SOXL vs. USO
SOXL (Direxion Daily Semiconductor Bull 3X ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - SOXL is a Leveraged Equities fund tracking the ICE Semiconductor Index, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. Both are passively managed. Over the past 10 years, SOXL returned 64.43%/yr vs 3.57%/yr for USO. At a 0.20 correlation, their price movements are largely independent. SOXL charges 0.75%/yr vs 0.86%/yr for USO.
Performance
SOXL vs. USO - Performance Comparison
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Returns By Period
In the year-to-date period, SOXL achieves a 525.03% return, which is significantly higher than USO's 97.72% return. Over the past 10 years, SOXL has outperformed USO with an annualized return of 64.43%, while USO has yielded a comparatively lower 3.57% annualized return.
SOXL
- 1D
- -6.36%
- 1M
- 82.23%
- YTD
- 525.03%
- 6M
- 481.71%
- 1Y
- 1,280.87%
- 3Y*
- 133.82%
- 5Y*
- 46.78%
- 10Y*
- 64.43%
USO
- 1D
- -2.92%
- 1M
- -5.15%
- YTD
- 97.72%
- 6M
- 91.54%
- 1Y
- 97.20%
- 3Y*
- 28.78%
- 5Y*
- 23.67%
- 10Y*
- 3.57%
SOXL vs. USO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SOXL Direxion Daily Semiconductor Bull 3X ETF | 525.03% | 54.91% | -12.31% | 226.98% | -85.66% | 118.84% | 70.04% | 231.83% | -39.07% | 141.71% |
USO United States Oil Fund LP | 97.72% | -8.46% | 13.35% | -4.94% | 28.97% | 64.68% | -67.79% | 32.61% | -19.57% | 2.47% |
Correlation
The correlation between SOXL and USO is -0.19, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Mar 12, 2010 | 0.20 |
The correlation between SOXL and USO shifts across timeframes, from -0.19 (1 year) to 0.20 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SOXL vs. USO — Risk / Return Rank
SOXL
USO
SOXL vs. USO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Semiconductor Bull 3X ETF (SOXL) and United States Oil Fund LP (USO). 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 | USO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +10.48 | ||
| Sortino ratioReturn per unit of downside risk | +2.18 | ||
| Omega ratioGain probability vs. loss probability | 1.69 | 1.37 | +0.32 |
| Calmar ratioReturn relative to maximum drawdown | 29.80 | 4.79 | +25.00 |
| Martin ratioReturn relative to average drawdown | 102.14 | 9.00 | +93.14 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SOXL | USO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 12.69 | 2.21 | +10.48 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.44 | 0.66 | -0.22 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.65 | 0.09 | +0.56 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.51 | -0.18 | +0.69 |
Drawdowns
SOXL vs. USO - Drawdown Comparison
The maximum SOXL drawdown since its inception was -90.46%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for SOXL and USO.
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Drawdown Indicators
| SOXL | USO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -90.46% | -98.19% | +7.73% |
Max Drawdown (1Y)Largest decline over 1 year | -43.47% | -20.39% | -23.08% |
Max Drawdown (3Y)Largest decline over 3 years | -87.88% | -26.05% | -61.83% |
Max Drawdown (5Y)Largest decline over 5 years | -90.46% | -36.23% | -54.23% |
Max Drawdown (10Y)Largest decline over 10 years | -90.46% | -86.75% | -3.71% |
Current DrawdownCurrent decline from peak | -6.36% | -85.45% | +79.09% |
Average DrawdownAverage peak-to-trough decline | -35.01% | -75.30% | +40.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.66% | 10.84% | +1.82% |
Volatility
SOXL vs. USO - Volatility Comparison
Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a higher volatility of 41.05% compared to United States Oil Fund LP (USO) at 14.97%. This indicates that SOXL's price experiences larger fluctuations and is considered to be riskier than USO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SOXL | USO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 41.05% | 14.97% | +26.08% |
Volatility (6M)Calculated over the trailing 6-month period | 81.57% | 38.35% | +43.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 102.16% | 44.32% | +57.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 107.25% | 36.09% | +71.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 99.05% | 39.00% | +60.05% |
SOXL vs. USO - Expense Ratio Comparison
SOXL has a 0.75% expense ratio, which is lower than USO's 0.86% expense ratio.
Dividends
SOXL vs. USO - Dividend Comparison
SOXL's dividend yield for the trailing twelve months is around 0.03%, while USO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
USO United States Oil Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SOXL and USO have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXL has higher volatility (41.05%) compared to USO (14.97%). In terms of maximum drawdown, SOXL dropped -90.46% vs USO's -98.19%.
On 10-year performance, SOXL leads with 64.43% vs 3.57% for USO. On fees, SOXL is cheaper at 0.75% per year. On volatility, USO has been the lower-risk option at 14.97%. 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 64.43% return vs 3.57%. 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 0.86% for USO.
SOXL has the higher dividend yield at 0.03%, compared with 0.00% for USO.
SOXL is categorized as Leveraged Equities, while USO is Oil & Gas. SOXL tracks ICE Semiconductor Index, while USO tracks Front Month Light Sweet Crude Oil. They also come from different issuers: Direxion and USCF. Their fees differ too: 0.75% for SOXL and 0.86% for USO.
SOXL currently has the higher Sharpe Ratio (12.69 vs 2.21), 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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