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SOXL vs TNA

Direxion Daily Semiconductor Bull 3X ETF

SOXLANYSE Arca

Direxion Daily Small Cap Bull 3X ETF

TNACNYSE Arca

Overlap

Expense ratio

SOXL −0.30pt a year

SOXL0.75%TNA1.05%

Avg volume · 30D

SOXL 16.4×the volume

SOXL70.7MTNA4.32M

10Y return · a year

SOXL +33.6pt

SOXL+39.4%TNA+5.8%

SOXL vs TNA Performance

Oct 29, 2021 – Oct 30, 2026

+66.7%SOXL−35.5%TNA

Oct 29, 2021 to Oct 30, 2026. SOXL +66.7%. TNA −35.5%. Use the arrow keys to read each point.200%300%400%500%Oct 2021Apr 2024Oct 2026
Expense ratio
SOXL 0.75%, better
TNA 1.05%
Fund size
SOXL $24.3B
TNA $1.4B
1Y total return
SOXL +61.4%, better
TNA +24.0%
Yield (12M)
SOXL 0.12%
TNA 0.31%, better
Holdings
SOXL 43
TNA 12
Avg volume (30D)
SOXL 70.7M sh, better
TNA 4.32M sh
NAV per share
SOXL $102.45
TNA $60.85
52W range

ETF.net Grade

SOXL: Cost 100, Risk 32, Mission not scored, Tradability 79, Holdings not scored, Durability 69. TNA: Cost 17, Risk 57, Mission not scored, Tradability 67, Holdings not scored, Durability 63.
Pillar letters and Scores for SOXL, TNA, with each pillar’s weight
PillarSOXLTNA
Cost30% weightA100HigherF17
Mission25% weightNot scoredNot scored
Risk15% weightD32B57Higher
Tradability15% weightA79HigherB67
Holdings10% weightNot scoredNot scored
Durability5% weightB69HigherB63

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 TNA 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 TNA 20th 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 19CMIDUDirexion Daily Mid Cap Bull 3X ETFScore 42
  7. Rank 20CTNADirexion Daily Small Cap Bull 3X ETFScore 41
  8. Rank 21DPILLDirexion Daily Pharmaceutical & Medical Bull 3X ETFScore 37

Our read on each fund

ETF.net Research

SOXLADirexion Daily Semiconductor Bull 3X ETF

TNACDirexion Daily Small Cap 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.

TNA Three times the Russell 2000's daily move, run by the same fund since November 2008. In a category full of sector bets, this one is a straight leveraged play on US small caps.

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.

TNA The fund seeks daily investment results, before fees and expenses, equal to 300% of the performance of the Russell 2000® Index. Its objective is daily and is not intended to deliver three times the index's cumulative return over periods longer than one day.

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.
  • TNA Aims for 300% of the Russell 2000's daily performance before fees and expenses, with exposure reset each day. The mandate is spelled out, not fuzzy.direxion.com
  • A billion-dollar-scale fund that trades actively, making it one of the main venues for leveraged small-cap exposure.
  • Live since November 2008, so its record spans multiple small-cap booms and busts, not just one cycle.

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
  • TNA Fee is 1.05% (1.07% gross, net of a waiver through September 1, 2027), above the category median. URTY tracks the same index at 0.95% net of a waiver through September 30, 2027.
  • The objective resets daily. Hold longer and compounding can push results far from 3x the index's cumulative move, especially in choppy markets.
  • Triple exposure cuts both ways: a rough day in small caps lands three times as hard.

Full SOXL profile⁠

Full TNA profile⁠

SOXL vs TNA 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 TNA Cost

Overpaying TNA vs SOXL

$5,013

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

  • SOXL 0.75%

    $14,482

  • TNA 1.05%

    $19,495

$10,000
30 years

Cost over time

  • SOXL 0.75%
  • TNA 1.05%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530TNA $19,495SOXL $14,482

Year by year

YearSOXLTNAOverpaying
10$1,336$1,847$511
20$5,078$6,927$1,849
30$14,482$19,495$5,013

Expense ratio

  • 0.75%SOXL, cheaper
  • 1.05%TNA
  • Middle half of 3x Leveraged Long funds
  • Median 0.96%

SOXL cheapest of 30 funds

TNA 25th cheapest of 30 funds

SOXL vs TNA Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
SOXL 0.12%
TNA 0.31%, better
Payout (12M)
SOXL $0.09
TNA $0.18
Last payment
SOXL $0.09
TNA $0.04
Ex-dividend
SOXL Sep 22, 2026
TNA Sep 22, 2026
Paid on
SOXL Sep 29, 2026
TNA Sep 29, 2026
Frequency
SOXL Annual
TNA 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$0.252017202020232026YTD
TNAQuarterly · 24 paymentsAll TNA payments⁠
One bar per payment. 24 payments from 2017 to 2026 YTD. Dec 19, 2017 $0.11; Sep 25, 2018 $0.01; Dec 27, 2018 $0.14; Jun 25, 2019 $0.17; Dec 23, 2019 $0.15; Jun 23, 2020 $0.01; Dec 22, 2020 $0.01; Dec 21, 2021 $0.05; Dec 20, 2022 $0.10; Mar 21, 2023 $0.04; Jun 21, 2023 $0.23; Sep 19, 2023 $0.02; Dec 21, 2023 $0.22; Mar 19, 2024 $0.03; Jun 25, 2024 $0.15; Sep 24, 2024 $0.03; Dec 23, 2024 $0.18; Mar 25, 2025 $0.10; Jun 24, 2025 $0.15; Sep 23, 2025 $0.07; Dec 23, 2025 $0.03; Mar 24, 2026 $0.02; Jun 23, 2026 $0.09; Sep 22, 2026 $0.04. Use the arrow keys to read each point.$0$0.252017202020232026YTD

SOXL vs TNA Risk

Fall from peak · 5 years

  • SOXL
  • TNA
Oct 29, 2021 to Oct 30, 2026. Worst fall: SOXL −90.5% · Oct 2022. 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%TNA 58.6%, better
Return per unit of riskSharpe ratio, 3 years
SOXL 0.90, betterTNA 0.75
Worst fallMax drawdown, 5 years
SOXL −90.5%TNA −82.4%, better
Market sensitivityBeta, 5 years
SOXL 7.64TNA 3.84

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