QQXT vs. SOXL

Last updated Jun 24, 2026

QQXT (First Trust Nasdaq-100 Ex-Technology Sector Index Fund) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both exchange-traded funds - QQXT is a Nasdaq-100 fund tracking the NASDAQ-100 Ex-Tech Sector Index, while SOXL is a Leveraged Equities fund tracking the ICE Semiconductor Index. Both are passively managed. Over the past 10 years, QQXT returned 10.59%/yr vs 64.56%/yr for SOXL. A 0.67 correlation means they provide meaningful diversification when combined. QQXT charges 0.60%/yr vs 0.75%/yr for SOXL.

Performance

QQXT vs. SOXL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Nasdaq-100 Ex-Technology Sector Index Fund (QQXT) 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, QQXT achieves a -2.44% return, which is significantly lower than SOXL's 450.61% return. Over the past 10 years, QQXT has underperformed SOXL with an annualized return of 10.59%, while SOXL has yielded a comparatively higher 64.56% annualized return.

QQXT

• 1D: 0.26%
• 1M: -1.96%
• YTD: -2.44%
• 6M: -2.95%
• 1Y: 0.72%
• 3Y*: 6.63%
• 5Y*: 3.50%
• 10Y*: 10.59%

SOXL

• 1D: -23.06%
• 1M: 21.44%
• YTD: 450.61%
• 6M: 429.57%
• 1Y: 976.09%
• 3Y*: 120.84%
• 5Y*: 42.16%
• 10Y*: 64.56%

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

QQXT vs. SOXL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
QQXT First Trust Nasdaq-100 Ex-Technology Sector Index Fund	-2.44%	8.02%	6.71%	16.81%	-13.09%	12.02%	36.85%	28.02%	-5.74%	20.69%
SOXL Direxion Daily Semiconductor Bull 3X ETF	450.61%	54.91%	-12.31%	226.98%	-85.66%	118.84%	70.04%	231.83%	-39.07%	141.71%

Correlation

The correlation between QQXT and SOXL is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (3Y) Calculated over the trailing 3-year period	0.47
Correlation (5Y) Calculated over the trailing 5-year period	0.58
Correlation (10Y) Calculated over the trailing 10-year period	0.63
Correlation (All Time) Calculated using the full available price history since Mar 11, 2010	0.67

Over the past year, the correlation between QQXT and SOXL has dropped to 0.28 - well below their long-term average of 0.67, suggesting their price drivers have been diverging.

QQXT vs. SOXL - Sectors Allocation Comparison

Sectors	QQXT	SOXL
Industrials	21.8%	-
Consumer Cyclical	16.4%	-
Healthcare	16.4%	-
Consumer Defensive	14.5%	-
Communication Services	10.9%	-
Utilities	7.3%	-
Energy	3.6%	-
Technology	3.6%	100.0%
Basic Materials	1.8%	-
Financial Services	1.8%	-
Real Estate	1.4%	-

Return for Risk

QQXT vs. SOXL — Risk / Return Rank

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

QQXT

QQXT Risk / Return Rank: 9
QQXT Sharpe Ratio Rank: 10
QQXT Sortino Ratio Rank: 9
QQXT Omega Ratio Rank: 9
QQXT Calmar Ratio Rank: 10
QQXT Martin Ratio Rank: 10

SOXL

SOXL Risk / Return Rank: 96
SOXL Sharpe Ratio Rank: 99
SOXL Sortino Ratio Rank: 90
SOXL Omega Ratio Rank: 92
SOXL Calmar Ratio Rank: 99
SOXL Martin Ratio Rank: 98

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.

QQXT vs. SOXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Nasdaq-100 Ex-Technology Sector Index Fund (QQXT) 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.

