SOXL vs. TQQQ

Last updated Apr 1, 2026

Compare and contrast key facts about Direxion Daily Semiconductor Bull 3x Shares (SOXL) and ProShares UltraPro QQQ (TQQQ).

SOXL and TQQQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SOXL is a passively managed fund by Direxion that tracks the performance of the PHLX Semiconductor Index (300%). It was launched on Mar 11, 2010. TQQQ is a passively managed fund by ProShares that tracks the performance of the NASDAQ-100 Index (300%). It was launched on Feb 9, 2010. Both SOXL and TQQQ are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

SOXL vs. TQQQ - Performance Comparison

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

SOXL vs. TQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SOXL Direxion Daily Semiconductor Bull 3x Shares	13.99%	54.91%	-12.31%	226.98%	-85.66%	118.84%	70.04%	231.83%	-39.07%	141.71%
TQQQ ProShares UltraPro QQQ	-20.81%	34.35%	58.27%	198.04%	-79.09%	82.98%	110.05%	133.84%	-19.79%	118.06%

Returns By Period

In the year-to-date period, SOXL achieves a 13.99% return, which is significantly higher than TQQQ's -20.81% return. Over the past 10 years, SOXL has outperformed TQQQ with an annualized return of 39.88%, while TQQQ has yielded a comparatively lower 34.82% annualized return.

SOXL

• 1D: 17.95%
• 1M: -23.67%
• YTD: 13.99%
• 6M: 37.51%
• 1Y: 201.41%
• 3Y*: 38.75%
• 5Y*: 3.09%
• 10Y*: 39.88%

TQQQ

• 1D: 10.00%
• 1M: -15.69%
• YTD: -20.81%
• 6M: -19.12%
• 1Y: 46.49%
• 3Y*: 45.09%
• 5Y*: 12.72%
• 10Y*: 34.82%

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

SOXL vs. TQQQ - Expense Ratio Comparison

SOXL has a 0.99% expense ratio, which is higher than TQQQ's 0.95% expense ratio.

SOXL

Direxion Daily Semiconductor Bull 3x Shares

TQQQ

ProShares UltraPro QQQ

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: 90
SOXL Sharpe Ratio Rank: 86
SOXL Sortino Ratio Rank: 88
SOXL Omega Ratio Rank: 87
SOXL Calmar Ratio Rank: 96
SOXL Martin Ratio Rank: 92

TQQQ

TQQQ Risk / Return Rank: 50
TQQQ Sharpe Ratio Rank: 40
TQQQ Sortino Ratio Rank: 57
TQQQ Omega Ratio Rank: 56
TQQQ Calmar Ratio Rank: 55
TQQQ Martin Ratio Rank: 44

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 Shares (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.

	SOXL	TQQQ	Difference
Sharpe ratio Return per unit of total volatility	1.70	0.69	+1.01
Sortino ratio Return per unit of downside risk	2.34	1.37	+0.97
Omega ratio Gain probability vs. loss probability	1.34	1.19	+0.14
Calmar ratio Return relative to maximum drawdown	4.06	1.25	+2.80
Martin ratio Return relative to average drawdown	12.39	3.87	+8.52
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. TQQQ - Sharpe Ratio Comparison

The current SOXL Sharpe Ratio is 1.70, which is higher than the TQQQ Sharpe Ratio of 0.69. The chart below compares the historical Sharpe Ratios of SOXL and TQQQ, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SOXL	TQQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.70	0.69	+1.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.03	0.19	-0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.41	0.53	-0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	0.64	-0.29

Correlation

The correlation between SOXL and TQQQ is 0.83, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

SOXL vs. TQQQ - Dividend Comparison

SOXL's dividend yield for the trailing twelve months is around 0.16%, less than TQQQ's 0.76% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SOXL Direxion Daily Semiconductor Bull 3x Shares	0.16%	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	0.76%	0.65%	1.27%	1.26%	0.57%	0.00%	0.00%	0.06%	0.11%	0.00%	0.00%	0.01%

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	-49.26%	-36.97%	-12.29%
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	-33.33%	-30.66%	-2.67%
Average Drawdown Average peak-to-trough decline	-35.34%	-18.66%	-16.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.14%	12.00%	+4.14%

Volatility

SOXL vs. TQQQ - Volatility Comparison

Direxion Daily Semiconductor Bull 3x Shares (SOXL) has a higher volatility of 40.35% compared to ProShares UltraPro QQQ (TQQQ) at 19.43%. 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	40.35%	19.43%	+20.92%
Volatility (6M) Calculated over the trailing 6-month period	79.51%	38.32%	+41.19%
Volatility (1Y) Calculated over the trailing 1-year period	119.21%	67.26%	+51.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	105.43%	66.55%	+38.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	97.70%	65.83%	+31.87%