SOXL vs. TQQQ

Last updated Jun 18, 2026

SOXL (Direxion Daily Semiconductor Bull 3X ETF) and TQQQ (ProShares UltraPro QQQ) are both Leveraged Equities funds - SOXL tracks the ICE Semiconductor Index while TQQQ tracks the NASDAQ-100 Index (300%). Both are passively managed. Over the past 10 years, SOXL returned 63.57%/yr vs 45.08%/yr for TQQQ. Their correlation of 0.83 suggests significant overlap in exposure. SOXL charges 0.75%/yr vs 0.95%/yr for TQQQ.

Performance

SOXL vs. TQQQ - Performance Comparison

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

Returns By Period

In the year-to-date period, SOXL achieves a 456.41% return, which is significantly higher than TQQQ's 47.32% return. Over the past 10 years, SOXL has outperformed TQQQ with an annualized return of 63.57%, while TQQQ has yielded a comparatively lower 45.08% annualized return.

SOXL

• 1D: 3.39%
• 1M: 54.11%
• YTD: 456.41%
• 6M: 549.43%
• 1Y: 995.55%
• 3Y*: 111.45%
• 5Y*: 45.22%
• 10Y*: 63.57%

TQQQ

• 1D: -2.99%
• 1M: 4.33%
• YTD: 47.32%
• 6M: 57.47%
• 1Y: 112.29%
• 3Y*: 57.89%
• 5Y*: 24.08%
• 10Y*: 45.08%

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

SOXL vs. TQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SOXL Direxion Daily Semiconductor Bull 3X ETF	456.41%	54.91%	-12.31%	226.98%	-85.66%	118.84%	70.04%	231.83%	-39.07%	141.71%
TQQQ ProShares UltraPro QQQ	47.32%	34.35%	58.27%	198.04%	-79.09%	82.98%	110.05%	133.84%	-19.79%	118.06%

Correlation

The correlation between SOXL and TQQQ is 0.80, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	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 TQQQ has been stable across timeframes, ranging from 0.80 to 0.86 - a consistent structural relationship.

SOXL vs. TQQQ - Sectors Allocation Comparison

Sectors	SOXL	TQQQ
Technology	100.0%	53.8%
Basic Materials	-	1.1%
Communication Services	-	15.8%
Consumer Cyclical	-	12.3%
Consumer Defensive	-	7.7%
Energy	-	0.6%
Financial Services	-	0.2%
Healthcare	-	4.2%
Industrials	-	2.8%
Real Estate	-	0.1%
Utilities	-	1.4%

Return for Risk

SOXL vs. TQQQ — Risk / Return Rank

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

SOXL

SOXL Risk / Return Rank: 96
SOXL Sharpe Ratio Rank: 99
SOXL Sortino Ratio Rank: 92
SOXL Omega Ratio Rank: 93
SOXL Calmar Ratio Rank: 99
SOXL Martin Ratio Rank: 98

TQQQ

TQQQ Risk / Return Rank: 62
TQQQ Sharpe Ratio Rank: 73
TQQQ Sortino Ratio Rank: 55
TQQQ Omega Ratio Rank: 58
TQQQ Calmar Ratio Rank: 65
TQQQ Martin Ratio Rank: 58

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. TQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Semiconductor Bull 3X ETF (SOXL) and ProShares UltraPro QQQ (TQQQ). 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	TQQQ	Difference
Sharpe ratio: Return per unit of total volatility	8.93	2.17	+6.76
Sortino ratio: Return per unit of downside risk	4.18	2.49	+1.69
Omega ratio: Gain probability vs. loss probability	1.60	1.33	+0.26
Calmar ratio: Return relative to maximum drawdown	23.14	3.05	+20.09
Martin ratio: Return relative to average drawdown	74.72	9.76	+64.96

SOXL vs. TQQQ - Sharpe Ratio Comparison

The current SOXL Sharpe Ratio is 8.93, which is higher than the TQQQ Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of SOXL and TQQQ, 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. TQQQ - Drawdown Comparison

The maximum SOXL drawdown since its inception was -90.46%, which is greater than TQQQ's maximum drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for SOXL and TQQQ.

Drawdown Indicators

	SOXL	TQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-90.46%	-81.66%	-8.80%
Max Drawdown (1Y) Largest decline over 1 year	-43.47%	-36.97%	-6.50%
Max Drawdown (3Y) Largest decline over 3 years	-87.88%	-58.04%	-29.84%
Max Drawdown (5Y) Largest decline over 5 years	-90.46%	-81.66%	-8.80%
Max Drawdown (10Y) Largest decline over 10 years	-90.46%	-81.66%	-8.80%
Current Drawdown Current decline from peak	-16.64%	-11.10%	-5.54%
Average Drawdown Average peak-to-trough decline	-34.97%	-18.50%	-16.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.44%	11.55%	+1.89%

Volatility

SOXL vs. TQQQ - Volatility Comparison

Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a higher volatility of 60.81% compared to ProShares UltraPro QQQ (TQQQ) at 24.74%. This indicates that SOXL's price experiences larger fluctuations and is considered to be riskier than TQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SOXL	TQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	60.81%	24.74%	+36.07%
Volatility (6M) Calculated over the trailing 6-month period	95.43%	42.14%	+53.29%
Volatility (1Y) Calculated over the trailing 1-year period	112.67%	52.13%	+60.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	109.48%	67.19%	+42.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	100.28%	66.31%	+33.97%

SOXL vs. TQQQ - Expense Ratio Comparison

SOXL has a 0.75% expense ratio, which is lower than TQQQ's 0.95% expense ratio.

Dividends

SOXL vs. TQQQ - Dividend Comparison

SOXL's dividend yield for the trailing twelve months is around 0.03%, less than TQQQ's 0.41% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
TQQQ ProShares UltraPro QQQ	0.41%	0.65%	1.27%	1.26%	0.57%	0.00%	0.00%	0.06%	0.11%	0.00%	0.00%	0.01%

Frequently Asked Questions

Can I hold both SOXL and TQQQ in my portfolio?

SOXL and TQQQ 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.

Which is riskier, SOXL or TQQQ?

SOXL has higher volatility (60.81%) compared to TQQQ (24.74%). In terms of maximum drawdown, SOXL dropped -90.46% vs TQQQ's -81.66%.

Which ETF is better, SOXL or TQQQ?

On 10-year performance, SOXL leads with 63.57% vs 45.08% for TQQQ. On fees, SOXL is cheaper at 0.75% per year. On volatility, TQQQ has been the lower-risk option at 24.74%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SOXL or TQQQ?

Over the 10-year period, SOXL has performed better with a 63.57% return vs 45.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SOXL or TQQQ?

SOXL is cheaper with a 0.75% expense ratio, compared with 0.95% for TQQQ.

Which ETF pays a higher dividend yield, SOXL or TQQQ?

TQQQ has the higher dividend yield at 0.41%, compared with 0.03% for SOXL.

What is the main difference between SOXL and TQQQ?

SOXL tracks ICE Semiconductor Index, while TQQQ tracks NASDAQ-100 Index (300%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 0.75% for SOXL and 0.95% for TQQQ.

Which has better risk-adjusted returns?

SOXL currently has the higher Sharpe Ratio (8.93 vs 2.17), 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.