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DFEN vs SOXL

Direxion Daily Aerospace & Defense Bull 3X Shares

DFENCNYSE Arca

Direxion Daily Semiconductor Bull 3X ETF

SOXLANYSE Arca

Overlap

5.4%by weight

Expense ratio

SOXL −0.21pt a year

DFEN0.96%SOXL0.75%

Avg volume · 30D

SOXL 278.6×the volume

DFEN261KSOXL72.8M

5Y return · a year

DFEN +22.1pt

DFEN+25.2%SOXL+3.1%

DFEN vs SOXL Performance

Nov 4, 2021 – Nov 4, 2026

+208.2%DFEN+16.3%SOXL

Nov 4, 2021 to Nov 4, 2026. DFEN +208.2%. SOXL +16.3%. Use the arrow keys to read each point.−100%100%300%400%500%Nov 2021May 2024Nov 2026
Expense ratio
DFEN 0.96%
SOXL 0.75%, better
Fund size
DFEN $282M
SOXL $19.9B
1Y total return
DFEN −21.5%
SOXL +55.9%, better
Yield (12M)
DFEN 11.28%, better
SOXL 0.14%
Holdings
DFEN 61
SOXL 44
Avg volume (30D)
DFEN 261K sh
SOXL 72.8M sh, better
NAV per share
DFEN $47.83
SOXL $77.06
52W range

ETF.net Grade

DFEN: Cost 62, Risk 45, Mission not scored, Tradability 38, Holdings not scored, Durability 44. SOXL: Cost 100, Risk 32, Mission not scored, Tradability 80, Holdings not scored, Durability 69.
Pillar letters and Scores for DFEN, SOXL, with each pillar’s weight
PillarDFENSOXL
Cost30% weightB62A100Higher
Mission25% weightNot scoredNot scored
Risk15% weightC45HigherD32
Tradability15% weightD38A80Higher
Holdings10% weightNot scoredNot scored
Durability5% weightC44B69Higher

Rank among 3x Leveraged Long funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. DFEN and SOXL are both graded against the same 30 3x Leveraged Long funds, so their Grades compare head to head.

3x Leveraged Long⁠

Category · 30 funds
See all 30 ›

SOXL ranks 4th and DFEN 12th of 30 funds in the 3x Leveraged Long Category.

  1. Rank 1ATQQQProShares UltraPro QQQScore 86
  2. Rank 2AFASDirexion Daily Financial Bull 3X ETFScore 80
  3. Rank 2AUDOWProShares UltraPro Dow30Score 80
  4. Rank 4ASOXLDirexion Daily Semiconductor Bull 3X ETFScore 77
  5. Rank 5ATMFDirexion Daily 20+ Year Treasury Bull 3X ETFScore 74
  6. Rank 11CLABUDirexion Daily S&P Biotech Bull 3X SharesScore 54
  7. Rank 12CDFENDirexion Daily Aerospace & Defense Bull 3X SharesScore 51
  8. Rank 12CRETLDirexion Daily Retail Bull 3X SharesScore 51

Our read on each fund

ETF.net Research

DFENCDirexion Daily Aerospace & Defense Bull 3X Shares

SOXLADirexion Daily Semiconductor Bull 3X ETF

In short

DFEN Most 3x bull funds ride broad benchmarks: the Dow, the Nasdaq, big banks. DFEN aims the same 300%-of-one-day machinery at a single industry, US aerospace and defense contractors. A day-trader's tool, reset every close.

SOXL A 3x bet on chip stocks that resets every single day. Direxion launched it in 2010, long before AI made semiconductors the market's main event, and it is now one of the most heavily traded leveraged funds out there.

Stated mandate

DFEN The fund seeks daily investment results, before fees and expenses, equal to 300% of the performance of the Dow Jones U.S. Select Aerospace & Defense Index. The target applies for a single day, not as a promise of three times the index's cumulative return over longer periods.

SOXL It is designed to deliver a daily result three times the performance of the NYSE Semiconductor Index, before fees and expenses, with the objective applying for a single day.

