SSG vs. SOXL

Last updated Jun 23, 2026

SSG (Proshares Ultrashort Semiconductors) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both Leveraged Equities funds - SSG tracks the Dow Jones U.S. Semiconductors Index (-200%) while SOXL tracks the ICE Semiconductor Index. Both are passively managed. Over the past 10 years, SSG returned -62.52%/yr vs 68.93%/yr for SOXL. At a correlation of -0.93, they often move in opposite directions. SSG charges 0.95%/yr vs 0.75%/yr for SOXL.

Performance

SSG vs. SOXL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Proshares Ultrashort Semiconductors (SSG) 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, SSG achieves a -63.37% return, which is significantly lower than SOXL's 615.61% return. Over the past 10 years, SSG has underperformed SOXL with an annualized return of -62.52%, while SOXL has yielded a comparatively higher 68.93% annualized return.

SSG

• 1D: -0.80%
• 1M: -21.37%
• YTD: -63.37%
• 6M: -63.97%
• 1Y: -81.41%
• 3Y*: -75.00%
• 5Y*: -67.22%
• 10Y*: -62.52%

SOXL

• 1D: 7.69%
• 1M: 57.83%
• YTD: 615.61%
• 6M: 595.26%
• 1Y: 1,322.96%
• 3Y*: 141.01%
• 5Y*: 51.34%
• 10Y*: 68.93%

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

SSG vs. SOXL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SSG Proshares Ultrashort Semiconductors	-63.37%	-70.03%	-77.59%	-78.69%	37.90%	-67.46%	-76.50%	-63.33%	-0.79%	-51.60%
SOXL Direxion Daily Semiconductor Bull 3X ETF	615.61%	54.91%	-12.31%	226.98%	-85.66%	118.84%	70.04%	231.83%	-39.07%	141.71%

Correlation

The correlation between SSG and SOXL is -0.82, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.82
Correlation (3Y) Calculated over the trailing 3-year period	-0.86
Correlation (5Y) Calculated over the trailing 5-year period	-0.92
Correlation (10Y) Calculated over the trailing 10-year period	-0.93
Correlation (All Time) Calculated using the full available price history since Mar 11, 2010	-0.93

The correlation between SSG and SOXL shifts across timeframes, from -0.93 (10 years) to -0.82 (1 year), reflecting how their relationship changes across market environments.

SSG vs. SOXL - Sectors Allocation Comparison

Sectors	SSG	SOXL
Financial Services	116.6%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	100.0%
Utilities	-	-

Return for Risk

SSG vs. SOXL — Risk / Return Rank

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

SSG

SSG Risk / Return Rank: 0
SSG Sharpe Ratio Rank: 0
SSG Sortino Ratio Rank: 0
SSG Omega Ratio Rank: 0
SSG Calmar Ratio Rank: 0
SSG Martin Ratio Rank: 1

SOXL

SOXL Risk / Return Rank: 97
SOXL Sharpe Ratio Rank: 100
SOXL Sortino Ratio Rank: 94
SOXL Omega Ratio Rank: 94
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.

SSG vs. SOXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Proshares Ultrashort Semiconductors (SSG) 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.

	SSG	SOXL	Difference
Sharpe ratio: Return per unit of total volatility	-1.21	11.72	-12.92
Sortino ratio: Return per unit of downside risk	-2.86	4.57	-7.43
Omega ratio: Gain probability vs. loss probability	0.69	1.65	-0.96
Calmar ratio: Return relative to maximum drawdown	-1.00	30.78	-31.78
Martin ratio: Return relative to average drawdown	-1.60	99.38	-100.98

SSG vs. SOXL - Sharpe Ratio Comparison

The current SSG Sharpe Ratio is -1.21, which is lower than the SOXL Sharpe Ratio of 11.72. The chart below compares the historical Sharpe Ratios of SSG 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

SSG vs. SOXL - Drawdown Comparison

The maximum SSG drawdown since its inception was -100.00%, which is greater than SOXL's maximum drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for SSG and SOXL.

Drawdown Indicators

	SSG	SOXL	Difference
Max Drawdown Largest peak-to-trough decline	-100.00%	-90.46%	-9.54%
Max Drawdown (1Y) Largest decline over 1 year	-81.20%	-43.47%	-37.73%
Max Drawdown (3Y) Largest decline over 3 years	-98.56%	-87.88%	-10.68%
Max Drawdown (5Y) Largest decline over 5 years	-99.66%	-90.46%	-9.20%
Max Drawdown (10Y) Largest decline over 10 years	-99.99%	-90.46%	-9.53%
Current Drawdown Current decline from peak	-100.00%	0.00%	-100.00%
Average Drawdown Average peak-to-trough decline	-88.60%	-34.95%	-53.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	51.37%	13.44%	+37.93%

Volatility

SSG vs. SOXL - Volatility Comparison

The current volatility for Proshares Ultrashort Semiconductors (SSG) is 30.98%, while Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a volatility of 62.02%. This indicates that SSG 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

	SSG	SOXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	30.98%	62.02%	-31.04%
Volatility (6M) Calculated over the trailing 6-month period	53.34%	96.02%	-42.68%
Volatility (1Y) Calculated over the trailing 1-year period	67.65%	114.45%	-46.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	78.35%	109.85%	-31.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	69.58%	100.50%	-30.92%

SSG vs. SOXL - Expense Ratio Comparison

SSG has a 0.95% expense ratio, which is higher than SOXL's 0.75% expense ratio.

Dividends

SSG vs. SOXL - Dividend Comparison

SSG's dividend yield for the trailing twelve months is around 14.25%, 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%
SSG Proshares Ultrashort Semiconductors	14.25%	9.19%	7.67%	6.73%	0.75%	0.00%	0.34%	1.81%	0.62%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SSG and SOXL in my portfolio?

SSG and SOXL have a correlation of -0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SSG or SOXL?

SOXL has higher volatility (62.02%) compared to SSG (30.98%). In terms of maximum drawdown, SSG dropped -100.00% vs SOXL's -90.46%.

Which ETF is better, SSG or SOXL?

On 10-year performance, SOXL leads with 68.93% vs -62.52% for SSG. On fees, SOXL is cheaper at 0.75% per year. On volatility, SSG has been the lower-risk option at 30.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SSG or SOXL?

Over the 10-year period, SOXL has performed better with a 68.93% return vs -62.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SSG or SOXL?

SOXL is cheaper with a 0.75% expense ratio, compared with 0.95% for SSG.

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

SSG has the higher dividend yield at 14.25%, compared with 0.03% for SOXL.

What is the main difference between SSG and SOXL?

SSG tracks Dow Jones U.S. Semiconductors Index (-200%), while SOXL tracks ICE Semiconductor Index. They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for SSG and 0.75% for SOXL.

Which has better risk-adjusted returns?

SOXL currently has the higher Sharpe Ratio (11.72 vs -1.21), 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.