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SOXL vs. QQQ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SOXL vs. QQQ

Last updated Jun 19, 2026

SOXL (Direxion Daily Semiconductor Bull 3X ETF) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - SOXL is a Leveraged Equities fund tracking the ICE Semiconductor Index, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 10 years, SOXL returned 65.95%/yr vs 22.17%/yr for QQQ. Their correlation of 0.83 suggests significant overlap in exposure. SOXL charges 0.75%/yr vs 0.18%/yr for QQQ.

Performance

SOXL vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Semiconductor Bull 3X ETF (SOXL) and Invesco QQQ ETF (QQQ). 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 564.50% return, which is significantly higher than QQQ's 20.71% return. Over the past 10 years, SOXL has outperformed QQQ with an annualized return of 65.95%, while QQQ has yielded a comparatively lower 22.17% annualized return.

SOXL

1D
19.43%
1M
83.88%
YTD
564.50%
6M
623.92%
1Y
1,196.88%
3Y*
124.34%
5Y*
50.47%
10Y*
65.95%

QQQ

1D
2.51%
1M
5.57%
YTD
20.71%
6M
21.90%
1Y
40.68%
3Y*
27.01%
5Y*
17.37%
10Y*
22.17%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SOXL vs. QQQ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SOXL
Direxion Daily Semiconductor Bull 3X ETF		564.50%54.91%-12.31%226.98%-85.66%118.84%70.04%231.83%-39.07%141.71%
QQQ
Invesco QQQ ETF		20.71%20.77%25.58%54.86%-32.58%27.42%48.62%38.96%-0.13%32.66%

Correlation

The correlation between SOXL and QQQ is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

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

0.80

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

0.84

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

0.86

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

0.84

Correlation (All Time)
Calculated using the full available price history since Mar 11, 2010

0.83

The correlation between SOXL and QQQ has been stable across timeframes, ranging from 0.80 to 0.86 - a consistent structural relationship.

SOXL vs. QQQ - Sectors Allocation Comparison

Sectors
SOXL
QQQ

Technology

100.0%
58.7%

Basic Materials

-

1.0%

Communication Services

-

14.3%

Consumer Cyclical

-

11.4%

Consumer Defensive

-

6.4%

Energy

-

0.5%

Financial Services

-

0.2%

Healthcare

-

3.7%

Industrials

-

2.6%

Real Estate

-

0.1%

Utilities

-

1.2%

Technology

SOXL
100.0%
QQQ
58.7%

Basic Materials

SOXL

-

QQQ
1.0%

Communication Services

SOXL

-

QQQ
14.3%

Consumer Cyclical

SOXL

-

QQQ
11.4%

Consumer Defensive

SOXL

-

QQQ
6.4%

Energy

SOXL

-

QQQ
0.5%

Financial Services

SOXL

-

QQQ
0.2%

Healthcare

SOXL

-

QQQ
3.7%

Industrials

SOXL

-

QQQ
2.6%

Real Estate

SOXL

-

QQQ
0.1%

Utilities

SOXL

-

QQQ
1.2%

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

Invesco QQQ ETF

Often compared with SOXL:
SOXL vs. TQQQSOXL vs. SOXXSOXL vs. SOXSSOXL vs. USDSOXL vs. TECLSOXL vs. NVDLSOXL vs. SPY
Often compared with QQQ:
QQQ vs. SPYQQQ vs. VOOQQQ vs. VGTQQQ vs. TQQQQQQ vs. SMHQQQ vs. QQQMQQQ vs. QQQI

Return for Risk

SOXL vs. QQQ — 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: 9494
Sortino Ratio Rank
SOXL Omega Ratio Rank: 9494
Omega Ratio Rank
SOXL Calmar Ratio Rank: 9999
Calmar Ratio Rank
SOXL Martin Ratio Rank: 9999
Martin Ratio Rank
QQQ
QQQ Risk / Return Rank: 7474
Overall Rank
QQQ Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
QQQ Sortino Ratio Rank: 7373
Sortino Ratio Rank
QQQ Omega Ratio Rank: 7575
Omega Ratio Rank
QQQ Calmar Ratio Rank: 7272
Calmar Ratio Rank
QQQ Martin Ratio Rank: 7373
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. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Semiconductor Bull 3X ETF (SOXL) and Invesco QQQ ETF (QQQ). 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.

