XSD vs. SOXL

Last updated Jun 4, 2026

XSD (SPDR S&P Semiconductor ETF) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both exchange-traded funds - XSD is a Semiconductors fund tracking the S&P Semiconductor Select Industry, while SOXL is a Leveraged Equities fund tracking the ICE Semiconductor Index. Both are passively managed. Over the past 10 years, XSD returned 31.10%/yr vs 65.39%/yr for SOXL. Their correlation of 0.94 suggests significant overlap in exposure. XSD charges 0.35%/yr vs 0.75%/yr for SOXL.

Performance

XSD vs. SOXL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Semiconductor ETF (XSD) 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, XSD achieves a 102.14% return, which is significantly lower than SOXL's 567.48% return. Over the past 10 years, XSD has underperformed SOXL with an annualized return of 31.10%, while SOXL has yielded a comparatively higher 65.39% annualized return.

XSD

• 1D: 1.51%
• 1M: 30.91%
• YTD: 102.14%
• 6M: 92.84%
• 1Y: 180.25%
• 3Y*: 46.41%
• 5Y*: 29.69%
• 10Y*: 31.10%

SOXL

• 1D: 5.34%
• 1M: 119.95%
• YTD: 567.48%
• 6M: 502.28%
• 1Y: 1,438.30%
• 3Y*: 135.13%
• 5Y*: 48.72%
• 10Y*: 65.39%

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

XSD vs. SOXL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XSD SPDR S&P Semiconductor ETF	102.14%	29.85%	10.75%	34.87%	-30.92%	42.54%	61.95%	64.66%	-6.35%	25.21%
SOXL Direxion Daily Semiconductor Bull 3X ETF	567.48%	54.91%	-12.31%	226.98%	-85.66%	118.84%	70.04%	231.83%	-39.07%	141.71%

Correlation

The correlation between XSD and SOXL is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Mar 12, 2010	0.94

The correlation between XSD and SOXL has been stable across timeframes, ranging from 0.91 to 0.95 - a consistent structural relationship.

XSD vs. SOXL - Sectors Allocation Comparison

Sectors	XSD	SOXL
Technology	97.8%	100.0%
Energy	2.2%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

XSD vs. SOXL — Risk / Return Rank

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

XSD

XSD Risk / Return Rank: 95
XSD Sharpe Ratio Rank: 97
XSD Sortino Ratio Rank: 94
XSD Omega Ratio Rank: 93
XSD Calmar Ratio Rank: 96
XSD Martin Ratio Rank: 96

SOXL

SOXL Risk / Return Rank: 97
SOXL Sharpe Ratio Rank: 100
SOXL Sortino Ratio Rank: 95
SOXL Omega Ratio Rank: 95
SOXL Calmar Ratio Rank: 99
SOXL Martin Ratio Rank: 99

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.

XSD vs. SOXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Semiconductor ETF (XSD) 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.

	XSD	SOXL	Difference
Sharpe ratio: Return per unit of total volatility	5.00	14.28	-9.28
Sortino ratio: Return per unit of downside risk	5.03	5.17	-0.15
Omega ratio: Gain probability vs. loss probability	1.65	1.72	-0.07
Calmar ratio: Return relative to maximum drawdown	9.75	33.47	-23.72
Martin ratio: Return relative to average drawdown	33.91	114.79	-80.88
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XSD vs. SOXL - Sharpe Ratio Comparison

The current XSD Sharpe Ratio is 5.00, which is lower than the SOXL Sharpe Ratio of 14.28. The chart below compares the historical Sharpe Ratios of XSD 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.

Sharpe Ratios by Period

	XSD	SOXL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.00	14.28	-9.28
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.78	0.46	+0.32
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.89	0.66	+0.23
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.52	-0.08

Drawdowns

XSD vs. SOXL - Drawdown Comparison

The maximum XSD drawdown since its inception was -64.56%, smaller than the maximum SOXL drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for XSD and SOXL.

Drawdown Indicators

	XSD	SOXL	Difference
Max Drawdown Largest peak-to-trough decline	-64.56%	-90.46%	+25.90%
Max Drawdown (1Y) Largest decline over 1 year	-18.61%	-43.47%	+24.86%
Max Drawdown (3Y) Largest decline over 3 years	-41.25%	-87.88%	+46.63%
Max Drawdown (5Y) Largest decline over 5 years	-42.27%	-90.46%	+48.19%
Max Drawdown (10Y) Largest decline over 10 years	-42.27%	-90.46%	+48.19%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-13.74%	-35.01%	+21.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.34%	12.65%	-7.31%

Volatility

XSD vs. SOXL - Volatility Comparison

The current volatility for SPDR S&P Semiconductor ETF (XSD) is 14.94%, while Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a volatility of 40.82%. This indicates that XSD 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

	XSD	SOXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.94%	40.82%	-25.88%
Volatility (6M) Calculated over the trailing 6-month period	27.89%	81.29%	-53.40%
Volatility (1Y) Calculated over the trailing 1-year period	36.39%	102.11%	-65.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.25%	107.25%	-69.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.96%	99.04%	-64.08%

XSD vs. SOXL - Expense Ratio Comparison

XSD has a 0.35% expense ratio, which is lower than SOXL's 0.75% expense ratio.

Dividends

XSD vs. SOXL - Dividend Comparison

XSD's dividend yield for the trailing twelve months is around 0.12%, more than SOXL's 0.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%
XSD SPDR S&P Semiconductor ETF	0.12%	0.26%	0.20%	0.31%	0.44%	0.10%	0.26%	0.51%	1.16%	0.59%	0.64%	0.58%

Frequently Asked Questions

Can I hold both XSD and SOXL in my portfolio?

With a correlation of 0.91, XSD and SOXL move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, XSD or SOXL?

SOXL has higher volatility (40.82%) compared to XSD (14.94%). In terms of maximum drawdown, XSD dropped -64.56% vs SOXL's -90.46%.

Which ETF is better, XSD or SOXL?

On 10-year performance, SOXL leads with 65.39% vs 31.10% for XSD. On fees, XSD is cheaper at 0.35% per year. On volatility, XSD has been the lower-risk option at 14.94%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XSD or SOXL?

Over the 10-year period, SOXL has performed better with a 65.39% return vs 31.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XSD or SOXL?

XSD is cheaper with a 0.35% expense ratio, compared with 0.75% for SOXL.

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

XSD has the higher dividend yield at 0.12%, compared with 0.03% for SOXL.

What is the main difference between XSD and SOXL?

XSD is categorized as Semiconductors, while SOXL is Leveraged Equities. XSD tracks S&P Semiconductor Select Industry, while SOXL tracks ICE Semiconductor Index. They also come from different issuers: State Street and Direxion. Their fees differ too: 0.35% for XSD and 0.75% for SOXL.

Which has better risk-adjusted returns?

SOXL currently has the higher Sharpe Ratio (14.28 vs 5.00), 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.