QQQM vs. SOXL

Last updated Jun 16, 2026

QQQM (Invesco NASDAQ 100 ETF) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both exchange-traded funds - QQQM is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while SOXL is a Leveraged Equities fund tracking the ICE Semiconductor Index. Both are passively managed. Over the past 5 years, QQQM returned 17.66%/yr vs 48.28%/yr for SOXL. Their correlation of 0.85 suggests significant overlap in exposure. QQQM charges 0.15%/yr vs 0.75%/yr for SOXL.

Performance

QQQM vs. SOXL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco NASDAQ 100 ETF (QQQM) 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, QQQM achieves a 21.25% return, which is significantly lower than SOXL's 548.35% return.

QQQM

• 1D: 3.11%
• 1M: 4.92%
• YTD: 21.25%
• 6M: 22.16%
• 1Y: 41.92%
• 3Y*: 27.28%
• 5Y*: 17.66%
• 10Y*: —

SOXL

• 1D: 16.12%
• 1M: 65.98%
• YTD: 548.35%
• 6M: 561.73%
• 1Y: 1,264.48%
• 3Y*: 122.51%
• 5Y*: 48.28%
• 10Y*: 66.09%

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

QQQM vs. SOXL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
QQQM Invesco NASDAQ 100 ETF	21.25%	20.85%	25.68%	55.01%	-32.52%	27.45%	6.64%
SOXL Direxion Daily Semiconductor Bull 3X ETF	548.35%	54.91%	-12.31%	226.98%	-85.66%	118.84%	46.53%

Correlation

The correlation between QQQM and SOXL is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (All Time) Calculated using the full available price history since Oct 13, 2020	0.85

The correlation between QQQM and SOXL has been stable across timeframes, ranging from 0.81 to 0.86 - a consistent structural relationship.

QQQM vs. SOXL - Sectors Allocation Comparison

Sectors	QQQM	SOXL
Technology	58.7%	100.0%
Communication Services	14.3%	-
Consumer Cyclical	11.4%	-
Consumer Defensive	6.4%	-
Healthcare	3.7%	-
Industrials	2.6%	-
Utilities	1.2%	-
Basic Materials	1.0%	-
Energy	0.5%	-
Financial Services	0.2%	-
Real Estate	0.1%	-

Return for Risk

QQQM vs. SOXL — Risk / Return Rank

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

QQQM

QQQM Risk / Return Rank: 80
QQQM Sharpe Ratio Rank: 85
QQQM Sortino Ratio Rank: 79
QQQM Omega Ratio Rank: 81
QQQM Calmar Ratio Rank: 76
QQQM Martin Ratio Rank: 76

SOXL

SOXL Risk / Return Rank: 97
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.

QQQM vs. SOXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco NASDAQ 100 ETF (QQQM) 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.

	QQQM	SOXL	Difference
Sharpe ratio: Return per unit of total volatility	2.43	11.47	-9.04
Sortino ratio: Return per unit of downside risk	3.13	4.59	-1.46
Omega ratio: Gain probability vs. loss probability	1.43	1.66	-0.23
Calmar ratio: Return relative to maximum drawdown	3.52	29.41	-25.89
Martin ratio: Return relative to average drawdown	13.11	95.64	-82.53

QQQM vs. SOXL - Sharpe Ratio Comparison

The current QQQM Sharpe Ratio is 2.43, which is lower than the SOXL Sharpe Ratio of 11.47. The chart below compares the historical Sharpe Ratios of QQQM 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

QQQM vs. SOXL - Drawdown Comparison

The maximum QQQM drawdown since its inception was -35.04%, smaller than the maximum SOXL drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for QQQM and SOXL.

Drawdown Indicators

	QQQM	SOXL	Difference
Max Drawdown Largest peak-to-trough decline	-35.04%	-90.46%	+55.42%
Max Drawdown (1Y) Largest decline over 1 year	-11.96%	-43.47%	+31.51%
Max Drawdown (3Y) Largest decline over 3 years	-22.70%	-87.88%	+65.18%
Max Drawdown (5Y) Largest decline over 5 years	-35.04%	-90.46%	+55.42%
Max Drawdown (10Y) Largest decline over 10 years	—	-90.46%	—
Current Drawdown Current decline from peak	-0.32%	-2.87%	+2.55%
Average Drawdown Average peak-to-trough decline	-8.22%	-34.98%	+26.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.20%	13.34%	-10.14%

Volatility

QQQM vs. SOXL - Volatility Comparison

The current volatility for Invesco NASDAQ 100 ETF (QQQM) is 8.01%, while Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a volatility of 59.78%. This indicates that QQQM 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

	QQQM	SOXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.01%	59.78%	-51.77%
Volatility (6M) Calculated over the trailing 6-month period	14.01%	94.87%	-80.86%
Volatility (1Y) Calculated over the trailing 1-year period	17.35%	111.67%	-94.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.45%	109.21%	-86.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.25%	100.15%	-77.90%

QQQM vs. SOXL - Expense Ratio Comparison

QQQM has a 0.15% expense ratio, which is lower than SOXL's 0.75% expense ratio.

Dividends

QQQM vs. SOXL - Dividend Comparison

QQQM's dividend yield for the trailing twelve months is around 0.41%, more than SOXL's 0.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
QQQM Invesco NASDAQ 100 ETF	0.41%	0.50%	0.61%	0.65%	0.83%	0.40%	0.16%	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 QQQM and SOXL in my portfolio?

QQQM and SOXL have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QQQM or SOXL?

SOXL has higher volatility (59.78%) compared to QQQM (8.01%). In terms of maximum drawdown, QQQM dropped -35.04% vs SOXL's -90.46%.

Which ETF is better, QQQM or SOXL?

On 5-year performance, SOXL leads with 48.28% vs 17.66% for QQQM. On fees, QQQM is cheaper at 0.15% per year. On volatility, QQQM has been the lower-risk option at 8.01%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQQM or SOXL?

Over the 5-year period, SOXL has performed better with a 48.28% return vs 17.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQQM or SOXL?

QQQM is cheaper with a 0.15% expense ratio, compared with 0.75% for SOXL.

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

QQQM has the higher dividend yield at 0.41%, compared with 0.03% for SOXL.

What is the main difference between QQQM and SOXL?

QQQM is categorized as Nasdaq-100, while SOXL is Leveraged Equities. QQQM tracks NASDAQ-100 Index, while SOXL tracks ICE Semiconductor Index. They also come from different issuers: Invesco and Direxion. Their fees differ too: 0.15% for QQQM and 0.75% for SOXL.

Which has better risk-adjusted returns?

SOXL currently has the higher Sharpe Ratio (11.47 vs 2.43), 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.