TQQQ vs. SOXL.L

Last updated Jun 5, 2026

TQQQ (ProShares UltraPro QQQ) and SOXL.L (Leverage Shares 4x Long Semiconductors ETP Securities) are both Leveraged Equities funds - TQQQ tracks the NASDAQ-100 Index (300%) while SOXL.L tracks the NYSE Semiconductor Index. Both are passively managed. Over the past year, TQQQ returned 132.34% vs 2188.86% for SOXL.L. A 0.59 correlation means they provide meaningful diversification when combined. TQQQ charges 0.95%/yr vs 0.75%/yr for SOXL.L.

Performance

TQQQ vs. SOXL.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraPro QQQ (TQQQ) and Leverage Shares 4x Long Semiconductors ETP Securities (SOXL.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TQQQ achieves a 61.91% return, which is significantly lower than SOXL.L's 798.38% return.

TQQQ

• 1D: -1.55%
• 1M: 26.46%
• YTD: 61.91%
• 6M: 54.01%
• 1Y: 132.34%
• 3Y*: 68.49%
• 5Y*: 27.97%
• 10Y*: 44.95%

SOXL.L

• 1D: -9.76%
• 1M: 108.32%
• YTD: 798.38%
• 6M: 722.46%
• 1Y: 2,188.86%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TQQQ vs. SOXL.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TQQQ ProShares UltraPro QQQ	61.91%	34.35%	30.20%
SOXL.L Leverage Shares 4x Long Semiconductors ETP Securities	798.38%	11.41%	-59.99%

Correlation

The correlation between TQQQ and SOXL.L is 0.64, 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	0.64
Correlation (All Time) Calculated using the full available price history since Mar 27, 2024	0.59

The correlation between TQQQ and SOXL.L has been stable across timeframes, ranging from 0.59 to 0.64 - a consistent structural relationship.

Return for Risk

TQQQ vs. SOXL.L — Risk / Return Rank

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

TQQQ

TQQQ Risk / Return Rank: 71
TQQQ Sharpe Ratio Rank: 86
TQQQ Sortino Ratio Rank: 67
TQQQ Omega Ratio Rank: 66
TQQQ Calmar Ratio Rank: 73
TQQQ Martin Ratio Rank: 66

SOXL.L

SOXL.L Risk / Return Rank: 97
SOXL.L Sharpe Ratio Rank: 100
SOXL.L Sortino Ratio Rank: 95
SOXL.L Omega Ratio Rank: 92
SOXL.L Calmar Ratio Rank: 99
SOXL.L 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.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro QQQ (TQQQ) and Leverage Shares 4x Long Semiconductors ETP Securities (SOXL.L). 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.

	TQQQ	SOXL.L	Difference
Sharpe ratio: Return per unit of total volatility	2.80	15.90	-13.10
Sortino ratio: Return per unit of downside risk	3.01	5.07	-2.05
Omega ratio: Gain probability vs. loss probability	1.39	1.62	-0.23
Calmar ratio: Return relative to maximum drawdown	3.60	41.59	-37.99
Martin ratio: Return relative to average drawdown	11.77	125.57	-113.80
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TQQQ vs. SOXL.L - Sharpe Ratio Comparison

The current TQQQ Sharpe Ratio is 2.80, which is lower than the SOXL.L Sharpe Ratio of 15.90. The chart below compares the historical Sharpe Ratios of TQQQ and SOXL.L, 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

	TQQQ	SOXL.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.80	15.90	-13.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.42	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.68	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.74	0.64	+0.09

Drawdowns

TQQQ vs. SOXL.L - Drawdown Comparison

The maximum TQQQ drawdown since its inception was -81.66%, smaller than the maximum SOXL.L drawdown of -95.66%. Use the drawdown chart below to compare losses from any high point for TQQQ and SOXL.L.

Drawdown Indicators

	TQQQ	SOXL.L	Difference
Max Drawdown Largest peak-to-trough decline	-81.66%	-95.66%	+14.00%
Max Drawdown (1Y) Largest decline over 1 year	-36.97%	-51.95%	+14.98%
Max Drawdown (3Y) Largest decline over 3 years	-58.04%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-81.66%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-81.66%	—	—
Current Drawdown Current decline from peak	-2.29%	-9.76%	+7.47%
Average Drawdown Average peak-to-trough decline	-18.52%	-60.63%	+42.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.28%	17.24%	-5.96%

Volatility

TQQQ vs. SOXL.L - Volatility Comparison

The current volatility for ProShares UltraPro QQQ (TQQQ) is 13.35%, while Leverage Shares 4x Long Semiconductors ETP Securities (SOXL.L) has a volatility of 57.30%. This indicates that TQQQ experiences smaller price fluctuations and is considered to be less risky than SOXL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TQQQ	SOXL.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.35%	57.30%	-43.95%
Volatility (6M) Calculated over the trailing 6-month period	36.04%	104.35%	-68.31%
Volatility (1Y) Calculated over the trailing 1-year period	47.60%	136.04%	-88.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	66.50%	137.56%	-71.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	65.95%	137.56%	-71.61%

TQQQ vs. SOXL.L - Expense Ratio Comparison

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

Dividends

TQQQ vs. SOXL.L - Dividend Comparison

TQQQ's dividend yield for the trailing twelve months is around 0.37%, while SOXL.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SOXL.L Leverage Shares 4x Long Semiconductors ETP Securities	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TQQQ ProShares UltraPro QQQ	0.37%	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.L in my portfolio?

TQQQ and SOXL.L have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TQQQ or SOXL.L?

On fees, SOXL.L is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TQQQ or SOXL.L?

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

What is the main difference between TQQQ and SOXL.L?

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