Data as of .
SOXL vs SOXS: which held to its multiple?
Over three months against its own daily promise, SOXL finished 2.5 points short and SOXS 3.8 points over.
ETFIQ Decay Resistance Score: SOXS 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 | |||
|---|---|---|---|---|---|---|
| SOXL | SOXS | SOXL | SOXS | SOXL | SOXS | |
| 1 month | −14.3% | +7.7% | −10.7% | +10.7% | −3.6 pts | −3.0 pts |
| 3 months | −48.1% | −5.6% | −34.7% | +34.7% | −13.4 pts | −40.3 pts |
| 6 months | +140.2% | −89.1% | +177.8% | −177.8% | −37.6 pts | +88.6 pts |
| 1 year | +317.7% | −96.4% | not meaningful | not meaningful | not meaningful | not meaningful |
| 3 years | +492.3% | −99.8% | not meaningful | not meaningful | not meaningful | not meaningful |
| Since launch | +20139.4% | −100.0% | not meaningful | not meaningful | not meaningful | not meaningful |
| SOXL Direxion Daily Semiconductor Bull 3X ETF Aims to return three times the daily move of semiconductors (SOXX) | SOXS Direxion Daily Semiconductor Bear 3X ETF Aims to return three times the opposite of the daily move of semiconductors (SOXX) | |
|---|---|---|
| Issuer | Direxion | Direxion |
| Sets out to return | +3x | -3x |
| On | SOXX | SOXX |
| Segment | sector | sector |
| Fund returned, 3 months | −48.1% | −5.6% |
| Underlying returned, 3 months | −11.6% | −11.6% |
| What the stated multiple implies, 3 months | −34.7% | +34.7% |
| Difference from stated, 3 months | −13.4 pts | −40.3 pts |
| Fund returned, 1 year or since launch | +317.7% | −96.4% |
| Difference from stated, over that window | not available | not available |
| Underlying volatility | 56% | 56% |
| Expense ratio | 0.75% | 1.00% |
| Launched | Mar 11, 2010 | Mar 11, 2010 |
SOXL in plain words
Three months to Sep 11, 2026: SOXL returned −48.1% where its own daily promise gave −45.6%, 2.5 points short. Read the multiple against the whole window instead and +3 times SOXX's −11.6% implies −34.7%, which makes SOXL look 13.4 points short. 10.9 of that is daily compounding, which happens to any +3 times fund over the same path, and the rest is the fund. SOXL aims to return +3 times SOXX's move each day, then resets. Over one day it does that. Over longer, the daily results compound, so the total is not +3 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. SOXX moved at 56% 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.
SOXS in plain words
Three months to Sep 11, 2026: SOXS returned −5.6% where its own daily promise gave −9.4%, 3.8 points over. Read the multiple against the whole window instead and −3 times SOXX's −11.6% implies +34.7%, which makes SOXS look 40.3 points short. 44.1 of that is daily compounding, which happens to any −3 times fund over the same path, and the rest is the fund. SOXS aims to return -3 times SOXX's move each day, then resets. Over longer, the daily results compound, so the total is not -3 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.
Questions people ask
- Which came closer to its stated multiple, SOXL or SOXS?
- Over the window to Sep 11, 2026, SOXL finished 13.4 points from what its multiple implies and SOXS finished 40.3 points from its own, so SOXL came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are SOXL and SOXS levered on the same thing?
- Yes. Both are levered on semiconductors, SOXL at +3 times and SOXS at -3 times the daily move.
- Which one decays faster, SOXL or SOXS?
- Decay follows how much the underlying moves about. Over this window SOXL’s moved at 56% annualized and SOXS’s at 56%, so SOXL has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold SOXL or SOXS 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, SOXL or SOXS?
- SOXL charges 0.75% a year and SOXS charges 1.00%, so SOXL is cheaper. Fees come from each fund's prospectus.
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, SOXL against SOXS, data as of Sep 11, 2026. https://etfiq.com/compare/leverage/SOXL-SOXS Free to use with attribution; the underlying files are at Open data.