USAX vs. SOXL

Last updated Jun 6, 2026

USAX (Tradr 2X Long USAR Daily ETF) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both Leveraged Equities funds - USAX tracks the USA Rare Earth, Inc. (USAR) while SOXL tracks the ICE Semiconductor Index. Both are passively managed. At a 0.34 correlation, their price movements are largely independent. USAX charges 1.49%/yr vs 0.75%/yr for SOXL.

Performance

USAX vs. SOXL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tradr 2X Long USAR Daily ETF (USAX) and Direxion Daily Semiconductor Bull 3X ETF (SOXL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

USAX

• 1D: -35.36%
• 1M: -46.82%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SOXL

• 1D: -30.51%
• 1M: 10.06%
• YTD: 334.31%
• 6M: 292.56%
• 1Y: 873.79%
• 3Y*: 104.66%
• 5Y*: 36.47%
• 10Y*: 58.09%

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

USAX vs. SOXL - Yearly Performance Comparison

	2026 (YTD)
USAX Tradr 2X Long USAR Daily ETF	-0.64%
SOXL Direxion Daily Semiconductor Bull 3X ETF	225.56%

Correlation

The correlation between USAX and SOXL is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 14, 2026	0.34

Return for Risk

USAX vs. SOXL — Risk / Return Rank

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

SOXL

SOXL Risk / Return Rank: 95
SOXL Sharpe Ratio Rank: 99
SOXL Sortino Ratio Rank: 90
SOXL Omega Ratio Rank: 91
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.

USAX vs. SOXL - Risk-Adjusted Trends Comparison

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

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	USAX	SOXL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	8.26	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.34	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.59	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.01	0.47	-0.48

Drawdowns

USAX vs. SOXL - Drawdown Comparison

The maximum USAX drawdown since its inception was -77.92%, smaller than the maximum SOXL drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for USAX and SOXL.

Drawdown Indicators

	USAX	SOXL	Difference
Max Drawdown Largest peak-to-trough decline	-77.92%	-90.46%	+12.54%
Max Drawdown (1Y) Largest decline over 1 year	—	-43.47%	—
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	-58.50%	-34.93%	-23.57%
Average Drawdown Average peak-to-trough decline	-45.87%	-35.01%	-10.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	12.85%	—

Volatility

Volatility by Period

	USAX	SOXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	55.19%	—
Volatility (6M) Calculated over the trailing 6-month period	—	89.77%	—
Volatility (1Y) Calculated over the trailing 1-year period	229.17%	106.94%	+122.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	229.17%	108.10%	+121.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	229.17%	99.53%	+129.64%

USAX vs. SOXL - Expense Ratio Comparison

USAX has a 1.49% expense ratio, which is higher than SOXL's 0.75% expense ratio.

Dividends

USAX vs. SOXL - Dividend Comparison

USAX has not paid dividends to shareholders, while SOXL's dividend yield for the trailing twelve months is around 0.04%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
SOXL Direxion Daily Semiconductor Bull 3X ETF	0.04%	0.34%	1.18%	0.51%	1.07%	0.04%	0.05%	0.38%	1.30%	0.09%	4.84%
USAX Tradr 2X Long USAR 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 USAX and SOXL in my portfolio?

USAX and SOXL have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, USAX or SOXL?

On fees, SOXL is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, USAX or SOXL?

SOXL is cheaper with a 0.75% expense ratio, compared with 1.49% for USAX.

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

SOXL has the higher dividend yield at 0.04%, compared with 0.00% for USAX.

What is the main difference between USAX and SOXL?

USAX tracks USA Rare Earth, Inc. (USAR), while SOXL tracks ICE Semiconductor Index. They also come from different issuers: Tradr and Direxion. Their fees differ too: 1.49% for USAX and 0.75% for SOXL.