MSFU vs. SOXL

Last updated Jun 23, 2026

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 (150%) while SOXL tracks the ICE Semiconductor Index. Both are passively managed. Over the past 3 years, MSFU returned -10.09%/yr vs 141.01%/yr for SOXL. At a 0.49 correlation, their price movements are largely independent. MSFU charges 1.04%/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.

Returns By Period

In the year-to-date period, MSFU achieves a -47.25% return, which is significantly lower than SOXL's 615.61% return.

MSFU

• 1D: -6.29%
• 1M: -24.51%
• YTD: -47.25%
• 6M: -47.70%
• 1Y: -49.25%
• 3Y*: -10.09%
• 5Y*: —
• 10Y*: —

SOXL

• 1D: 7.69%
• 1M: 57.83%
• YTD: 615.61%
• 6M: 595.26%
• 1Y: 1,322.96%
• 3Y*: 141.01%
• 5Y*: 51.34%
• 10Y*: 68.93%

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

MSFU vs. SOXL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
MSFU Direxion Daily MSFT Bull 2X Shares	-47.25%	13.36%	5.80%	83.04%	-13.28%
SOXL Direxion Daily Semiconductor Bull 3X ETF	615.61%	54.91%	-12.31%	226.98%	-21.61%

Correlation

The correlation between MSFU and SOXL is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.16
Correlation (3Y) Calculated over the trailing 3-year period	0.42
Correlation (All Time) Calculated using the full available price history since Sep 7, 2022	0.49

Over the past year, the correlation between MSFU and SOXL has dropped to 0.16 - well below their long-term average of 0.49, 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	-	-

Return for Risk

MSFU vs. SOXL — Risk / Return Rank

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

MSFU

MSFU Risk / Return Rank: 2
MSFU Sharpe Ratio Rank: 2
MSFU Sortino Ratio Rank: 2
MSFU Omega Ratio Rank: 1
MSFU Calmar Ratio Rank: 2
MSFU Martin Ratio Rank: 1

SOXL

SOXL Risk / Return Rank: 97
SOXL Sharpe Ratio Rank: 100
SOXL Sortino Ratio Rank: 94
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.

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.

	MSFU	SOXL	Difference
Sharpe ratio: Return per unit of total volatility	-0.95	11.72	-12.67
Sortino ratio: Return per unit of downside risk	-1.34	4.57	-5.91
Omega ratio: Gain probability vs. loss probability	0.83	1.65	-0.83
Calmar ratio: Return relative to maximum drawdown	-0.83	30.78	-31.61
Martin ratio: Return relative to average drawdown	-1.49	99.38	-100.88

MSFU vs. SOXL - Sharpe Ratio Comparison

The current MSFU Sharpe Ratio is -0.95, which is lower than the SOXL Sharpe Ratio of 11.72. 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.

Drawdowns

MSFU vs. SOXL - Drawdown Comparison

The maximum MSFU drawdown since its inception was -59.83%, 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.

Drawdown Indicators

	MSFU	SOXL	Difference
Max Drawdown Largest peak-to-trough decline	-59.83%	-90.46%	+30.63%
Max Drawdown (1Y) Largest decline over 1 year	-59.83%	-43.47%	-16.36%
Max Drawdown (3Y) Largest decline over 3 years	-59.83%	-87.88%	+28.05%
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	-59.17%	0.00%	-59.17%
Average Drawdown Average peak-to-trough decline	-16.94%	-34.95%	+18.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	32.98%	13.44%	+19.54%

Volatility

MSFU vs. SOXL - Volatility Comparison

The current volatility for Direxion Daily MSFT Bull 2X Shares (MSFU) is 22.08%, while Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a volatility of 62.02%. 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.

Volatility by Period

	MSFU	SOXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.08%	62.02%	-39.94%
Volatility (6M) Calculated over the trailing 6-month period	46.50%	96.02%	-49.52%
Volatility (1Y) Calculated over the trailing 1-year period	51.94%	114.45%	-62.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	46.60%	109.85%	-63.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.60%	100.50%	-53.90%

MSFU vs. SOXL - Expense Ratio Comparison

MSFU has a 1.04% 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 15.00%, more than SOXL's 0.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
MSFU Direxion Daily MSFT Bull 2X Shares	15.00%	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	0.03%	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 MSFU and SOXL in my portfolio?

MSFU and SOXL have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MSFU or SOXL?

SOXL has higher volatility (62.02%) compared to MSFU (22.08%). In terms of maximum drawdown, MSFU dropped -59.83% vs SOXL's -90.46%.

Which ETF is better, MSFU or SOXL?

On 3-year performance, SOXL leads with 141.01% vs -10.09% for MSFU. On fees, SOXL is cheaper at 0.75% per year. On volatility, MSFU has been the lower-risk option at 22.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MSFU or SOXL?

Over the 3-year period, SOXL has performed better with a 141.01% return vs -10.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MSFU or SOXL?

SOXL is cheaper with a 0.75% expense ratio, compared with 1.04% for MSFU.

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

MSFU has the higher dividend yield at 15.00%, compared with 0.03% for SOXL.

What is the main difference between MSFU and SOXL?

MSFU tracks Microsoft Corporation (150%), while SOXL tracks ICE Semiconductor Index. Their fees differ too: 1.04% for MSFU and 0.75% for SOXL.

Which has better risk-adjusted returns?

SOXL currently has the higher Sharpe Ratio (11.72 vs -0.95), 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.