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SOXX vs. SOXL
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SOXX vs. SOXL

Last updated Jun 18, 2026

SOXX (iShares Semiconductor ETF) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both exchange-traded funds - SOXX is a Semiconductors fund tracking the NYSE Semiconductor Index, while SOXL is a Leveraged Equities fund tracking the ICE Semiconductor Index. Both are passively managed. Over the past 10 years, SOXX returned 35.75%/yr vs 63.57%/yr for SOXL. With a 1.00 correlation, they move nearly in lockstep. SOXX charges 0.34%/yr vs 0.75%/yr for SOXL.

Performance

SOXX vs. SOXL - Performance Comparison

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

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Returns By Period

In the year-to-date period, SOXX achieves a 99.36% return, which is significantly lower than SOXL's 456.41% return. Over the past 10 years, SOXX has underperformed SOXL with an annualized return of 35.75%, while SOXL has yielded a comparatively higher 63.57% annualized return.

SOXX

1D
1.44%
1M
21.00%
YTD
99.36%
6M
110.49%
1Y
167.03%
3Y*
53.50%
5Y*
34.32%
10Y*
35.75%

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

SOXX vs. SOXL - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SOXX
iShares Semiconductor ETF		99.36%40.74%12.92%67.12%-35.09%44.09%52.72%62.42%-6.49%39.79%
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%

Correlation

The correlation between SOXX and SOXL is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

1.00

Correlation (3Y)
Calculated over the trailing 3-year period

1.00

Correlation (5Y)
Calculated over the trailing 5-year period

1.00

Correlation (10Y)
Calculated over the trailing 10-year period

1.00

Correlation (All Time)
Calculated using the full available price history since Mar 11, 2010

1.00

The correlation between SOXX and SOXL has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

SOXX vs. SOXL - Sectors Allocation Comparison

Sectors
SOXX
SOXL

Technology

100.0%
100.0%

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Financial Services

-

-

Healthcare

-

-

Industrials

-

-

Real Estate

-

-

Utilities

-

-

Technology

SOXX
100.0%
SOXL
100.0%

Basic Materials

SOXX

-

SOXL

-

Communication Services

SOXX

-

SOXL

-

Consumer Cyclical

SOXX

-

SOXL

-

Consumer Defensive

SOXX

-

SOXL

-

Energy

SOXX

-

SOXL

-

Financial Services

SOXX

-

SOXL

-

Healthcare

SOXX

-

SOXL

-

Industrials

SOXX

-

SOXL

-

Real Estate

SOXX

-

SOXL

-

Utilities

SOXX

-

SOXL

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Semiconductor ETF

Direxion Daily Semiconductor Bull 3X ETF

Often compared with SOXX:
SOXX vs. SMHSOXX vs. QQQSOXX vs. SOXQSOXX vs. FSELXSOXX vs. VGTSOXX vs. VOOSOXX vs. SOXS
Often compared with SOXL:
SOXL vs. TQQQSOXL vs. SOXSSOXL vs. USDSOXL vs. TECLSOXL vs. NVDLSOXL vs. SPYSOXL vs. QQQ

Return for Risk

SOXX vs. SOXL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SOXX
SOXX Risk / Return Rank: 9696
Overall Rank
SOXX Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
SOXX Sortino Ratio Rank: 9393
Sortino Ratio Rank
SOXX Omega Ratio Rank: 9494
Omega Ratio Rank
SOXX Calmar Ratio Rank: 9797
Calmar Ratio Rank
SOXX Martin Ratio Rank: 9797
Martin Ratio Rank
SOXL
SOXL Risk / Return Rank: 9696
Overall Rank
SOXL Sharpe Ratio Rank: 9999
Sharpe Ratio Rank
SOXL Sortino Ratio Rank: 9292
Sortino Ratio Rank
SOXL Omega Ratio Rank: 9393
Omega Ratio Rank
SOXL Calmar Ratio Rank: 9999
Calmar Ratio Rank
SOXL Martin Ratio Rank: 9898
Martin Ratio Rank
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.

