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SOXL vs. NUGT
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SOXL vs. NUGT

Last updated Jun 26, 2026

SOXL (Direxion Daily Semiconductor Bull 3X ETF) and NUGT (Direxion Daily Gold Miners Index Bull 2X ETF) are both exchange-traded funds - SOXL is a Leveraged Equities fund tracking the ICE Semiconductor Index, while NUGT is a Gold fund tracking the MarketVector Global Gold Miners Index (200%). Both are passively managed. Over the past 10 years, SOXL returned 68.12%/yr vs -12.40%/yr for NUGT. At a 0.16 correlation, their price movements are largely independent. SOXL charges 0.75%/yr vs 1.13%/yr for NUGT.

Performance

SOXL vs. NUGT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Semiconductor Bull 3X ETF (SOXL) and Direxion Daily Gold Miners Index Bull 2X ETF (NUGT). 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 NUGT's -35.52% return. Over the past 10 years, SOXL has outperformed NUGT with an annualized return of 68.12%, while NUGT has yielded a comparatively lower -12.40% annualized 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%

NUGT

1D
3.02%
1M
-29.37%
YTD
-35.52%
6M
-41.56%
1Y
59.76%
3Y*
52.08%
5Y*
15.88%
10Y*
-12.40%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SOXL vs. NUGT - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SOXL
Direxion Daily Semiconductor Bull 3X ETF		501.02%54.91%-12.31%226.98%-85.66%118.84%70.04%231.83%-39.07%141.71%
NUGT
Direxion Daily Gold Miners Index Bull 2X ETF		-35.52%425.05%2.89%2.60%-32.10%-26.31%-60.16%100.73%-44.52%3.73%

Correlation

The correlation between SOXL and NUGT is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.34

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

0.26

Correlation (5Y)
Calculated over the trailing 5-year period

0.25

Correlation (10Y)
Calculated over the trailing 10-year period

0.15

Correlation (All Time)
Calculated using the full available price history since Dec 8, 2010

0.16

The correlation between SOXL and NUGT shifts across timeframes, from 0.15 (10 years) to 0.34 (1 year), reflecting how their relationship changes across market environments.

SOXL vs. NUGT - Sectors Allocation Comparison

Sectors
SOXL
NUGT

Technology

100.0%

-

Basic Materials

-

100.0%

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Financial Services

-

-

Healthcare

-

-

Industrials

-

-

Real Estate

-

-

Utilities

-

-

Technology

SOXL
100.0%
NUGT

-

Basic Materials

SOXL

-

NUGT
100.0%

Communication Services

SOXL

-

NUGT

-

Consumer Cyclical

SOXL

-

NUGT

-

Consumer Defensive

SOXL

-

NUGT

-

Energy

SOXL

-

NUGT

-

Financial Services

SOXL

-

NUGT

-

Healthcare

SOXL

-

NUGT

-

Industrials

SOXL

-

NUGT

-

Real Estate

SOXL

-

NUGT

-

Utilities

SOXL

-

NUGT

-

Compare stocks, funds, or ETFs

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Direxion Daily Semiconductor Bull 3X ETF

Direxion Daily Gold Miners Index Bull 2X ETF

Often compared with SOXL:
SOXL vs. TQQQSOXL vs. SOXXSOXL vs. SOXSSOXL vs. USDSOXL vs. TECLSOXL vs. NVDLSOXL vs. SPY
Often compared with NUGT:
NUGT vs. GDXUNUGT vs. UGLNUGT vs. JNUGNUGT vs. GLDNUGT vs. DUSTNUGT vs. SILNUGT vs. JDST

Return for Risk

SOXL vs. NUGT — 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
NUGT
NUGT Risk / Return Rank: 2424
Overall Rank
NUGT Sharpe Ratio Rank: 2020
Sharpe Ratio Rank
NUGT Sortino Ratio Rank: 2626
Sortino Ratio Rank
NUGT Omega Ratio Rank: 2929
Omega Ratio Rank
NUGT Calmar Ratio Rank: 2222
Calmar Ratio Rank
NUGT Martin Ratio Rank: 2121
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. NUGT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Semiconductor Bull 3X ETF (SOXL) and Direxion Daily Gold Miners Index Bull 2X ETF (NUGT). 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.

