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SOXL vs. BULZ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SOXL vs. BULZ

Last updated Jun 26, 2026

SOXL (Direxion Daily Semiconductor Bull 3X ETF) and BULZ (MicroSectors FANG & Innovation 3X Leveraged ETNs) are both Leveraged Equities funds - SOXL tracks the ICE Semiconductor Index while BULZ tracks the Solactive FANG Innovation Index (300%). Both are passively managed. Over the past 3 years, SOXL returned 126.70%/yr vs 76.27%/yr for BULZ. Their correlation of 0.86 suggests significant overlap in exposure. SOXL charges 0.75%/yr vs 0.95%/yr for BULZ.

Performance

SOXL vs. BULZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Semiconductor Bull 3X ETF (SOXL) and MicroSectors FANG & Innovation 3X Leveraged ETNs (BULZ). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SOXL achieves a 501.02% return, which is significantly higher than BULZ's 39.13% return.

SOXL

1D
10.04%
1M
11.88%
YTD
501.02%
6M
471.39%
1Y
928.01%
3Y*
126.70%
5Y*
44.97%
10Y*
68.12%

BULZ

1D
1.60%
1M
-23.69%
YTD
39.13%
6M
31.13%
1Y
112.44%
3Y*
76.27%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

SOXL vs. BULZ - Yearly Performance Comparison

2026 (YTD)20252024202320222021
SOXL
Direxion Daily Semiconductor Bull 3X ETF		501.02%54.91%-12.31%226.98%-85.66%68.13%
BULZ
MicroSectors FANG & Innovation 3X Leveraged ETNs		39.13%60.09%54.09%394.22%-92.26%9.17%

Correlation

The correlation between SOXL and BULZ is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.76

Correlation (3Y)
Calculated over the trailing 3-year period

0.83

Correlation (All Time)
Calculated using the full available price history since Aug 18, 2021

0.86

The correlation between SOXL and BULZ has been stable across timeframes, ranging from 0.76 to 0.86 - a consistent structural relationship.

SOXL vs. BULZ - Sectors Allocation Comparison

Sectors
SOXL
BULZ

Technology

100.0%
60.8%

Basic Materials

-

-

Communication Services

-

26.2%

Consumer Cyclical

-

13.0%

Consumer Defensive

-

-

Energy

-

-

Financial Services

-

-

Healthcare

-

-

Industrials

-

-

Real Estate

-

-

Utilities

-

-

Technology

SOXL
100.0%
BULZ
60.8%

Basic Materials

SOXL

-

BULZ

-

Communication Services

SOXL

-

BULZ
26.2%

Consumer Cyclical

SOXL

-

BULZ
13.0%

Consumer Defensive

SOXL

-

BULZ

-

Energy

SOXL

-

BULZ

-

Financial Services

SOXL

-

BULZ

-

Healthcare

SOXL

-

BULZ

-

Industrials

SOXL

-

BULZ

-

Real Estate

SOXL

-

BULZ

-

Utilities

SOXL

-

BULZ

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Direxion Daily Semiconductor Bull 3X ETF

MicroSectors FANG & Innovation 3X Leveraged ETNs

Often compared with SOXL:
SOXL vs. TQQQSOXL vs. SOXXSOXL vs. SOXSSOXL vs. USDSOXL vs. TECLSOXL vs. NVDLSOXL vs. SPY
Often compared with BULZ:
BULZ vs. FNGUBULZ vs. TECLBULZ vs. TQQQBULZ vs. BERZBULZ vs. FNGOBULZ vs. SMCIBULZ vs. FTFT

Return for Risk

SOXL vs. BULZ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SOXL
SOXL Risk / Return Rank: 9797
Overall Rank
SOXL Sharpe Ratio Rank: 9999
Sharpe Ratio Rank
SOXL Sortino Ratio Rank: 9393
Sortino Ratio Rank
SOXL Omega Ratio Rank: 9393
Omega Ratio Rank
SOXL Calmar Ratio Rank: 9999
Calmar Ratio Rank
SOXL Martin Ratio Rank: 9898
Martin Ratio Rank
BULZ
BULZ Risk / Return Rank: 4444
Overall Rank
BULZ Sharpe Ratio Rank: 4646
Sharpe Ratio Rank
BULZ Sortino Ratio Rank: 4242
Sortino Ratio Rank
BULZ Omega Ratio Rank: 4444
Omega Ratio Rank
BULZ Calmar Ratio Rank: 4848
Calmar Ratio Rank
BULZ Martin Ratio Rank: 3838
Martin Ratio Rank
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.

