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MEXX vs. SOXL
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MEXX vs. SOXL

Last updated Aug 5, 2026
Documentation

MEXX (Direxion Daily MSCI Mexico Bull 3X Shares) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both Leveraged Equities funds from Direxion - MEXX tracks the MSCI Mexico IMI 25-50 Net Total Return USD Index (300%) while SOXL tracks the NYSE Semiconductor Index. Both are passively managed. Over the past 5 years, MEXX returned 13.32%/yr vs 25.04%/yr for SOXL. Their 0.41 correlation means their historical movements had little consistent relationship. MEXX charges 1.21%/yr vs 0.75%/yr for SOXL.

Performance

MEXX vs. SOXL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily MSCI Mexico Bull 3X Shares (MEXX) and Direxion Daily Semiconductor Bull 3X ETF (SOXL). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, MEXX achieves a 20.88% return, which is significantly lower than SOXL's 232.86% return.

MEXX

1D
1.77%
1M
4.39%
6M
-14.98%
YTD
20.88%
1Y
90.68%
3Y*
2.34%
5Y*
13.32%
10Y*
—
ALL TIME*
-5.35%

SOXL

1D
19.87%
1M
-22.91%
6M
128.59%
YTD
232.86%
1Y
459.76%
3Y*
78.93%
5Y*
25.04%
10Y*
50.55%
ALL TIME*
39.66%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

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

MEXX

Direxion Daily MSCI Mexico Bull 3X Shares
$356.64K$322.08K$550.62K

SOXL

Direxion Daily Semiconductor Bull 3X ETF
$11.04B$10.45B$11.85B

MEXX vs. SOXL - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
MEXX
Direxion Daily MSCI Mexico Bull 3X Shares		20.88%181.49%-73.13%115.60%-12.96%52.75%-53.63%21.41%-51.95%-15.26%
SOXL
Direxion Daily Semiconductor Bull 3X ETF		232.86%54.91%-12.31%226.98%-85.66%118.84%70.04%231.83%-39.07%81.26%

Correlation

The correlation between MEXX and SOXL is 0.41, which is low. Their historical price movements had little consistent relationship.

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

0.41

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

0.38

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

0.43

Correlation (All Time)
Calculated using the full available price history since May 3, 2017

0.41

MEXX vs. SOXL - Sectors Allocation Comparison

Sectors
MEXX
SOXL

Consumer Defensive

24.6%

-

Basic Materials

24.1%

-

Financial Services

19.1%

-

Industrials

13.6%

-

Communication Services

10.4%

-

Real Estate

6.5%

-

Consumer Cyclical

1.3%

-

Healthcare

0.5%

-

Energy

-

-

Technology

-

100.0%

Utilities

-

-

Consumer Defensive

MEXX
24.6%
SOXL

-

Basic Materials

MEXX
24.1%
SOXL

-

Financial Services

MEXX
19.1%
SOXL

-

Industrials

MEXX
13.6%
SOXL

-

Communication Services

MEXX
10.4%
SOXL

-

Real Estate

MEXX
6.5%
SOXL

-

Consumer Cyclical

MEXX
1.3%
SOXL

-

Healthcare

MEXX
0.5%
SOXL

-

Energy

MEXX

-

SOXL

-

Technology

MEXX

-

SOXL
100.0%

Utilities

MEXX

-

SOXL

-

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Direxion Daily MSCI Mexico Bull 3X Shares

Direxion Daily Semiconductor Bull 3X ETF

Often compared with MEXX:
MEXX vs. EWWMEXX vs. FLMXMEXX vs. QQQMEXX vs. SPYMEXX vs. QLDMEXX vs. FZROXMEXX vs. TQQQ
Often compared with SOXL:
SOXL vs. TQQQSOXL vs. SOXXSOXL vs. SOXSSOXL vs. USDSOXL vs. TECLSOXL vs. NVDLSOXL vs. SPY

Return for Risk

MEXX vs. SOXL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
MEXX
MEXX Risk / Return Rank: 5050
Overall Rank
MEXX Sharpe Ratio Rank: 5050
Sharpe Ratio Rank
MEXX Sortino Ratio Rank: 4848
Sortino Ratio Rank
MEXX Omega Ratio Rank: 4747
Omega Ratio Rank
MEXX Calmar Ratio Rank: 5959
Calmar Ratio Rank
MEXX Martin Ratio Rank: 4646
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.