Why people hold it

  • DFEN Industry-level leverage. Where cohort leaders like UDOW, QLD and FAS track broad markets or financials, DFEN targets one slice: the Dow Jones U.S. Select Aerospace & Defense Index.direxion.com
  • 0.96% expense ratio, under the median for leveraged bull funds. Not cheap in absolute terms, but priced below the middle of a pricey category.
  • The contract is spelled out: 300% of one day's index move, before fees, across roughly 40 defense and aerospace names. No discretion, no stock picking.direxion.com
  • Live since 2017, and one of the stronger builds in a crowded leveraged-bull field on cost and trading friction.
  • SOXL Cheap for the aisle it sits in: 0.75% net of a waiver through September 1, 2027 (0.91% gross), below the category median and under TQQQ's 0.78% net of a waiver through September 30, 2027.
  • The mandate is mechanical: 300% of the NYSE Semiconductor Index's daily move, before fees and expenses, across roughly 40 chip names. No stock picking, no manager discretion.direxion.com
  • A multi-billion-dollar fund that trades very actively, which matters for an instrument designed to be entered and exited inside a single session.
  • Trading since 2010, through several full chip cycles. That is a long run for a 3x product, and one of the stronger setups in its leveraged peer group.

Worth knowing

  • DFEN The 3x target applies to a single day and resets at the close. Hold longer and choppy markets can pull results away from three times the index's move.
  • Concentration on top of leverage: about 40 stocks in one industry, tripled daily. Defense headlines and budget news land hard here.
  • Moderately traded rather than a headline-volume name, so spreads deserve a look before you place an order.
  • SOXL The 3x target applies to one day only. Daily reset plus compounding means multi-day results can diverge sharply from 3x the index, and choppy markets erode value.direxion.com
  • Semiconductors already swing hard. Tripling the daily move magnifies down days exactly as much as up days, so losses can pile up fast.
  • Roughly 40 stocks in a single US industry. No diversification cushion here, and the index itself has been renamed once (to the NYSE Semiconductor Index in 2023).sec.gov

Full DFEN profile⁠

Full SOXL profile⁠

DFEN vs SOXL Holdings

How DFEN and SOXL differ

Overlap by weight

5.4%

Shared holdings make up 13.8% of SOXL and 9.7% of DFEN.

Level by level

  • Holdings2 in both5.4%
  • Countryby domicile89.3%
  • Asset classEquity100%

Sector

No Sector split for DFEN.

Country, concentration and asset class

Country by domicile

Country weights in DFEN and SOXL, widest gap first
CountryMore in DFENMore in SOXLGap
United StatesDFEN +10.7 points
TaiwanSOXL +4.7 points
South KoreaSOXL +3.0 points
NetherlandsSOXL +1.5 points
IsraelSOXL +1.1 points
SingaporeSOXL +0.4 points

Concentration

Weight in the 10 largest Holdings

  • DFEN88.3%
  • SOXL74.7%

Securities held

  • DFEN52
  • SOXL33

Asset class

DFEN
Equity
SOXL
Equity

Holdings

  • Only in DFEN50
  • In both2
  • Only in SOXL31

Only in DFEN

50 securities, 20.8% of DFEN by weight

  • General Electric4.30%
  • Rtx Corp3.55%
  • Boeing Co/The1.39%

Only in SOXL

31 securities, 20.3% of SOXL by weight

  • Jp Morgan 100 Us Trsy Capital 31632.04%
  • Advanced Micro Devices1.64%
  • NVIDIA Corp1.50%

Weight gaps

All 2 Holdings in both funds, largest gap first.

Holding weights in DFEN and SOXL, widest gap first
HoldingMore in DFENMore in SOXLGap
Goldman Finl Sq Trsry Inst 506SOXL +2.62 points
Goldman Sachs Fin Gov 465 InstitutSOXL +0.69 points

All 43 DFEN holdings⁠All 44 SOXL holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

DFEN vs SOXL Cost

Overpaying DFEN vs SOXL

$3,552

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • DFEN 0.96%

    $18,034

  • SOXL 0.75%

    $14,482

$10,000
30 years

Cost over time

  • DFEN 0.96%
  • SOXL 0.75%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530DFEN $18,034SOXL $14,482

Year by year

YearDFENSOXLOverpaying
10$1,695$1,336$359
20$6,383$5,078$1,305
30$18,034$14,482$3,552

