SPYQ vs. SOXL

Last updated Jun 3, 2026

SPYQ (Tradr 2X Long SPY Quarterly ETF) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both Leveraged Equities funds. SPYQ is actively managed, while SOXL is passively managed. Over the past year, SPYQ returned 51.99% vs 1481.30% for SOXL. A 0.75 correlation means they provide meaningful diversification when combined. SPYQ charges 1.30%/yr vs 0.75%/yr for SOXL.

Performance

SPYQ vs. SOXL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tradr 2X Long SPY Quarterly ETF (SPYQ) 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, SPYQ achieves a 18.82% return, which is significantly lower than SOXL's 533.64% return.

SPYQ

• 1D: 0.26%
• 1M: 9.36%
• YTD: 18.82%
• 6M: 18.88%
• 1Y: 51.99%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SOXL

• 1D: 17.31%
• 1M: 104.23%
• YTD: 533.64%
• 6M: 508.04%
• 1Y: 1,481.30%
• 3Y*: 131.09%
• 5Y*: 49.21%
• 10Y*: 64.53%

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

SPYQ vs. SOXL - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SPYQ Tradr 2X Long SPY Quarterly ETF	18.82%	26.22%	4.76%
SOXL Direxion Daily Semiconductor Bull 3X ETF	533.64%	54.91%	-19.05%

Correlation

The correlation between SPYQ and SOXL is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.72
Correlation (All Time) Calculated using the full available price history since Oct 2, 2024	0.75

The correlation between SPYQ and SOXL has been stable across timeframes, ranging from 0.72 to 0.75 - a consistent structural relationship.

Return for Risk

SPYQ vs. SOXL — Risk / Return Rank

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

SPYQ

SPYQ Risk / Return Rank: 62
SPYQ Sharpe Ratio Rank: 65
SPYQ Sortino Ratio Rank: 58
SPYQ Omega Ratio Rank: 61
SPYQ Calmar Ratio Rank: 56
SPYQ Martin Ratio Rank: 68

SOXL

SOXL Risk / Return Rank: 98
SOXL Sharpe Ratio Rank: 100
SOXL Sortino Ratio Rank: 95
SOXL Omega Ratio Rank: 95
SOXL Calmar Ratio Rank: 99
SOXL Martin Ratio Rank: 99

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.

SPYQ vs. SOXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tradr 2X Long SPY Quarterly ETF (SPYQ) 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.

	SPYQ	SOXL	Difference
Sharpe ratio Return per unit of total volatility	2.20	14.69	-12.49
Sortino ratio Return per unit of downside risk	2.82	5.22	-2.40
Omega ratio Gain probability vs. loss probability	1.37	1.73	-0.35
Calmar ratio Return relative to maximum drawdown	2.85	35.72	-32.87
Martin ratio Return relative to average drawdown	12.80	122.73	-109.92
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPYQ vs. SOXL - Sharpe Ratio Comparison

The current SPYQ Sharpe Ratio is 2.20, which is lower than the SOXL Sharpe Ratio of 14.69. The chart below compares the historical Sharpe Ratios of SPYQ 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.

Sharpe Ratios by Period

	SPYQ	SOXL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.20	14.69	-12.49
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.46	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.65	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.91	0.51	+0.40

Drawdowns

SPYQ vs. SOXL - Drawdown Comparison

The maximum SPYQ drawdown since its inception was -35.88%, smaller than the maximum SOXL drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for SPYQ and SOXL.

Drawdown Indicators

	SPYQ	SOXL	Difference
Max Drawdown Largest peak-to-trough decline	-35.88%	-90.46%	+54.58%
Max Drawdown (1Y) Largest decline over 1 year	-18.70%	-43.47%	+24.77%
Max Drawdown (3Y) Largest decline over 3 years	—	-87.88%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-90.46%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-90.46%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-4.90%	-35.02%	+30.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.16%	12.65%	-8.49%

Volatility

SPYQ vs. SOXL - Volatility Comparison

The current volatility for Tradr 2X Long SPY Quarterly ETF (SPYQ) is 5.11%, while Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a volatility of 41.22%. This indicates that SPYQ 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

	SPYQ	SOXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.11%	41.22%	-36.11%
Volatility (6M) Calculated over the trailing 6-month period	18.07%	81.21%	-63.14%
Volatility (1Y) Calculated over the trailing 1-year period	23.73%	102.08%	-78.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.64%	107.26%	-72.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.64%	99.05%	-64.41%

SPYQ vs. SOXL - Expense Ratio Comparison

SPYQ has a 1.30% expense ratio, which is higher than SOXL's 0.75% expense ratio.

Dividends

SPYQ vs. SOXL - Dividend Comparison

SPYQ's dividend yield for the trailing twelve months is around 0.14%, more than SOXL's 0.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
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%
SPYQ Tradr 2X Long SPY Quarterly ETF	0.14%	0.17%	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 SPYQ and SOXL in my portfolio?

SPYQ and SOXL have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPYQ or SOXL?

SOXL has higher volatility (41.22%) compared to SPYQ (5.11%). In terms of maximum drawdown, SPYQ dropped -35.88% vs SOXL's -90.46%.

Which ETF is better, SPYQ or SOXL?

On 1-year performance, SOXL leads with 1481.30% vs 51.99% for SPYQ. On fees, SOXL is cheaper at 0.75% per year. On volatility, SPYQ has been the lower-risk option at 5.11%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPYQ or SOXL?

Over the 1-year period, SOXL has performed better with a 1481.30% return vs 51.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPYQ or SOXL?

SOXL is cheaper with a 0.75% expense ratio, compared with 1.30% for SPYQ.

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

SPYQ has the higher dividend yield at 0.14%, compared with 0.03% for SOXL.

What is the main difference between SPYQ and SOXL?

They also come from different issuers: AXS and Direxion. Their fees differ too: 1.30% for SPYQ and 0.75% for SOXL.

Which has better risk-adjusted returns?

SOXL currently has the higher Sharpe Ratio (14.69 vs 2.20), 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.