TSLT vs. SOXL

Last updated Aug 2, 2026

TSLT (T-Rex 2X Long Tesla Daily Target ETF) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both Leveraged Equities funds - TSLT tracks the Tesla, Inc. (200%) while SOXL tracks the NYSE Semiconductor Index. Both are passively managed. Over the past year, TSLT returned -27.14% vs 376.55% for SOXL. Their 0.49 correlation means their historical movements had little consistent relationship. TSLT charges 1.05%/yr vs 0.75%/yr for SOXL.

Performance

TSLT vs. SOXL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T-Rex 2X Long Tesla Daily Target ETF (TSLT) 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, TSLT achieves a -61.81% return, which is significantly lower than SOXL's 172.95% return.

TSLT

• 1D: 1.29%
• 1M: -40.70%
• 6M: -57.20%
• YTD: -61.81%
• 1Y: -27.14%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -23.82%

SOXL

• 1D: 0.00%
• 1M: -36.78%
• 6M: 85.66%
• YTD: 172.95%
• 1Y: 376.55%
• 3Y*: 60.01%
• 5Y*: 21.65%
• 10Y*: 48.63%
• ALL TIME*: 38.01%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SOXL Direxion Daily Semiconductor Bull 3X ETF	$10.60B	$10.77B	$11.72B
TSLT T-Rex 2X Long Tesla Daily Target ETF	$37.83M	$41.41M	$54.11M

TSLT vs. SOXL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
TSLT T-Rex 2X Long Tesla Daily Target ETF	-61.81%	-29.49%	54.17%	13.02%
SOXL Direxion Daily Semiconductor Bull 3X ETF	172.95%	54.91%	-12.31%	72.16%

Correlation

The correlation between TSLT and SOXL is 0.53, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.53
Correlation (All Time) Calculated using the full available price history since Oct 19, 2023	0.49

The correlation between TSLT and SOXL has been stable across timeframes, ranging from 0.49 to 0.53 - a consistent structural relationship.

TSLT vs. SOXL - Sectors Allocation Comparison

Sectors	TSLT	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

TSLT vs. SOXL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TSLT

TSLT Risk / Return Rank: 8
TSLT Sharpe Ratio Rank: 7
TSLT Sortino Ratio Rank: 11
TSLT Omega Ratio Rank: 10
TSLT Calmar Ratio Rank: 6
TSLT Martin Ratio Rank: 5

SOXL

SOXL Risk / Return Rank: 90
SOXL Sharpe Ratio Rank: 95
SOXL Sortino Ratio Rank: 83
SOXL Omega Ratio Rank: 85
SOXL Calmar Ratio Rank: 95
SOXL Martin Ratio Rank: 94

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

TSLT vs. SOXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T-Rex 2X Long Tesla Daily Target ETF (TSLT) 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.

	TSLT	SOXL	Difference
Sharpe ratio: Return per unit of total volatility	-0.33	2.77	-3.10
Sortino ratio: Return per unit of downside risk	0.12	2.70	-2.58
Omega ratio: Gain probability vs. loss probability	1.01	1.36	-0.35
Calmar ratio: Return relative to maximum drawdown	-0.43	5.22	-5.64
Martin ratio: Return relative to average drawdown	-0.94	18.04	-18.98

TSLT vs. SOXL - Sharpe Ratio Comparison

The current TSLT Sharpe Ratio is -0.33, which is lower than the SOXL Sharpe Ratio of 2.77. The chart below compares the historical Sharpe Ratios of TSLT 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

TSLT vs. SOXL - Drawdown Comparison

The maximum TSLT drawdown since its inception was -83.16%, smaller than the maximum SOXL drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for TSLT and SOXL.

Drawdown Indicators

	TSLT	SOXL	Difference
Max Drawdown Largest peak-to-trough decline	-83.16%	-90.46%	+7.30%
Max Drawdown (1Y) Largest decline over 1 year	-70.65%	-69.42%	-1.23%
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	-81.45%	-61.86%	-19.59%
Average Drawdown Average peak-to-trough decline	-51.45%	-35.00%	-16.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	32.01%	20.04%	+11.97%

Volatility

TSLT vs. SOXL - Volatility Comparison

The current volatility for T-Rex 2X Long Tesla Daily Target ETF (TSLT) is 43.62%, while Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a volatility of 52.68%. This indicates that TSLT 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

	TSLT	SOXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	43.62%	52.68%	-9.06%
Volatility (6M) Calculated over the trailing 6-month period	70.67%	115.51%	-44.84%
Volatility (1Y) Calculated over the trailing 1-year period	92.45%	130.99%	-38.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	117.71%	113.21%	+4.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	117.71%	102.11%	+15.60%

TSLT vs. SOXL - Expense Ratio Comparison

TSLT has a 1.05% expense ratio, which is higher than SOXL's 0.75% expense ratio.

Dividends

TSLT vs. SOXL - Dividend Comparison

TSLT has not paid dividends to shareholders, while SOXL's dividend yield for the trailing twelve months is around 0.01%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
SOXL Direxion Daily Semiconductor Bull 3X ETF	0.01%	0.34%	1.18%	0.51%	1.07%	0.04%	0.05%	0.38%	1.30%	0.09%	4.84%
TSLT T-Rex 2X Long Tesla Daily Target ETF	0.00%	0.00%	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 TSLT and SOXL in my portfolio?

TSLT and SOXL have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TSLT or SOXL?

SOXL has higher volatility (52.68%) compared to TSLT (43.62%). In terms of maximum drawdown, TSLT dropped -83.16% vs SOXL's -90.46%.

Which ETF is better, TSLT or SOXL?

On 1-year performance, SOXL leads with 376.55% vs -27.14% for TSLT. On fees, SOXL is cheaper at 0.75% per year. On volatility, TSLT has been the lower-risk option at 43.62%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSLT or SOXL?

Over the 1-year period, SOXL has performed better with a 376.55% return vs -27.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSLT or SOXL?

SOXL is cheaper with a 0.75% expense ratio, compared with 1.05% for TSLT.

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

SOXL has the higher dividend yield at 0.01%, compared with 0.00% for TSLT.

What is the main difference between TSLT and SOXL?

TSLT tracks Tesla, Inc. (200%), while SOXL tracks NYSE Semiconductor Index. They also come from different issuers: T-Rex and Direxion. Their fees differ too: 1.05% for TSLT and 0.75% for SOXL.

Which has better risk-adjusted returns?

SOXL currently has the higher Sharpe Ratio (2.77 vs -0.33), 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.