TSMX vs. SOXL
Compare and contrast key facts about Direxion Daily TSM Bull 2X Shares (TSMX) and Direxion Daily Semiconductor Bull 3x Shares (SOXL).
TSMX and SOXL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TSMX is an actively managed fund by Direxion. It was launched on Oct 3, 2024. SOXL is a passively managed fund by Direxion that tracks the performance of the PHLX Semiconductor Index (300%). It was launched on Mar 11, 2010.
Performance
TSMX vs. SOXL - Performance Comparison
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TSMX vs. SOXL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
TSMX Direxion Daily TSM Bull 2X Shares | 16.15% | 81.48% | 14.76% |
SOXL Direxion Daily Semiconductor Bull 3x Shares | 13.99% | 54.91% | -22.22% |
Returns By Period
In the year-to-date period, TSMX achieves a 16.15% return, which is significantly higher than SOXL's 13.99% return.
TSMX
- 1D
- 13.81%
- 1M
- -20.58%
- YTD
- 16.15%
- 6M
- 30.27%
- 1Y
- 227.40%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SOXL
- 1D
- 17.95%
- 1M
- -23.67%
- YTD
- 13.99%
- 6M
- 37.51%
- 1Y
- 201.41%
- 3Y*
- 38.75%
- 5Y*
- 3.09%
- 10Y*
- 39.88%
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TSMX vs. SOXL - Expense Ratio Comparison
TSMX has a 1.05% expense ratio, which is higher than SOXL's 0.99% expense ratio.
Return for Risk
TSMX vs. SOXL — Risk / Return Rank
TSMX
SOXL
TSMX vs. SOXL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily TSM Bull 2X Shares (TSMX) and Direxion Daily Semiconductor Bull 3x Shares (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.
| TSMX | SOXL | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.95 | 1.70 | +1.25 |
Sortino ratioReturn per unit of downside risk | 3.08 | 2.34 | +0.74 |
Omega ratioGain probability vs. loss probability | 1.39 | 1.34 | +0.05 |
Calmar ratioReturn relative to maximum drawdown | 6.59 | 4.06 | +2.53 |
Martin ratioReturn relative to average drawdown | 20.50 | 12.39 | +8.12 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TSMX | SOXL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.95 | 1.70 | +1.25 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.03 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.41 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.01 | 0.35 | +0.66 |
Correlation
The correlation between TSMX and SOXL is 0.74, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
TSMX vs. SOXL - Dividend Comparison
TSMX's dividend yield for the trailing twelve months is around 7.11%, more than SOXL's 0.16% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
TSMX Direxion Daily TSM Bull 2X Shares | 7.11% | 8.01% | 0.53% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SOXL Direxion Daily Semiconductor Bull 3x Shares | 0.16% | 0.34% | 1.18% | 0.51% | 1.07% | 0.04% | 0.05% | 0.38% | 1.30% | 0.09% | 4.84% |
Drawdowns
TSMX vs. SOXL - Drawdown Comparison
The maximum TSMX drawdown since its inception was -63.80%, smaller than the maximum SOXL drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for TSMX and SOXL.
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Drawdown Indicators
| TSMX | SOXL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.80% | -90.46% | +26.66% |
Max Drawdown (1Y)Largest decline over 1 year | -34.93% | -49.26% | +14.33% |
Max Drawdown (5Y)Largest decline over 5 years | — | -90.46% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -90.46% | — |
Current DrawdownCurrent decline from peak | -25.94% | -33.33% | +7.39% |
Average DrawdownAverage peak-to-trough decline | -16.74% | -35.34% | +18.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.22% | 16.14% | -4.92% |
Volatility
TSMX vs. SOXL - Volatility Comparison
The current volatility for Direxion Daily TSM Bull 2X Shares (TSMX) is 29.06%, while Direxion Daily Semiconductor Bull 3x Shares (SOXL) has a volatility of 40.35%. This indicates that TSMX 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.
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Volatility by Period
| TSMX | SOXL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 29.06% | 40.35% | -11.29% |
Volatility (6M)Calculated over the trailing 6-month period | 54.61% | 79.51% | -24.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 77.49% | 119.21% | -41.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 81.26% | 105.43% | -24.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 81.26% | 97.70% | -16.44% |