SDP vs. SOXL
SDP (ProShares UltraShort Utilities) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both Leveraged Equities funds - SDP tracks the Dow Jones U.S. Utilities Index (-200%) while SOXL tracks the ICE Semiconductor Index. Both are passively managed. Over the past 10 years, SDP returned -20.74%/yr vs 57.12%/yr for SOXL. At a correlation of -0.20, they often move in opposite directions. SDP charges 0.95%/yr vs 0.75%/yr for SOXL.
Performance
SDP vs. SOXL - Performance Comparison
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Returns By Period
In the year-to-date period, SDP achieves a -14.36% return, which is significantly lower than SOXL's 320.32% return. Over the past 10 years, SDP has underperformed SOXL with an annualized return of -20.74%, while SOXL has yielded a comparatively higher 57.12% annualized return.
SDP
- 1D
- -0.10%
- 1M
- -6.21%
- 6M
- -13.88%
- YTD
- -14.36%
- 1Y
- -19.40%
- 3Y*
- -20.47%
- 5Y*
- -17.50%
- 10Y*
- -20.74%
SOXL
- 1D
- 6.83%
- 1M
- -24.72%
- 6M
- 215.07%
- YTD
- 320.32%
- 1Y
- 566.84%
- 3Y*
- 90.03%
- 5Y*
- 35.80%
- 10Y*
- 57.12%
SDP vs. SOXL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SDP ProShares UltraShort Utilities | -14.36% | -22.59% | -30.11% | 18.95% | -12.54% | -33.14% | -36.27% | -35.57% | -9.31% | -22.03% |
SOXL Direxion Daily Semiconductor Bull 3X ETF | 320.32% | 54.91% | -12.31% | 226.98% | -85.66% | 118.84% | 70.04% | 231.83% | -39.07% | 141.71% |
Correlation
The correlation between SDP and SOXL is -0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.14 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.14 |
Correlation (All Time) Calculated using the full available price history since Mar 11, 2010 | -0.20 |
The correlation between SDP and SOXL shifts across timeframes, from -0.20 (all time) to -0.08 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
SDP vs. SOXL — Risk / Return Rank
SDP
SOXL
SDP vs. SOXL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Utilities (SDP) 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.
| SDP | SOXL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -5.27 | ||
| Sortino ratioReturn per unit of downside risk | -4.03 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.45 | -0.54 |
| Calmar ratioReturn relative to maximum drawdown | -0.76 | 12.70 | -13.46 |
| Martin ratioReturn relative to average drawdown | -1.28 | 36.42 | -37.70 |
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Drawdowns
SDP vs. SOXL - Drawdown Comparison
The maximum SDP drawdown since its inception was -99.56%, which is greater than SOXL's maximum drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for SDP and SOXL.
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Drawdown Indicators
| SDP | SOXL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.56% | -90.46% | -9.10% |
Max Drawdown (1Y)Largest decline over 1 year | -25.59% | -45.05% | +19.46% |
Max Drawdown (3Y)Largest decline over 3 years | -66.17% | -87.88% | +21.71% |
Max Drawdown (5Y)Largest decline over 5 years | -66.17% | -90.46% | +24.29% |
Max Drawdown (10Y)Largest decline over 10 years | -92.43% | -90.46% | -1.97% |
Current DrawdownCurrent decline from peak | -99.53% | -41.26% | -58.27% |
Average DrawdownAverage peak-to-trough decline | -82.20% | -34.94% | -47.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.20% | 15.67% | -0.47% |
Volatility
SDP vs. SOXL - Volatility Comparison
The current volatility for ProShares UltraShort Utilities (SDP) is 8.89%, while Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a volatility of 62.00%. This indicates that SDP 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
| SDP | SOXL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.89% | 62.00% | -53.11% |
Volatility (6M)Calculated over the trailing 6-month period | 23.58% | 108.24% | -84.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.92% | 123.87% | -93.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.44% | 111.87% | -77.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.59% | 101.35% | -63.76% |
SDP vs. SOXL - Expense Ratio Comparison
SDP has a 0.95% expense ratio, which is higher than SOXL's 0.75% expense ratio.
Dividends
SDP vs. SOXL - Dividend Comparison
SDP's dividend yield for the trailing twelve months is around 4.34%, more than SOXL's 0.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
SDP ProShares UltraShort Utilities | 4.34% | 3.99% | 4.66% | 3.04% | 0.56% | 0.00% | 0.13% | 0.87% | 0.05% | 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
SDP and SOXL have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXL has higher volatility (62.00%) compared to SDP (8.89%). In terms of maximum drawdown, SDP dropped -99.56% vs SOXL's -90.46%.
On 10-year performance, SOXL leads with 57.12% vs -20.74% for SDP. On fees, SOXL is cheaper at 0.75% per year. On volatility, SDP has been the lower-risk option at 8.89%. 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 57.12% return vs -20.74%. 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 SDP.
SDP has the higher dividend yield at 4.34%, compared with 0.01% for SOXL.
SDP tracks Dow Jones U.S. Utilities Index (-200%), while SOXL tracks ICE Semiconductor Index. They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for SDP and 0.75% for SOXL.
SOXL currently has the higher Sharpe Ratio (4.62 vs -0.65), 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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