MEXX vs. SOXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily MSCI Mexico Bull 3X Shares (MEXX) 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.

MEXXSOXLDifference
Sharpe ratioReturn per unit of total volatility
1.40
3.52

-2.11

Sortino ratioReturn per unit of downside risk
1.97
2.94

-0.97

Omega ratioGain probability vs. loss probability

1.25

1.40

-0.15

Calmar ratioReturn relative to maximum drawdown

2.35

6.68

-4.33

Martin ratioReturn relative to average drawdown

5.72

22.38

-16.65

MEXX vs. SOXL - Sharpe Ratio Comparison

The current MEXX Sharpe Ratio is 1.40, which is lower than the SOXL Sharpe Ratio of 3.52. The chart below compares the historical Sharpe Ratios of MEXX 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

MEXX vs. SOXL - Drawdown Comparison

The maximum MEXX drawdown since its inception was -95.58%, which is greater than SOXL's maximum drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for MEXX and SOXL.

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Drawdown Indicators

MEXXSOXLDifference

Max Drawdown

Largest peak-to-trough decline

-95.58%

-90.46%

-5.12%

Max Drawdown (1Y)

Largest decline over 1 year

-38.77%

-69.42%

+30.65%

Max Drawdown (3Y)

Largest decline over 3 years

-74.92%

-87.88%

+12.96%

Max Drawdown (5Y)

Largest decline over 5 years

-74.92%

-90.46%

+15.54%

Max Drawdown (10Y)

Largest decline over 10 years

—

-90.46%

—

Current Drawdown

Current decline from peak

-56.03%

-53.49%

-2.54%

Average Drawdown

Average peak-to-trough decline

-65.37%

-35.02%

-30.35%

Ulcer Index

Depth and duration of drawdowns from previous peaks

15.90%

20.68%

-4.78%

Volatility

MEXX vs. SOXL - Volatility Comparison

The current volatility for Direxion Daily MSCI Mexico Bull 3X Shares (MEXX) is 14.88%, while Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a volatility of 53.63%. This indicates that MEXX 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

MEXXSOXLDifference

Volatility (1M)

Calculated over the trailing 1-month period

14.88%

53.63%

-38.75%

Volatility (6M)

Calculated over the trailing 6-month period

53.04%

115.96%

-62.92%

Volatility (1Y)

Calculated over the trailing 1-year period

64.99%

131.85%

-66.86%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

66.99%

113.58%

-46.59%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

74.18%

102.32%

-28.14%

MEXX vs. SOXL - Expense Ratio Comparison

MEXX has a 1.21% expense ratio, which is higher than SOXL's 0.75% expense ratio.

Dividends

MEXX vs. SOXL - Dividend Comparison

MEXX's dividend yield for the trailing twelve months is around 1.39%, more than SOXL's 0.01% yield.

PositionTTM2025202420232022202120202019201820172016
MEXX
Direxion Daily MSCI Mexico Bull 3X Shares		1.39%1.60%5.81%1.66%1.33%0.63%0.12%1.60%5.61%0.27%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

MEXX and SOXL have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SOXL has higher volatility (53.63%) compared to MEXX (14.88%). In terms of maximum drawdown, MEXX dropped -95.58% vs SOXL's -90.46%.

On 5-year performance, SOXL leads with 25.04% vs 13.32% for MEXX. On fees, SOXL is cheaper at 0.75% per year. On volatility, MEXX has been the lower-risk option at 14.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, SOXL has performed better with a 25.04% return vs 13.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SOXL is cheaper with a 0.75% expense ratio, compared with 1.21% for MEXX.

MEXX has the higher dividend yield at 1.39%, compared with 0.01% for SOXL.

MEXX tracks MSCI Mexico IMI 25-50 Net Total Return USD Index (300%), while SOXL tracks NYSE Semiconductor Index. Their fees differ too: 1.21% for MEXX and 0.75% for SOXL.

SOXL currently has the higher Sharpe Ratio (3.52 vs 1.40), 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.

Portfolio Optimizer

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