SMHX vs. SOXL
Compare and contrast key facts about VanEck Fabless Semiconductor ETF (SMHX) and Direxion Daily Semiconductor Bull 3x Shares (SOXL).
SMHX and SOXL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SMHX is a passively managed fund by VanEck that tracks the performance of the MarketVector™ US Listed Fabless Semiconductor Index. It was launched on Aug 27, 2024. SOXL is a passively managed fund by Direxion that tracks the performance of the PHLX Semiconductor Index (300%). It was launched on Mar 11, 2010. Both SMHX and SOXL are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
SMHX vs. SOXL - Performance Comparison
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SMHX vs. SOXL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SMHX VanEck Fabless Semiconductor ETF | -2.14% | 30.00% | 17.76% |
SOXL Direxion Daily Semiconductor Bull 3x Shares | 13.99% | 54.91% | -25.04% |
Returns By Period
In the year-to-date period, SMHX achieves a -2.14% return, which is significantly lower than SOXL's 13.99% return.
SMHX
- 1D
- 6.30%
- 1M
- -3.11%
- YTD
- -2.14%
- 6M
- -2.75%
- 1Y
- 59.42%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SOXL
- 1D
- 17.95%
- 1M
- -23.67%
- YTD
- 13.99%
- 6M
- 37.51%
- 1Y
- 201.41%
- 3Y*
- 38.75%
- 5Y*
- 3.09%
- 10Y*
- 39.88%
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SMHX vs. SOXL - Expense Ratio Comparison
SMHX has a 0.35% expense ratio, which is lower than SOXL's 0.99% expense ratio.
Return for Risk
SMHX vs. SOXL — Risk / Return Rank
SMHX
SOXL
SMHX vs. SOXL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Fabless Semiconductor ETF (SMHX) and Direxion Daily Semiconductor Bull 3x Shares (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.
| SMHX | SOXL | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.52 | 1.70 | -0.18 |
Sortino ratioReturn per unit of downside risk | 2.16 | 2.34 | -0.18 |
Omega ratioGain probability vs. loss probability | 1.30 | 1.34 | -0.04 |
Calmar ratioReturn relative to maximum drawdown | 3.30 | 4.06 | -0.76 |
Martin ratioReturn relative to average drawdown | 8.92 | 12.39 | -3.46 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SMHX | SOXL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.52 | 1.70 | -0.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.03 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.41 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.74 | 0.35 | +0.38 |
Correlation
The correlation between SMHX and SOXL is 0.91, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
SMHX vs. SOXL - Dividend Comparison
SMHX's dividend yield for the trailing twelve months is around 0.02%, less than SOXL's 0.16% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
SMHX VanEck Fabless Semiconductor ETF | 0.02% | 0.02% | 0.04% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SOXL Direxion Daily Semiconductor Bull 3x Shares | 0.16% | 0.34% | 1.18% | 0.51% | 1.07% | 0.04% | 0.05% | 0.38% | 1.30% | 0.09% | 4.84% |
Drawdowns
SMHX vs. SOXL - Drawdown Comparison
The maximum SMHX drawdown since its inception was -38.53%, smaller than the maximum SOXL drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for SMHX and SOXL.
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Drawdown Indicators
| SMHX | SOXL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.53% | -90.46% | +51.93% |
Max Drawdown (1Y)Largest decline over 1 year | -17.51% | -49.26% | +31.75% |
Max Drawdown (5Y)Largest decline over 5 years | — | -90.46% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -90.46% | — |
Current DrawdownCurrent decline from peak | -11.83% | -33.33% | +21.50% |
Average DrawdownAverage peak-to-trough decline | -7.94% | -35.34% | +27.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.47% | 16.14% | -9.67% |
Volatility
SMHX vs. SOXL - Volatility Comparison
The current volatility for VanEck Fabless Semiconductor ETF (SMHX) is 11.72%, while Direxion Daily Semiconductor Bull 3x Shares (SOXL) has a volatility of 40.35%. This indicates that SMHX 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
| SMHX | SOXL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.72% | 40.35% | -28.63% |
Volatility (6M)Calculated over the trailing 6-month period | 24.44% | 79.51% | -55.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.38% | 119.21% | -79.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 39.83% | 105.43% | -65.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 39.83% | 97.70% | -57.87% |