SOXL vs. BULZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Semiconductor Bull 3X ETF (SOXL) and MicroSectors FANG & Innovation 3X Leveraged ETNs (BULZ). 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.

SOXLBULZDifference
Sharpe ratioReturn per unit of total volatility
8.03
1.42

+6.62

Sortino ratioReturn per unit of downside risk
3.97
1.92

+2.05

Omega ratioGain probability vs. loss probability

1.57

1.25

+0.32

Calmar ratioReturn relative to maximum drawdown

21.57

2.09

+19.48

Martin ratioReturn relative to average drawdown

68.63

5.32

+63.31

SOXL vs. BULZ - Sharpe Ratio Comparison

The current SOXL Sharpe Ratio is 8.03, which is higher than the BULZ Sharpe Ratio of 1.42. The chart below compares the historical Sharpe Ratios of SOXL and BULZ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

SOXL vs. BULZ - Drawdown Comparison

The maximum SOXL drawdown since its inception was -90.46%, roughly equal to the maximum BULZ drawdown of -94.44%. Use the drawdown chart below to compare losses from any high point for SOXL and BULZ.

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Drawdown Indicators

SOXLBULZDifference

Max Drawdown

Largest peak-to-trough decline

-90.46%

-94.44%

+3.98%

Max Drawdown (1Y)

Largest decline over 1 year

-43.47%

-54.22%

+10.75%

Max Drawdown (3Y)

Largest decline over 3 years

-87.88%

-67.96%

-19.92%

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

-16.01%

-34.45%

+18.44%

Average Drawdown

Average peak-to-trough decline

-34.94%

-57.98%

+23.04%

Ulcer Index

Depth and duration of drawdowns from previous peaks

13.64%

21.21%

-7.57%

Volatility

SOXL vs. BULZ - Volatility Comparison

Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a higher volatility of 66.73% compared to MicroSectors FANG & Innovation 3X Leveraged ETNs (BULZ) at 34.26%. This indicates that SOXL's price experiences larger fluctuations and is considered to be riskier than BULZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SOXLBULZDifference

Volatility (1M)

Calculated over the trailing 1-month period

66.73%

34.26%

+32.47%

Volatility (6M)

Calculated over the trailing 6-month period

99.97%

63.37%

+36.60%

Volatility (1Y)

Calculated over the trailing 1-year period

116.70%

79.79%

+36.91%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

110.41%

91.79%

+18.62%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

100.63%

91.79%

+8.84%

SOXL vs. BULZ - Expense Ratio Comparison

SOXL has a 0.75% expense ratio, which is lower than BULZ's 0.95% expense ratio.

Dividends

SOXL vs. BULZ - Dividend Comparison

Neither SOXL nor BULZ has paid dividends to shareholders.

PositionTTM2025202420232022202120202019201820172016
BULZ
MicroSectors FANG & Innovation 3X Leveraged ETNs		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		0.00%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 BULZ have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SOXL has higher volatility (66.73%) compared to BULZ (34.26%). In terms of maximum drawdown, SOXL dropped -90.46% vs BULZ's -94.44%.

On 3-year performance, SOXL leads with 126.70% vs 76.27% for BULZ. On fees, SOXL is cheaper at 0.75% per year. On volatility, BULZ has been the lower-risk option at 34.26%. 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 126.70% return vs 76.27%. 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 0.95% for BULZ.

SOXL and BULZ have nearly identical dividend yields, around 0.00%.

SOXL tracks ICE Semiconductor Index, while BULZ tracks Solactive FANG Innovation Index (300%). They also come from different issuers: Direxion and BMO. Their fees differ too: 0.75% for SOXL and 0.95% for BULZ.

SOXL currently has the higher Sharpe Ratio (8.03 vs 1.42), 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.

Portfolio Optimizer

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