SOXLQQQDifference
Sharpe ratioReturn per unit of total volatility
10.61
2.32

+8.29

Sortino ratioReturn per unit of downside risk
4.44
3.01

+1.42

Omega ratioGain probability vs. loss probability

1.63

1.41

+0.23

Calmar ratioReturn relative to maximum drawdown

27.84

3.42

+24.42

Martin ratioReturn relative to average drawdown

89.88

12.72

+77.16

SOXL vs. QQQ - Sharpe Ratio Comparison

The current SOXL Sharpe Ratio is 10.61, which is higher than the QQQ Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of SOXL and QQQ, 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. QQQ - Drawdown Comparison

The maximum SOXL drawdown since its inception was -90.46%, which is greater than QQQ's maximum drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for SOXL and QQQ.

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Drawdown Indicators

SOXLQQQDifference

Max Drawdown

Largest peak-to-trough decline

-90.46%

-82.97%

-7.49%

Max Drawdown (1Y)

Largest decline over 1 year

-43.47%

-11.96%

-31.51%

Max Drawdown (3Y)

Largest decline over 3 years

-87.88%

-22.77%

-65.11%

Max Drawdown (5Y)

Largest decline over 5 years

-90.46%

-35.12%

-55.34%

Max Drawdown (10Y)

Largest decline over 10 years

-90.46%

-35.12%

-55.34%

Current Drawdown

Current decline from peak

-0.45%

-0.74%

+0.29%

Average Drawdown

Average peak-to-trough decline

-34.96%

-32.73%

-2.23%

Ulcer Index

Depth and duration of drawdowns from previous peaks

13.44%

3.21%

+10.23%

Volatility

SOXL vs. QQQ - Volatility Comparison

Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a higher volatility of 62.74% compared to Invesco QQQ ETF (QQQ) at 8.58%. This indicates that SOXL's price experiences larger fluctuations and is considered to be riskier than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SOXLQQQDifference

Volatility (1M)

Calculated over the trailing 1-month period

62.74%

8.58%

+54.16%

Volatility (6M)

Calculated over the trailing 6-month period

96.77%

14.34%

+82.43%

Volatility (1Y)

Calculated over the trailing 1-year period

114.08%

17.64%

+96.44%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

109.76%

22.63%

+87.13%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

100.44%

22.42%

+78.02%

SOXL vs. QQQ - Expense Ratio Comparison

SOXL has a 0.75% expense ratio, which is higher than QQQ's 0.18% expense ratio.

Dividends

SOXL vs. QQQ - Dividend Comparison

SOXL's dividend yield for the trailing twelve months is around 0.03%, less than QQQ's 0.38% yield.

PositionTTM20252024202320222021202020192018201720162015
QQQ
Invesco QQQ ETF		0.38%0.45%0.56%0.62%0.80%0.43%0.55%0.74%0.91%0.84%1.06%0.99%
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

SOXL and QQQ have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SOXL has higher volatility (62.74%) compared to QQQ (8.58%). In terms of maximum drawdown, SOXL dropped -90.46% vs QQQ's -82.97%.

On 10-year performance, SOXL leads with 65.95% vs 22.17% for QQQ. On fees, QQQ is cheaper at 0.18% per year. On volatility, QQQ has been the lower-risk option at 8.58%. 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 65.95% return vs 22.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

QQQ is cheaper with a 0.18% expense ratio, compared with 0.75% for SOXL.

QQQ has the higher dividend yield at 0.38%, compared with 0.03% for SOXL.

SOXL is categorized as Leveraged Equities, while QQQ is Nasdaq-100. SOXL tracks ICE Semiconductor Index, while QQQ tracks NASDAQ-100 Index. They also come from different issuers: Direxion and Invesco. Their fees differ too: 0.75% for SOXL and 0.18% for QQQ.

SOXL currently has the higher Sharpe Ratio (10.61 vs 2.32), 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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