TSLG vs. SOXL

Last updated Jun 24, 2026

TSLG (Leverage Shares 2X Long TSLA Daily ETF) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both Leveraged Equities funds. TSLG is actively managed, while SOXL is passively managed. Over the past year, TSLG returned -12.69% vs 976.09% for SOXL. A 0.52 correlation means they provide meaningful diversification when combined. Both charge a 0.75% expense ratio.

Performance

TSLG vs. SOXL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long TSLA Daily ETF (TSLG) 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, TSLG achieves a -37.23% return, which is significantly lower than SOXL's 450.61% return.

TSLG

• 1D: -11.63%
• 1M: -22.10%
• YTD: -37.23%
• 6M: -46.41%
• 1Y: -12.69%
• 3Y*: —
• 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)

TSLG vs. SOXL - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TSLG Leverage Shares 2X Long TSLA Daily ETF	-37.23%	-26.70%	-14.82%
SOXL Direxion Daily Semiconductor Bull 3X ETF	450.61%	54.91%	-3.77%

Correlation

The correlation between TSLG and SOXL is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (All Time) Calculated using the full available price history since Dec 13, 2024	0.52

The correlation between TSLG and SOXL has been stable across timeframes, ranging from 0.48 to 0.52 - a consistent structural relationship.

Return for Risk

TSLG vs. SOXL — Risk / Return Rank

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

TSLG

TSLG Risk / Return Rank: 8
TSLG Sharpe Ratio Rank: 7
TSLG Sortino Ratio Rank: 11
TSLG Omega Ratio Rank: 10
TSLG Calmar Ratio Rank: 7
TSLG Martin Ratio Rank: 7

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.

TSLG vs. SOXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long TSLA Daily ETF (TSLG) 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.

	TSLG	SOXL	Difference
Sharpe ratio: Return per unit of total volatility	-0.15	8.45	-8.59
Sortino ratio: Return per unit of downside risk	0.41	4.03	-3.63
Omega ratio: Gain probability vs. loss probability	1.05	1.58	-0.53
Calmar ratio: Return relative to maximum drawdown	-0.23	22.69	-22.92
Martin ratio: Return relative to average drawdown	-0.47	72.83	-73.30

TSLG vs. SOXL - Sharpe Ratio Comparison

The current TSLG Sharpe Ratio is -0.15, which is lower than the SOXL Sharpe Ratio of 8.45. The chart below compares the historical Sharpe Ratios of TSLG 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

TSLG vs. SOXL - Drawdown Comparison

The maximum TSLG drawdown since its inception was -82.86%, smaller than the maximum SOXL drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for TSLG and SOXL.

Drawdown Indicators

	TSLG	SOXL	Difference
Max Drawdown Largest peak-to-trough decline	-82.86%	-90.46%	+7.60%
Max Drawdown (1Y) Largest decline over 1 year	-54.61%	-43.47%	-11.14%
Max Drawdown (3Y) Largest decline over 3 years	—	-87.88%	—
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	-68.29%	-23.06%	-45.23%
Average Drawdown Average peak-to-trough decline	-58.78%	-34.95%	-23.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	27.68%	13.52%	+14.16%

Volatility

TSLG vs. SOXL - Volatility Comparison

The current volatility for Leverage Shares 2X Long TSLA Daily ETF (TSLG) is 29.15%, while Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a volatility of 68.39%. This indicates that TSLG 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

	TSLG	SOXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	29.15%	68.39%	-39.24%
Volatility (6M) Calculated over the trailing 6-month period	57.01%	99.84%	-42.83%
Volatility (1Y) Calculated over the trailing 1-year period	89.25%	116.79%	-27.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	115.05%	110.35%	+4.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	115.05%	100.62%	+14.43%

TSLG vs. SOXL - Expense Ratio Comparison

Both TSLG and SOXL have an expense ratio of 0.75%.

Dividends

TSLG vs. SOXL - Dividend Comparison

TSLG's dividend yield for the trailing twelve months is around 10.43%, 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%
TSLG Leverage Shares 2X Long TSLA Daily ETF	10.43%	6.55%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TSLG and SOXL in my portfolio?

TSLG and SOXL have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TSLG or SOXL?

SOXL has higher volatility (68.39%) compared to TSLG (29.15%). In terms of maximum drawdown, TSLG dropped -82.86% vs SOXL's -90.46%.

Which ETF is better, TSLG or SOXL?

On 1-year performance, SOXL leads with 976.09% vs -12.69% for TSLG. Both ETFs have the same 0.75% expense ratio. On volatility, TSLG has been the lower-risk option at 29.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSLG or SOXL?

Over the 1-year period, SOXL has performed better with a 976.09% return vs -12.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSLG or SOXL?

TSLG and SOXL have the same expense ratio: 0.75% per year.

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

TSLG has the higher dividend yield at 10.43%, compared with 0.03% for SOXL.

What is the main difference between TSLG and SOXL?

They also come from different issuers: Leverage Shares and Direxion.

Which has better risk-adjusted returns?

SOXL currently has the higher Sharpe Ratio (8.45 vs -0.15), 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.