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MSFU vs. SOXL
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MSFU vs. SOXL

Last updated Aug 2, 2026
Documentation

MSFU (Direxion Daily MSFT Bull 2X Shares) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both Leveraged Equities funds from Direxion - MSFU tracks the Microsoft Corporation (200%) while SOXL tracks the NYSE Semiconductor Index. Both are passively managed. Over the past 3 years, MSFU returned 3.90%/yr vs 60.01%/yr for SOXL. Their 0.44 correlation means their historical movements had little consistent relationship. MSFU charges 0.98%/yr vs 0.75%/yr for SOXL.

Performance

MSFU vs. SOXL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily MSFT Bull 2X Shares (MSFU) and Direxion Daily Semiconductor Bull 3X ETF (SOXL). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, MSFU achieves a -18.87% return, which is significantly lower than SOXL's 172.95% return.

MSFU

1D
5.90%
1M
37.88%
6M
4.85%
YTD
-18.87%
1Y
-34.49%
3Y*
3.90%
5Y*
—
10Y*
—
ALL TIME*
11.80%

SOXL

1D
0.00%
1M
-36.78%
6M
85.66%
YTD
172.95%
1Y
376.55%
3Y*
60.01%
5Y*
21.65%
10Y*
48.63%
ALL TIME*
38.01%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

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

MSFU

Direxion Daily MSFT Bull 2X Shares
$236.35M$210.49M$216.20M

SOXL

Direxion Daily Semiconductor Bull 3X ETF
$10.60B$10.77B$11.72B

MSFU vs. SOXL - Yearly Performance Comparison

2026 (YTD)2025202420232022
MSFU
Direxion Daily MSFT Bull 2X Shares		-18.87%13.36%5.80%83.04%-13.28%
SOXL
Direxion Daily Semiconductor Bull 3X ETF		172.95%54.91%-12.31%226.98%-21.61%

Correlation

The correlation between MSFU and SOXL is 0.07, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

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

0.07

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

0.37

Correlation (All Time)
Calculated using the full available price history since Sep 7, 2022

0.44

Over the past year, the correlation between MSFU and SOXL has dropped to 0.07 - well below their long-term average of 0.44, suggesting their price drivers have been diverging.

MSFU vs. SOXL - Sectors Allocation Comparison

Sectors
MSFU
SOXL

Technology

100.0%
100.0%

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Financial Services

-

-

Healthcare

-

-

Industrials

-

-

Real Estate

-

-

Utilities

-

-

Technology

MSFU
100.0%
SOXL
100.0%

Basic Materials

MSFU

-

SOXL

-

Communication Services

MSFU

-

SOXL

-

Consumer Cyclical

MSFU

-

SOXL

-

Consumer Defensive

MSFU

-

SOXL

-

Energy

MSFU

-

SOXL

-

Financial Services

MSFU

-

SOXL

-

Healthcare

MSFU

-

SOXL

-

Industrials

MSFU

-

SOXL

-

Real Estate

MSFU

-

SOXL

-

Utilities

MSFU

-

SOXL

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Direxion Daily MSFT Bull 2X Shares

Direxion Daily Semiconductor Bull 3X ETF

Often compared with MSFU:
MSFU vs. MSFLMSFU vs. MSFTMSFU vs. MSFXMSFU vs. TQQQMSFU vs. AAPLMSFU vs. QLDMSFU vs. APLY
Often compared with SOXL:
SOXL vs. TQQQSOXL vs. SOXXSOXL vs. SOXSSOXL vs. USDSOXL vs. TECLSOXL vs. NVDLSOXL vs. SPY

Return for Risk

MSFU vs. SOXL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
MSFU
MSFU Risk / Return Rank: 55
Overall Rank
MSFU Sharpe Ratio Rank: 44
Sharpe Ratio Rank
MSFU Sortino Ratio Rank: 55
Sortino Ratio Rank
MSFU Omega Ratio Rank: 44
Omega Ratio Rank
MSFU Calmar Ratio Rank: 44
Calmar Ratio Rank
MSFU Martin Ratio Rank: 55
Martin Ratio Rank
SOXL
SOXL Risk / Return Rank: 9090
Overall Rank
SOXL Sharpe Ratio Rank: 9595
Sharpe Ratio Rank
SOXL Sortino Ratio Rank: 8383
Sortino Ratio Rank
SOXL Omega Ratio Rank: 8585
Omega Ratio Rank
SOXL Calmar Ratio Rank: 9595
Calmar Ratio Rank
SOXL Martin Ratio Rank: 9494
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.

