SOXX vs. SOXL

Last updated Jul 29, 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 31.64%/yr vs 47.30%/yr for SOXL. Their 1.00 correlation means they have historically moved very closely together. 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.

Returns By Period

In the year-to-date period, SOXX achieves a 63.37% return, which is significantly lower than SOXL's 160.62% return. Over the past 10 years, SOXX has underperformed SOXL with an annualized return of 31.64%, while SOXL has yielded a comparatively higher 47.30% annualized return.

SOXX

• 1D: -4.80%
• 1M: -16.69%
• 6M: 40.14%
• YTD: 63.37%
• 1Y: 100.92%
• 3Y*: 41.31%
• 5Y*: 27.62%
• 10Y*: 31.64%
• ALL TIME*: 13.71%

SOXL

• 1D: -14.52%
• 1M: -49.19%
• 6M: 68.63%
• YTD: 160.62%
• 1Y: 307.63%
• 3Y*: 58.27%
• 5Y*: 21.04%
• 10Y*: 47.30%
• ALL TIME*: 37.64%

*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	$10.42B	$10.60B	$11.50B
SOXX iShares Semiconductor ETF	$5.51B	$5.58B	$5.57B

SOXX vs. SOXL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SOXX iShares Semiconductor ETF	63.37%	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	160.62%	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 - 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.	1.00
Correlation (3Y) Balances recent behavior with more history.	1.00
Correlation (5Y) Shows whether the relationship held over a longer period.	1.00
Correlation (10Y) Provides a long-term view across more market conditions.	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	-	-

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: 88
SOXX Sharpe Ratio Rank: 92
SOXX Sortino Ratio Rank: 82
SOXX Omega Ratio Rank: 84
SOXX Calmar Ratio Rank: 91
SOXX Martin Ratio Rank: 92

SOXL

SOXL Risk / Return Rank: 88
SOXL Sharpe Ratio Rank: 93
SOXL Sortino Ratio Rank: 79
SOXL Omega Ratio Rank: 81
SOXL Calmar Ratio Rank: 94
SOXL Martin Ratio Rank: 93

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.

	SOXX	SOXL	Difference
Sharpe ratio: Return per unit of total volatility	2.34	2.43	-0.09
Sortino ratio: Return per unit of downside risk	2.67	2.55	+0.12
Omega ratio: Gain probability vs. loss probability	1.36	1.34	+0.02
Calmar ratio: Return relative to maximum drawdown	4.06	4.87	-0.81
Martin ratio: Return relative to average drawdown	15.98	16.41	-0.43

SOXX vs. SOXL - Sharpe Ratio Comparison

The current SOXX Sharpe Ratio is 2.34, which is comparable to the SOXL Sharpe Ratio of 2.43. 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.

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.

Drawdown Indicators

	SOXX	SOXL	Difference
Max Drawdown Largest peak-to-trough decline	-70.21%	-90.46%	+20.25%
Max Drawdown (1Y) Largest decline over 1 year	-24.97%	-63.58%	+38.61%
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	-24.97%	-63.58%	+38.61%
Average Drawdown Average peak-to-trough decline	-19.91%	-34.98%	+15.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.34%	18.84%	-12.50%

Volatility

SOXX vs. SOXL - Volatility Comparison

The current volatility for iShares Semiconductor ETF (SOXX) is 17.20%, while Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a volatility of 50.95%. 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.

Volatility by Period

	SOXX	SOXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.20%	50.95%	-33.75%
Volatility (6M) Calculated over the trailing 6-month period	37.78%	112.43%	-74.65%
Volatility (1Y) Calculated over the trailing 1-year period	43.36%	127.74%	-84.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.00%	112.51%	-74.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.41%	101.73%	-67.32%

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 0.30%, more than SOXL's 0.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%
SOXX iShares Semiconductor ETF	0.30%	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

Can I hold both SOXX and SOXL in my portfolio?

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.

Which is riskier, SOXX or SOXL?

SOXL has higher volatility (50.95%) compared to SOXX (17.20%). In terms of maximum drawdown, SOXX dropped -70.21% vs SOXL's -90.46%.

Which ETF is better, SOXX or SOXL?

On 10-year performance, SOXL leads with 47.30% vs 31.64% for SOXX. On fees, SOXX is cheaper at 0.34% per year. On volatility, SOXX has been the lower-risk option at 17.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SOXX or SOXL?

Over the 10-year period, SOXL has performed better with a 47.30% return vs 31.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SOXX or SOXL?

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

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

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

What is the main difference between SOXX and 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.

Which has better risk-adjusted returns?

SOXL currently has the higher Sharpe Ratio (2.43 vs 2.34), 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.