DPST vs SOXL

DPSTBDirexion Daily Regional Banks Bull 3X ETF

SOXLADirexion Daily Semiconductor Bull 3X ETF

In short

DPST Most leveraged financial funds hand you the megabanks. DPST goes narrow: 3x the daily move of an index of roughly 150 regional lenders. A single-purpose amplifier on one of the market's most headline-prone groups.

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

DPST The fund seeks daily investment results, before fees and expenses, equal to 300% of the performance of the S&P Regional Banks Select Industry Index.

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

• DPST At 0.92% a year it undercuts the typical leveraged fund's fee, and it matches what Direxion charges on its broader financials 3x fund (FAS). No premium for the narrower target.
• Regional banks trade on their own drivers: deposits, the rate curve, commercial property loans. This is a clean 3x handle on that theme rather than the whole financial sector.
• The mandate is spelled out, not discretionary: 300% of the S&P Regional Banks Select Industry Index's daily move, before fees and expenses. No stock picking, no manager calls.
• Running since 2015 across roughly 150 banks, it is one of the better-priced, better-traded builds in the leveraged bull group.

• 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

• DPST The 3x target resets every day. Over longer holds, especially choppy ones, compounding can pull results well away from 3x the index's move for the whole period.
• Leverage cuts both ways, and one industry is one storyline: a rate or credit shock tends to hit every regional bank in the basket at once, tripled.
• Volume is solid but not blue-chip, so spreads can widen when banking headlines hit. Any income arrives quarterly and is incidental to the strategy.

• 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 DPST profile⁠

Full SOXL profile⁠