MSFU vs. SOXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily MSFT Bull 2X Shares (MSFU) 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.

MSFUSOXLDifference
Sharpe ratioReturn per unit of total volatility
-0.59
2.77

-3.36

Sortino ratioReturn per unit of downside risk
-0.63
2.70

-3.33

Omega ratioGain probability vs. loss probability

0.92

1.36

-0.44

Calmar ratioReturn relative to maximum drawdown

-0.59

5.22

-5.81

Martin ratioReturn relative to average drawdown

-0.98

18.04

-19.02

MSFU vs. SOXL - Sharpe Ratio Comparison

The current MSFU Sharpe Ratio is -0.59, which is lower than the SOXL Sharpe Ratio of 2.77. The chart below compares the historical Sharpe Ratios of MSFU 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

MSFU vs. SOXL - Drawdown Comparison

The maximum MSFU drawdown since its inception was -62.43%, smaller than the maximum SOXL drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for MSFU and SOXL.

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Drawdown Indicators

MSFUSOXLDifference

Max Drawdown

Largest peak-to-trough decline

-62.43%

-90.46%

+28.03%

Max Drawdown (1Y)

Largest decline over 1 year

-62.43%

-69.42%

+6.99%

Max Drawdown (3Y)

Largest decline over 3 years

-62.43%

-87.88%

+25.45%

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

-37.20%

-61.86%

+24.66%

Average Drawdown

Average peak-to-trough decline

-18.02%

-35.00%

+16.98%

Ulcer Index

Depth and duration of drawdowns from previous peaks

37.69%

20.04%

+17.65%

Volatility

MSFU vs. SOXL - Volatility Comparison

The current volatility for Direxion Daily MSFT Bull 2X Shares (MSFU) is 29.64%, while Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a volatility of 52.68%. This indicates that MSFU 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

MSFUSOXLDifference

Volatility (1M)

Calculated over the trailing 1-month period

29.64%

52.68%

-23.04%

Volatility (6M)

Calculated over the trailing 6-month period

51.29%

115.51%

-64.22%

Volatility (1Y)

Calculated over the trailing 1-year period

63.22%

130.99%

-67.77%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

49.57%

113.21%

-63.64%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

49.57%

102.11%

-52.54%

MSFU vs. SOXL - Expense Ratio Comparison

MSFU has a 0.98% expense ratio, which is higher than SOXL's 0.75% expense ratio.

Dividends

MSFU vs. SOXL - Dividend Comparison

MSFU's dividend yield for the trailing twelve months is around 9.13%, more than SOXL's 0.01% yield.

PositionTTM2025202420232022202120202019201820172016
MSFU
Direxion Daily MSFT Bull 2X Shares		9.13%8.15%7.00%2.11%0.54%0.00%0.00%0.00%0.00%0.00%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

MSFU and SOXL have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SOXL has higher volatility (52.68%) compared to MSFU (29.64%). In terms of maximum drawdown, MSFU dropped -62.43% vs SOXL's -90.46%.

On 3-year performance, SOXL leads with 60.01% vs 3.90% for MSFU. On fees, SOXL is cheaper at 0.75% per year. On volatility, MSFU has been the lower-risk option at 29.64%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 3-year period, SOXL has performed better with a 60.01% return vs 3.90%. 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 0.98% for MSFU.

MSFU has the higher dividend yield at 9.13%, compared with 0.01% for SOXL.

MSFU tracks Microsoft Corporation (200%), while SOXL tracks NYSE Semiconductor Index. Their fees differ too: 0.98% for MSFU and 0.75% for SOXL.

SOXL currently has the higher Sharpe Ratio (2.77 vs -0.59), 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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