SOXU.TO vs. SOXL

Last updated Jul 14, 2026

SOXU.TO (MegaLong (3X) US Semiconductors Daily Leveraged Alternative ETF) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both Leveraged Equities funds - SOXU.TO tracks the Solactive US Semiconductor 30 Capped Index while SOXL tracks the ICE Semiconductor Index. Both are passively managed. Over the past year, SOXU.TO returned 490.49% vs 528.66% for SOXL. Their correlation of 0.85 suggests significant overlap in exposure. SOXU.TO charges 1.81%/yr vs 0.75%/yr for SOXL.

Performance

SOXU.TO vs. SOXL - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in MegaLong (3X) US Semiconductors Daily Leveraged Alternative ETF (SOXU.TO) and Direxion Daily Semiconductor Bull 3X ETF (SOXL). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

SOXU.TO is traded in CAD, while SOXL is traded in USD. To make them comparable, the SOXL values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, SOXU.TO achieves a 277.27% return, which is significantly lower than SOXL's 306.92% return.

SOXU.TO

• 1D: -14.30%
• 1M: -29.78%
• 6M: 195.11%
• YTD: 277.27%
• 1Y: 490.49%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SOXL

• 1D: -13.98%
• 1M: -28.57%
• 6M: 208.02%
• YTD: 306.92%
• 1Y: 528.66%
• 3Y*: 90.73%
• 5Y*: 35.53%
• 10Y*: 57.54%

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

SOXU.TO vs. SOXL - Yearly Performance Comparison

	2026 (YTD)	2025
SOXU.TO MegaLong (3X) US Semiconductors Daily Leveraged Alternative ETF	277.27%	173.80%
SOXL Direxion Daily Semiconductor Bull 3X ETF	306.92%	152.39%

Correlation

The correlation between SOXU.TO and SOXL is 0.91, 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	0.91
Correlation (All Time) Calculated using the full available price history since May 23, 2025	0.85

The correlation between SOXU.TO and SOXL has been stable across timeframes, ranging from 0.85 to 0.91 - a consistent structural relationship.

Return for Risk

SOXU.TO vs. SOXL — Risk / Return Rank

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

SOXU.TO

SOXU.TO Risk / Return Rank: 93
SOXU.TO Sharpe Ratio Rank: 98
SOXU.TO Sortino Ratio Rank: 84
SOXU.TO Omega Ratio Rank: 88
SOXU.TO Calmar Ratio Rank: 98
SOXU.TO Martin Ratio Rank: 97

SOXL

SOXL Risk / Return Rank: 93
SOXL Sharpe Ratio Rank: 98
SOXL Sortino Ratio Rank: 86
SOXL Omega Ratio Rank: 88
SOXL Calmar Ratio Rank: 98
SOXL 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.

SOXU.TO vs. SOXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MegaLong (3X) US Semiconductors Daily Leveraged Alternative ETF (SOXU.TO) 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.

	SOXU.TO	SOXL	Difference
Sharpe ratio: Return per unit of total volatility	3.92	4.31	-0.39
Sortino ratio: Return per unit of downside risk	3.00	3.14	-0.15
Omega ratio: Gain probability vs. loss probability	1.43	1.44	-0.01
Calmar ratio: Return relative to maximum drawdown	10.77	11.83	-1.06
Martin ratio: Return relative to average drawdown	31.69	34.78	-3.10

SOXU.TO vs. SOXL - Sharpe Ratio Comparison

The current SOXU.TO Sharpe Ratio is 3.92, which is comparable to the SOXL Sharpe Ratio of 4.31. The chart below compares the historical Sharpe Ratios of SOXU.TO 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

SOXU.TO vs. SOXL - Drawdown Comparison

The maximum SOXU.TO drawdown since its inception was -45.93%, smaller than the maximum SOXL drawdown of -89.76%. Use the drawdown chart below to compare losses from any high point for SOXU.TO and SOXL.

Drawdown Indicators

	SOXU.TO	SOXL	Difference
Max Drawdown Largest peak-to-trough decline	-45.93%	-89.76%	+43.83%
Max Drawdown (1Y) Largest decline over 1 year	-45.93%	-45.06%	-0.87%
Max Drawdown (3Y) Largest decline over 3 years	—	-87.34%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-89.76%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-89.76%	—
Current Drawdown Current decline from peak	-45.93%	-45.06%	-0.87%
Average Drawdown Average peak-to-trough decline	-9.73%	-33.84%	+24.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.58%	15.30%	+0.28%

Volatility

SOXU.TO vs. SOXL - Volatility Comparison

MegaLong (3X) US Semiconductors Daily Leveraged Alternative ETF (SOXU.TO) has a higher volatility of 70.96% compared to Direxion Daily Semiconductor Bull 3X ETF (SOXL) at 65.93%. This indicates that SOXU.TO's price experiences larger fluctuations and is considered to be riskier than SOXL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SOXU.TO	SOXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	70.96%	65.93%	+5.03%
Volatility (6M) Calculated over the trailing 6-month period	114.29%	108.54%	+5.75%
Volatility (1Y) Calculated over the trailing 1-year period	126.57%	124.11%	+2.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	121.54%	112.09%	+9.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	121.54%	101.70%	+19.84%

SOXU.TO vs. SOXL - Expense Ratio Comparison

SOXU.TO has a 1.81% expense ratio, which is higher than SOXL's 0.75% expense ratio.

Dividends

SOXU.TO vs. SOXL - Dividend Comparison

SOXU.TO has not paid dividends to shareholders, while SOXL's dividend yield for the trailing twelve months is around 0.01%.

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%
SOXU.TO MegaLong (3X) US Semiconductors Daily Leveraged Alternative ETF	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

Can I hold both SOXU.TO and SOXL in my portfolio?

With a correlation of 0.91, SOXU.TO 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 ETF is better, SOXU.TO or SOXL?

On fees, SOXL is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SOXU.TO or SOXL?

SOXL is cheaper with a 0.75% expense ratio, compared with 1.81% for SOXU.TO.

What is the main difference between SOXU.TO and SOXL?

SOXU.TO tracks Solactive US Semiconductor 30 Capped Index, while SOXL tracks ICE Semiconductor Index. They also come from different issuers: LongPoint and Direxion. Their fees differ too: 1.81% for SOXU.TO and 0.75% for SOXL.