MVLL vs. SOXL

Last updated Aug 2, 2026

MVLL (GraniteShares 2x Long MRVL Daily ETF) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both Leveraged Equities funds - MVLL tracks the Marvell Technology Inc. (MRVL) while SOXL tracks the NYSE Semiconductor Index. Both are passively managed. Over the past year, MVLL returned 195.07% vs 376.55% for SOXL. Their 0.74 correlation means they have sometimes moved together and sometimes differently. MVLL charges 1.50%/yr vs 0.75%/yr for SOXL.

Performance

MVLL vs. SOXL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long MRVL Daily ETF (MVLL) 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, MVLL achieves a 183.32% return, which is significantly higher than SOXL's 172.95% return.

MVLL

• 1D: 4.74%
• 1M: -46.40%
• 6M: 236.40%
• YTD: 183.32%
• 1Y: 195.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 97.66%

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

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MVLL GraniteShares 2x Long MRVL Daily ETF	$64.72M	$85.12M	$269.82M
SOXL Direxion Daily Semiconductor Bull 3X ETF	$10.60B	$10.77B	$11.72B

MVLL vs. SOXL - Yearly Performance Comparison

	2026 (YTD)	2025
MVLL GraniteShares 2x Long MRVL Daily ETF	183.32%	-8.44%
SOXL Direxion Daily Semiconductor Bull 3X ETF	172.95%	120.00%

Correlation

The correlation between MVLL and SOXL is 0.75, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.75
Correlation (All Time) Calculated using the full available price history since Mar 7, 2025	0.74

The correlation between MVLL and SOXL has been stable across timeframes, ranging from 0.74 to 0.75 - a consistent structural relationship.

MVLL vs. SOXL - Sectors Allocation Comparison

Sectors	MVLL	SOXL
Technology	66.6%	100.0%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

MVLL vs. SOXL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MVLL

MVLL Risk / Return Rank: 54
MVLL Sharpe Ratio Rank: 40
MVLL Sortino Ratio Rank: 66
MVLL Omega Ratio Rank: 67
MVLL Calmar Ratio Rank: 54
MVLL Martin Ratio Rank: 45

SOXL

SOXL Risk / Return Rank: 90
SOXL Sharpe Ratio Rank: 95
SOXL Sortino Ratio Rank: 83
SOXL Omega Ratio Rank: 85
SOXL Calmar Ratio Rank: 95
SOXL Martin Ratio Rank: 94

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.

MVLL vs. SOXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long MRVL Daily ETF (MVLL) 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.

	MVLL	SOXL	Difference
Sharpe ratio: Return per unit of total volatility	0.98	2.77	-1.79
Sortino ratio: Return per unit of downside risk	2.17	2.70	-0.54
Omega ratio: Gain probability vs. loss probability	1.28	1.36	-0.08
Calmar ratio: Return relative to maximum drawdown	1.94	5.22	-3.28
Martin ratio: Return relative to average drawdown	5.10	18.04	-12.94

MVLL vs. SOXL - Sharpe Ratio Comparison

The current MVLL Sharpe Ratio is 0.98, which is lower than the SOXL Sharpe Ratio of 2.77. The chart below compares the historical Sharpe Ratios of MVLL 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

MVLL vs. SOXL - Drawdown Comparison

The maximum MVLL drawdown since its inception was -78.87%, smaller than the maximum SOXL drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for MVLL and SOXL.

Drawdown Indicators

	MVLL	SOXL	Difference
Max Drawdown Largest peak-to-trough decline	-78.87%	-90.46%	+11.59%
Max Drawdown (1Y) Largest decline over 1 year	-78.87%	-69.42%	-9.45%
Max Drawdown (3Y) Largest decline over 3 years	—	-87.88%	—
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	-72.55%	-61.86%	-10.69%
Average Drawdown Average peak-to-trough decline	-25.03%	-35.00%	+9.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	30.22%	20.04%	+10.18%

Volatility

MVLL vs. SOXL - Volatility Comparison

GraniteShares 2x Long MRVL Daily ETF (MVLL) has a higher volatility of 55.64% compared to Direxion Daily Semiconductor Bull 3X ETF (SOXL) at 52.68%. This indicates that MVLL's price experiences larger fluctuations and is considered to be riskier than SOXL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MVLL	SOXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	55.64%	52.68%	+2.96%
Volatility (6M) Calculated over the trailing 6-month period	129.12%	115.51%	+13.61%
Volatility (1Y) Calculated over the trailing 1-year period	155.64%	130.99%	+24.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	151.11%	113.21%	+37.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	151.11%	102.11%	+49.00%

MVLL vs. SOXL - Expense Ratio Comparison

MVLL has a 1.50% expense ratio, which is higher than SOXL's 0.75% expense ratio.

Dividends

MVLL vs. SOXL - Dividend Comparison

MVLL has not paid dividends to shareholders, while SOXL's dividend yield for the trailing twelve months is around 0.01%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
MVLL GraniteShares 2x Long MRVL Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%	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

Can I hold both MVLL and SOXL in my portfolio?

MVLL and SOXL have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MVLL or SOXL?

MVLL has higher volatility (55.64%) compared to SOXL (52.68%). In terms of maximum drawdown, MVLL dropped -78.87% vs SOXL's -90.46%.

Which ETF is better, MVLL or SOXL?

On 1-year performance, SOXL leads with 376.55% vs 195.07% for MVLL. On fees, SOXL is cheaper at 0.75% per year. On volatility, SOXL has been the lower-risk option at 52.68%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MVLL or SOXL?

Over the 1-year period, SOXL has performed better with a 376.55% return vs 195.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MVLL or SOXL?

SOXL is cheaper with a 0.75% expense ratio, compared with 1.50% for MVLL.

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

SOXL has the higher dividend yield at 0.01%, compared with 0.00% for MVLL.

What is the main difference between MVLL and SOXL?

MVLL tracks Marvell Technology Inc. (MRVL), while SOXL tracks NYSE Semiconductor Index. They also come from different issuers: GraniteShares and Direxion. Their fees differ too: 1.50% for MVLL and 0.75% for SOXL.

Which has better risk-adjusted returns?

SOXL currently has the higher Sharpe Ratio (2.77 vs 0.98), 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.