SOXX vs. USD

Last updated Jun 4, 2026

SOXX (iShares Semiconductor ETF) and USD (ProShares Ultra Semiconductors) are both exchange-traded funds - SOXX is a Semiconductors fund tracking the NYSE Semiconductor Index, while USD is a Leveraged Equities fund tracking the Dow Jones U.S. Semiconductors Index (200%). Both are passively managed. Over the past 10 years, SOXX returned 35.79%/yr vs 62.16%/yr for USD. With a 0.95 correlation, they move nearly in lockstep. SOXX charges 0.34%/yr vs 0.95%/yr for USD.

Performance

SOXX vs. USD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Semiconductor ETF (SOXX) and ProShares Ultra Semiconductors (USD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SOXX achieves a 104.57% return, which is significantly lower than USD's 114.00% return. Over the past 10 years, SOXX has underperformed USD with an annualized return of 35.79%, while USD has yielded a comparatively higher 62.16% annualized return.

SOXX

• 1D: 1.76%
• 1M: 33.25%
• YTD: 104.57%
• 6M: 99.43%
• 1Y: 190.05%
• 3Y*: 57.39%
• 5Y*: 34.50%
• 10Y*: 35.79%

USD

• 1D: -1.14%
• 1M: 44.53%
• YTD: 114.00%
• 6M: 111.06%
• 1Y: 274.62%
• 3Y*: 127.67%
• 5Y*: 69.52%
• 10Y*: 62.16%

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

SOXX vs. USD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SOXX iShares Semiconductor ETF	104.57%	40.74%	12.92%	67.12%	-35.09%	44.09%	52.72%	62.42%	-6.49%	39.79%
USD ProShares Ultra Semiconductors	114.00%	62.08%	139.64%	228.79%	-68.57%	104.27%	68.16%	110.37%	-26.88%	81.72%

Correlation

The correlation between SOXX and USD is 0.81, 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	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Feb 2, 2007	0.95

The correlation between SOXX and USD shifts across timeframes, from 0.81 (1 year) to 0.95 (all time), reflecting how their relationship changes across market environments.

SOXX vs. USD - Sectors Allocation Comparison

Sectors	SOXX	USD
Technology	100.0%	27.4%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	0.0%
Financial Services	-	27.8%
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

SOXX vs. USD — Risk / Return Rank

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

SOXX

SOXX Risk / Return Rank: 97
SOXX Sharpe Ratio Rank: 98
SOXX Sortino Ratio Rank: 95
SOXX Omega Ratio Rank: 95
SOXX Calmar Ratio Rank: 97
SOXX Martin Ratio Rank: 97

USD

USD Risk / Return Rank: 90
USD Sharpe Ratio Rank: 97
USD Sortino Ratio Rank: 83
USD Omega Ratio Rank: 83
USD Calmar Ratio Rank: 95
USD 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. USD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Semiconductor ETF (SOXX) and ProShares Ultra Semiconductors (USD). 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.

	SOXX	USD	Difference
Sharpe ratio Return per unit of total volatility	5.61	4.53	+1.08
Sortino ratio Return per unit of downside risk	5.36	3.81	+1.55
Omega ratio Gain probability vs. loss probability	1.74	1.51	+0.23
Calmar ratio Return relative to maximum drawdown	12.13	8.70	+3.44
Martin ratio Return relative to average drawdown	46.43	25.16	+21.27
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SOXX vs. USD - Sharpe Ratio Comparison

The current SOXX Sharpe Ratio is 5.61, which is comparable to the USD Sharpe Ratio of 4.53. The chart below compares the historical Sharpe Ratios of SOXX and USD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SOXX	USD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.61	4.53	+1.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.96	0.91	+0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.07	0.90	+0.17
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.49	-0.04

Drawdowns

SOXX vs. USD - Drawdown Comparison

The maximum SOXX drawdown since its inception was -70.21%, smaller than the maximum USD drawdown of -88.63%. Use the drawdown chart below to compare losses from any high point for SOXX and USD.

Drawdown Indicators

	SOXX	USD	Difference
Max Drawdown Largest peak-to-trough decline	-70.21%	-88.63%	+18.42%
Max Drawdown (1Y) Largest decline over 1 year	-15.77%	-31.80%	+16.03%
Max Drawdown (3Y) Largest decline over 3 years	-41.36%	-64.46%	+23.10%
Max Drawdown (5Y) Largest decline over 5 years	-45.75%	-77.85%	+32.10%
Max Drawdown (10Y) Largest decline over 10 years	-45.75%	-77.85%	+32.10%
Current Drawdown Current decline from peak	0.00%	-1.14%	+1.14%
Average Drawdown Average peak-to-trough decline	-19.97%	-32.35%	+12.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.11%	10.97%	-6.86%

Volatility

SOXX vs. USD - Volatility Comparison

The current volatility for iShares Semiconductor ETF (SOXX) is 14.03%, while ProShares Ultra Semiconductors (USD) has a volatility of 20.36%. This indicates that SOXX experiences smaller price fluctuations and is considered to be less risky than USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SOXX	USD	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.03%	20.36%	-6.33%
Volatility (6M) Calculated over the trailing 6-month period	27.35%	46.39%	-19.04%
Volatility (1Y) Calculated over the trailing 1-year period	34.18%	61.22%	-27.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.11%	76.55%	-40.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.43%	69.23%	-35.80%

SOXX vs. USD - Expense Ratio Comparison

SOXX has a 0.34% expense ratio, which is lower than USD's 0.95% expense ratio.

Dividends

SOXX vs. USD - Dividend Comparison

SOXX's dividend yield for the trailing twelve months is around 0.27%, more than USD's 0.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SOXX iShares Semiconductor ETF	0.27%	0.57%	0.67%	0.78%	1.26%	0.64%	0.81%	1.23%	1.37%	0.90%	1.08%	1.29%
USD ProShares Ultra Semiconductors	0.21%	0.39%	0.10%	0.05%	0.30%	0.00%	0.14%	0.72%	0.93%	0.32%	0.46%	0.39%

Frequently Asked Questions

Can I hold both SOXX and USD in my portfolio?

SOXX and USD have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SOXX or USD?

USD has higher volatility (20.36%) compared to SOXX (14.03%). In terms of maximum drawdown, SOXX dropped -70.21% vs USD's -88.63%.

Which ETF is better, SOXX or USD?

On 10-year performance, USD leads with 62.16% vs 35.79% for SOXX. On fees, SOXX is cheaper at 0.34% per year. On volatility, SOXX has been the lower-risk option at 14.03%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SOXX or USD?

Over the 10-year period, USD has performed better with a 62.16% return vs 35.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SOXX or USD?

SOXX is cheaper with a 0.34% expense ratio, compared with 0.95% for USD.

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

SOXX has the higher dividend yield at 0.27%, compared with 0.21% for USD.

What is the main difference between SOXX and USD?

SOXX is categorized as Semiconductors, while USD is Leveraged Equities. SOXX tracks NYSE Semiconductor Index, while USD tracks Dow Jones U.S. Semiconductors Index (200%). They also come from different issuers: iShares and ProShares. Their fees differ too: 0.34% for SOXX and 0.95% for USD.

Which has better risk-adjusted returns?

SOXX currently has the higher Sharpe Ratio (5.61 vs 4.53), 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.