SOXQ vs. SOXL

Last updated Aug 5, 2026

SOXQ (Invesco PHLX Semiconductor ETF) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both exchange-traded funds - SOXQ is a Semiconductors fund tracking the PHLX Semiconductor Sector Index, while SOXL is a Leveraged Equities fund tracking the NYSE Semiconductor Index. Both are passively managed. Over the past 5 years, SOXQ returned 29.96%/yr vs 25.04%/yr for SOXL. Their 0.99 correlation means they have historically moved very closely together. SOXQ charges 0.19%/yr vs 0.75%/yr for SOXL.

Performance

SOXQ vs. SOXL - Performance Comparison

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

Returns By Period

In the year-to-date period, SOXQ achieves a 72.20% return, which is significantly lower than SOXL's 232.86% return.

SOXQ

• 1D: 6.53%
• 1M: -3.45%
• 6M: 53.12%
• YTD: 72.20%
• 1Y: 117.36%
• 3Y*: 49.65%
• 5Y*: 29.96%
• 10Y*: —
• ALL TIME*: 30.79%

SOXL

• 1D: 19.87%
• 1M: -22.91%
• 6M: 128.59%
• YTD: 232.86%
• 1Y: 459.76%
• 3Y*: 78.93%
• 5Y*: 25.04%
• 10Y*: 50.55%
• ALL TIME*: 39.66%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SOXL Direxion Daily Semiconductor Bull 3X ETF	$11.04B	$10.45B	$11.85B
SOXQ Invesco PHLX Semiconductor ETF	$214.44M	$218.73M	$282.51M

SOXQ vs. SOXL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SOXQ Invesco PHLX Semiconductor ETF	72.20%	43.11%	20.16%	66.74%	-35.59%	25.19%
SOXL Direxion Daily Semiconductor Bull 3X ETF	232.86%	54.91%	-12.31%	226.98%	-85.66%	74.25%

Correlation

The correlation between SOXQ and SOXL is 0.99 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.99
Correlation (3Y) Balances recent behavior with more history.	0.99
Correlation (5Y) Shows whether the relationship held over a longer period.	0.99
Correlation (All Time) Calculated using the full available price history since Jun 11, 2021	0.99

The correlation between SOXQ and SOXL has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.

SOXQ vs. SOXL - Sectors Allocation Comparison

Sectors	SOXQ	SOXL
Technology	99.9%	100.0%
Financial Services	0.1%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

SOXQ vs. SOXL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SOXQ

SOXQ Risk / Return Rank: 88
SOXQ Sharpe Ratio Rank: 93
SOXQ Sortino Ratio Rank: 82
SOXQ Omega Ratio Rank: 85
SOXQ Calmar Ratio Rank: 90
SOXQ Martin Ratio Rank: 91

SOXL

SOXL Risk / Return Rank: 91
SOXL Sharpe Ratio Rank: 97
SOXL Sortino Ratio Rank: 82
SOXL Omega Ratio Rank: 84
SOXL Calmar Ratio Rank: 96
SOXL Martin Ratio Rank: 95

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SOXQ vs. SOXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco PHLX Semiconductor ETF (SOXQ) and Direxion Daily Semiconductor Bull 3X ETF (SOXL). 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.

	SOXQ	SOXL	Difference
Sharpe ratio: Return per unit of total volatility	2.70	3.52	-0.82
Sortino ratio: Return per unit of downside risk	2.96	2.94	+0.01
Omega ratio: Gain probability vs. loss probability	1.40	1.40	0.00
Calmar ratio: Return relative to maximum drawdown	4.13	6.68	-2.55
Martin ratio: Return relative to average drawdown	16.72	22.38	-5.66

SOXQ vs. SOXL - Sharpe Ratio Comparison

The current SOXQ Sharpe Ratio is 2.70, which is comparable to the SOXL Sharpe Ratio of 3.52. The chart below compares the historical Sharpe Ratios of SOXQ and SOXL, 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

SOXQ vs. SOXL - Drawdown Comparison

The maximum SOXQ drawdown since its inception was -46.01%, smaller than the maximum SOXL drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for SOXQ and SOXL.

Drawdown Indicators

	SOXQ	SOXL	Difference
Max Drawdown Largest peak-to-trough decline	-46.01%	-90.46%	+44.45%
Max Drawdown (1Y) Largest decline over 1 year	-28.56%	-69.42%	+40.86%
Max Drawdown (3Y) Largest decline over 3 years	-39.36%	-87.88%	+48.52%
Max Drawdown (5Y) Largest decline over 5 years	-46.01%	-90.46%	+44.45%
Max Drawdown (10Y) Largest decline over 10 years	—	-90.46%	—
Current Drawdown Current decline from peak	-16.72%	-53.49%	+36.77%
Average Drawdown Average peak-to-trough decline	-12.93%	-35.02%	+22.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.05%	20.68%	-13.63%

Volatility

SOXQ vs. SOXL - Volatility Comparison

The current volatility for Invesco PHLX Semiconductor ETF (SOXQ) is 17.65%, while Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a volatility of 53.63%. This indicates that SOXQ experiences smaller price fluctuations and is considered to be less risky than SOXL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SOXQ	SOXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.65%	53.63%	-35.98%
Volatility (6M) Calculated over the trailing 6-month period	37.94%	115.96%	-78.02%
Volatility (1Y) Calculated over the trailing 1-year period	43.80%	131.85%	-88.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.40%	113.58%	-75.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.01%	102.32%	-64.31%

SOXQ vs. SOXL - Expense Ratio Comparison

SOXQ has a 0.19% expense ratio, which is lower than SOXL's 0.75% expense ratio.

Dividends

SOXQ vs. SOXL - Dividend Comparison

SOXQ's dividend yield for the trailing twelve months is around 0.30%, more than SOXL's 0.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
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%
SOXQ Invesco PHLX Semiconductor ETF	0.30%	0.50%	0.68%	0.87%	1.36%	0.72%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SOXQ and SOXL in my portfolio?

With a correlation of 0.99, SOXQ and SOXL move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, SOXQ or SOXL?

SOXL has higher volatility (53.63%) compared to SOXQ (17.65%). In terms of maximum drawdown, SOXQ dropped -46.01% vs SOXL's -90.46%.

Which ETF is better, SOXQ or SOXL?

On 5-year performance, SOXQ leads with 29.96% vs 25.04% for SOXL. On fees, SOXQ is cheaper at 0.19% per year. On volatility, SOXQ has been the lower-risk option at 17.65%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SOXQ or SOXL?

Over the 5-year period, SOXQ has performed better with a 29.96% return vs 25.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SOXQ or SOXL?

SOXQ is cheaper with a 0.19% expense ratio, compared with 0.75% for SOXL.

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

SOXQ has the higher dividend yield at 0.30%, compared with 0.01% for SOXL.

What is the main difference between SOXQ and SOXL?

SOXQ is categorized as Semiconductors, while SOXL is Leveraged Equities. SOXQ tracks PHLX Semiconductor Sector Index, while SOXL tracks NYSE Semiconductor Index. They also come from different issuers: Invesco and Direxion. Their fees differ too: 0.19% for SOXQ and 0.75% for SOXL.

Which has better risk-adjusted returns?

SOXL currently has the higher Sharpe Ratio (3.52 vs 2.70), 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.