TSL vs. SOXL

Last updated Jun 24, 2026

TSL (GraniteShares 1.25x Long Tsla Daily ETF) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both Leveraged Equities funds. TSL is actively managed, while SOXL is passively managed. Over the past 3 years, TSL returned 6.89%/yr vs 120.84%/yr for SOXL. At a 0.49 correlation, their price movements are largely independent. TSL charges 1.15%/yr vs 0.75%/yr for SOXL.

Performance

TSL vs. SOXL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 1.25x Long Tsla Daily ETF (TSL) 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, TSL achieves a -20.75% return, which is significantly lower than SOXL's 450.61% return.

TSL

• 1D: -7.14%
• 1M: -13.27%
• YTD: -20.75%
• 6M: -28.13%
• 1Y: 4.88%
• 3Y*: 6.89%
• 5Y*: —
• 10Y*: —

SOXL

• 1D: -23.06%
• 1M: 21.44%
• YTD: 450.61%
• 6M: 429.57%
• 1Y: 976.09%
• 3Y*: 120.84%
• 5Y*: 42.16%
• 10Y*: 64.56%

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

TSL vs. SOXL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
TSL GraniteShares 1.25x Long Tsla Daily ETF	-20.75%	3.49%	64.12%	113.79%	-67.61%
SOXL Direxion Daily Semiconductor Bull 3X ETF	450.61%	54.91%	-12.31%	226.98%	-52.60%

Correlation

The correlation between TSL and SOXL is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.48
Correlation (All Time) Calculated using the full available price history since Aug 9, 2022	0.49

TSL vs. SOXL - Sectors Allocation Comparison

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

Return for Risk

TSL vs. SOXL — Risk / Return Rank

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

TSL

TSL Risk / Return Rank: 11
TSL Sharpe Ratio Rank: 10
TSL Sortino Ratio Rank: 12
TSL Omega Ratio Rank: 12
TSL Calmar Ratio Rank: 10
TSL Martin Ratio Rank: 10

SOXL

SOXL Risk / Return Rank: 96
SOXL Sharpe Ratio Rank: 99
SOXL Sortino Ratio Rank: 90
SOXL Omega Ratio Rank: 92
SOXL Calmar Ratio Rank: 99
SOXL Martin Ratio Rank: 98

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.

TSL vs. SOXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 1.25x Long Tsla Daily ETF (TSL) 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.

	TSL	SOXL	Difference
Sharpe ratio: Return per unit of total volatility	0.09	8.45	-8.36
Sortino ratio: Return per unit of downside risk	0.52	4.03	-3.52
Omega ratio: Gain probability vs. loss probability	1.06	1.58	-0.52
Calmar ratio: Return relative to maximum drawdown	0.13	22.69	-22.56
Martin ratio: Return relative to average drawdown	0.29	72.83	-72.54

TSL vs. SOXL - Sharpe Ratio Comparison

The current TSL Sharpe Ratio is 0.09, which is lower than the SOXL Sharpe Ratio of 8.45. The chart below compares the historical Sharpe Ratios of TSL 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

TSL vs. SOXL - Drawdown Comparison

The maximum TSL drawdown since its inception was -74.52%, smaller than the maximum SOXL drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for TSL and SOXL.

Drawdown Indicators

	TSL	SOXL	Difference
Max Drawdown Largest peak-to-trough decline	-74.52%	-90.46%	+15.94%
Max Drawdown (1Y) Largest decline over 1 year	-36.98%	-43.47%	+6.49%
Max Drawdown (3Y) Largest decline over 3 years	-63.30%	-87.88%	+24.58%
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	-34.31%	-23.06%	-11.25%
Average Drawdown Average peak-to-trough decline	-38.56%	-34.95%	-3.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.12%	13.52%	+3.60%

Volatility

TSL vs. SOXL - Volatility Comparison

The current volatility for GraniteShares 1.25x Long Tsla Daily ETF (TSL) is 17.76%, while Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a volatility of 68.39%. This indicates that TSL 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

	TSL	SOXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.76%	68.39%	-50.63%
Volatility (6M) Calculated over the trailing 6-month period	35.40%	99.84%	-64.44%
Volatility (1Y) Calculated over the trailing 1-year period	55.77%	116.79%	-61.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	73.10%	110.35%	-37.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	73.10%	100.62%	-27.52%

TSL vs. SOXL - Expense Ratio Comparison

TSL has a 1.15% expense ratio, which is higher than SOXL's 0.75% expense ratio.

Dividends

TSL vs. SOXL - Dividend Comparison

TSL has not paid dividends to shareholders, while SOXL's dividend yield for the trailing twelve months is around 0.03%.

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%
TSL GraniteShares 1.25x Long Tsla Daily ETF	0.00%	0.00%	0.00%	60.47%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TSL and SOXL in my portfolio?

TSL and SOXL have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TSL or SOXL?

SOXL has higher volatility (68.39%) compared to TSL (17.76%). In terms of maximum drawdown, TSL dropped -74.52% vs SOXL's -90.46%.

Which ETF is better, TSL or SOXL?

On 3-year performance, SOXL leads with 120.84% vs 6.89% for TSL. On fees, SOXL is cheaper at 0.75% per year. On volatility, TSL has been the lower-risk option at 17.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSL or SOXL?

Over the 3-year period, SOXL has performed better with a 120.84% return vs 6.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSL or SOXL?

SOXL is cheaper with a 0.75% expense ratio, compared with 1.15% for TSL.

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

SOXL has the higher dividend yield at 0.03%, compared with 0.00% for TSL.

What is the main difference between TSL and SOXL?

They also come from different issuers: GraniteShares and Direxion. Their fees differ too: 1.15% for TSL and 0.75% for SOXL.

Which has better risk-adjusted returns?

SOXL currently has the higher Sharpe Ratio (8.45 vs 0.09), 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.