Data as of .
SOFA vs SOFX: which held to its multiple?
Over the days both have traded, SOFA finished 3.3 points from its stated multiple and SOFX 3.7.
ETFIQ Decay Resistance Score: SOFA scores higher
Did it keep up with its own daily multiple, compounded day by day?
A percentile among the 391 leveraged ETFs, long, over three months. It is a position in a set, not a rating, and neither end of it is a recommendation. All leveraged ETFs ranked by it · How it is computed
Performance, window by window
| Window | Total return | Multiple would give | Difference | |||
|---|---|---|---|---|---|---|
| SOFA | SOFX | SOFA | SOFX | SOFA | SOFX | |
| 1 month | −10.2% | −10.6% | −6.9% | −6.9% | −3.3 pts | −3.7 pts |
| 3 months | −1.3% | −4.3% | +8.9% | +8.9% | −10.2 pts | −13.3 pts |
| 6 months | −24.0% | −27.7% | −5.0% | −5.0% | −19.0 pts | −22.7 pts |
| 1 year | not published | −74.8% | not published | −66.6% | not published | −8.2 pts |
| Since launch | −45.3% | −56.3% | −31.4% | +12.5% | −13.8 pts | −68.9 pts |
| SOFA Direxion Daily SOFI Bull 2X ETF Aims to return twice the daily move of SOFI | SOFX Defiance Daily Target 2X Long SOFI ETF Aims to return twice the daily move of SOFI | |
|---|---|---|
| Issuer | Direxion | Defiance |
| Sets out to return | +2x | +2x |
| On | SOFI | SOFI |
| Segment | company | company |
| Fund returned, 3 months | −1.3% | −4.3% |
| Underlying returned, 3 months | +4.5% | +4.5% |
| What the stated multiple implies, 3 months | +8.9% | +8.9% |
| Difference from stated, 3 months | −10.2 pts | −13.3 pts |
| Fund returned, 1 year or since launch | −45.3% | −74.8% |
| Difference from stated, over that window | −13.8 pts | −8.2 pts |
| Underlying volatility | 54% | 54% |
| Difference over the days both have traded | −3.3 pts | −3.7 pts |
| Expense ratio | 0.97% | 1.33% |
| Launched | Feb 11, 2026 | Jan 16, 2025 |
SOFA in plain words
Three months to Sep 11, 2026: SOFA returned −1.3% where its own daily promise gave +1.7%, 3.0 points short. Read the multiple against the whole window instead and +2 times SOFI's 4.5% implies +8.9%, which makes SOFA look 10.2 points short. 7.2 of that is daily compounding, which happens to any +2 times fund over the same path, and the rest is the fund. SOFA aims to return +2 times SOFI's move each day, then resets. Over one day it does that. Over longer, the daily results compound, so the total is not +2 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more. SOFI moved at 54% annualized over that window. That is what decides how far the two figures separate: the same fund on a calm underlying and a violent one is a different product.
SOFX in plain words
Three months to Sep 11, 2026: SOFX returned −4.3% where its own daily promise gave +1.7%, 6.0 points short. Read the multiple against the whole window instead and +2 times SOFI's 4.5% implies +8.9%, which makes SOFX look 13.3 points short. SOFX aims to return +2 times SOFI's move each day, then resets.
Questions people ask
- Which came closer to its stated multiple, SOFA or SOFX?
- Over the window to Sep 11, 2026, SOFA finished 10.2 points from what its multiple implies and SOFX finished 13.3 points from its own, so SOFA came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are SOFA and SOFX levered on the same thing?
- Yes. Both are levered on SOFI, SOFA at +2 times and SOFX at +2 times the daily move.
- Which one decays faster, SOFA or SOFX?
- Decay follows how much the underlying moves about. Over this window SOFA’s moved at 54% annualized and SOFX’s at 54%, so SOFA has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold SOFA or SOFX for a year?
- Both reset every day, so the multiple in the name applies to a single day and the daily results compound. Over a year the total is not the multiple times the year’s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way.
- Which is cheaper, SOFA or SOFX?
- SOFA charges 0.97% a year and SOFX charges 1.33%, so SOFA is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, SOFA against SOFX, data as of Sep 11, 2026. https://etfiq.com/compare/leverage/SOFA-SOFX Free to use with attribution; the underlying files are at Open data.