SOXL vs. BITI
SOXL (Direxion Daily Semiconductor Bull 3X ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - SOXL is a Leveraged Equities fund tracking the ICE Semiconductor Index, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past 3 years, SOXL returned 69.66%/yr vs -31.71%/yr for BITI. At a correlation of -0.35, they often move in opposite directions. SOXL charges 0.75%/yr vs 1.03%/yr for BITI.
Performance
SOXL vs. BITI - Performance Comparison
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Returns By Period
In the year-to-date period, SOXL achieves a 222.32% return, which is significantly higher than BITI's 24.73% return.
SOXL
- 1D
- -4.92%
- 1M
- -42.07%
- 6M
- 123.00%
- YTD
- 222.32%
- 1Y
- 396.01%
- 3Y*
- 69.66%
- 5Y*
- 30.59%
- 10Y*
- 52.51%
BITI
- 1D
- 0.20%
- 1M
- -0.52%
- 6M
- 36.51%
- YTD
- 24.73%
- 1Y
- 64.56%
- 3Y*
- -31.71%
- 5Y*
- —
- 10Y*
- —
SOXL vs. BITI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SOXL Direxion Daily Semiconductor Bull 3X ETF | 222.32% | 54.91% | -12.31% | 226.98% | -28.84% |
BITI ProShares Short Bitcoin ETF | 24.73% | -1.76% | -62.60% | -66.17% | 3.39% |
Correlation
The correlation between SOXL and BITI is -0.43, 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 | -0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.32 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022 | -0.35 |
The correlation between SOXL and BITI shifts across timeframes, from -0.43 (1 year) to -0.32 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
SOXL vs. BITI — Risk / Return Rank
SOXL
BITI
SOXL vs. BITI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Semiconductor Bull 3X ETF (SOXL) and ProShares Short Bitcoin ETF (BITI). 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 | BITI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.72 | ||
| Sortino ratioReturn per unit of downside risk | +0.78 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.25 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 7.26 | 2.57 | +4.70 |
| Martin ratioReturn relative to average drawdown | 23.96 | 6.36 | +17.59 |
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Drawdowns
SOXL vs. BITI - Drawdown Comparison
The maximum SOXL drawdown since its inception was -90.46%, roughly equal to the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for SOXL and BITI.
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Drawdown Indicators
| SOXL | BITI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -90.46% | -92.16% | +1.70% |
Max Drawdown (1Y)Largest decline over 1 year | -54.96% | -25.28% | -29.68% |
Max Drawdown (3Y)Largest decline over 3 years | -87.88% | -84.63% | -3.25% |
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 | -54.96% | -86.38% | +31.42% |
Average DrawdownAverage peak-to-trough decline | -34.95% | -68.42% | +33.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.63% | 10.18% | +6.45% |
Volatility
SOXL vs. BITI - Volatility Comparison
Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a higher volatility of 58.54% compared to ProShares Short Bitcoin ETF (BITI) at 10.69%. This indicates that SOXL's price experiences larger fluctuations and is considered to be riskier than BITI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SOXL | BITI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 58.54% | 10.69% | +47.85% |
Volatility (6M)Calculated over the trailing 6-month period | 109.77% | 34.09% | +75.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 125.03% | 44.07% | +80.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 111.99% | 52.21% | +59.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 101.43% | 52.21% | +49.22% |
SOXL vs. BITI - Expense Ratio Comparison
SOXL has a 0.75% expense ratio, which is lower than BITI's 1.03% expense ratio.
Dividends
SOXL vs. BITI - Dividend Comparison
SOXL's dividend yield for the trailing twelve months is around 0.01%, less than BITI's 15.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
BITI ProShares Short Bitcoin ETF | 15.59% | 1.60% | 3.91% | 3.33% | 0.06% | 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 BITI have a correlation of -0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXL has higher volatility (58.54%) compared to BITI (10.69%). In terms of maximum drawdown, SOXL dropped -90.46% vs BITI's -92.16%.
On 3-year performance, SOXL leads with 69.66% vs -31.71% for BITI. On fees, SOXL is cheaper at 0.75% per year. On volatility, BITI has been the lower-risk option at 10.69%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, SOXL has performed better with a 69.66% return vs -31.71%. 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 1.03% for BITI.
BITI has the higher dividend yield at 15.59%, compared with 0.01% for SOXL.
SOXL is categorized as Leveraged Equities, while BITI is Cryptocurrency. SOXL tracks ICE Semiconductor Index, while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: Direxion and ProShares. Their fees differ too: 0.75% for SOXL and 1.03% for BITI.
SOXL currently has the higher Sharpe Ratio (3.19 vs 1.47), 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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