CWEB vs. SOXS
CWEB (Direxion Daily CSI China Internet Index Bull 2x Shares) and SOXS (Direxion Daily Semiconductor Bear 3x Shares) are both exchange-traded funds - CWEB is a Leveraged Equities fund tracking the CSI China Overseas Internet Index (200%), while SOXS is a Inverse Equities fund tracking the PHLX Semiconductor Index (-300%). Both are passively managed. Over the past 5 years, CWEB returned -45.85%/yr vs -80.25%/yr for SOXS. At a correlation of -0.49, they often move in opposite directions. CWEB charges 1.30%/yr vs 1.08%/yr for SOXS.
Performance
CWEB vs. SOXS - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, CWEB achieves a -52.10% return, which is significantly higher than SOXS's -93.50% return.
CWEB
- 1D
- -4.75%
- 1M
- -18.42%
- YTD
- -52.10%
- 6M
- -53.54%
- 1Y
- -48.20%
- 3Y*
- -16.02%
- 5Y*
- -45.85%
- 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%
CWEB vs. SOXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CWEB Direxion Daily CSI China Internet Index Bull 2x Shares | -52.10% | 29.04% | 0.12% | -32.85% | -59.43% | -79.35% | 116.38% | 51.24% | -63.01% | 166.27% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | -93.50% | -85.53% | -59.55% | -84.56% | 15.76% | -80.94% | -92.90% | -83.81% | -19.39% | -69.39% |
Correlation
The correlation between CWEB and SOXS is -0.42, 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 | -0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.37 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.40 |
Correlation (All Time) Calculated using the full available price history since Nov 2, 2016 | -0.49 |
The correlation between CWEB and SOXS shifts across timeframes, from -0.49 (all time) to -0.37 (3 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
CWEB vs. SOXS — Risk / Return Rank
CWEB
SOXS
CWEB vs. SOXS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily CSI China Internet Index Bull 2x Shares (CWEB) 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.
| CWEB | SOXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | +2.10 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 0.63 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | -0.72 | -1.00 | +0.28 |
| Martin ratioReturn relative to average drawdown | -1.38 | -1.51 | +0.13 |
Loading charts...
Drawdowns
CWEB vs. SOXS - Drawdown Comparison
The maximum CWEB drawdown since its inception was -98.09%, roughly equal to the maximum SOXS drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for CWEB and SOXS.
Loading charts...
Drawdown Indicators
| CWEB | SOXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.09% | -100.00% | +1.91% |
Max Drawdown (1Y)Largest decline over 1 year | -67.18% | -97.94% | +30.76% |
Max Drawdown (3Y)Largest decline over 3 years | -67.18% | -99.87% | +32.69% |
Max Drawdown (5Y)Largest decline over 5 years | -95.63% | -99.98% | +4.35% |
Max Drawdown (10Y)Largest decline over 10 years | — | -100.00% | — |
Current DrawdownCurrent decline from peak | -98.05% | -100.00% | +1.95% |
Average DrawdownAverage peak-to-trough decline | -65.64% | -92.61% | +26.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 34.83% | 67.48% | -32.65% |
Volatility
CWEB vs. SOXS - Volatility Comparison
The current volatility for Direxion Daily CSI China Internet Index Bull 2x Shares (CWEB) is 16.52%, while Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a volatility of 66.67%. This indicates that CWEB 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.
Loading charts...
Volatility by Period
| CWEB | SOXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.52% | 66.67% | -50.15% |
Volatility (6M)Calculated over the trailing 6-month period | 40.88% | 100.39% | -59.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 54.27% | 117.32% | -63.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 94.57% | 111.39% | -16.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 80.54% | 102.09% | -21.55% |
CWEB vs. SOXS - Expense Ratio Comparison
CWEB has a 1.30% expense ratio, which is higher than SOXS's 1.08% expense ratio.
Dividends
CWEB vs. SOXS - Dividend Comparison
CWEB's dividend yield for the trailing twelve months is around 7.05%, less than SOXS's 83.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
CWEB Direxion Daily CSI China Internet Index Bull 2x Shares | 7.05% | 2.77% | 4.59% | 2.63% | 0.00% | 0.00% | 0.00% | 0.64% | 1.59% | 2.98% |
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% | 0.00% |
Frequently Asked Questions
CWEB and SOXS have a correlation of -0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXS has higher volatility (66.67%) compared to CWEB (16.52%). In terms of maximum drawdown, CWEB dropped -98.09% vs SOXS's -100.00%.
On 5-year performance, CWEB leads with -45.85% vs -80.25% for SOXS. On fees, SOXS is cheaper at 1.08% per year. On volatility, CWEB has been the lower-risk option at 16.52%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, CWEB has performed better with a -45.85% return vs -80.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SOXS is cheaper with a 1.08% expense ratio, compared with 1.30% for CWEB.
SOXS has the higher dividend yield at 83.05%, compared with 7.05% for CWEB.
CWEB is categorized as Leveraged Equities, while SOXS is Inverse Equities. CWEB tracks CSI China Overseas Internet Index (200%), while SOXS tracks PHLX Semiconductor Index (-300%). Their fees differ too: 1.30% for CWEB and 1.08% for SOXS.
SOXS currently has the higher Sharpe Ratio (-0.83 vs -0.89), 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.
Find the right allocation for CWEB and SOXS
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer