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SOXL vs TMF

Direxion Daily Semiconductor Bull 3X ETF

SOXLANYSE Arca

Direxion Daily 20+ Year Treasury Bull 3X ETF

TMFANYSE Arca

Overlap

9.6%by weight

Expense ratio

SOXL −0.15pt a year

SOXL0.75%TMF0.90%

Avg volume · 30D

SOXL 12.3×the volume

SOXL70.7MTMF5.73M

10Y return · a year

SOXL +56.6pt

SOXL+39.4%TMF−17.2%

SOXL vs TMF Performance

Oct 29, 2021 – Oct 30, 2026

+66.7%SOXL−87.8%TMF

Oct 29, 2021 to Oct 30, 2026. SOXL +66.7%. TMF −87.8%. Use the arrow keys to read each point.200%300%400%500%Oct 2021Apr 2024Oct 2026
Expense ratio
SOXL 0.75%, better
TMF 0.90%
Fund size
SOXL $24.3B
TMF $1.95B
1Y total return
SOXL +61.4%, better
TMF −25.0%
Yield (12M)
SOXL 0.12%
TMF 4.68%, better
Holdings
SOXL 43
TMF 14
Avg volume (30D)
SOXL 70.7M sh, better
TMF 5.73M sh
NAV per share
SOXL $102.45
TMF $29.47
52W range

ETF.net Grade

SOXL: Cost 100, Risk 32, Mission not scored, Tradability 79, Holdings not scored, Durability 69. TMF: Cost 87, Risk 49, Mission not scored, Tradability 79, Holdings 100, Durability 65.
Pillar letters and Scores for SOXL, TMF, with each pillar’s weight
PillarSOXLTMF
Cost30% weightA100HigherA87
Mission25% weightNot scoredNot scored
Risk15% weightD32C49Higher
Tradability15% weightA79A79
Holdings10% weightNot scoredA100
Durability5% weightB69HigherB65

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. SOXL and TMF 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 TMF 5th of 30 funds in the 3x Leveraged Long Category.

  1. Rank 1ATQQQProShares UltraPro QQQScore 86
  2. Rank 2AUDOWProShares UltraPro Dow30Score 81
  3. Rank 3AFASDirexion Daily Financial Bull 3X ETFScore 80
  4. Rank 4ASOXLDirexion Daily Semiconductor Bull 3X ETFScore 76
  5. Rank 5ATMFDirexion Daily 20+ Year Treasury Bull 3X ETFScore 74
  6. Rank 6ATECLDirexion Daily Technology Bull 3X ETFScore 72

Our read on each fund

ETF.net Research

SOXLADirexion Daily Semiconductor Bull 3X ETF

TMFADirexion Daily 20+ Year Treasury Bull 3X ETF

In short

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.

TMF Three times the daily move of long-dated Treasuries, reset every day. Where most 3x funds aim at stocks, TMF points its leverage at the 20-year-plus end of the curve, and has been doing it since 2009.

Stated mandate

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.

TMF The Fund seeks pre-fee and expense investment results equal to 300% of the daily performance of the ICE U.S. Treasury 20+ Year Bond Index. It is designed for a single trading day, and longer-period results may differ because daily returns compound.

Why people hold it

  • 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.
  • TMF A rate bet without an options account: it targets 300% of the daily move of the ICE U.S. Treasury 20+ Year Bond Index.
  • 0.90% net of a waiver through September 1, 2027 (1.01% gross), below the category median for 3x funds.
  • One of the more heavily traded funds in the leveraged group, which generally helps keep spreads thin for in-and-out trading.
  • Running since 2009, among the longest-lived 3x funds, through several very different rate regimes.

Worth knowing

  • 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
  • TMF Daily reset: over more than one day, results can drift well away from 3x the index's move, and choppy stretches grind compounded returns down.
  • Triple duration cuts both ways. A 1% day in the index becomes roughly 3% here, up or down.
  • Distributions come quarterly, and the prospectus frames the fund as a single-day tool rather than a hold-and-forget position.

Full SOXL profile⁠

Full TMF profile⁠

SOXL vs TMF Holdings

How SOXL and TMF differ

Overlap by weight

9.6%

Shared holdings make up 13.0% of TMF and 10.8% of SOXL.

Level by level

  • Asset classEquity, Fixed Income0.0%
  • Holdings2 in both9.6%
  • Countryby domicile89.3%

Sector

No Sector split for TMF.

Country, concentration and asset class

Country by domicile

Country weights in SOXL and TMF, widest gap first
CountryMore in SOXLMore in TMF
United StatesTMF +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

  • SOXL74.3%
  • TMF91.4%

Securities held

  • SOXL32
  • TMF4

Asset class

SOXL
Equity
TMF
Fixed Income

Holdings

  • Only in SOXL30
  • In both2
  • Only in TMF2

Only in SOXL

30 securities, 20.9% of SOXL by weight

  • Advanced Micro Devices1.99%
  • Intel Corp1.70%
  • Micron Technology Inc1.61%

Only in TMF

2 securities, 19.9% of TMF by weight

  • Ishares 20+ Year Treasury Bd19.20%
  • Goldman Sachs Fin Gov 465 Institut0.71%

Weight gaps

All 2 Holdings in both funds, largest gap first.

Holding weights in SOXL and TMF, widest gap first
HoldingMore in SOXLMore in TMF
Goldman Finl Sq Trsry Inst 506TMF +0.98 points
Jp Morgan 100 Us Trsy Capital 3163SOXL +0.12 points

All 44 SOXL holdings⁠All 13 TMF 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.

SOXL vs TMF Cost

Overpaying TMF vs SOXL

$2,558

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

  • SOXL 0.75%

    $14,482

  • TMF 0.90%

    $17,040

$10,000
30 years

Cost over time

  • SOXL 0.75%
  • TMF 0.90%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530TMF $17,040SOXL $14,482

Year by year

YearSOXLTMFOverpaying
10$1,336$1,593$257
20$5,078$6,015$937
30$14,482$17,040$2,558

Expense ratio

  • 0.75%SOXL, cheaper
  • 0.90%TMF
  • Middle half of 3x Leveraged Long funds
  • Median 0.96%

SOXL cheapest of 30 funds

TMF 5th cheapest of 30 funds

SOXL vs TMF Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
SOXL 0.12%
TMF 4.68%, better
Payout (12M)
SOXL $0.09
TMF $1.40
Last payment
SOXL $0.09
TMF $0.35
Ex-dividend
SOXL Sep 22, 2026
TMF Sep 22, 2026
Paid on
SOXL Sep 29, 2026
TMF Sep 29, 2026
Frequency
SOXL Annual
TMF Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

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
TMFQuarterly · 35 paymentsAll TMF payments⁠
One bar per payment. 35 payments from 2017 to 2026 YTD. Jun 20, 2017 $0.18; Dec 19, 2017 $0.72; Mar 20, 2018 $0.30; Jun 19, 2018 $1.04; Sep 25, 2018 $0.57; Dec 27, 2018 $0.97; Mar 19, 2019 $0.68; Jun 25, 2019 $0.67; Sep 24, 2019 $0.59; Dec 23, 2019 $0.50; Mar 24, 2020 $0.99; Dec 10, 2020 $6.86; Mar 23, 2021 $0.15; Jun 22, 2021 $0.14; Sep 21, 2021 $0.05; Dec 21, 2021 $0.02; Mar 22, 2022 $0.15; Jun 22, 2022 $0.26; Sep 20, 2022 $0.36; Dec 20, 2022 $0.47; Mar 21, 2023 $0.35; Jun 21, 2023 $0.48; Sep 19, 2023 $0.50; Dec 21, 2023 $0.50; Mar 19, 2024 $0.32; Jun 25, 2024 $0.43; Sep 24, 2024 $0.44; Dec 23, 2024 $0.52; Mar 25, 2025 $0.29; Jun 24, 2025 $0.36; Sep 23, 2025 $0.41; Dec 23, 2025 $0.46; Mar 24, 2026 $0.22; Jun 23, 2026 $0.37; Sep 22, 2026 $0.35. Use the arrow keys to read each point.$0$52017202020232026YTD

SOXL vs TMF Risk

Fall from peak · 5 years

  • SOXL
  • TMF
Oct 29, 2021 to Oct 30, 2026. Worst fall: TMF −90.9% · Oct 2026. Use the arrow keys to read each point.−100%−75%−50%−25%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
SOXL 137.2%TMF 40.2%, better
Return per unit of riskSharpe ratio, 3 years
SOXL 0.90, betterTMF −0.07
Worst fallMax drawdown, 5 years
SOXL −90.5%, betterTMF −90.9%
Market sensitivityBeta, 5 years
SOXL 7.64TMF 7.22

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