AAPU vs. SOXS
AAPU (Direxion Daily AAPL Bull 2X Shares) and SOXS (Direxion Daily Semiconductor Bear 3x Shares) are both Leveraged Equities funds from Direxion - AAPU tracks the Apple Inc. (150%) while SOXS tracks the PHLX Semiconductor Index (-300%). Both are passively managed. Over the past 3 years, AAPU returned 25.97%/yr vs -86.64%/yr for SOXS. At a correlation of -0.47, they often move in opposite directions. AAPU charges 1.04%/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 23.16% return, which is significantly higher than SOXS's -92.10% return.
AAPU
- 1D
- -3.04%
- 1M
- 24.81%
- YTD
- 23.16%
- 6M
- 11.93%
- 1Y
- 104.11%
- 3Y*
- 25.97%
- 5Y*
- —
- 10Y*
- —
SOXS
- 1D
- -5.03%
- 1M
- -62.97%
- YTD
- -92.10%
- 6M
- -91.70%
- 1Y
- -97.75%
- 3Y*
- -86.64%
- 5Y*
- -79.66%
- 10Y*
- -78.92%
AAPU vs. SOXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
AAPU Direxion Daily AAPL Bull 2X Shares | 23.16% | -2.91% | 58.45% | 68.66% | -32.82% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | -92.10% | -85.53% | -59.55% | -84.56% | -6.94% |
Correlation
The correlation between AAPU and SOXS is -0.33, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.33 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.39 |
Correlation (All Time) Calculated using the full available price history since Aug 10, 2022 | -0.47 |
The correlation between AAPU and SOXS shifts across timeframes, from -0.47 (all time) to -0.33 (1 year), reflecting how their relationship changes across market environments.
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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.
| AAPU | SOXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.30 | ||
| Sortino ratioReturn per unit of downside risk | +6.94 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 0.58 | +0.80 |
| Calmar ratioReturn relative to maximum drawdown | 3.62 | -1.00 | +4.62 |
| Martin ratioReturn relative to average drawdown | 8.72 | -1.44 | +10.16 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| AAPU | SOXS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.34 | -0.96 | +3.30 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.74 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.79 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.46 | -0.79 | +1.24 |
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% | -97.68% | +68.78% |
Max Drawdown (3Y)Largest decline over 3 years | -58.61% | -99.80% | +41.19% |
Max Drawdown (5Y)Largest decline over 5 years | — | -99.97% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -100.00% | — |
Current DrawdownCurrent decline from peak | -3.04% | -100.00% | +96.96% |
Average DrawdownAverage peak-to-trough decline | -17.69% | -92.60% | +74.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.98% | 68.64% | -56.66% |
Volatility
AAPU vs. SOXS - Volatility Comparison
The current volatility for Direxion Daily AAPL Bull 2X Shares (AAPU) is 10.71%, while Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a volatility of 44.22%. 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 | 10.71% | 44.22% | -33.51% |
Volatility (6M)Calculated over the trailing 6-month period | 31.79% | 83.94% | -52.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.66% | 102.18% | -57.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 48.93% | 108.21% | -59.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 48.93% | 100.48% | -51.55% |
AAPU vs. SOXS - Expense Ratio Comparison
AAPU has a 1.04% 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 6.90%, less than SOXS's 68.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
AAPU Direxion Daily AAPL Bull 2X Shares | 6.90% | 8.66% | 14.58% | 2.32% | 0.79% | 0.00% | 0.00% | 0.00% | 0.00% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | 68.34% | 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 -0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXS has higher volatility (44.22%) compared to AAPU (10.71%). In terms of maximum drawdown, AAPU dropped -58.61% vs SOXS's -100.00%.
On 3-year performance, AAPU leads with 25.97% vs -86.64% for SOXS. On fees, AAPU is cheaper at 1.04% per year. On volatility, AAPU has been the lower-risk option at 10.71%. 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 25.97% return vs -86.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AAPU is cheaper with a 1.04% expense ratio, compared with 1.08% for SOXS.
SOXS has the higher dividend yield at 68.34%, compared with 6.90% for AAPU.
AAPU tracks Apple Inc. (150%), while SOXS tracks PHLX Semiconductor Index (-300%). Their fees differ too: 1.04% for AAPU and 1.08% for SOXS.
AAPU currently has the higher Sharpe Ratio (2.34 vs -0.96), 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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