QCML vs. SOXL
QCML (GraniteShares 2x Long QCOM Daily ETF) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both Leveraged Equities funds - QCML tracks the Qualcomm Inc. (QCOM) while SOXL tracks the NYSE Semiconductor Index. Both are passively managed. Over the past year, QCML returned -27.37% vs 376.55% for SOXL. Their 0.66 correlation means they have sometimes moved together and sometimes differently. QCML charges 1.50%/yr vs 0.75%/yr for SOXL.
Performance
QCML vs. SOXL - Performance Comparison
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Returns By Period
In the year-to-date period, QCML achieves a -42.41% return, which is significantly lower than SOXL's 172.95% return.
QCML
- 1D
- -5.62%
- 1M
- -31.62%
- 6M
- -25.47%
- YTD
- -42.41%
- 1Y
- -27.37%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -39.56%
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%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $8.37M | $13.54M | $57.95M | |
| $10.60B | $10.77B | $11.72B |
QCML vs. SOXL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
QCML GraniteShares 2x Long QCOM Daily ETF | -42.41% | -16.71% |
SOXL Direxion Daily Semiconductor Bull 3X ETF | 172.95% | 53.62% |
Correlation
The correlation between QCML and SOXL is 0.60, 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. | 0.60 |
Correlation (All Time) Calculated using the full available price history since Feb 13, 2025 | 0.66 |
The correlation between QCML and SOXL has been stable across timeframes, ranging from 0.60 to 0.66 - a consistent structural relationship.
QCML vs. SOXL - Sectors Allocation Comparison
Sectors
QCML
SOXL
Technology
Basic Materials
-
-
Communication Services
-
-
Consumer Cyclical
-
-
Consumer Defensive
-
-
Energy
-
-
Financial Services
-
-
Healthcare
-
-
Industrials
-
-
Real Estate
-
-
Utilities
-
-
Technology
QCML
SOXL
Basic Materials
QCML
-
SOXL
-
Communication Services
QCML
-
SOXL
-
Consumer Cyclical
QCML
-
SOXL
-
Consumer Defensive
QCML
-
SOXL
-
Energy
QCML
-
SOXL
-
Financial Services
QCML
-
SOXL
-
Healthcare
QCML
-
SOXL
-
Industrials
QCML
-
SOXL
-
Real Estate
QCML
-
SOXL
-
Utilities
QCML
-
SOXL
-
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Return for Risk
QCML vs. SOXL — Risk / Return Rank
QCML
SOXL
QCML vs. SOXL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long QCOM Daily ETF (QCML) 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.
| QCML | SOXL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.04 | ||
| Sortino ratioReturn per unit of downside risk | -2.40 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.36 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | -0.41 | 5.22 | -5.62 |
| Martin ratioReturn relative to average drawdown | -0.83 | 18.04 | -18.87 |
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Drawdowns
QCML vs. SOXL - Drawdown Comparison
The maximum QCML drawdown since its inception was -68.76%, smaller than the maximum SOXL drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for QCML and SOXL.
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Drawdown Indicators
| QCML | SOXL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.76% | -90.46% | +21.70% |
Max Drawdown (1Y)Largest decline over 1 year | -68.76% | -69.42% | +0.66% |
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 | -68.76% | -61.86% | -6.90% |
Average DrawdownAverage peak-to-trough decline | -30.79% | -35.00% | +4.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.51% | 20.04% | +13.47% |
Volatility
QCML vs. SOXL - Volatility Comparison
The current volatility for GraniteShares 2x Long QCOM Daily ETF (QCML) is 24.96%, while Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a volatility of 52.68%. This indicates that QCML 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
| QCML | SOXL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 24.96% | 52.68% | -27.72% |
Volatility (6M)Calculated over the trailing 6-month period | 92.90% | 115.51% | -22.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 105.25% | 130.99% | -25.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 99.78% | 113.21% | -13.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 99.78% | 102.11% | -2.33% |
QCML vs. SOXL - Expense Ratio Comparison
QCML has a 1.50% expense ratio, which is higher than SOXL's 0.75% expense ratio.
Dividends
QCML vs. SOXL - Dividend Comparison
QCML 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
QCML GraniteShares 2x Long QCOM 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
QCML and SOXL have a correlation of 0.60, 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 QCML (24.96%). In terms of maximum drawdown, QCML dropped -68.76% vs SOXL's -90.46%.
On 1-year performance, SOXL leads with 376.55% vs -27.37% for QCML. On fees, SOXL is cheaper at 0.75% per year. On volatility, QCML has been the lower-risk option at 24.96%. 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 376.55% return vs -27.37%. 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 1.50% for QCML.
SOXL has the higher dividend yield at 0.01%, compared with 0.00% for QCML.
QCML tracks Qualcomm Inc. (QCOM), while SOXL tracks NYSE Semiconductor Index. They also come from different issuers: GraniteShares and Direxion. Their fees differ too: 1.50% for QCML and 0.75% for SOXL.
SOXL currently has the higher Sharpe Ratio (2.77 vs -0.27), 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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