SKF vs. SOXL

Last updated Jun 5, 2026

SKF (ProShares UltraShort Financials) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both Leveraged Equities funds - SKF tracks the DJ Global United States (All) / Financials -IND (-200%) while SOXL tracks the ICE Semiconductor Index. Both are passively managed. Over the past 10 years, SKF returned -26.23%/yr vs 64.43%/yr for SOXL. At a correlation of -0.58, they often move in opposite directions. SKF charges 0.95%/yr vs 0.75%/yr for SOXL.

Performance

SKF vs. SOXL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort Financials (SKF) 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, SKF achieves a 9.79% return, which is significantly lower than SOXL's 525.03% return. Over the past 10 years, SKF has underperformed SOXL with an annualized return of -26.23%, while SOXL has yielded a comparatively higher 64.43% annualized return.

SKF

• 1D: -5.09%
• 1M: -2.11%
• YTD: 9.79%
• 6M: 5.23%
• 1Y: -4.23%
• 3Y*: -25.95%
• 5Y*: -15.99%
• 10Y*: -26.23%

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)

SKF vs. SOXL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SKF ProShares UltraShort Financials	9.79%	-23.99%	-36.29%	-21.78%	17.63%	-47.66%	-42.40%	-42.97%	16.42%	-31.70%
SOXL Direxion Daily Semiconductor Bull 3X ETF	525.03%	54.91%	-12.31%	226.98%	-85.66%	118.84%	70.04%	231.83%	-39.07%	141.71%

Correlation

The correlation between SKF and SOXL is -0.23, 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	-0.23
Correlation (3Y) Calculated over the trailing 3-year period	-0.33
Correlation (5Y) Calculated over the trailing 5-year period	-0.48
Correlation (10Y) Calculated over the trailing 10-year period	-0.51
Correlation (All Time) Calculated using the full available price history since Mar 12, 2010	-0.58

Over the past year, the inverse relationship between SKF and SOXL has weakened: their correlation has moved from -0.58 to -0.23, meaning they move in opposite directions less often than they have historically.

SKF vs. SOXL - Sectors Allocation Comparison

Sectors	SKF	SOXL
Financial Services	48.0%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	100.0%
Utilities	-	-

Return for Risk

SKF vs. SOXL — Risk / Return Rank

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

SKF

SKF Risk / Return Rank: 8
SKF Sharpe Ratio Rank: 8
SKF Sortino Ratio Rank: 8
SKF Omega Ratio Rank: 8
SKF Calmar Ratio Rank: 7
SKF Martin Ratio Rank: 7

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.

SKF vs. SOXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Financials (SKF) 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.

	SKF	SOXL	Difference
Sharpe ratio: Return per unit of total volatility	-0.14	12.69	-12.83
Sortino ratio: Return per unit of downside risk	-0.00	4.98	-4.98
Omega ratio: Gain probability vs. loss probability	1.00	1.69	-0.69
Calmar ratio: Return relative to maximum drawdown	-0.20	29.80	-30.00
Martin ratio: Return relative to average drawdown	-0.38	102.14	-102.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SKF vs. SOXL - Sharpe Ratio Comparison

The current SKF Sharpe Ratio is -0.14, which is lower than the SOXL Sharpe Ratio of 12.69. The chart below compares the historical Sharpe Ratios of SKF 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.

Sharpe Ratios by Period

	SKF	SOXL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.14	12.69	-12.83
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.44	0.44	-0.88
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.64	0.65	-1.30
Sharpe Ratio (All Time) Calculated using the full available price history	-0.51	0.51	-1.02

Drawdowns

SKF vs. SOXL - Drawdown Comparison

The maximum SKF drawdown since its inception was -99.96%, which is greater than SOXL's maximum drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for SKF and SOXL.

Drawdown Indicators

	SKF	SOXL	Difference
Max Drawdown Largest peak-to-trough decline	-99.96%	-90.46%	-9.50%
Max Drawdown (1Y) Largest decline over 1 year	-20.76%	-43.47%	+22.71%
Max Drawdown (3Y) Largest decline over 3 years	-68.09%	-87.88%	+19.79%
Max Drawdown (5Y) Largest decline over 5 years	-72.40%	-90.46%	+18.06%
Max Drawdown (10Y) Largest decline over 10 years	-96.51%	-90.46%	-6.05%
Current Drawdown Current decline from peak	-99.95%	-6.36%	-93.59%
Average Drawdown Average peak-to-trough decline	-89.26%	-35.01%	-54.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.17%	12.66%	-1.49%

Volatility

SKF vs. SOXL - Volatility Comparison

The current volatility for ProShares UltraShort Financials (SKF) is 8.27%, while Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a volatility of 41.05%. This indicates that SKF 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

	SKF	SOXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.27%	41.05%	-32.78%
Volatility (6M) Calculated over the trailing 6-month period	22.43%	81.57%	-59.14%
Volatility (1Y) Calculated over the trailing 1-year period	29.30%	102.16%	-72.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.10%	107.25%	-71.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.92%	99.05%	-58.13%

SKF vs. SOXL - Expense Ratio Comparison

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

Dividends

SKF vs. SOXL - Dividend Comparison

SKF's dividend yield for the trailing twelve months is around 4.31%, more than SOXL's 0.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
SKF ProShares UltraShort Financials	4.31%	5.61%	7.94%	3.93%	0.03%	0.00%	0.11%	1.29%	0.06%	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 SKF and SOXL in my portfolio?

SKF and SOXL have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SKF or SOXL?

SOXL has higher volatility (41.05%) compared to SKF (8.27%). In terms of maximum drawdown, SKF dropped -99.96% vs SOXL's -90.46%.

Which ETF is better, SKF or SOXL?

On 10-year performance, SOXL leads with 64.43% vs -26.23% for SKF. On fees, SOXL is cheaper at 0.75% per year. On volatility, SKF has been the lower-risk option at 8.27%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SKF or SOXL?

Over the 10-year period, SOXL has performed better with a 64.43% return vs -26.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SKF or SOXL?

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

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

SKF has the higher dividend yield at 4.31%, compared with 0.03% for SOXL.

What is the main difference between SKF and SOXL?

SKF tracks DJ Global United States (All) / Financials -IND (-200%), while SOXL tracks ICE Semiconductor Index. They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for SKF and 0.75% for SOXL.

Which has better risk-adjusted returns?

SOXL currently has the higher Sharpe Ratio (12.69 vs -0.14), 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.