OOQB vs. SOXL
OOQB (Volatility Shares One+One Nasdaq-100® and Bitcoin ETF) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both exchange-traded funds - OOQB is a Nasdaq-100 fund actively managed by Volatility Shares, while SOXL is a Leveraged Equities fund tracking the ICE Semiconductor Index. OOQB is actively managed, while SOXL is passively managed. Over the past year, OOQB returned -27.35% vs 1438.30% for SOXL. A 0.58 correlation means they provide meaningful diversification when combined. Both charge a 0.75% expense ratio.
Performance
OOQB vs. SOXL - Performance Comparison
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Returns By Period
In the year-to-date period, OOQB achieves a -18.43% return, which is significantly lower than SOXL's 567.48% return.
OOQB
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- -18.43%
- 6M
- -24.99%
- 1Y
- -27.35%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SOXL
- 1D
- 5.34%
- 1M
- 119.95%
- YTD
- 567.48%
- 6M
- 502.28%
- 1Y
- 1,438.30%
- 3Y*
- 135.13%
- 5Y*
- 48.72%
- 10Y*
- 65.39%
OOQB vs. SOXL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
OOQB Volatility Shares One+One Nasdaq-100® and Bitcoin ETF | -18.43% | -13.30% |
SOXL Direxion Daily Semiconductor Bull 3X ETF | 567.48% | 34.43% |
Correlation
The correlation between OOQB and SOXL is 0.56, 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 | 0.56 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025 | 0.58 |
The correlation between OOQB and SOXL has been stable across timeframes, ranging from 0.56 to 0.58 - a consistent structural relationship.
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Return for Risk
OOQB vs. SOXL — Risk / Return Rank
OOQB
SOXL
OOQB vs. SOXL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Volatility Shares One+One Nasdaq-100® and Bitcoin ETF (OOQB) 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.
| OOQB | SOXL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -14.82 | ||
| Sortino ratioReturn per unit of downside risk | -5.67 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.72 | -0.78 |
| Calmar ratioReturn relative to maximum drawdown | -0.51 | 33.47 | -33.99 |
| Martin ratioReturn relative to average drawdown | -0.91 | 114.79 | -115.70 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| OOQB | SOXL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.53 | 14.28 | -14.82 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.46 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.66 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.41 | 0.52 | -0.92 |
Drawdowns
OOQB vs. SOXL - Drawdown Comparison
The maximum OOQB drawdown since its inception was -53.44%, smaller than the maximum SOXL drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for OOQB and SOXL.
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Drawdown Indicators
| OOQB | SOXL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.44% | -90.46% | +37.02% |
Max Drawdown (1Y)Largest decline over 1 year | -53.44% | -43.47% | -9.97% |
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 DrawdownCurrent decline from peak | -43.69% | 0.00% | -43.69% |
Average DrawdownAverage peak-to-trough decline | -23.26% | -35.01% | +11.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.11% | 12.65% | +17.46% |
Volatility
OOQB vs. SOXL - Volatility Comparison
The current volatility for Volatility Shares One+One Nasdaq-100® and Bitcoin ETF (OOQB) is 0.00%, while Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a volatility of 40.82%. This indicates that OOQB 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
| OOQB | SOXL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.00% | 40.82% | -40.82% |
Volatility (6M)Calculated over the trailing 6-month period | 39.39% | 81.29% | -41.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 51.57% | 102.11% | -50.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 58.12% | 107.25% | -49.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 58.12% | 99.04% | -40.92% |
OOQB vs. SOXL - Expense Ratio Comparison
Both OOQB and SOXL have an expense ratio of 0.75%.
Dividends
OOQB vs. SOXL - Dividend Comparison
OOQB's dividend yield for the trailing twelve months is around 11.62%, more than SOXL's 0.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
OOQB Volatility Shares One+One Nasdaq-100® and Bitcoin ETF | 11.62% | 9.53% | 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 | 0.03% | 0.34% | 1.18% | 0.51% | 1.07% | 0.04% | 0.05% | 0.38% | 1.30% | 0.09% | 4.84% |
Frequently Asked Questions
OOQB and SOXL have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXL has higher volatility (40.82%) compared to OOQB (0.00%). In terms of maximum drawdown, OOQB dropped -53.44% vs SOXL's -90.46%.
On 1-year performance, SOXL leads with 1438.30% vs -27.35% for OOQB. Both ETFs have the same 0.75% expense ratio. On volatility, OOQB has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SOXL has performed better with a 1438.30% return vs -27.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
OOQB and SOXL have the same expense ratio: 0.75% per year.
OOQB has the higher dividend yield at 11.62%, compared with 0.03% for SOXL.
OOQB is categorized as Nasdaq-100, while SOXL is Leveraged Equities. They also come from different issuers: Volatility Shares and Direxion.
SOXL currently has the higher Sharpe Ratio (14.28 vs -0.53), 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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