SOXL vs. SBIT
SOXL (Direxion Daily Semiconductor Bull 3X ETF) and SBIT (Proshares Ultrashort Bitcoin ETF) are both exchange-traded funds - SOXL is a Leveraged Equities fund tracking the ICE Semiconductor Index, while SBIT is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index (-200%). Both are passively managed. Over the past year, SOXL returned 240.43% vs 111.44% for SBIT. Their -0.38 correlation means they have often moved in opposite directions in the past. SOXL charges 0.75%/yr vs 0.95%/yr for SBIT.
Performance
SOXL vs. SBIT - Performance Comparison
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Returns By Period
In the year-to-date period, SOXL achieves a 118.87% return, which is significantly higher than SBIT's 37.29% return.
SOXL
- 1D
- -16.02%
- 1M
- -61.11%
- 6M
- 31.25%
- YTD
- 118.87%
- 1Y
- 240.43%
- 3Y*
- 49.32%
- 5Y*
- 16.39%
- 10Y*
- 44.75%
- ALL TIME*
- 36.17%
SBIT
- 1D
- 0.94%
- 1M
- -11.45%
- 6M
- 45.78%
- YTD
- 37.29%
- 1Y
- 111.44%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -43.11%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $27.26M | $34.79M | $46.63M | |
| $10.69B | $10.70B | $11.60B |
SOXL vs. SBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SOXL Direxion Daily Semiconductor Bull 3X ETF | 118.87% | 54.91% | -42.67% |
SBIT Proshares Ultrashort Bitcoin ETF | 37.29% | -25.11% | -73.74% |
Correlation
The correlation between SOXL and SBIT is -0.43, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.43 |
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024 | -0.38 |
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Return for Risk
SOXL vs. SBIT — Risk / Return Rank
SOXL
SBIT
SOXL vs. SBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Semiconductor Bull 3X ETF (SOXL) and Proshares Ultrashort Bitcoin ETF (SBIT). 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 | SBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.61 | ||
| Sortino ratioReturn per unit of downside risk | +0.38 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.23 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 3.49 | 2.34 | +1.15 |
| Martin ratioReturn relative to average drawdown | 12.49 | 5.18 | +7.31 |
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Drawdowns
SOXL vs. SBIT - Drawdown Comparison
The maximum SOXL drawdown since its inception was -90.46%, roughly equal to the maximum SBIT drawdown of -91.35%. Use the drawdown chart below to compare losses from any high point for SOXL and SBIT.
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Drawdown Indicators
| SOXL | SBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -90.46% | -91.35% | +0.89% |
Max Drawdown (1Y)Largest decline over 1 year | -69.42% | -47.94% | -21.48% |
Max Drawdown (3Y)Largest decline over 3 years | -87.88% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -90.46% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -90.46% | — | — |
Current DrawdownCurrent decline from peak | -69.42% | -78.21% | +8.79% |
Average DrawdownAverage peak-to-trough decline | -34.99% | -69.04% | +34.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.34% | 21.59% | -2.25% |
Volatility
SOXL vs. SBIT - Volatility Comparison
Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a higher volatility of 51.08% compared to Proshares Ultrashort Bitcoin ETF (SBIT) at 18.21%. This indicates that SOXL's price experiences larger fluctuations and is considered to be riskier than SBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SOXL | SBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 51.08% | 18.21% | +32.87% |
Volatility (6M)Calculated over the trailing 6-month period | 113.66% | 67.55% | +46.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 128.79% | 88.40% | +40.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 112.73% | 96.16% | +16.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 101.84% | 96.16% | +5.68% |
SOXL vs. SBIT - Expense Ratio Comparison
SOXL has a 0.75% expense ratio, which is lower than SBIT's 0.95% expense ratio.
Dividends
SOXL vs. SBIT - Dividend Comparison
SOXL's dividend yield for the trailing twelve months is around 0.01%, less than SBIT's 4.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
SBIT Proshares Ultrashort Bitcoin ETF | 4.17% | 0.52% | 1.00% | 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
SOXL and SBIT have a correlation of -0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXL has higher volatility (51.08%) compared to SBIT (18.21%). In terms of maximum drawdown, SOXL dropped -90.46% vs SBIT's -91.35%.
On 1-year performance, SOXL leads with 240.43% vs 111.44% for SBIT. On fees, SOXL is cheaper at 0.75% per year. On volatility, SBIT has been the lower-risk option at 18.21%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SOXL has performed better with a 240.43% return vs 111.44%. 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 0.95% for SBIT.
SBIT has the higher dividend yield at 4.17%, compared with 0.01% for SOXL.
SOXL is categorized as Leveraged Equities, while SBIT is Cryptocurrency. SOXL tracks ICE Semiconductor Index, while SBIT tracks Bloomberg Bitcoin Index (-200%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 0.75% for SOXL and 0.95% for SBIT.
SOXL currently has the higher Sharpe Ratio (1.88 vs 1.27), 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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