TQQQ vs. SOXL

Last updated Jun 19, 2026

TQQQ (ProShares UltraPro QQQ) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both Leveraged Equities funds - TQQQ tracks the NASDAQ-100 Index (300%) while SOXL tracks the ICE Semiconductor Index. Both are passively managed. Over the past 10 years, TQQQ returned 45.79%/yr vs 65.95%/yr for SOXL. Their correlation of 0.83 suggests significant overlap in exposure. TQQQ charges 0.95%/yr vs 0.75%/yr for SOXL.

Performance

TQQQ vs. SOXL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraPro QQQ (TQQQ) 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, TQQQ achieves a 57.45% return, which is significantly lower than SOXL's 564.50% return. Over the past 10 years, TQQQ has underperformed SOXL with an annualized return of 45.79%, while SOXL has yielded a comparatively higher 65.95% annualized return.

TQQQ

• 1D: 6.87%
• 1M: 13.63%
• YTD: 57.45%
• 6M: 61.40%
• 1Y: 127.19%
• 3Y*: 61.43%
• 5Y*: 25.74%
• 10Y*: 45.79%

SOXL

• 1D: 19.43%
• 1M: 83.88%
• YTD: 564.50%
• 6M: 623.92%
• 1Y: 1,196.88%
• 3Y*: 124.34%
• 5Y*: 50.47%
• 10Y*: 65.95%

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

TQQQ vs. SOXL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TQQQ ProShares UltraPro QQQ	57.45%	34.35%	58.27%	198.04%	-79.09%	82.98%	110.05%	133.84%	-19.79%	118.06%
SOXL Direxion Daily Semiconductor Bull 3X ETF	564.50%	54.91%	-12.31%	226.98%	-85.66%	118.84%	70.04%	231.83%	-39.07%	141.71%

Correlation

The correlation between TQQQ and SOXL is 0.80, 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	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (10Y) Calculated over the trailing 10-year period	0.84
Correlation (All Time) Calculated using the full available price history since Mar 11, 2010	0.83

The correlation between TQQQ and SOXL has been stable across timeframes, ranging from 0.80 to 0.86 - a consistent structural relationship.

TQQQ vs. SOXL - Sectors Allocation Comparison

Sectors	TQQQ	SOXL
Technology	53.8%	100.0%
Communication Services	15.8%	-
Consumer Cyclical	12.3%	-
Consumer Defensive	7.7%	-
Healthcare	4.2%	-
Industrials	2.8%	-
Utilities	1.4%	-
Basic Materials	1.1%	-
Energy	0.6%	-
Financial Services	0.2%	-
Real Estate	0.1%	-

Return for Risk

TQQQ vs. SOXL — Risk / Return Rank

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

TQQQ

TQQQ Risk / Return Rank: 69
TQQQ Sharpe Ratio Rank: 83
TQQQ Sortino Ratio Rank: 62
TQQQ Omega Ratio Rank: 64
TQQQ Calmar Ratio Rank: 73
TQQQ Martin Ratio Rank: 65

SOXL

SOXL Risk / Return Rank: 97
SOXL Sharpe Ratio Rank: 99
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.

TQQQ vs. SOXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro QQQ (TQQQ) 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.

	TQQQ	SOXL	Difference
Sharpe ratio: Return per unit of total volatility	2.44	10.61	-8.17
Sortino ratio: Return per unit of downside risk	2.69	4.44	-1.75
Omega ratio: Gain probability vs. loss probability	1.36	1.63	-0.27
Calmar ratio: Return relative to maximum drawdown	3.46	27.84	-24.38
Martin ratio: Return relative to average drawdown	11.05	89.88	-78.83

TQQQ vs. SOXL - Sharpe Ratio Comparison

The current TQQQ Sharpe Ratio is 2.44, which is lower than the SOXL Sharpe Ratio of 10.61. The chart below compares the historical Sharpe Ratios of TQQQ 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

TQQQ vs. SOXL - Drawdown Comparison

The maximum TQQQ drawdown since its inception was -81.66%, smaller than the maximum SOXL drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for TQQQ and SOXL.

Drawdown Indicators

	TQQQ	SOXL	Difference
Max Drawdown Largest peak-to-trough decline	-81.66%	-90.46%	+8.80%
Max Drawdown (1Y) Largest decline over 1 year	-36.97%	-43.47%	+6.50%
Max Drawdown (3Y) Largest decline over 3 years	-58.04%	-87.88%	+29.84%
Max Drawdown (5Y) Largest decline over 5 years	-81.66%	-90.46%	+8.80%
Max Drawdown (10Y) Largest decline over 10 years	-81.66%	-90.46%	+8.80%
Current Drawdown Current decline from peak	-4.99%	-0.45%	-4.54%
Average Drawdown Average peak-to-trough decline	-18.50%	-34.96%	+16.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.55%	13.44%	-1.89%

Volatility

TQQQ vs. SOXL - Volatility Comparison

The current volatility for ProShares UltraPro QQQ (TQQQ) is 25.44%, while Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a volatility of 62.74%. This indicates that TQQQ 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

	TQQQ	SOXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.44%	62.74%	-37.30%
Volatility (6M) Calculated over the trailing 6-month period	42.61%	96.77%	-54.16%
Volatility (1Y) Calculated over the trailing 1-year period	52.43%	114.08%	-61.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	67.25%	109.76%	-42.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	66.33%	100.44%	-34.11%

TQQQ vs. SOXL - Expense Ratio Comparison

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

Dividends

TQQQ vs. SOXL - Dividend Comparison

TQQQ's dividend yield for the trailing twelve months is around 0.38%, more than SOXL's 0.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%
TQQQ ProShares UltraPro QQQ	0.38%	0.65%	1.27%	1.26%	0.57%	0.00%	0.00%	0.06%	0.11%	0.00%	0.00%	0.01%

Frequently Asked Questions

Can I hold both TQQQ and SOXL in my portfolio?

TQQQ and SOXL have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TQQQ or SOXL?

SOXL has higher volatility (62.74%) compared to TQQQ (25.44%). In terms of maximum drawdown, TQQQ dropped -81.66% vs SOXL's -90.46%.

Which ETF is better, TQQQ or SOXL?

On 10-year performance, SOXL leads with 65.95% vs 45.79% for TQQQ. On fees, SOXL is cheaper at 0.75% per year. On volatility, TQQQ has been the lower-risk option at 25.44%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TQQQ or SOXL?

Over the 10-year period, SOXL has performed better with a 65.95% return vs 45.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TQQQ or SOXL?

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

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

TQQQ has the higher dividend yield at 0.38%, compared with 0.03% for SOXL.

What is the main difference between TQQQ and SOXL?

TQQQ tracks NASDAQ-100 Index (300%), while SOXL tracks ICE Semiconductor Index. They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for TQQQ and 0.75% for SOXL.

Which has better risk-adjusted returns?

SOXL currently has the higher Sharpe Ratio (10.61 vs 2.44), 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.