QQXL vs. SOXL

Last updated Jun 5, 2026

QQXL (ProShares Ultra QQQ Top 30) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both Leveraged Equities funds. QQXL is actively managed, while SOXL is passively managed. Their correlation of 0.80 suggests significant overlap in exposure. QQXL charges 0.95%/yr vs 0.75%/yr for SOXL.

Performance

QQXL vs. SOXL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra QQQ Top 30 (QQXL) 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, QQXL achieves a 41.81% return, which is significantly lower than SOXL's 525.03% return.

QQXL

• 1D: -1.36%
• 1M: 16.51%
• YTD: 41.81%
• 6M: 39.24%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SOXL

• 1D: -6.36%
• 1M: 82.23%
• YTD: 525.03%
• 6M: 481.71%
• 1Y: 1,280.87%
• 3Y*: 133.82%
• 5Y*: 46.78%
• 10Y*: 64.43%

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

QQXL vs. SOXL - Yearly Performance Comparison

	2026 (YTD)	2025
QQXL ProShares Ultra QQQ Top 30	41.81%	8.66%
SOXL Direxion Daily Semiconductor Bull 3X ETF	525.03%	53.61%

Correlation

The correlation between QQXL and SOXL is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 18, 2025	0.80

Return for Risk

QQXL vs. SOXL — Risk / Return Rank

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

SOXL

SOXL Risk / Return Rank: 97
SOXL Sharpe Ratio Rank: 100
SOXL Sortino Ratio Rank: 95
SOXL Omega Ratio Rank: 94
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.

QQXL vs. SOXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra QQQ Top 30 (QQXL) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	QQXL	SOXL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	12.69	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.44	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.65	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.95	0.51	+1.44

Drawdowns

QQXL vs. SOXL - Drawdown Comparison

The maximum QQXL drawdown since its inception was -27.34%, smaller than the maximum SOXL drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for QQXL and SOXL.

Drawdown Indicators

	QQXL	SOXL	Difference
Max Drawdown Largest peak-to-trough decline	-27.34%	-90.46%	+63.12%
Max Drawdown (1Y) Largest decline over 1 year	—	-43.47%	—
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	-1.84%	-6.36%	+4.52%
Average Drawdown Average peak-to-trough decline	-6.74%	-35.01%	+28.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	12.66%	—

Volatility

Volatility by Period

	QQXL	SOXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	41.05%	—
Volatility (6M) Calculated over the trailing 6-month period	—	81.57%	—
Volatility (1Y) Calculated over the trailing 1-year period	36.93%	102.16%	-65.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.93%	107.25%	-70.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.93%	99.05%	-62.12%

QQXL vs. SOXL - Expense Ratio Comparison

QQXL has a 0.95% expense ratio, which is higher than SOXL's 0.75% expense ratio.

Dividends

QQXL vs. SOXL - Dividend Comparison

QQXL's dividend yield for the trailing twelve months is around 0.45%, more than SOXL's 0.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
QQXL ProShares Ultra QQQ Top 30	0.45%	0.08%	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

Can I hold both QQXL and SOXL in my portfolio?

QQXL and SOXL have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, QQXL or SOXL?

On fees, SOXL is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QQXL or SOXL?

SOXL is cheaper with a 0.75% expense ratio, compared with 0.95% for QQXL.

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

QQXL has the higher dividend yield at 0.45%, compared with 0.03% for SOXL.

What is the main difference between QQXL and SOXL?

They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for QQXL and 0.75% for SOXL.