

LTL's dividend yield for the trailing twelve months is around 1.00%, more than SOXL's 0.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LTL ProShares Ultra Telecommunications	1.00%	0.64%	0.29%	0.97%	2.01%	1.14%	1.57%	0.83%	1.99%	1.96%	0.70%	1.55%
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%	0.00%

Frequently Asked Questions

Can I hold both LTL and SOXL in my portfolio?

LTL and SOXL have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LTL or SOXL?

SOXL has higher volatility (68.39%) compared to LTL (9.64%). In terms of maximum drawdown, LTL dropped -80.20% vs SOXL's -90.46%.

Which ETF is better, LTL or SOXL?

On 10-year performance, SOXL leads with 64.56% vs 7.45% for LTL. On fees, SOXL is cheaper at 0.75% per year. On volatility, LTL has been the lower-risk option at 9.64%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LTL or SOXL?

Over the 10-year period, SOXL has performed better with a 64.56% return vs 7.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LTL or SOXL?

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

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

LTL has the higher dividend yield at 1.00%, compared with 0.03% for SOXL.

What is the main difference between LTL and SOXL?

LTL tracks Dow Jones U.S. Select Telecommunications Index (200%), while SOXL tracks ICE Semiconductor Index. They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for LTL and 0.75% for SOXL.

Which has better risk-adjusted returns?

SOXL currently has the higher Sharpe Ratio (8.45 vs 0.04), 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.