REW vs. SOXL
REW (ProShares UltraShort Technology) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both Leveraged Equities funds - REW tracks the Dow Jones U.S. Technology Index (-200%) while SOXL tracks the ICE Semiconductor Index. Both are passively managed. Over the past 10 years, REW returned -45.33%/yr vs 68.12%/yr for SOXL. At a correlation of -0.82, they often move in opposite directions. REW charges 0.95%/yr vs 0.75%/yr for SOXL.
Performance
REW vs. SOXL - Performance Comparison
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Returns By Period
In the year-to-date period, REW achieves a -43.64% return, which is significantly lower than SOXL's 501.02% return. Over the past 10 years, REW has underperformed SOXL with an annualized return of -45.33%, while SOXL has yielded a comparatively higher 68.12% annualized return.
REW
- 1D
- -2.01%
- 1M
- -2.83%
- YTD
- -43.64%
- 6M
- -41.62%
- 1Y
- -57.85%
- 3Y*
- -45.39%
- 5Y*
- -37.94%
- 10Y*
- -45.33%
SOXL
- 1D
- 10.04%
- 1M
- 11.88%
- YTD
- 501.02%
- 6M
- 471.39%
- 1Y
- 928.01%
- 3Y*
- 126.70%
- 5Y*
- 44.97%
- 10Y*
- 68.12%
REW vs. SOXL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
REW ProShares UltraShort Technology | -43.64% | -43.15% | -33.70% | -61.35% | 65.72% | -53.61% | -71.34% | -56.83% | -10.02% | -49.11% |
SOXL Direxion Daily Semiconductor Bull 3X ETF | 501.02% | 54.91% | -12.31% | 226.98% | -85.66% | 118.84% | 70.04% | 231.83% | -39.07% | 141.71% |
Correlation
The correlation between REW and SOXL is -0.82, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.86 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.87 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.84 |
Correlation (All Time) Calculated using the full available price history since Mar 11, 2010 | -0.82 |
The correlation between REW and SOXL has been stable across timeframes, ranging from -0.87 to -0.82 - a consistent structural relationship.
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Return for Risk
REW vs. SOXL — Risk / Return Rank
REW
SOXL
REW vs. SOXL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Technology (REW) 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.
| REW | SOXL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -9.26 | ||
| Sortino ratioReturn per unit of downside risk | -6.17 | ||
| Omega ratioGain probability vs. loss probability | 0.77 | 1.57 | -0.80 |
| Calmar ratioReturn relative to maximum drawdown | -0.94 | 21.57 | -22.51 |
| Martin ratioReturn relative to average drawdown | -2.00 | 68.63 | -70.63 |
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Drawdowns
REW vs. SOXL - Drawdown Comparison
The maximum REW drawdown since its inception was -99.99%, which is greater than SOXL's maximum drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for REW and SOXL.
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Drawdown Indicators
| REW | SOXL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.99% | -90.46% | -9.53% |
Max Drawdown (1Y)Largest decline over 1 year | -61.83% | -43.47% | -18.36% |
Max Drawdown (3Y)Largest decline over 3 years | -86.76% | -87.88% | +1.12% |
Max Drawdown (5Y)Largest decline over 5 years | -93.62% | -90.46% | -3.16% |
Max Drawdown (10Y)Largest decline over 10 years | -99.78% | -90.46% | -9.32% |
Current DrawdownCurrent decline from peak | -99.99% | -16.01% | -83.98% |
Average DrawdownAverage peak-to-trough decline | -86.90% | -34.94% | -51.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 29.52% | 13.64% | +15.88% |
Volatility
REW vs. SOXL - Volatility Comparison
The current volatility for ProShares UltraShort Technology (REW) is 24.33%, while Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a volatility of 66.73%. This indicates that REW 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
| REW | SOXL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 24.33% | 66.73% | -42.40% |
Volatility (6M)Calculated over the trailing 6-month period | 39.77% | 99.97% | -60.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 47.39% | 116.70% | -69.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.56% | 110.41% | -57.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 49.29% | 100.63% | -51.34% |
REW vs. SOXL - Expense Ratio Comparison
REW has a 0.95% expense ratio, which is higher than SOXL's 0.75% expense ratio.
Dividends
REW vs. SOXL - Dividend Comparison
REW's dividend yield for the trailing twelve months is around 8.84%, while SOXL has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
REW ProShares UltraShort Technology | 8.84% | 6.69% | 5.68% | 5.97% | 0.65% | 0.00% | 0.27% | 1.80% | 0.51% | 0.00% | 0.00% |
SOXL Direxion Daily Semiconductor Bull 3X ETF | 0.00% | 0.34% | 1.18% | 0.51% | 1.07% | 0.04% | 0.05% | 0.38% | 1.30% | 0.09% | 4.84% |
Frequently Asked Questions
REW and SOXL have a correlation of -0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXL has higher volatility (66.73%) compared to REW (24.33%). In terms of maximum drawdown, REW dropped -99.99% vs SOXL's -90.46%.
On 10-year performance, SOXL leads with 68.12% vs -45.33% for REW. On fees, SOXL is cheaper at 0.75% per year. On volatility, REW has been the lower-risk option at 24.33%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SOXL has performed better with a 68.12% return vs -45.33%. 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 0.95% for REW.
REW has the higher dividend yield at 8.84%, compared with 0.00% for SOXL.
REW tracks Dow Jones U.S. Technology Index (-200%), while SOXL tracks ICE Semiconductor Index. They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for REW and 0.75% for SOXL.
SOXL currently has the higher Sharpe Ratio (8.03 vs -1.22), 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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