SOXLNUGTDifference
Sharpe ratioReturn per unit of total volatility
8.03
0.64

+7.40

Sortino ratioReturn per unit of downside risk
3.97
1.34

+2.64

Omega ratioGain probability vs. loss probability

1.57

1.18

+0.39

Calmar ratioReturn relative to maximum drawdown

21.57

0.95

+20.62

Martin ratioReturn relative to average drawdown

68.63

2.21

+66.41

SOXL vs. NUGT - Sharpe Ratio Comparison

The current SOXL Sharpe Ratio is 8.03, which is higher than the NUGT Sharpe Ratio of 0.64. The chart below compares the historical Sharpe Ratios of SOXL and NUGT, 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. NUGT - Drawdown Comparison

The maximum SOXL drawdown since its inception was -90.46%, smaller than the maximum NUGT drawdown of -99.97%. Use the drawdown chart below to compare losses from any high point for SOXL and NUGT.

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Drawdown Indicators

SOXLNUGTDifference

Max Drawdown

Largest peak-to-trough decline

-90.46%

-99.97%

+9.51%

Max Drawdown (1Y)

Largest decline over 1 year

-43.47%

-63.43%

+19.96%

Max Drawdown (3Y)

Largest decline over 3 years

-87.88%

-63.43%

-24.45%

Max Drawdown (5Y)

Largest decline over 5 years

-90.46%

-73.72%

-16.74%

Max Drawdown (10Y)

Largest decline over 10 years

-90.46%

-96.91%

+6.45%

Current Drawdown

Current decline from peak

-16.01%

-99.85%

+83.84%

Average Drawdown

Average peak-to-trough decline

-34.94%

-91.53%

+56.59%

Ulcer Index

Depth and duration of drawdowns from previous peaks

13.64%

27.10%

-13.46%

Volatility

SOXL vs. NUGT - Volatility Comparison

Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a higher volatility of 66.73% compared to Direxion Daily Gold Miners Index Bull 2X ETF (NUGT) at 34.79%. This indicates that SOXL's price experiences larger fluctuations and is considered to be riskier than NUGT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SOXLNUGTDifference

Volatility (1M)

Calculated over the trailing 1-month period

66.73%

34.79%

+31.94%

Volatility (6M)

Calculated over the trailing 6-month period

99.97%

80.31%

+19.66%

Volatility (1Y)

Calculated over the trailing 1-year period

116.70%

94.54%

+22.16%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

110.41%

73.03%

+37.38%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

100.63%

87.98%

+12.65%

SOXL vs. NUGT - Expense Ratio Comparison

SOXL has a 0.75% expense ratio, which is lower than NUGT's 1.13% expense ratio.

Dividends

SOXL vs. NUGT - Dividend Comparison

SOXL has not paid dividends to shareholders, while NUGT's dividend yield for the trailing twelve months is around 0.61%.

PositionTTM2025202420232022202120202019201820172016
NUGT
Direxion Daily Gold Miners Index Bull 2X ETF		0.61%0.22%1.79%1.67%0.70%0.00%0.00%0.63%0.57%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 NUGT have a correlation of 0.34, 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 NUGT (34.79%). In terms of maximum drawdown, SOXL dropped -90.46% vs NUGT's -99.97%.

On 10-year performance, SOXL leads with 68.12% vs -12.40% for NUGT. On fees, SOXL is cheaper at 0.75% per year. On volatility, NUGT has been the lower-risk option at 34.79%. 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 68.12% return vs -12.40%. 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 1.13% for NUGT.

NUGT has the higher dividend yield at 0.61%, compared with 0.00% for SOXL.

SOXL is categorized as Leveraged Equities, while NUGT is Gold. SOXL tracks ICE Semiconductor Index, while NUGT tracks MarketVector Global Gold Miners Index (200%). Their fees differ too: 0.75% for SOXL and 1.13% for NUGT.

SOXL currently has the higher Sharpe Ratio (8.03 vs 0.64), 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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