MLPR vs. SOXL
MLPR (ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both Leveraged Equities funds - MLPR tracks the Alerian MLP Index (150%) while SOXL tracks the ICE Semiconductor Index. Both are passively managed. Over the past 5 years, MLPR returned 25.58%/yr vs 42.16%/yr for SOXL. At a 0.28 correlation, their price movements are largely independent. MLPR charges 0.95%/yr vs 0.75%/yr for SOXL.
Performance
MLPR vs. SOXL - Performance Comparison
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Returns By Period
In the year-to-date period, MLPR achieves a 24.85% return, which is significantly lower than SOXL's 450.61% return.
MLPR
- 1D
- 2.97%
- 1M
- -9.79%
- YTD
- 24.85%
- 6M
- 24.33%
- 1Y
- 28.25%
- 3Y*
- 31.47%
- 5Y*
- 25.58%
- 10Y*
- —
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%
MLPR vs. SOXL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
MLPR ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN | 24.85% | 9.83% | 31.57% | 35.87% | 41.04% | 57.33% | -7.10% |
SOXL Direxion Daily Semiconductor Bull 3X ETF | 450.61% | 54.91% | -12.31% | 226.98% | -85.66% | 118.84% | 188.13% |
Correlation
The correlation between MLPR and SOXL is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Jun 3, 2020 | 0.28 |
The correlation between MLPR and SOXL shifts across timeframes, from -0.01 (1 year) to 0.28 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
MLPR vs. SOXL — Risk / Return Rank
MLPR
SOXL
MLPR vs. SOXL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN (MLPR) 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.
| MLPR | SOXL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -7.10 | ||
| Sortino ratioReturn per unit of downside risk | -2.19 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.58 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | 2.03 | 22.69 | -20.66 |
| Martin ratioReturn relative to average drawdown | 5.88 | 72.83 | -66.95 |
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Drawdowns
MLPR vs. SOXL - Drawdown Comparison
The maximum MLPR drawdown since its inception was -48.98%, smaller than the maximum SOXL drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for MLPR and SOXL.
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Drawdown Indicators
| MLPR | SOXL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.98% | -90.46% | +41.48% |
Max Drawdown (1Y)Largest decline over 1 year | -13.97% | -43.47% | +29.50% |
Max Drawdown (3Y)Largest decline over 3 years | -24.45% | -87.88% | +63.43% |
Max Drawdown (5Y)Largest decline over 5 years | -28.66% | -90.46% | +61.80% |
Max Drawdown (10Y)Largest decline over 10 years | — | -90.46% | — |
Current DrawdownCurrent decline from peak | -10.62% | -23.06% | +12.44% |
Average DrawdownAverage peak-to-trough decline | -8.94% | -34.95% | +26.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.82% | 13.52% | -8.70% |
Volatility
MLPR vs. SOXL - Volatility Comparison
The current volatility for ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN (MLPR) is 8.29%, while Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a volatility of 68.39%. This indicates that MLPR 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
| MLPR | SOXL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.29% | 68.39% | -60.10% |
Volatility (6M)Calculated over the trailing 6-month period | 15.56% | 99.84% | -84.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.11% | 116.79% | -95.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.40% | 110.35% | -80.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.71% | 100.62% | -66.91% |
MLPR vs. SOXL - Expense Ratio Comparison
MLPR has a 0.95% expense ratio, which is higher than SOXL's 0.75% expense ratio.
Dividends
MLPR vs. SOXL - Dividend Comparison
MLPR's dividend yield for the trailing twelve months is around 9.36%, more than SOXL's 0.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
MLPR ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN | 9.36% | 10.85% | 9.57% | 10.08% | 7.49% | 10.69% | 4.21% | 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
MLPR and SOXL have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXL has higher volatility (68.39%) compared to MLPR (8.29%). In terms of maximum drawdown, MLPR dropped -48.98% vs SOXL's -90.46%.
On 5-year performance, SOXL leads with 42.16% vs 25.58% for MLPR. On fees, SOXL is cheaper at 0.75% per year. On volatility, MLPR has been the lower-risk option at 8.29%. 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 42.16% return vs 25.58%. 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 0.95% for MLPR.
MLPR has the higher dividend yield at 9.36%, compared with 0.03% for SOXL.
MLPR tracks Alerian MLP Index (150%), while SOXL tracks ICE Semiconductor Index. They also come from different issuers: UBS and Direxion. Their fees differ too: 0.95% for MLPR and 0.75% for SOXL.
SOXL currently has the higher Sharpe Ratio (8.45 vs 1.35), 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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