AVL vs. SOXS

Last updated Jun 24, 2026

AVL (Direxion Daily AVGO Bull 2X Shares) and SOXS (Direxion Daily Semiconductor Bear 3x Shares) are both exchange-traded funds - AVL is a Leveraged Equities fund actively managed by Direxion, while SOXS is a Inverse Equities fund tracking the PHLX Semiconductor Index (-300%). AVL is actively managed, while SOXS is passively managed. Over the past year, AVL returned 64.93% vs -97.76% for SOXS. At a correlation of -0.68, they often move in opposite directions. AVL charges 1.04%/yr vs 1.08%/yr for SOXS.

Performance

AVL vs. SOXS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily AVGO Bull 2X Shares (AVL) 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, AVL achieves a 2.77% return, which is significantly higher than SOXS's -93.50% return.

AVL

• 1D: -6.83%
• 1M: -20.41%
• YTD: 2.77%
• 6M: 0.78%
• 1Y: 64.93%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SOXS

• 1D: 22.42%
• 1M: -47.74%
• YTD: -93.50%
• 6M: -93.24%
• 1Y: -97.76%
• 3Y*: -87.41%
• 5Y*: -80.25%
• 10Y*: -79.54%

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

AVL vs. SOXS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
AVL Direxion Daily AVGO Bull 2X Shares	2.77%	54.38%	38.75%
SOXS Direxion Daily Semiconductor Bear 3x Shares	-93.50%	-85.53%	19.96%

Correlation

The correlation between AVL and SOXS is -0.62, 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	-0.62
Correlation (All Time) Calculated using the full available price history since Oct 10, 2024	-0.68

The correlation between AVL and SOXS has been stable across timeframes, ranging from -0.68 to -0.62 - a consistent structural relationship.

Return for Risk

AVL vs. SOXS — Risk / Return Rank

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

AVL

AVL Risk / Return Rank: 25
AVL Sharpe Ratio Rank: 21
AVL Sortino Ratio Rank: 29
AVL Omega Ratio Rank: 30
AVL Calmar Ratio Rank: 26
AVL Martin Ratio Rank: 22

SOXS

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

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.

AVL vs. SOXS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily AVGO Bull 2X Shares (AVL) 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.

	AVL	SOXS	Difference
Sharpe ratio: Return per unit of total volatility	0.70	-0.83	+1.54
Sortino ratio: Return per unit of downside risk	1.50	-3.41	+4.91
Omega ratio: Gain probability vs. loss probability	1.19	0.63	+0.56
Calmar ratio: Return relative to maximum drawdown	1.22	-1.00	+2.21
Martin ratio: Return relative to average drawdown	2.57	-1.51	+4.08

AVL vs. SOXS - Sharpe Ratio Comparison

The current AVL Sharpe Ratio is 0.70, which is higher than the SOXS Sharpe Ratio of -0.83. The chart below compares the historical Sharpe Ratios of AVL 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

AVL vs. SOXS - Drawdown Comparison

The maximum AVL drawdown since its inception was -70.63%, smaller than the maximum SOXS drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for AVL and SOXS.

Drawdown Indicators

	AVL	SOXS	Difference
Max Drawdown Largest peak-to-trough decline	-70.63%	-100.00%	+29.37%
Max Drawdown (1Y) Largest decline over 1 year	-53.69%	-97.94%	+44.25%
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	-40.86%	-100.00%	+59.14%
Average Drawdown Average peak-to-trough decline	-23.80%	-92.61%	+68.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.34%	67.48%	-42.14%

Volatility

AVL vs. SOXS - Volatility Comparison

The current volatility for Direxion Daily AVGO Bull 2X Shares (AVL) is 45.26%, while Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a volatility of 66.67%. This indicates that AVL 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

	AVL	SOXS	Difference
Volatility (1M) Calculated over the trailing 1-month period	45.26%	66.67%	-21.41%
Volatility (6M) Calculated over the trailing 6-month period	67.56%	100.39%	-32.83%
Volatility (1Y) Calculated over the trailing 1-year period	92.91%	117.32%	-24.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	107.82%	111.39%	-3.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	107.82%	102.09%	+5.73%

AVL vs. SOXS - Expense Ratio Comparison

AVL has a 1.04% expense ratio, which is lower than SOXS's 1.08% expense ratio.

Dividends

AVL vs. SOXS - Dividend Comparison

AVL's dividend yield for the trailing twelve months is around 28.73%, less than SOXS's 83.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
AVL Direxion Daily AVGO Bull 2X Shares	28.73%	29.04%	0.22%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SOXS Direxion Daily Semiconductor Bear 3x Shares	83.05%	10.79%	5.45%	9.22%	0.19%	0.00%	3.58%	2.30%	0.76%

Frequently Asked Questions

Can I hold both AVL and SOXS in my portfolio?

AVL and SOXS have a correlation of -0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AVL or SOXS?

SOXS has higher volatility (66.67%) compared to AVL (45.26%). In terms of maximum drawdown, AVL dropped -70.63% vs SOXS's -100.00%.

Which ETF is better, AVL or SOXS?

On 1-year performance, AVL leads with 64.93% vs -97.76% for SOXS. On fees, AVL is cheaper at 1.04% per year. On volatility, AVL has been the lower-risk option at 45.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AVL or SOXS?

Over the 1-year period, AVL has performed better with a 64.93% return vs -97.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AVL or SOXS?

AVL is cheaper with a 1.04% expense ratio, compared with 1.08% for SOXS.

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

SOXS has the higher dividend yield at 83.05%, compared with 28.73% for AVL.

What is the main difference between AVL and SOXS?

AVL is categorized as Leveraged Equities, while SOXS is Inverse Equities. Their fees differ too: 1.04% for AVL and 1.08% for SOXS.

Which has better risk-adjusted returns?

AVL currently has the higher Sharpe Ratio (0.70 vs -0.83), 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.