The iShares Semiconductor ETF (SOXX) has fallen roughly 25% from its June 22 peak while the Direxion Daily Semiconductor Bull 3X Shares (SOXL), a leveraged ETF, has plunged nearly two-thirds over the same stretch. The latest slide is part of a chip-stock crash that the rest of the market has largely absorbed. Yahoo Finance AlphaSpaceIt would be easy to assume that SOXL should be down three times the SOXX loss of 25%, or 75%. Volatile sell-offs or even just a choppy, sideways market expose the pitfalls of leverage that resets daily. But measured against the leveraged ETF boom that preceded it, Baird Strategas' chief ETF strategist Todd Sohn described the retreat more bluntly.