SKHL vs. SOXL

Last updated Jul 29, 2026

SKHL (Direxion Daily SK Hynix Bull 2X ETF) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both Leveraged Equities funds from Direxion - SKHL tracks the SK hynix Inc. ADR while SOXL tracks the ICE Semiconductor Index. Both are passively managed. Their 0.47 correlation means their historical movements had little consistent relationship. SKHL charges 0.97%/yr vs 0.75%/yr for SOXL.

Performance

SKHL vs. SOXL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily SK Hynix Bull 2X ETF (SKHL) and Direxion Daily Semiconductor Bull 3X ETF (SOXL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SKHL

• 1D: -11.82%
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

SOXL

• 1D: -14.52%
• 1M: -49.19%
• 6M: 68.63%
• YTD: 160.62%
• 1Y: 307.63%
• 3Y*: 58.27%
• 5Y*: 21.04%
• 10Y*: 47.30%
• ALL TIME*: 37.64%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SKHL Direxion Daily SK Hynix Bull 2X ETF	$18.07M	$16.88M	$16.88M
SOXL Direxion Daily Semiconductor Bull 3X ETF	$10.42B	$10.60B	$11.50B

SKHL vs. SOXL - Yearly Performance Comparison

	2026 (YTD)
SKHL Direxion Daily SK Hynix Bull 2X ETF	-49.35%
SOXL Direxion Daily Semiconductor Bull 3X ETF	-37.99%

Correlation

The correlation between SKHL and SOXL is 0.47, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 15, 2026	0.47

Return for Risk

SKHL vs. SOXL — Risk / Return Rank

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

SKHL

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

SOXL

SOXL Risk / Return Rank: 88
SOXL Sharpe Ratio Rank: 93
SOXL Sortino Ratio Rank: 79
SOXL Omega Ratio Rank: 81
SOXL Calmar Ratio Rank: 94
SOXL Martin Ratio Rank: 93

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.

SKHL vs. SOXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily SK Hynix Bull 2X ETF (SKHL) 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.

	SKHL	SOXL	Difference
Sharpe ratio: Return per unit of total volatility	—	2.43	—
Sortino ratio: Return per unit of downside risk	—	2.55	—
Omega ratio: Gain probability vs. loss probability	—	1.34	—
Calmar ratio: Return relative to maximum drawdown	—	4.87	—
Martin ratio: Return relative to average drawdown	—	16.41	—

Drawdowns

SKHL vs. SOXL - Drawdown Comparison

The maximum SKHL drawdown since its inception was -49.35%, smaller than the maximum SOXL drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for SKHL and SOXL.

Drawdown Indicators

	SKHL	SOXL	Difference
Max Drawdown Largest peak-to-trough decline	-49.35%	-90.46%	+41.11%
Max Drawdown (1Y) Largest decline over 1 year	—	-63.58%	—
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	-49.35%	-63.58%	+14.23%
Average Drawdown Average peak-to-trough decline	-28.05%	-34.98%	+6.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	18.84%	—

Volatility

Volatility by Period

	SKHL	SOXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	50.95%	—
Volatility (6M) Calculated over the trailing 6-month period	—	112.43%	—
Volatility (1Y) Calculated over the trailing 1-year period	235.16%	127.74%	+107.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	235.16%	112.51%	+122.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	235.16%	101.73%	+133.43%

SKHL vs. SOXL - Expense Ratio Comparison

SKHL has a 0.97% expense ratio, which is higher than SOXL's 0.75% expense ratio.

Dividends

SKHL vs. SOXL - Dividend Comparison

SKHL has not paid dividends to shareholders, while SOXL's dividend yield for the trailing twelve months is around 0.01%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
SKHL Direxion Daily SK Hynix Bull 2X ETF	0.00%	0.00%	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	0.01%	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 SKHL and SOXL in my portfolio?

SKHL and SOXL have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SKHL 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, SKHL or SOXL?

SOXL is cheaper with a 0.75% expense ratio, compared with 0.97% for SKHL.

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

SOXL has the higher dividend yield at 0.01%, compared with 0.00% for SKHL.

What is the main difference between SKHL and SOXL?

SKHL tracks SK hynix Inc. ADR, while SOXL tracks ICE Semiconductor Index. Their fees differ too: 0.97% for SKHL and 0.75% for SOXL.