SOXL vs. PEP

Last updated Jun 14, 2026

SOXL (Direxion Daily Semiconductor Bull 3X ETF) is Leveraged Equities fund tracking the ICE Semiconductor Index, while PEP (PepsiCo, Inc.) is a stock. Over the past 10 years, SOXL returned 63.20%/yr vs 6.62%/yr for PEP. At a 0.23 correlation, their price movements are largely independent.

Performance

SOXL vs. PEP - Performance Comparison

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

Returns By Period

In the year-to-date period, SOXL achieves a 458.36% return, which is significantly higher than PEP's 2.49% return. Over the past 10 years, SOXL has outperformed PEP with an annualized return of 63.20%, while PEP has yielded a comparatively lower 6.62% annualized return.

SOXL

• 1D: 4.77%
• 1M: 26.04%
• YTD: 458.36%
• 6M: 462.65%
• 1Y: 1,075.10%
• 3Y*: 110.81%
• 5Y*: 43.69%
• 10Y*: 63.20%

PEP

• 1D: 0.38%
• 1M: -1.94%
• YTD: 2.49%
• 6M: -2.36%
• 1Y: 14.62%
• 3Y*: -4.09%
• 5Y*: 2.73%
• 10Y*: 6.62%

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

SOXL vs. PEP - 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%
PEP PepsiCo, Inc.	2.49%	-1.85%	-7.60%	-3.29%	6.78%	20.56%	11.67%	27.38%	-4.81%	17.82%

Correlation

The correlation between SOXL and PEP is -0.13, 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	-0.13
Correlation (3Y) Calculated over the trailing 3-year period	-0.06
Correlation (5Y) Calculated over the trailing 5-year period	0.05
Correlation (10Y) Calculated over the trailing 10-year period	0.16
Correlation (All Time) Calculated using the full available price history since Mar 11, 2010	0.23

The correlation between SOXL and PEP shifts across timeframes, from -0.13 (1 year) to 0.23 (all time), reflecting how their relationship changes across market environments.

Return for Risk

SOXL vs. PEP — Risk / Return Rank

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

SOXL

SOXL Risk / Return Rank: 97
SOXL Sharpe Ratio Rank: 99
SOXL Sortino Ratio Rank: 94
SOXL Omega Ratio Rank: 94
SOXL Calmar Ratio Rank: 99
SOXL Martin Ratio Rank: 98

PEP

PEP Risk / Return Rank: 60
PEP Sharpe Ratio Rank: 64
PEP Sortino Ratio Rank: 59
PEP Omega Ratio Rank: 55
PEP Calmar Ratio Rank: 60
PEP Martin Ratio Rank: 63

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. PEP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Semiconductor Bull 3X ETF (SOXL) and PepsiCo, Inc. (PEP). 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	PEP	Difference
Sharpe ratio: Return per unit of total volatility	8.99	0.62	+8.37
Sortino ratio: Return per unit of downside risk	4.23	1.11	+3.12
Omega ratio: Gain probability vs. loss probability	1.60	1.12	+0.48
Calmar ratio: Return relative to maximum drawdown	22.91	0.83	+22.09
Martin ratio: Return relative to average drawdown	74.51	2.11	+72.40

SOXL vs. PEP - Sharpe Ratio Comparison

The current SOXL Sharpe Ratio is 8.99, which is higher than the PEP Sharpe Ratio of 0.62. The chart below compares the historical Sharpe Ratios of SOXL and PEP, 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. PEP - Drawdown Comparison

The maximum SOXL drawdown since its inception was -90.46%, which is greater than PEP's maximum drawdown of -73.92%. Use the drawdown chart below to compare losses from any high point for SOXL and PEP.

Drawdown Indicators

	SOXL	PEP	Difference
Max Drawdown Largest peak-to-trough decline	-90.46%	-73.92%	-16.54%
Max Drawdown (1Y) Largest decline over 1 year	-43.47%	-16.25%	-27.22%
Max Drawdown (3Y) Largest decline over 3 years	-87.88%	-29.17%	-58.71%
Max Drawdown (5Y) Largest decline over 5 years	-90.46%	-30.32%	-60.14%
Max Drawdown (10Y) Largest decline over 10 years	-90.46%	-30.32%	-60.14%
Current Drawdown Current decline from peak	-16.35%	-17.75%	+1.40%
Average Drawdown Average peak-to-trough decline	-34.99%	-13.65%	-21.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.35%	6.37%	+6.98%

Volatility

SOXL vs. PEP - Volatility Comparison

Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a higher volatility of 58.17% compared to PepsiCo, Inc. (PEP) at 5.39%. This indicates that SOXL's price experiences larger fluctuations and is considered to be riskier than PEP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SOXL	PEP	Difference
Volatility (1M) Calculated over the trailing 1-month period	58.17%	5.39%	+52.78%
Volatility (6M) Calculated over the trailing 6-month period	93.93%	14.62%	+79.31%
Volatility (1Y) Calculated over the trailing 1-year period	110.81%	21.71%	+89.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	108.96%	18.39%	+90.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	99.99%	19.67%	+80.32%

Dividends

SOXL vs. PEP - Dividend Comparison

SOXL's dividend yield for the trailing twelve months is around 0.03%, less than PEP's 3.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PEP PepsiCo, Inc.	3.98%	3.92%	3.51%	2.91%	2.50%	2.45%	2.71%	2.77%	3.25%	2.64%	2.83%	2.76%
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%	0.00%

Frequently Asked Questions

Can I hold both SOXL and PEP in my portfolio?

SOXL and PEP have a correlation of -0.13, 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 PEP?

SOXL has higher volatility (58.17%) compared to PEP (5.39%). In terms of maximum drawdown, SOXL dropped -90.46% vs PEP's -73.92%.

Which has better risk-adjusted returns?

SOXL currently has the higher Sharpe Ratio (8.99 vs 0.62), 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.