Expense ratio

  • 0.96%DFEN
  • 0.75%SOXL, cheaper
  • Middle half of 3x Leveraged Long funds
  • Median 0.96%

SOXL cheapest of 30 funds

DFEN 11th cheapest of 30 funds

DFEN vs SOXL Dividends

Last 12 months to Nov 4, 2026
Yield (12M)
DFEN 11.28%, better
SOXL 0.14%
Payout (12M)
DFEN $5.62
SOXL $0.09
Last payment
DFEN $0.01
SOXL $0.09
Ex-dividend
DFEN Sep 22, 2026
SOXL Sep 22, 2026
Paid on
DFEN Sep 29, 2026
SOXL Sep 29, 2026
Frequency
DFEN Quarterly
SOXL Annual

Distribution history

Per share, 2017 to 2026, same scale for both

DFENQuarterly · 32 paymentsAll DFEN payments⁠
One bar per payment. 32 payments from 2017 to 2026 YTD. Dec 13, 2017 $0.63; Jun 19, 2018 $0.10; Sep 25, 2018 $0.14; Dec 27, 2018 $0.08; Mar 19, 2019 $0.07; Jun 25, 2019 $0.05; Sep 24, 2019 $0.15; Dec 23, 2019 $0.02; Mar 24, 2020 $0.08; Jun 23, 2020 $0.00021; Sep 22, 2020 $0.00038; Mar 23, 2021 $0.01; Dec 9, 2021 $0.34; Dec 21, 2021 $0.0017; Sep 20, 2022 $0.04; Dec 20, 2022 $0.05; Mar 21, 2023 $0.05; Jun 21, 2023 $0.07; Sep 19, 2023 $0.06; Dec 21, 2023 $0.10; Mar 19, 2024 $0.07; Jun 25, 2024 $0.10; Sep 24, 2024 $0.04; Dec 12, 2024 $3.57; Dec 23, 2024 $0.09; Mar 25, 2025 $0.02; Jun 24, 2025 $0.06; Sep 23, 2025 $0.05; Dec 10, 2025 $5.55; Mar 24, 2026 $0.04; Jun 23, 2026 $0.02; Sep 22, 2026 $0.01. Use the arrow keys to read each point.$0$52017202020232026YTD
SOXLAnnual · 29 paymentsAll SOXL payments⁠
One bar per payment. 29 payments from 2017 to 2026 YTD. Dec 19, 2017 $0.0081; Jun 19, 2018 $0.02; Sep 25, 2018 $0.03; Dec 27, 2018 $0.02; Mar 19, 2019 $0.02; Jun 25, 2019 $0.01; Sep 24, 2019 $0.02; Dec 23, 2019 $0.02; Mar 24, 2020 $0.0053; Jun 23, 2020 $0.0063; Dec 22, 2020 $0.0034; Mar 23, 2021 $0.02; Dec 21, 2021 $0.01; Mar 22, 2022 $0.0072; Jun 22, 2022 $0.02; Sep 20, 2022 $0.04; Dec 20, 2022 $0.04; Mar 21, 2023 $0.03; Jun 21, 2023 $0.04; Sep 19, 2023 $0.03; Dec 21, 2023 $0.06; Mar 19, 2024 $0.04; Jun 25, 2024 $0.15; Sep 24, 2024 $0.06; Dec 23, 2024 $0.08; Mar 25, 2025 $0.06; Jun 24, 2025 $0.07; Sep 23, 2025 $0.01; Sep 22, 2026 $0.09. Use the arrow keys to read each point.$0$52017202020232026YTD

DFEN vs SOXL Risk

Fall from peak · 5 years

  • DFEN
  • SOXL
Nov 4, 2021 to Nov 4, 2026. Worst fall: SOXL −90.5% · Oct 2022. Use the arrow keys to read each point.−100%−75%−50%−25%0%Nov 2021May 2024Nov 2026

Risk facts

VolatilityStd dev, 3 years
DFEN 56.5%, betterSOXL 137.2%
Return per unit of riskSharpe ratio, 3 years
DFEN 0.98, betterSOXL 0.90
Worst fallMax drawdown, 5 years
DFEN −55.5%, betterSOXL −90.5%
Market sensitivityBeta, 5 years
DFEN 2.68SOXL 7.64

DFEN and SOXL in the news

All news⁠

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