SZK vs. SOXL
SZK (ProShares UltraShort Consumer Goods) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both Leveraged Equities funds - SZK tracks the Dow Jones U.S. Consumer Goods Index (-200%) while SOXL tracks the ICE Semiconductor Index. Both are passively managed. Over the past 10 years, SZK returned -16.93%/yr vs 68.12%/yr for SOXL. At a correlation of -0.41, they often move in opposite directions. SZK charges 0.95%/yr vs 0.75%/yr for SOXL.
Performance
SZK vs. SOXL - Performance Comparison
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Returns By Period
In the year-to-date period, SZK achieves a -15.40% return, which is significantly lower than SOXL's 501.02% return. Over the past 10 years, SZK has underperformed SOXL with an annualized return of -16.93%, while SOXL has yielded a comparatively higher 68.12% annualized return.
SZK
- 1D
- 1.08%
- 1M
- -2.19%
- YTD
- -15.40%
- 6M
- -13.95%
- 1Y
- -7.92%
- 3Y*
- -5.88%
- 5Y*
- -4.06%
- 10Y*
- -16.93%
SOXL
- 1D
- 10.04%
- 1M
- 11.88%
- YTD
- 501.02%
- 6M
- 471.39%
- 1Y
- 928.01%
- 3Y*
- 126.70%
- 5Y*
- 44.97%
- 10Y*
- 68.12%
SZK vs. SOXL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SZK ProShares UltraShort Consumer Goods | -15.40% | 3.37% | -11.33% | -3.10% | 47.20% | -37.78% | -58.24% | -39.43% | 33.62% | -27.22% |
SOXL Direxion Daily Semiconductor Bull 3X ETF | 501.02% | 54.91% | -12.31% | 226.98% | -85.66% | 118.84% | 70.04% | 231.83% | -39.07% | 141.71% |
Correlation
The correlation between SZK and SOXL is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.30 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.37 |
Correlation (All Time) Calculated using the full available price history since Mar 11, 2010 | -0.41 |
The correlation between SZK and SOXL shifts across timeframes, from -0.41 (all time) to 0.19 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SZK vs. SOXL — Risk / Return Rank
SZK
SOXL
SZK vs. SOXL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Consumer Goods (SZK) 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.
| SZK | SOXL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -8.34 | ||
| Sortino ratioReturn per unit of downside risk | -4.23 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.57 | -0.60 |
| Calmar ratioReturn relative to maximum drawdown | -0.27 | 21.57 | -21.84 |
| Martin ratioReturn relative to average drawdown | -0.58 | 68.63 | -69.21 |
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Drawdowns
SZK vs. SOXL - Drawdown Comparison
The maximum SZK drawdown since its inception was -99.40%, which is greater than SOXL's maximum drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for SZK and SOXL.
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Drawdown Indicators
| SZK | SOXL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.40% | -90.46% | -8.94% |
Max Drawdown (1Y)Largest decline over 1 year | -29.26% | -43.47% | +14.21% |
Max Drawdown (3Y)Largest decline over 3 years | -41.81% | -87.88% | +46.07% |
Max Drawdown (5Y)Largest decline over 5 years | -41.81% | -90.46% | +48.65% |
Max Drawdown (10Y)Largest decline over 10 years | -86.78% | -90.46% | +3.68% |
Current DrawdownCurrent decline from peak | -99.28% | -16.01% | -83.27% |
Average DrawdownAverage peak-to-trough decline | -82.03% | -34.94% | -47.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.72% | 13.64% | +0.08% |
Volatility
SZK vs. SOXL - Volatility Comparison
The current volatility for ProShares UltraShort Consumer Goods (SZK) is 9.89%, while Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a volatility of 66.73%. This indicates that SZK 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
| SZK | SOXL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.89% | 66.73% | -56.84% |
Volatility (6M)Calculated over the trailing 6-month period | 21.21% | 99.97% | -78.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.99% | 116.70% | -90.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.58% | 110.41% | -78.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.63% | 100.63% | -67.00% |
SZK vs. SOXL - Expense Ratio Comparison
SZK has a 0.95% expense ratio, which is higher than SOXL's 0.75% expense ratio.
Dividends
SZK vs. SOXL - Dividend Comparison
SZK's dividend yield for the trailing twelve months is around 2.72%, while SOXL has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
SOXL Direxion Daily Semiconductor Bull 3X ETF | 0.00% | 0.34% | 1.18% | 0.51% | 1.07% | 0.04% | 0.05% | 0.38% | 1.30% | 0.09% | 4.84% |
SZK ProShares UltraShort Consumer Goods | 2.72% | 2.90% | 5.70% | 4.03% | 0.56% | 0.00% | 0.19% | 1.70% | 0.50% | 0.00% | 0.00% |
Frequently Asked Questions
SZK and SOXL have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXL has higher volatility (66.73%) compared to SZK (9.89%). In terms of maximum drawdown, SZK dropped -99.40% vs SOXL's -90.46%.
On 10-year performance, SOXL leads with 68.12% vs -16.93% for SZK. On fees, SOXL is cheaper at 0.75% per year. On volatility, SZK has been the lower-risk option at 9.89%. 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 68.12% return vs -16.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SOXL is cheaper with a 0.75% expense ratio, compared with 0.95% for SZK.
SZK has the higher dividend yield at 2.72%, compared with 0.00% for SOXL.
SZK tracks Dow Jones U.S. Consumer Goods Index (-200%), while SOXL tracks ICE Semiconductor Index. They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for SZK and 0.75% for SOXL.
SOXL currently has the higher Sharpe Ratio (8.03 vs -0.31), 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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