AAPU vs. SOXS
AAPU (Direxion Daily AAPL Bull 2X Shares) and SOXS (Direxion Daily Semiconductor Bear 3x Shares) are both exchange-traded funds - AAPU is a Leveraged Equities fund tracking the Apple Inc. (200%), while SOXS is a Inverse Equities fund tracking the PHLX Semiconductor Index (-300%). Both are passively managed. Over the past 3 years, AAPU returned 22.71%/yr vs -85.20%/yr for SOXS. Their -0.43 correlation means they have often moved in opposite directions in the past. AAPU charges 0.96%/yr vs 1.08%/yr for SOXS.
Performance
AAPU vs. SOXS - Performance Comparison
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Returns By Period
In the year-to-date period, AAPU achieves a 13.33% return, which is significantly higher than SOXS's -91.36% return.
AAPU
- 1D
- -3.64%
- 1M
- -4.76%
- 6M
- 16.42%
- YTD
- 13.33%
- 1Y
- 93.91%
- 3Y*
- 22.71%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 18.81%
SOXS
- 1D
- -2.19%
- 1M
- 17.69%
- 6M
- -85.38%
- YTD
- -91.36%
- 1Y
- -96.54%
- 3Y*
- -85.20%
- 5Y*
- -78.25%
- 10Y*
- -77.95%
- ALL TIME*
- -70.83%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $95.46M | $84.08M | $76.55M | |
| $3.80B | $3.40B | $3.36B |
AAPU vs. SOXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
AAPU Direxion Daily AAPL Bull 2X Shares | 13.33% | -2.91% | 58.45% | 68.66% | -32.44% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | -91.36% | -85.53% | -59.55% | -84.56% | 5.91% |
Correlation
The correlation between AAPU and SOXS is -0.21, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.21 |
Correlation (3Y) Balances recent behavior with more history. | -0.34 |
Correlation (All Time) Calculated using the full available price history since Aug 9, 2022 | -0.43 |
Over the past year, the inverse relationship between AAPU and SOXS has weakened: their correlation has moved from -0.43 to -0.21, meaning they move in opposite directions less often than they have historically.
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Return for Risk
AAPU vs. SOXS — Risk / Return Rank
AAPU
SOXS
AAPU vs. SOXS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily AAPL Bull 2X Shares (AAPU) 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.
| AAPU | SOXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.56 | ||
| Sortino ratioReturn per unit of downside risk | +4.87 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 0.73 | +0.59 |
| Calmar ratioReturn relative to maximum drawdown | 3.27 | -0.99 | +4.25 |
| Martin ratioReturn relative to average drawdown | 7.45 | -1.35 | +8.80 |
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Drawdowns
AAPU vs. SOXS - Drawdown Comparison
The maximum AAPU drawdown since its inception was -58.61%, smaller than the maximum SOXS drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for AAPU and SOXS.
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Drawdown Indicators
| AAPU | SOXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.61% | -100.00% | +41.39% |
Max Drawdown (1Y)Largest decline over 1 year | -28.90% | -97.89% | +68.99% |
Max Drawdown (3Y)Largest decline over 3 years | -58.61% | -99.87% | +41.26% |
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 | -21.19% | -100.00% | +78.81% |
Average DrawdownAverage peak-to-trough decline | -17.30% | -92.66% | +75.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.64% | 71.53% | -58.89% |
Volatility
AAPU vs. SOXS - Volatility Comparison
The current volatility for Direxion Daily AAPL Bull 2X Shares (AAPU) is 21.88%, while Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a volatility of 53.53%. This indicates that AAPU 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
| AAPU | SOXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.88% | 53.53% | -31.65% |
Volatility (6M)Calculated over the trailing 6-month period | 41.74% | 116.62% | -74.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 51.65% | 132.65% | -81.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 50.09% | 114.59% | -64.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 50.09% | 103.78% | -53.69% |
AAPU vs. SOXS - Expense Ratio Comparison
AAPU has a 0.96% expense ratio, which is lower than SOXS's 1.08% expense ratio.
Dividends
AAPU vs. SOXS - Dividend Comparison
AAPU's dividend yield for the trailing twelve months is around 7.90%, less than SOXS's 42.78% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
AAPU Direxion Daily AAPL Bull 2X Shares | 7.90% | 8.66% | 14.58% | 2.32% | 0.79% | 0.00% | 0.00% | 0.00% | 0.00% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | 42.78% | 10.79% | 5.45% | 9.22% | 0.19% | 0.00% | 3.58% | 2.30% | 0.76% |
Frequently Asked Questions
AAPU and SOXS have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXS has higher volatility (53.53%) compared to AAPU (21.88%). In terms of maximum drawdown, AAPU dropped -58.61% vs SOXS's -100.00%.
On 3-year performance, AAPU leads with 22.71% vs -85.20% for SOXS. On fees, AAPU is cheaper at 0.96% per year. On volatility, AAPU has been the lower-risk option at 21.88%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, AAPU has performed better with a 22.71% return vs -85.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AAPU is cheaper with a 0.96% expense ratio, compared with 1.08% for SOXS.
SOXS has the higher dividend yield at 42.78%, compared with 7.90% for AAPU.
AAPU is categorized as Leveraged Equities, while SOXS is Inverse Equities. AAPU tracks Apple Inc. (200%), while SOXS tracks PHLX Semiconductor Index (-300%). Their fees differ too: 0.96% for AAPU and 1.08% for SOXS.
AAPU currently has the higher Sharpe Ratio (1.83 vs -0.73), 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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