SOXL vs. GLD
SOXL (Direxion Daily Semiconductor Bull 3X ETF) and GLD (SPDR Gold Shares) are both exchange-traded funds - SOXL is a Leveraged Equities fund tracking the ICE Semiconductor Index, while GLD is a Gold fund tracking the LBMA Gold Price PM. Both are passively managed. Over the past 10 years, SOXL returned 63.20%/yr vs 12.15%/yr for GLD. At a 0.03 correlation, their price movements are largely independent. SOXL charges 0.75%/yr vs 0.40%/yr for GLD.
Performance
SOXL vs. GLD - Performance Comparison
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Returns By Period
In the year-to-date period, SOXL achieves a 458.36% return, which is significantly higher than GLD's -2.47% return. Over the past 10 years, SOXL has outperformed GLD with an annualized return of 63.20%, while GLD has yielded a comparatively lower 12.15% annualized return.
SOXL
- 1D
- 4.77%
- 1M
- 42.94%
- YTD
- 458.36%
- 6M
- 462.65%
- 1Y
- 1,075.10%
- 3Y*
- 110.81%
- 5Y*
- 43.69%
- 10Y*
- 63.20%
GLD
- 1D
- 0.06%
- 1M
- -7.37%
- YTD
- -2.47%
- 6M
- -2.25%
- 1Y
- 22.21%
- 3Y*
- 28.89%
- 5Y*
- 17.08%
- 10Y*
- 12.15%
SOXL vs. GLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SOXL Direxion Daily Semiconductor Bull 3X ETF | 458.36% | 54.91% | -12.31% | 226.98% | -85.66% | 118.84% | 70.04% | 231.83% | -39.07% | 141.71% |
GLD SPDR Gold Shares | -2.47% | 63.68% | 26.66% | 12.69% | -0.77% | -4.15% | 24.81% | 17.86% | -1.94% | 12.81% |
Correlation
The correlation between SOXL and GLD is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Mar 11, 2010 | 0.03 |
The correlation between SOXL and GLD shifts across timeframes, from 0.03 (all time) to 0.22 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SOXL vs. GLD — Risk / Return Rank
SOXL
GLD
SOXL vs. GLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Semiconductor Bull 3X ETF (SOXL) and SPDR Gold Shares (GLD). 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 | GLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +8.11 | ||
| Sortino ratioReturn per unit of downside risk | +3.00 | ||
| Omega ratioGain probability vs. loss probability | 1.60 | 1.18 | +0.42 |
| Calmar ratioReturn relative to maximum drawdown | 22.91 | 0.98 | +21.93 |
| Martin ratioReturn relative to average drawdown | 74.51 | 2.81 | +71.70 |
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Drawdowns
SOXL vs. GLD - Drawdown Comparison
The maximum SOXL drawdown since its inception was -90.46%, which is greater than GLD's maximum drawdown of -45.56%. Use the drawdown chart below to compare losses from any high point for SOXL and GLD.
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Drawdown Indicators
| SOXL | GLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -90.46% | -45.56% | -44.90% |
Max Drawdown (1Y)Largest decline over 1 year | -43.47% | -24.46% | -19.01% |
Max Drawdown (3Y)Largest decline over 3 years | -87.88% | -24.46% | -63.42% |
Max Drawdown (5Y)Largest decline over 5 years | -90.46% | -24.46% | -66.00% |
Max Drawdown (10Y)Largest decline over 10 years | -90.46% | -24.46% | -66.00% |
Current DrawdownCurrent decline from peak | -16.35% | -22.05% | +5.70% |
Average DrawdownAverage peak-to-trough decline | -34.99% | -16.16% | -18.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.35% | 8.49% | +4.86% |
Volatility
SOXL vs. GLD - Volatility Comparison
Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a higher volatility of 58.17% compared to SPDR Gold Shares (GLD) at 7.79%. This indicates that SOXL's price experiences larger fluctuations and is considered to be riskier than GLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SOXL | GLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 58.17% | 7.79% | +50.38% |
Volatility (6M)Calculated over the trailing 6-month period | 93.93% | 24.10% | +69.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 110.81% | 27.37% | +83.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 108.96% | 18.22% | +90.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 99.99% | 16.08% | +83.91% |
SOXL vs. GLD - Expense Ratio Comparison
SOXL has a 0.75% expense ratio, which is higher than GLD's 0.40% expense ratio.
Dividends
SOXL vs. GLD - Dividend Comparison
SOXL's dividend yield for the trailing twelve months is around 0.03%, while GLD has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
GLD SPDR Gold Shares | 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
SOXL and GLD have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXL has higher volatility (58.17%) compared to GLD (7.79%). In terms of maximum drawdown, SOXL dropped -90.46% vs GLD's -45.56%.
On 10-year performance, SOXL leads with 63.20% vs 12.15% for GLD. On fees, GLD is cheaper at 0.40% per year. On volatility, GLD has been the lower-risk option at 7.79%. 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 63.20% return vs 12.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GLD is cheaper with a 0.40% expense ratio, compared with 0.75% for SOXL.
SOXL has the higher dividend yield at 0.03%, compared with 0.00% for GLD.
SOXL is categorized as Leveraged Equities, while GLD is Gold. SOXL tracks ICE Semiconductor Index, while GLD tracks LBMA Gold Price PM. They also come from different issuers: Direxion and State Street. Their fees differ too: 0.75% for SOXL and 0.40% for GLD.
SOXL currently has the higher Sharpe Ratio (8.99 vs 0.87), 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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