SOXL vs. AGQ
SOXL (Direxion Daily Semiconductor Bull 3X ETF) and AGQ (ProShares Ultra Silver) are both exchange-traded funds - SOXL is a Leveraged Equities fund tracking the ICE Semiconductor Index, while AGQ is a Silver fund tracking the Bloomberg Silver Subindex (200%). Both are passively managed. Over the past 10 years, SOXL returned 52.03%/yr vs 1.71%/yr for AGQ. At a 0.16 correlation, their price movements are largely independent. SOXL charges 0.75%/yr vs 0.93%/yr for AGQ.
Performance
SOXL vs. AGQ - Performance Comparison
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Returns By Period
In the year-to-date period, SOXL achieves a 225.51% return, which is significantly higher than AGQ's -60.66% return. Over the past 10 years, SOXL has outperformed AGQ with an annualized return of 52.03%, while AGQ has yielded a comparatively lower 1.71% annualized return.
SOXL
- 1D
- 0.99%
- 1M
- -51.02%
- 6M
- 125.20%
- YTD
- 225.51%
- 1Y
- 400.73%
- 3Y*
- 77.51%
- 5Y*
- 27.50%
- 10Y*
- 52.03%
- ALL TIME*
- 39.58%
AGQ
- 1D
- 0.96%
- 1M
- -28.17%
- 6M
- -74.91%
- YTD
- -60.66%
- 1Y
- 15.33%
- 3Y*
- 24.96%
- 5Y*
- 7.33%
- 10Y*
- 1.71%
- ALL TIME*
- 1.64%
SOXL vs. AGQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SOXL Direxion Daily Semiconductor Bull 3X ETF | 225.51% | 54.91% | -12.31% | 226.98% | -85.66% | 118.84% | 70.04% | 231.83% | -39.07% | 141.71% |
AGQ ProShares Ultra Silver | -60.66% | 360.71% | 23.92% | -15.09% | -7.89% | -32.25% | 62.02% | 20.02% | -22.10% | 5.49% |
Correlation
The correlation between SOXL and AGQ is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.24 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Mar 11, 2010 | 0.16 |
The correlation between SOXL and AGQ shifts across timeframes, from 0.16 (all time) to 0.32 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SOXL vs. AGQ — Risk / Return Rank
SOXL
AGQ
SOXL vs. AGQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Semiconductor Bull 3X ETF (SOXL) and ProShares Ultra Silver (AGQ). 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.
| SOXL | AGQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.11 | ||
| Sortino ratioReturn per unit of downside risk | +1.72 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.17 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 7.35 | 0.18 | +7.17 |
| Martin ratioReturn relative to average drawdown | 23.74 | 0.31 | +23.43 |
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Drawdowns
SOXL vs. AGQ - Drawdown Comparison
The maximum SOXL drawdown since its inception was -90.46%, smaller than the maximum AGQ drawdown of -98.16%. Use the drawdown chart below to compare losses from any high point for SOXL and AGQ.
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Drawdown Indicators
| SOXL | AGQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -90.46% | -98.16% | +7.70% |
Max Drawdown (1Y)Largest decline over 1 year | -54.96% | -85.13% | +30.17% |
Max Drawdown (3Y)Largest decline over 3 years | -87.88% | -85.13% | -2.75% |
Max Drawdown (5Y)Largest decline over 5 years | -90.46% | -85.13% | -5.33% |
Max Drawdown (10Y)Largest decline over 10 years | -90.46% | -85.13% | -5.33% |
Current DrawdownCurrent decline from peak | -54.51% | -91.65% | +37.14% |
Average DrawdownAverage peak-to-trough decline | -34.96% | -79.91% | +44.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.98% | 48.99% | -32.01% |
Volatility
SOXL vs. AGQ - Volatility Comparison
Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a higher volatility of 58.35% compared to ProShares Ultra Silver (AGQ) at 25.72%. This indicates that SOXL's price experiences larger fluctuations and is considered to be riskier than AGQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SOXL | AGQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 58.35% | 25.72% | +32.63% |
Volatility (6M)Calculated over the trailing 6-month period | 109.69% | 129.62% | -19.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 125.28% | 125.29% | -0.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 112.02% | 76.07% | +35.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 101.46% | 66.33% | +35.13% |
SOXL vs. AGQ - Expense Ratio Comparison
SOXL has a 0.75% expense ratio, which is lower than AGQ's 0.93% expense ratio.
Dividends
SOXL vs. AGQ - Dividend Comparison
SOXL's dividend yield for the trailing twelve months is around 0.01%, while AGQ has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
AGQ ProShares Ultra Silver | 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
SOXL and AGQ have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXL has higher volatility (58.35%) compared to AGQ (25.72%). In terms of maximum drawdown, SOXL dropped -90.46% vs AGQ's -98.16%.
On 10-year performance, SOXL leads with 52.03% vs 1.71% for AGQ. On fees, SOXL is cheaper at 0.75% per year. On volatility, AGQ has been the lower-risk option at 25.72%. 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 52.03% return vs 1.71%. 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 0.93% for AGQ.
SOXL has the higher dividend yield at 0.01%, compared with 0.00% for AGQ.
SOXL is categorized as Leveraged Equities, while AGQ is Silver. SOXL tracks ICE Semiconductor Index, while AGQ tracks Bloomberg Silver Subindex (200%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 0.75% for SOXL and 0.93% for AGQ.
SOXL currently has the higher Sharpe Ratio (3.23 vs 0.12), 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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