SOXX vs. SOXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Semiconductor ETF (SOXX) 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.

SOXXSOXLDifference
Sharpe ratioReturn per unit of total volatility
4.42
8.93

-4.51

Sortino ratioReturn per unit of downside risk
4.32
4.18

+0.14

Omega ratioGain probability vs. loss probability

1.62

1.60

+0.02

Calmar ratioReturn relative to maximum drawdown

10.66

23.14

-12.48

Martin ratioReturn relative to average drawdown

38.57

74.72

-36.15

SOXX vs. SOXL - Sharpe Ratio Comparison

The current SOXX Sharpe Ratio is 4.42, which is lower than the SOXL Sharpe Ratio of 8.93. The chart below compares the historical Sharpe Ratios of SOXX 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.

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Drawdowns

SOXX vs. SOXL - Drawdown Comparison

The maximum SOXX drawdown since its inception was -70.21%, smaller than the maximum SOXL drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for SOXX and SOXL.

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Drawdown Indicators

SOXXSOXLDifference

Max Drawdown

Largest peak-to-trough decline

-70.21%

-90.46%

+20.25%

Max Drawdown (1Y)

Largest decline over 1 year

-15.77%

-43.47%

+27.70%

Max Drawdown (3Y)

Largest decline over 3 years

-41.36%

-87.88%

+46.52%

Max Drawdown (5Y)

Largest decline over 5 years

-45.75%

-90.46%

+44.71%

Max Drawdown (10Y)

Largest decline over 10 years

-45.75%

-90.46%

+44.71%

Current Drawdown

Current decline from peak

-4.57%

-16.64%

+12.07%

Average Drawdown

Average peak-to-trough decline

-19.95%

-34.97%

+15.02%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.35%

13.44%

-9.09%

Volatility

SOXX vs. SOXL - Volatility Comparison

The current volatility for iShares Semiconductor ETF (SOXX) is 20.31%, while Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a volatility of 60.81%. This indicates that SOXX 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.

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Volatility by Period

SOXXSOXLDifference

Volatility (1M)

Calculated over the trailing 1-month period

20.31%

60.81%

-40.50%

Volatility (6M)

Calculated over the trailing 6-month period

32.03%

95.43%

-63.40%

Volatility (1Y)

Calculated over the trailing 1-year period

38.01%

112.67%

-74.66%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

36.91%

109.48%

-72.57%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

33.87%

100.28%

-66.41%

SOXX vs. SOXL - Expense Ratio Comparison

SOXX has a 0.34% expense ratio, which is lower than SOXL's 0.75% expense ratio.

Dividends

SOXX vs. SOXL - Dividend Comparison

SOXX's dividend yield for the trailing twelve months is around 0.24%, more than SOXL's 0.03% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
SOXX
iShares Semiconductor ETF		0.24%0.57%0.67%0.78%1.26%0.64%0.81%1.23%1.37%0.90%1.08%1.29%

Frequently Asked Questions

With a correlation of 1.00, SOXX 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.

SOXL has higher volatility (60.81%) compared to SOXX (20.31%). In terms of maximum drawdown, SOXX dropped -70.21% vs SOXL's -90.46%.

On 10-year performance, SOXL leads with 63.57% vs 35.75% for SOXX. On fees, SOXX is cheaper at 0.34% per year. On volatility, SOXX has been the lower-risk option at 20.31%. 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 63.57% return vs 35.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SOXX is cheaper with a 0.34% expense ratio, compared with 0.75% for SOXL.

SOXX has the higher dividend yield at 0.24%, compared with 0.03% for SOXL.

SOXX is categorized as Semiconductors, while SOXL is Leveraged Equities. SOXX tracks NYSE Semiconductor Index, while SOXL tracks ICE Semiconductor Index. They also come from different issuers: iShares and Direxion. Their fees differ too: 0.34% for SOXX and 0.75% for SOXL.

SOXL currently has the higher Sharpe Ratio (8.93 vs 4.42), 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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