UPSX vs. SOXL

Last updated Jul 16, 2026

UPSX (Tradr 2X Long UPST Daily ETF) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both Leveraged Equities funds. UPSX is actively managed, while SOXL is passively managed. Over the past year, UPSX returned -90.97% vs 506.81% for SOXL. At a 0.33 correlation, their price movements are largely independent. UPSX charges 1.30%/yr vs 0.75%/yr for SOXL.

Performance

UPSX vs. SOXL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tradr 2X Long UPST Daily ETF (UPSX) 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, UPSX achieves a -64.14% return, which is significantly lower than SOXL's 293.89% return.

UPSX

• 1D: -1.87%
• 1M: -9.25%
• 6M: -67.34%
• YTD: -64.14%
• 1Y: -90.97%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SOXL

• 1D: -6.29%
• 1M: -39.25%
• 6M: 198.93%
• YTD: 293.89%
• 1Y: 506.81%
• 3Y*: 85.96%
• 5Y*: 35.94%
• 10Y*: 56.10%

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

UPSX vs. SOXL - Yearly Performance Comparison

	2026 (YTD)	2025
UPSX Tradr 2X Long UPST Daily ETF	-64.14%	-61.18%
SOXL Direxion Daily Semiconductor Bull 3X ETF	293.89%	104.93%

Correlation

The correlation between UPSX and SOXL is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (All Time) Calculated using the full available price history since Jun 10, 2025	0.33

Return for Risk

UPSX vs. SOXL — Risk / Return Rank

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

UPSX

UPSX Risk / Return Rank: 3
UPSX Sharpe Ratio Rank: 4
UPSX Sortino Ratio Rank: 2
UPSX Omega Ratio Rank: 2
UPSX Calmar Ratio Rank: 1
UPSX Martin Ratio Rank: 4

SOXL

SOXL Risk / Return Rank: 93
SOXL Sharpe Ratio Rank: 98
SOXL Sortino Ratio Rank: 86
SOXL Omega Ratio Rank: 88
SOXL Calmar Ratio Rank: 98
SOXL Martin Ratio Rank: 97

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.

UPSX vs. SOXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tradr 2X Long UPST Daily ETF (UPSX) 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.

	UPSX	SOXL	Difference
Sharpe ratio: Return per unit of total volatility	-0.66	4.12	-4.78
Sortino ratio: Return per unit of downside risk	-1.32	3.08	-4.41
Omega ratio: Gain probability vs. loss probability	0.85	1.43	-0.58
Calmar ratio: Return relative to maximum drawdown	-0.96	11.35	-12.31
Martin ratio: Return relative to average drawdown	-1.16	32.04	-33.20

UPSX vs. SOXL - Sharpe Ratio Comparison

The current UPSX Sharpe Ratio is -0.66, which is lower than the SOXL Sharpe Ratio of 4.12. The chart below compares the historical Sharpe Ratios of UPSX 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

UPSX vs. SOXL - Drawdown Comparison

The maximum UPSX drawdown since its inception was -95.01%, which is greater than SOXL's maximum drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for UPSX and SOXL.

Drawdown Indicators

	UPSX	SOXL	Difference
Max Drawdown Largest peak-to-trough decline	-95.01%	-90.46%	-4.55%
Max Drawdown (1Y) Largest decline over 1 year	-95.01%	-45.05%	-49.96%
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	-92.94%	-44.96%	-47.98%
Average Drawdown Average peak-to-trough decline	-68.47%	-34.94%	-33.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	78.23%	15.92%	+62.31%

Volatility

UPSX vs. SOXL - Volatility Comparison

The current volatility for Tradr 2X Long UPST Daily ETF (UPSX) is 30.52%, while Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a volatility of 61.91%. This indicates that UPSX 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

	UPSX	SOXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	30.52%	61.91%	-31.39%
Volatility (6M) Calculated over the trailing 6-month period	99.85%	108.49%	-8.64%
Volatility (1Y) Calculated over the trailing 1-year period	138.21%	124.02%	+14.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	138.64%	111.87%	+26.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	138.64%	101.35%	+37.29%

UPSX vs. SOXL - Expense Ratio Comparison

UPSX has a 1.30% expense ratio, which is higher than SOXL's 0.75% expense ratio.

Dividends

UPSX vs. SOXL - Dividend Comparison

UPSX 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%
UPSX Tradr 2X Long UPST Daily 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 UPSX and SOXL in my portfolio?

UPSX and SOXL have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UPSX or SOXL?

SOXL has higher volatility (61.91%) compared to UPSX (30.52%). In terms of maximum drawdown, UPSX dropped -95.01% vs SOXL's -90.46%.

Which ETF is better, UPSX or SOXL?

On 1-year performance, SOXL leads with 506.81% vs -90.97% for UPSX. On fees, SOXL is cheaper at 0.75% per year. On volatility, UPSX has been the lower-risk option at 30.52%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UPSX or SOXL?

Over the 1-year period, SOXL has performed better with a 506.81% return vs -90.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UPSX or SOXL?

SOXL is cheaper with a 0.75% expense ratio, compared with 1.30% for UPSX.

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

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

What is the main difference between UPSX and SOXL?

They also come from different issuers: Tradr and Direxion. Their fees differ too: 1.30% for UPSX and 0.75% for SOXL.

Which has better risk-adjusted returns?

SOXL currently has the higher Sharpe Ratio (4.12 vs -0.66), 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.