SMX vs. SOXL

Last updated Jun 4, 2026

SMX (SMX (Security Matters) Public Limited Company) is a stock, while SOXL (Direxion Daily Semiconductor Bull 3X ETF) is Leveraged Equities fund tracking the ICE Semiconductor Index. Over the past 3 years, SMX returned -99.92%/yr vs 135.13%/yr for SOXL. At a 0.07 correlation, their price movements are largely independent.

Performance

SMX vs. SOXL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SMX (Security Matters) Public Limited Company (SMX) 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, SMX achieves a -99.57% return, which is significantly lower than SOXL's 567.48% return.

SMX

• 1D: -15.79%
• 1M: -77.80%
• YTD: -99.57%
• 6M: -99.88%
• 1Y: -100.00%
• 3Y*: -99.92%
• 5Y*: —
• 10Y*: —

SOXL

• 1D: 5.34%
• 1M: 119.95%
• YTD: 567.48%
• 6M: 502.28%
• 1Y: 1,438.30%
• 3Y*: 135.13%
• 5Y*: 48.72%
• 10Y*: 65.39%

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

SMX vs. SOXL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SMX SMX (Security Matters) Public Limited Company	-99.57%	-99.96%	-98.89%	-99.68%	3.45%	-0.61%
SOXL Direxion Daily Semiconductor Bull 3X ETF	567.48%	54.91%	-12.31%	226.98%	-85.66%	3.23%

Correlation

The correlation between SMX and SOXL is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (3Y) Calculated over the trailing 3-year period	0.09
Correlation (All Time) Calculated using the full available price history since Dec 10, 2021	0.07

The correlation between SMX and SOXL shifts across timeframes, from 0.07 (all time) to 0.23 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

SMX vs. SOXL — Risk / Return Rank

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

SMX

SMX Risk / Return Rank: 14
SMX Sharpe Ratio Rank: 32
SMX Sortino Ratio Rank: 7
SMX Omega Ratio Rank: 10
SMX Calmar Ratio Rank: 0
SMX Martin Ratio Rank: 18

SOXL

SOXL Risk / Return Rank: 97
SOXL Sharpe Ratio Rank: 100
SOXL Sortino Ratio Rank: 95
SOXL Omega Ratio Rank: 95
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.

SMX vs. SOXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SMX (Security Matters) Public Limited Company (SMX) 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.

	SMX	SOXL	Difference
Sharpe ratio: Return per unit of total volatility	-0.21	14.28	-14.49
Sortino ratio: Return per unit of downside risk	-1.32	5.17	-6.49
Omega ratio: Gain probability vs. loss probability	0.86	1.72	-0.86
Calmar ratio: Return relative to maximum drawdown	-1.00	33.47	-34.47
Martin ratio: Return relative to average drawdown	-1.09	114.79	-115.88
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SMX vs. SOXL - Sharpe Ratio Comparison

The current SMX Sharpe Ratio is -0.21, which is lower than the SOXL Sharpe Ratio of 14.28. The chart below compares the historical Sharpe Ratios of SMX 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

	SMX	SOXL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.21	14.28	-14.49
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.46	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.66	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.33	0.52	-0.85

Drawdowns

SMX vs. SOXL - Drawdown Comparison

The maximum SMX drawdown since its inception was -100.00%, which is greater than SOXL's maximum drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for SMX and SOXL.

Drawdown Indicators

	SMX	SOXL	Difference
Max Drawdown Largest peak-to-trough decline	-100.00%	-90.46%	-9.54%
Max Drawdown (1Y) Largest decline over 1 year	-100.00%	-43.47%	-56.53%
Max Drawdown (3Y) Largest decline over 3 years	-100.00%	-87.88%	-12.12%
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	-100.00%	0.00%	-100.00%
Average Drawdown Average peak-to-trough decline	-72.42%	-35.01%	-37.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	91.19%	12.65%	+78.54%

Volatility

SMX vs. SOXL - Volatility Comparison

SMX (Security Matters) Public Limited Company (SMX) has a higher volatility of 88.13% compared to Direxion Daily Semiconductor Bull 3X ETF (SOXL) at 40.82%. This indicates that SMX's price experiences larger fluctuations and is considered to be riskier than SOXL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMX	SOXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	88.13%	40.82%	+47.31%
Volatility (6M) Calculated over the trailing 6-month period	277.50%	81.29%	+196.21%
Volatility (1Y) Calculated over the trailing 1-year period	476.85%	102.11%	+374.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	298.74%	107.25%	+191.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	298.74%	99.04%	+199.70%

Dividends

SMX vs. SOXL - Dividend Comparison

SMX has not paid dividends to shareholders, while SOXL's dividend yield for the trailing twelve months is around 0.03%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
SMX SMX (Security Matters) Public Limited Company	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	0.03%	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 SMX and SOXL in my portfolio?

SMX 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, SMX or SOXL?

SMX has higher volatility (88.13%) compared to SOXL (40.82%). In terms of maximum drawdown, SMX dropped -100.00% vs SOXL's -90.46%.

Which has better risk-adjusted returns?

SOXL currently has the higher Sharpe Ratio (14.28 vs -0.21), 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.