AIBD vs. SOXS

Last updated Jul 17, 2026

AIBD (Direxion Daily AI and Big Data Bear 2X Shares) and SOXS (Direxion Daily Semiconductor Bear 3x Shares) are both Inverse Equities funds from Direxion - AIBD tracks the Solactive US AI & Big Data Index while SOXS tracks the PHLX Semiconductor Index (-300%). Both are passively managed. Over the past year, AIBD returned -39.60% vs -96.24% for SOXS. A 0.72 correlation means they provide meaningful diversification when combined. AIBD charges 1.05%/yr vs 1.08%/yr for SOXS.

Performance

AIBD vs. SOXS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily AI and Big Data Bear 2X Shares (AIBD) and Direxion Daily Semiconductor Bear 3x Shares (SOXS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AIBD achieves a -26.00% return, which is significantly higher than SOXS's -91.53% return.

AIBD

• 1D: 5.39%
• 1M: 9.76%
• 6M: -24.63%
• YTD: -26.00%
• 1Y: -39.60%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SOXS

• 1D: 13.14%
• 1M: 13.65%
• 6M: -87.79%
• YTD: -91.53%
• 1Y: -96.24%
• 3Y*: -84.87%
• 5Y*: -79.52%
• 10Y*: -78.37%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AIBD vs. SOXS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
AIBD Direxion Daily AI and Big Data Bear 2X Shares	-26.00%	-49.15%	-34.56%
SOXS Direxion Daily Semiconductor Bear 3x Shares	-91.53%	-85.53%	-25.81%

Correlation

The correlation between AIBD and SOXS is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.64
Correlation (All Time) Calculated using the full available price history since May 15, 2024	0.72

The correlation between AIBD and SOXS has been stable across timeframes, ranging from 0.64 to 0.72 - a consistent structural relationship.

Return for Risk

AIBD vs. SOXS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AIBD

AIBD Risk / Return Rank: 3
AIBD Sharpe Ratio Rank: 3
AIBD Sortino Ratio Rank: 4
AIBD Omega Ratio Rank: 4
AIBD Calmar Ratio Rank: 4
AIBD Martin Ratio Rank: 2

SOXS

SOXS Risk / Return Rank: 1
SOXS Sharpe Ratio Rank: 3
SOXS Sortino Ratio Rank: 0
SOXS Omega Ratio Rank: 0
SOXS Calmar Ratio Rank: 0
SOXS Martin Ratio Rank: 2

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AIBD vs. SOXS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily AI and Big Data Bear 2X Shares (AIBD) 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.

	AIBD	SOXS	Difference
Sharpe ratio: Return per unit of total volatility	-0.72	-0.76	+0.04
Sortino ratio: Return per unit of downside risk	-0.91	-2.65	+1.74
Omega ratio: Gain probability vs. loss probability	0.90	0.72	+0.18
Calmar ratio: Return relative to maximum drawdown	-0.68	-0.98	+0.31
Martin ratio: Return relative to average drawdown	-1.41	-1.41	0.00

AIBD vs. SOXS - Sharpe Ratio Comparison

The current AIBD Sharpe Ratio is -0.72, which is comparable to the SOXS Sharpe Ratio of -0.76. The chart below compares the historical Sharpe Ratios of AIBD and SOXS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AIBD vs. SOXS - Drawdown Comparison

The maximum AIBD drawdown since its inception was -82.11%, smaller than the maximum SOXS drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for AIBD and SOXS.

Drawdown Indicators

	AIBD	SOXS	Difference
Max Drawdown Largest peak-to-trough decline	-82.11%	-100.00%	+17.89%
Max Drawdown (1Y) Largest decline over 1 year	-58.75%	-97.89%	+39.14%
Max Drawdown (3Y) Largest decline over 3 years	—	-99.87%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-99.98%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-100.00%	—
Current Drawdown Current decline from peak	-77.48%	-100.00%	+22.52%
Average Drawdown Average peak-to-trough decline	-49.73%	-92.63%	+42.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	28.63%	68.36%	-39.73%

Volatility

AIBD vs. SOXS - Volatility Comparison

The current volatility for Direxion Daily AI and Big Data Bear 2X Shares (AIBD) is 15.87%, while Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a volatility of 59.41%. This indicates that AIBD 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.

Volatility by Period

	AIBD	SOXS	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.87%	59.41%	-43.54%
Volatility (6M) Calculated over the trailing 6-month period	42.24%	109.76%	-67.52%
Volatility (1Y) Calculated over the trailing 1-year period	54.86%	126.44%	-71.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	57.20%	113.26%	-56.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	57.20%	103.02%	-45.82%

AIBD vs. SOXS - Expense Ratio Comparison

AIBD has a 1.05% expense ratio, which is lower than SOXS's 1.08% expense ratio.

Dividends

AIBD vs. SOXS - Dividend Comparison

AIBD's dividend yield for the trailing twelve months is around 3.41%, less than SOXS's 43.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
AIBD Direxion Daily AI and Big Data Bear 2X Shares	3.41%	4.37%	3.58%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SOXS Direxion Daily Semiconductor Bear 3x Shares	43.65%	10.79%	5.45%	9.22%	0.19%	0.00%	3.58%	2.30%	0.76%

Frequently Asked Questions

Can I hold both AIBD and SOXS in my portfolio?

AIBD and SOXS have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AIBD or SOXS?

SOXS has higher volatility (59.41%) compared to AIBD (15.87%). In terms of maximum drawdown, AIBD dropped -82.11% vs SOXS's -100.00%.

Which ETF is better, AIBD or SOXS?

On 1-year performance, AIBD leads with -39.60% vs -96.24% for SOXS. On fees, AIBD is cheaper at 1.05% per year. On volatility, AIBD has been the lower-risk option at 15.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AIBD or SOXS?

Over the 1-year period, AIBD has performed better with a -39.60% return vs -96.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AIBD or SOXS?

AIBD is cheaper with a 1.05% expense ratio, compared with 1.08% for SOXS.

Which ETF pays a higher dividend yield, AIBD or SOXS?

SOXS has the higher dividend yield at 43.65%, compared with 3.41% for AIBD.

What is the main difference between AIBD and SOXS?

AIBD tracks Solactive US AI & Big Data Index, while SOXS tracks PHLX Semiconductor Index (-300%). Their fees differ too: 1.05% for AIBD and 1.08% for SOXS.

Which has better risk-adjusted returns?

AIBD currently has the higher Sharpe Ratio (-0.72 vs -0.76), 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.