SOXL vs. FLYU

Last updated Jul 22, 2026

SOXL (Direxion Daily Semiconductor Bull 3X ETF) and FLYU (MicroSectors Travel 3X Leveraged ETNs) are both Leveraged Equities funds - SOXL tracks the ICE Semiconductor Index while FLYU tracks the MerQube MicroSectors U.S. Travel Index. Both are passively managed. Over the past 3 years, SOXL returned 86.45%/yr vs -1.34%/yr for FLYU. A 0.55 correlation means they provide meaningful diversification when combined. SOXL charges 0.75%/yr vs 0.95%/yr for FLYU.

Performance

SOXL vs. FLYU - Performance Comparison

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

Returns By Period

In the year-to-date period, SOXL achieves a 277.21% return, which is significantly higher than FLYU's -17.85% return.

SOXL

• 1D: 15.88%
• 1M: -43.23%
• 6M: 173.63%
• YTD: 277.21%
• 1Y: 476.68%
• 3Y*: 86.45%
• 5Y*: 32.02%
• 10Y*: 54.29%
• ALL TIME*: 40.84%

FLYU

• 1D: 0.11%
• 1M: -9.91%
• 6M: -9.30%
• YTD: -17.85%
• 1Y: -22.80%
• 3Y*: -1.34%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 15.87%

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

SOXL vs. FLYU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SOXL Direxion Daily Semiconductor Bull 3X ETF	277.21%	54.91%	-12.31%	226.98%	-34.13%
FLYU MicroSectors Travel 3X Leveraged ETNs	-17.85%	-2.29%	33.00%	111.16%	-19.09%

Correlation

The correlation between SOXL and FLYU is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (3Y) Calculated over the trailing 3-year period	0.48
Correlation (All Time) Calculated using the full available price history since Jun 22, 2022	0.55

The correlation between SOXL and FLYU shifts across timeframes, from 0.36 (1 year) to 0.55 (all time), reflecting how their relationship changes across market environments.

SOXL vs. FLYU - Sectors Allocation Comparison

Sectors	SOXL	FLYU
Technology	100.0%	16.4%
Basic Materials	-	-
Communication Services	-	13.2%
Consumer Cyclical	-	52.6%
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	17.7%
Real Estate	-	0.1%
Utilities	-	-

Return for Risk

SOXL vs. FLYU — Risk / Return Rank

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

SOXL

SOXL Risk / Return Rank: 93
SOXL Sharpe Ratio Rank: 98
SOXL Sortino Ratio Rank: 87
SOXL Omega Ratio Rank: 88
SOXL Calmar Ratio Rank: 97
SOXL Martin Ratio Rank: 96

FLYU

FLYU Risk / Return Rank: 7
FLYU Sharpe Ratio Rank: 7
FLYU Sortino Ratio Rank: 9
FLYU Omega Ratio Rank: 9
FLYU Calmar Ratio Rank: 6
FLYU Martin Ratio Rank: 6

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. FLYU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Semiconductor Bull 3X ETF (SOXL) and MicroSectors Travel 3X Leveraged ETNs (FLYU). 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	FLYU	Difference
Sharpe ratio: Return per unit of total volatility	3.82	-0.31	+4.12
Sortino ratio: Return per unit of downside risk	3.00	0.03	+2.97
Omega ratio: Gain probability vs. loss probability	1.41	1.00	+0.41
Calmar ratio: Return relative to maximum drawdown	8.75	-0.44	+9.18
Martin ratio: Return relative to average drawdown	27.85	-0.88	+28.73

SOXL vs. FLYU - Sharpe Ratio Comparison

The current SOXL Sharpe Ratio is 3.82, which is higher than the FLYU Sharpe Ratio of -0.31. The chart below compares the historical Sharpe Ratios of SOXL and FLYU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SOXL vs. FLYU - Drawdown Comparison

The maximum SOXL drawdown since its inception was -90.46%, which is greater than FLYU's maximum drawdown of -69.00%. Use the drawdown chart below to compare losses from any high point for SOXL and FLYU.

Drawdown Indicators

	SOXL	FLYU	Difference
Max Drawdown Largest peak-to-trough decline	-90.46%	-69.00%	-21.46%
Max Drawdown (1Y) Largest decline over 1 year	-54.96%	-52.33%	-2.63%
Max Drawdown (3Y) Largest decline over 3 years	-87.88%	-69.00%	-18.88%
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	-47.29%	-34.84%	-12.45%
Average Drawdown Average peak-to-trough decline	-34.96%	-26.59%	-8.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.24%	25.94%	-8.70%

Volatility

SOXL vs. FLYU - Volatility Comparison

Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a higher volatility of 57.31% compared to MicroSectors Travel 3X Leveraged ETNs (FLYU) at 17.61%. This indicates that SOXL's price experiences larger fluctuations and is considered to be riskier than FLYU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SOXL	FLYU	Difference
Volatility (1M) Calculated over the trailing 1-month period	57.31%	17.61%	+39.70%
Volatility (6M) Calculated over the trailing 6-month period	110.53%	61.02%	+49.51%
Volatility (1Y) Calculated over the trailing 1-year period	125.92%	74.53%	+51.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	112.17%	82.89%	+29.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	101.58%	82.89%	+18.69%

SOXL vs. FLYU - Expense Ratio Comparison

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

Dividends

SOXL vs. FLYU - Dividend Comparison

SOXL's dividend yield for the trailing twelve months is around 0.01%, while FLYU has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FLYU MicroSectors Travel 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	0.01%	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 SOXL and FLYU in my portfolio?

SOXL and FLYU have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SOXL or FLYU?

SOXL has higher volatility (57.31%) compared to FLYU (17.61%). In terms of maximum drawdown, SOXL dropped -90.46% vs FLYU's -69.00%.

Which ETF is better, SOXL or FLYU?

On 3-year performance, SOXL leads with 86.45% vs -1.34% for FLYU. On fees, SOXL is cheaper at 0.75% per year. On volatility, FLYU has been the lower-risk option at 17.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SOXL or FLYU?

Over the 3-year period, SOXL has performed better with a 86.45% return vs -1.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SOXL or FLYU?

SOXL is cheaper with a 0.75% expense ratio, compared with 0.95% for FLYU.

Which ETF pays a higher dividend yield, SOXL or FLYU?

SOXL has the higher dividend yield at 0.01%, compared with 0.00% for FLYU.

What is the main difference between SOXL and FLYU?

SOXL tracks ICE Semiconductor Index, while FLYU tracks MerQube MicroSectors U.S. Travel Index. They also come from different issuers: Direxion and REX. Their fees differ too: 0.75% for SOXL and 0.95% for FLYU.

Which has better risk-adjusted returns?

SOXL currently has the higher Sharpe Ratio (3.82 vs -0.31), 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.