	QQXT	SOXL	Difference
Sharpe ratio: Return per unit of total volatility	0.07	8.45	-8.38
Sortino ratio: Return per unit of downside risk	0.17	4.03	-3.86
Omega ratio: Gain probability vs. loss probability	1.02	1.58	-0.56
Calmar ratio: Return relative to maximum drawdown	0.10	22.69	-22.59
Martin ratio: Return relative to average drawdown	0.21	72.83	-72.62

QQXT vs. SOXL - Sharpe Ratio Comparison

The current QQXT Sharpe Ratio is 0.07, which is lower than the SOXL Sharpe Ratio of 8.45. The chart below compares the historical Sharpe Ratios of QQXT 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

QQXT vs. SOXL - Drawdown Comparison

The maximum QQXT drawdown since its inception was -57.45%, smaller than the maximum SOXL drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for QQXT and SOXL.

Drawdown Indicators

	QQXT	SOXL	Difference
Max Drawdown Largest peak-to-trough decline	-57.45%	-90.46%	+33.01%
Max Drawdown (1Y) Largest decline over 1 year	-7.59%	-43.47%	+35.88%
Max Drawdown (3Y) Largest decline over 3 years	-14.92%	-87.88%	+72.96%
Max Drawdown (5Y) Largest decline over 5 years	-24.74%	-90.46%	+65.72%
Max Drawdown (10Y) Largest decline over 10 years	-30.40%	-90.46%	+60.06%
Current Drawdown Current decline from peak	-6.81%	-23.06%	+16.25%
Average Drawdown Average peak-to-trough decline	-8.10%	-34.95%	+26.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.43%	13.52%	-10.09%

Volatility

QQXT vs. SOXL - Volatility Comparison

The current volatility for First Trust Nasdaq-100 Ex-Technology Sector Index Fund (QQXT) is 3.00%, while Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a volatility of 68.39%. This indicates that QQXT 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

	QQXT	SOXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.00%	68.39%	-65.39%
Volatility (6M) Calculated over the trailing 6-month period	7.95%	99.84%	-91.89%
Volatility (1Y) Calculated over the trailing 1-year period	10.92%	116.79%	-105.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.27%	110.35%	-94.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.49%	100.62%	-83.13%

QQXT vs. SOXL - Expense Ratio Comparison

QQXT has a 0.60% expense ratio, which is lower than SOXL's 0.75% expense ratio.

Dividends

QQXT vs. SOXL - Dividend Comparison

QQXT's dividend yield for the trailing twelve months is around 1.24%, more than SOXL's 0.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QQXT First Trust Nasdaq-100 Ex-Technology Sector Index Fund	1.24%	1.20%	0.98%	1.10%	0.92%	0.35%	0.28%	0.35%	0.38%	0.32%	0.31%	0.40%
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%	0.00%

Frequently Asked Questions

Can I hold both QQXT and SOXL in my portfolio?

QQXT and SOXL have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QQXT or SOXL?

SOXL has higher volatility (68.39%) compared to QQXT (3.00%). In terms of maximum drawdown, QQXT dropped -57.45% vs SOXL's -90.46%.

Which ETF is better, QQXT or SOXL?

On 10-year performance, SOXL leads with 64.56% vs 10.59% for QQXT. On fees, QQXT is cheaper at 0.60% per year. On volatility, QQXT has been the lower-risk option at 3.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQXT or SOXL?

Over the 10-year period, SOXL has performed better with a 64.56% return vs 10.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQXT or SOXL?

QQXT is cheaper with a 0.60% expense ratio, compared with 0.75% for SOXL.

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

QQXT has the higher dividend yield at 1.24%, compared with 0.03% for SOXL.

What is the main difference between QQXT and SOXL?

QQXT is categorized as Nasdaq-100, while SOXL is Leveraged Equities. QQXT tracks NASDAQ-100 Ex-Tech Sector Index, while SOXL tracks ICE Semiconductor Index. They also come from different issuers: First Trust and Direxion. Their fees differ too: 0.60% for QQXT and 0.75% for SOXL.

Which has better risk-adjusted returns?

SOXL currently has the higher Sharpe Ratio (8.45 vs 0.07), 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.