SOXL vs. SMPIX

Last updated Jun 4, 2026

SOXL (Direxion Daily Semiconductor Bull 3X ETF) and SMPIX (ProFunds Semiconductor UltraSector Fund) are both Leveraged Equities funds. Over the past 10 years, SOXL returned 65.39%/yr vs 48.03%/yr for SMPIX. Their correlation of 0.95 suggests significant overlap in exposure. SOXL charges 0.75%/yr vs 1.49%/yr for SMPIX.

Performance

SOXL vs. SMPIX - Performance Comparison

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

Returns By Period

In the year-to-date period, SOXL achieves a 567.48% return, which is significantly higher than SMPIX's 82.09% return. Over the past 10 years, SOXL has outperformed SMPIX with an annualized return of 65.39%, while SMPIX has yielded a comparatively lower 48.03% annualized return.

SOXL

• 1D: 5.34%
• 1M: 119.95%
• YTD: 567.48%
• 6M: 502.28%
• 1Y: 1,438.30%
• 3Y*: 135.13%
• 5Y*: 48.72%
• 10Y*: 65.39%

SMPIX

• 1D: 3.58%
• 1M: 33.64%
• YTD: 82.09%
• 6M: 82.15%
• 1Y: 185.19%
• 3Y*: 89.91%
• 5Y*: 56.38%
• 10Y*: 48.03%

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

SOXL vs. SMPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SOXL Direxion Daily Semiconductor Bull 3X ETF	567.48%	54.91%	-12.31%	226.98%	-85.66%	118.84%	70.04%	231.83%	-39.07%	141.71%
SMPIX ProFunds Semiconductor UltraSector Fund	82.09%	56.35%	81.41%	155.37%	-54.31%	80.17%	60.77%	77.97%	-17.56%	42.78%

Correlation

The correlation between SOXL and SMPIX is 0.81, 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	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Mar 12, 2010	0.95

The correlation between SOXL and SMPIX shifts across timeframes, from 0.81 (1 year) to 0.95 (all time), reflecting how their relationship changes across market environments.

Return for Risk

SOXL vs. SMPIX — 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: 100
SOXL Sortino Ratio Rank: 95
SOXL Omega Ratio Rank: 95
SOXL Calmar Ratio Rank: 99
SOXL Martin Ratio Rank: 99

SMPIX

SMPIX Risk / Return Rank: 92
SMPIX Sharpe Ratio Rank: 99
SMPIX Sortino Ratio Rank: 85
SMPIX Omega Ratio Rank: 81
SMPIX Calmar Ratio Rank: 98
SMPIX Martin Ratio Rank: 97

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. SMPIX - Risk-Adjusted Trends Comparison

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

	SOXL	SMPIX	Difference
Sharpe ratio: Return per unit of total volatility	14.28	4.26	+10.03
Sortino ratio: Return per unit of downside risk	5.17	4.00	+1.17
Omega ratio: Gain probability vs. loss probability	1.72	1.54	+0.18
Calmar ratio: Return relative to maximum drawdown	33.47	8.74	+24.74
Martin ratio: Return relative to average drawdown	114.79	26.37	+88.42
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SOXL vs. SMPIX - Sharpe Ratio Comparison

The current SOXL Sharpe Ratio is 14.28, which is higher than the SMPIX Sharpe Ratio of 4.26. The chart below compares the historical Sharpe Ratios of SOXL and SMPIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SOXL	SMPIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	14.28	4.26	+10.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.46	0.17	+0.29
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.66	0.20	+0.46
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.09	+0.43

Drawdowns

SOXL vs. SMPIX - Drawdown Comparison

The maximum SOXL drawdown since its inception was -90.46%, roughly equal to the maximum SMPIX drawdown of -94.09%. Use the drawdown chart below to compare losses from any high point for SOXL and SMPIX.

Drawdown Indicators

	SOXL	SMPIX	Difference
Max Drawdown Largest peak-to-trough decline	-90.46%	-94.09%	+3.63%
Max Drawdown (1Y) Largest decline over 1 year	-43.47%	-22.72%	-20.75%
Max Drawdown (3Y) Largest decline over 3 years	-87.88%	-94.09%	+6.21%
Max Drawdown (5Y) Largest decline over 5 years	-90.46%	-94.09%	+3.63%
Max Drawdown (10Y) Largest decline over 10 years	-90.46%	-94.09%	+3.63%
Current Drawdown Current decline from peak	0.00%	-70.37%	+70.37%
Average Drawdown Average peak-to-trough decline	-35.01%	-57.55%	+22.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.65%	7.51%	+5.14%

Volatility

SOXL vs. SMPIX - Volatility Comparison

Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a higher volatility of 40.82% compared to ProFunds Semiconductor UltraSector Fund (SMPIX) at 15.52%. This indicates that SOXL's price experiences larger fluctuations and is considered to be riskier than SMPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SOXL	SMPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	40.82%	15.52%	+25.30%
Volatility (6M) Calculated over the trailing 6-month period	81.29%	35.41%	+45.88%
Volatility (1Y) Calculated over the trailing 1-year period	102.11%	46.69%	+55.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	107.25%	332.56%	-225.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	99.04%	237.19%	-138.15%

SOXL vs. SMPIX - Expense Ratio Comparison

SOXL has a 0.75% expense ratio, which is lower than SMPIX's 1.49% expense ratio.

Dividends

SOXL vs. SMPIX - Dividend Comparison

SOXL's dividend yield for the trailing twelve months is around 0.03%, less than SMPIX's 7.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SMPIX ProFunds Semiconductor UltraSector Fund	7.15%	13.02%	0.16%	0.00%	0.00%	6.57%	0.00%	2.26%	40.03%	0.11%	0.45%	0.68%
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 SMPIX in my portfolio?

SOXL and SMPIX have a correlation of 0.81, 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 SMPIX?

SOXL has higher volatility (40.82%) compared to SMPIX (15.52%). In terms of maximum drawdown, SOXL dropped -90.46% vs SMPIX's -94.09%.

Which has better risk-adjusted returns?

SOXL currently has the higher Sharpe Ratio (14.28 vs 4.26), 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.