AAPD vs. SOXS
AAPD (Direxion Daily AAPL Bear 1X Shares) and SOXS (Direxion Daily Semiconductor Bear 3x Shares) are both Inverse Equities funds from Direxion - AAPD tracks the Apple Inc. (-100%) while SOXS tracks the PHLX Semiconductor Index (-300%). Both are passively managed. Over the past 3 years, AAPD returned -16.55%/yr vs -86.28%/yr for SOXS. Their 0.44 correlation means their historical movements had little consistent relationship. AAPD charges 1.06%/yr vs 1.08%/yr for SOXS.
Performance
AAPD vs. SOXS - Performance Comparison
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Returns By Period
In the year-to-date period, AAPD achieves a -13.18% return, which is significantly higher than SOXS's -93.11% return.
AAPD
- 1D
- -1.92%
- 1M
- -1.06%
- 6M
- -13.97%
- YTD
- -13.18%
- 1Y
- -34.80%
- 3Y*
- -16.55%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -15.73%
SOXS
- 1D
- -20.25%
- 1M
- -6.14%
- 6M
- -89.05%
- YTD
- -93.11%
- 1Y
- -97.13%
- 3Y*
- -86.28%
- 5Y*
- -79.23%
- 10Y*
- -78.44%
- ALL TIME*
- -71.23%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $133.85M | $121.65M | $106.46M | |
| $3.85B | $3.40B | $3.36B |
AAPD vs. SOXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
AAPD Direxion Daily AAPL Bear 1X Shares | -13.18% | -11.41% | -21.45% | -30.42% | 20.24% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | -93.11% | -85.53% | -59.55% | -84.56% | 5.91% |
Correlation
The correlation between AAPD and SOXS is 0.23, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.23 |
Correlation (3Y) Balances recent behavior with more history. | 0.35 |
Correlation (All Time) Calculated using the full available price history since Aug 9, 2022 | 0.44 |
Over the past year, the correlation between AAPD and SOXS has dropped to 0.23 - well below their long-term average of 0.44, suggesting their price drivers have been diverging.
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Return for Risk
AAPD vs. SOXS — Risk / Return Rank
AAPD
SOXS
AAPD vs. SOXS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily AAPL Bear 1X Shares (AAPD) and Direxion Daily Semiconductor Bear 3x Shares (SOXS). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| AAPD | SOXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.62 | ||
| Sortino ratioReturn per unit of downside risk | +0.60 | ||
| Omega ratioGain probability vs. loss probability | 0.76 | 0.72 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | -0.86 | -0.99 | +0.13 |
| Martin ratioReturn relative to average drawdown | -1.38 | -1.35 | -0.03 |
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Drawdowns
AAPD vs. SOXS - Drawdown Comparison
The maximum AAPD drawdown since its inception was -63.02%, smaller than the maximum SOXS drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for AAPD and SOXS.
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Drawdown Indicators
| AAPD | SOXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.02% | -100.00% | +36.98% |
Max Drawdown (1Y)Largest decline over 1 year | -40.60% | -97.89% | +57.29% |
Max Drawdown (3Y)Largest decline over 3 years | -53.16% | -99.87% | +46.71% |
Max Drawdown (5Y)Largest decline over 5 years | — | -99.98% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -100.00% | — |
Current DrawdownCurrent decline from peak | -59.53% | -100.00% | +40.47% |
Average DrawdownAverage peak-to-trough decline | -35.21% | -92.66% | +57.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 25.30% | 71.79% | -46.49% |
Volatility
AAPD vs. SOXS - Volatility Comparison
The current volatility for Direxion Daily AAPL Bear 1X Shares (AAPD) is 10.59%, while Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a volatility of 57.90%. This indicates that AAPD experiences smaller price fluctuations and is considered to be less risky than SOXS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AAPD | SOXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.59% | 57.90% | -47.31% |
Volatility (6M)Calculated over the trailing 6-month period | 20.23% | 118.41% | -98.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.84% | 133.78% | -107.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.45% | 114.93% | -87.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.45% | 103.97% | -76.52% |
AAPD vs. SOXS - Expense Ratio Comparison
AAPD has a 1.06% expense ratio, which is lower than SOXS's 1.08% expense ratio.
Dividends
AAPD vs. SOXS - Dividend Comparison
AAPD's dividend yield for the trailing twelve months is around 3.52%, less than SOXS's 53.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
AAPD Direxion Daily AAPL Bear 1X Shares | 3.52% | 3.60% | 4.55% | 4.37% | 0.53% | 0.00% | 0.00% | 0.00% | 0.00% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | 53.64% | 10.79% | 5.45% | 9.22% | 0.19% | 0.00% | 3.58% | 2.30% | 0.76% |
Frequently Asked Questions
AAPD and SOXS have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXS has higher volatility (57.90%) compared to AAPD (10.59%). In terms of maximum drawdown, AAPD dropped -63.02% vs SOXS's -100.00%.
On 3-year performance, AAPD leads with -16.55% vs -86.28% for SOXS. On fees, AAPD is cheaper at 1.06% per year. On volatility, AAPD has been the lower-risk option at 10.59%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, AAPD has performed better with a -16.55% return vs -86.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AAPD is cheaper with a 1.06% expense ratio, compared with 1.08% for SOXS.
SOXS has the higher dividend yield at 53.64%, compared with 3.52% for AAPD.
AAPD tracks Apple Inc. (-100%), while SOXS tracks PHLX Semiconductor Index (-300%). Their fees differ too: 1.06% for AAPD and 1.08% for SOXS.
SOXS currently has the higher Sharpe Ratio (-0.73 vs -1.35), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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