NVDL vs. SOXL

Last updated Jun 3, 2026

NVDL (GraniteShares 2x Long NVDA Daily ETF) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both Leveraged Equities funds. NVDL is actively managed, while SOXL is passively managed. Over the past 3 years, NVDL returned 114.97%/yr vs 131.09%/yr for SOXL. A 0.69 correlation means they provide meaningful diversification when combined. NVDL charges 1.15%/yr vs 0.75%/yr for SOXL.

Performance

NVDL vs. SOXL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long NVDA Daily ETF (NVDL) 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, NVDL achieves a 29.19% return, which is significantly lower than SOXL's 533.64% return.

NVDL

• 1D: -1.46%
• 1M: 23.29%
• YTD: 29.19%
• 6M: 34.48%
• 1Y: 109.97%
• 3Y*: 114.97%
• 5Y*: —
• 10Y*: —

SOXL

• 1D: 17.31%
• 1M: 104.23%
• YTD: 533.64%
• 6M: 508.04%
• 1Y: 1,481.30%
• 3Y*: 131.09%
• 5Y*: 49.21%
• 10Y*: 64.53%

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

NVDL vs. SOXL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
NVDL GraniteShares 2x Long NVDA Daily ETF	29.19%	32.57%	344.58%	432.18%	-28.32%
SOXL Direxion Daily Semiconductor Bull 3X ETF	533.64%	54.91%	-12.31%	226.98%	-28.80%

Correlation

The correlation between NVDL and SOXL is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (All Time) Calculated using the full available price history since Dec 14, 2022	0.69

The correlation between NVDL and SOXL shifts across timeframes, from 0.54 (1 year) to 0.69 (all time), reflecting how their relationship changes across market environments.

NVDL vs. SOXL - Sectors Allocation Comparison

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

Return for Risk

NVDL vs. SOXL — Risk / Return Rank

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

NVDL

NVDL Risk / Return Rank: 45
NVDL Sharpe Ratio Rank: 46
NVDL Sortino Ratio Rank: 44
NVDL Omega Ratio Rank: 40
NVDL Calmar Ratio Rank: 55
NVDL Martin Ratio Rank: 40

SOXL

SOXL Risk / Return Rank: 98
SOXL Sharpe Ratio Rank: 100
SOXL Sortino Ratio Rank: 95
SOXL Omega Ratio Rank: 95
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.

NVDL vs. SOXL - Risk-Adjusted Trends Comparison

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

	NVDL	SOXL	Difference
Sharpe ratio Return per unit of total volatility	1.63	14.69	-13.06
Sortino ratio Return per unit of downside risk	2.20	5.22	-3.02
Omega ratio Gain probability vs. loss probability	1.26	1.73	-0.46
Calmar ratio Return relative to maximum drawdown	2.80	35.72	-32.92
Martin ratio Return relative to average drawdown	6.43	122.73	-116.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NVDL vs. SOXL - Sharpe Ratio Comparison

The current NVDL Sharpe Ratio is 1.63, which is lower than the SOXL Sharpe Ratio of 14.69. The chart below compares the historical Sharpe Ratios of NVDL 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.

Sharpe Ratios by Period

	NVDL	SOXL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.63	14.69	-13.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.46	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.65	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.84	0.51	+1.33

Drawdowns

NVDL vs. SOXL - Drawdown Comparison

The maximum NVDL drawdown since its inception was -67.55%, smaller than the maximum SOXL drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for NVDL and SOXL.

Drawdown Indicators

	NVDL	SOXL	Difference
Max Drawdown Largest peak-to-trough decline	-67.55%	-90.46%	+22.91%
Max Drawdown (1Y) Largest decline over 1 year	-42.23%	-43.47%	+1.24%
Max Drawdown (3Y) Largest decline over 3 years	-67.55%	-87.88%	+20.33%
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	-11.89%	0.00%	-11.89%
Average Drawdown Average peak-to-trough decline	-16.96%	-35.02%	+18.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.35%	12.65%	+5.70%

Volatility

NVDL vs. SOXL - Volatility Comparison

The current volatility for GraniteShares 2x Long NVDA Daily ETF (NVDL) is 23.30%, while Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a volatility of 41.22%. This indicates that NVDL 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

	NVDL	SOXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	23.30%	41.22%	-17.92%
Volatility (6M) Calculated over the trailing 6-month period	50.31%	81.21%	-30.90%
Volatility (1Y) Calculated over the trailing 1-year period	67.87%	102.08%	-34.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	90.38%	107.26%	-16.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	90.38%	99.05%	-8.67%

NVDL vs. SOXL - Expense Ratio Comparison

NVDL has a 1.15% expense ratio, which is higher than SOXL's 0.75% expense ratio.

Dividends

NVDL vs. SOXL - Dividend Comparison

NVDL has not paid dividends to shareholders, while SOXL's dividend yield for the trailing twelve months is around 0.03%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
NVDL GraniteShares 2x Long NVDA Daily ETF	0.00%	0.00%	0.00%	11.29%	0.00%	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 NVDL and SOXL in my portfolio?

NVDL and SOXL have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NVDL or SOXL?

SOXL has higher volatility (41.22%) compared to NVDL (23.30%). In terms of maximum drawdown, NVDL dropped -67.55% vs SOXL's -90.46%.

Which ETF is better, NVDL or SOXL?

On 3-year performance, SOXL leads with 131.09% vs 114.97% for NVDL. On fees, SOXL is cheaper at 0.75% per year. On volatility, NVDL has been the lower-risk option at 23.30%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NVDL or SOXL?

Over the 3-year period, SOXL has performed better with a 131.09% return vs 114.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NVDL or SOXL?

SOXL is cheaper with a 0.75% expense ratio, compared with 1.15% for NVDL.

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

SOXL has the higher dividend yield at 0.03%, compared with 0.00% for NVDL.

What is the main difference between NVDL and SOXL?

They also come from different issuers: GraniteShares and Direxion. Their fees differ too: 1.15% for NVDL and 0.75% for SOXL.

Which has better risk-adjusted returns?

SOXL currently has the higher Sharpe Ratio (14.69 vs 1.63), 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.