UBR vs. SOXL
UBR (ProShares Ultra MSCI Brazil) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both Leveraged Equities funds - UBR tracks the MSCI Brazil Index (200%) while SOXL tracks the ICE Semiconductor Index. Both are passively managed. Over the past 10 years, UBR returned -2.60%/yr vs 64.56%/yr for SOXL. At a 0.39 correlation, their price movements are largely independent. UBR charges 0.95%/yr vs 0.75%/yr for SOXL.
Performance
UBR vs. SOXL - Performance Comparison
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Returns By Period
In the year-to-date period, UBR achieves a 10.18% return, which is significantly lower than SOXL's 450.61% return. Over the past 10 years, UBR has underperformed SOXL with an annualized return of -2.60%, while SOXL has yielded a comparatively higher 64.56% annualized return.
UBR
- 1D
- -1.03%
- 1M
- -11.39%
- YTD
- 10.18%
- 6M
- 11.72%
- 1Y
- 46.13%
- 3Y*
- 1.85%
- 5Y*
- -6.46%
- 10Y*
- -2.60%
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%
UBR vs. SOXL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UBR ProShares Ultra MSCI Brazil | 10.18% | 96.11% | -57.05% | 49.98% | 5.60% | -39.03% | -60.67% | 44.19% | -19.11% | 35.36% |
SOXL Direxion Daily Semiconductor Bull 3X ETF | 450.61% | 54.91% | -12.31% | 226.98% | -85.66% | 118.84% | 70.04% | 231.83% | -39.07% | 141.71% |
Correlation
The correlation between UBR and SOXL is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.32 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.30 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.35 |
Correlation (All Time) Calculated using the full available price history since May 7, 2010 | 0.39 |
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Return for Risk
UBR vs. SOXL — Risk / Return Rank
UBR
SOXL
UBR vs. SOXL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra MSCI Brazil (UBR) 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.
| UBR | SOXL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -7.52 | ||
| Sortino ratioReturn per unit of downside risk | -2.58 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.58 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | 1.30 | 22.69 | -21.39 |
| Martin ratioReturn relative to average drawdown | 3.56 | 72.83 | -69.27 |
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Drawdowns
UBR vs. SOXL - Drawdown Comparison
The maximum UBR drawdown since its inception was -97.15%, which is greater than SOXL's maximum drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for UBR and SOXL.
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Drawdown Indicators
| UBR | SOXL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -97.15% | -90.46% | -6.69% |
Max Drawdown (1Y)Largest decline over 1 year | -35.75% | -43.47% | +7.72% |
Max Drawdown (3Y)Largest decline over 3 years | -58.11% | -87.88% | +29.77% |
Max Drawdown (5Y)Largest decline over 5 years | -65.81% | -90.46% | +24.65% |
Max Drawdown (10Y)Largest decline over 10 years | -87.57% | -90.46% | +2.89% |
Current DrawdownCurrent decline from peak | -93.02% | -23.06% | -69.96% |
Average DrawdownAverage peak-to-trough decline | -77.93% | -34.95% | -42.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.00% | 13.52% | -0.52% |
Volatility
UBR vs. SOXL - Volatility Comparison
The current volatility for ProShares Ultra MSCI Brazil (UBR) is 11.56%, while Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a volatility of 68.39%. This indicates that UBR 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
| UBR | SOXL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.56% | 68.39% | -56.83% |
Volatility (6M)Calculated over the trailing 6-month period | 39.42% | 99.84% | -60.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 50.06% | 116.79% | -66.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 55.72% | 110.35% | -54.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 66.47% | 100.62% | -34.15% |
UBR vs. SOXL - Expense Ratio Comparison
UBR has a 0.95% expense ratio, which is higher than SOXL's 0.75% expense ratio.
Dividends
UBR vs. SOXL - Dividend Comparison
UBR's dividend yield for the trailing twelve months is around 1.90%, 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% |
UBR ProShares Ultra MSCI Brazil | 1.90% | 2.05% | 8.09% | 1.15% | 0.00% | 0.00% | 0.00% | 0.53% | 0.13% | 0.00% | 0.00% |
Frequently Asked Questions
UBR and SOXL have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXL has higher volatility (68.39%) compared to UBR (11.56%). In terms of maximum drawdown, UBR dropped -97.15% vs SOXL's -90.46%.
On 10-year performance, SOXL leads with 64.56% vs -2.60% for UBR. On fees, SOXL is cheaper at 0.75% per year. On volatility, UBR has been the lower-risk option at 11.56%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SOXL has performed better with a 64.56% return vs -2.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SOXL is cheaper with a 0.75% expense ratio, compared with 0.95% for UBR.
UBR has the higher dividend yield at 1.90%, compared with 0.03% for SOXL.
UBR tracks MSCI Brazil Index (200%), while SOXL tracks ICE Semiconductor Index. They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for UBR and 0.75% for SOXL.
SOXL currently has the higher Sharpe Ratio (8.45 vs 0.93), 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.
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