DRIP vs. SOXS
DRIP (Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares) and SOXS (Direxion Daily Semiconductor Bear 3x Shares) are both Leveraged Equities funds from Direxion - DRIP tracks the S&P Oil & Gas Exploration & Production Select Industry Index (-300%) while SOXS tracks the PHLX Semiconductor Index (-300%). Both are passively managed. Over the past 10 years, DRIP returned -42.95%/yr vs -78.92%/yr for SOXS. At a 0.34 correlation, their price movements are largely independent. DRIP charges 1.07%/yr vs 1.08%/yr for SOXS.
Performance
DRIP vs. SOXS - Performance Comparison
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Returns By Period
In the year-to-date period, DRIP achieves a -50.45% return, which is significantly higher than SOXS's -92.10% return. Over the past 10 years, DRIP has outperformed SOXS with an annualized return of -42.95%, while SOXS has yielded a comparatively lower -78.92% annualized return.
DRIP
- 1D
- -3.05%
- 1M
- 9.61%
- YTD
- -50.45%
- 6M
- -43.03%
- 1Y
- -56.10%
- 3Y*
- -30.92%
- 5Y*
- -41.62%
- 10Y*
- -42.95%
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%
DRIP vs. SOXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DRIP Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares | -50.45% | -14.81% | 1.27% | -17.24% | -73.57% | -79.74% | -42.76% | -36.11% | 49.62% | -9.05% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | -92.10% | -85.53% | -59.55% | -84.56% | 15.76% | -80.94% | -92.90% | -83.81% | -19.39% | -69.39% |
Correlation
The correlation between DRIP and SOXS is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Jun 1, 2015 | 0.34 |
The correlation between DRIP and SOXS shifts across timeframes, from -0.01 (1 year) to 0.34 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
DRIP vs. SOXS — Risk / Return Rank
DRIP
SOXS
DRIP vs. SOXS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP) 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.
| DRIP | SOXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | +2.24 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 0.58 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | -0.88 | -1.00 | +0.12 |
| Martin ratioReturn relative to average drawdown | -1.64 | -1.44 | -0.21 |
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
| DRIP | SOXS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.01 | -0.96 | -0.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.61 | -0.74 | +0.13 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.45 | -0.79 | +0.34 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.42 | -0.79 | +0.37 |
Drawdowns
DRIP vs. SOXS - Drawdown Comparison
The maximum DRIP drawdown since its inception was -99.95%, roughly equal to the maximum SOXS drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for DRIP and SOXS.
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Drawdown Indicators
| DRIP | SOXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.95% | -100.00% | +0.05% |
Max Drawdown (1Y)Largest decline over 1 year | -63.84% | -97.68% | +33.84% |
Max Drawdown (3Y)Largest decline over 3 years | -76.02% | -99.80% | +23.78% |
Max Drawdown (5Y)Largest decline over 5 years | -96.24% | -99.97% | +3.73% |
Max Drawdown (10Y)Largest decline over 10 years | -99.92% | -100.00% | +0.08% |
Current DrawdownCurrent decline from peak | -99.94% | -100.00% | +0.06% |
Average DrawdownAverage peak-to-trough decline | -90.45% | -92.60% | +2.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 34.12% | 68.64% | -34.52% |
Volatility
DRIP vs. SOXS - Volatility Comparison
The current volatility for Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP) is 19.66%, while Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a volatility of 44.22%. This indicates that DRIP 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
| DRIP | SOXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.66% | 44.22% | -24.56% |
Volatility (6M)Calculated over the trailing 6-month period | 43.05% | 83.94% | -40.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 55.64% | 102.18% | -46.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 68.36% | 108.21% | -39.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 96.59% | 100.48% | -3.89% |
DRIP vs. SOXS - Expense Ratio Comparison
DRIP has a 1.07% expense ratio, which is lower than SOXS's 1.08% expense ratio.
Dividends
DRIP vs. SOXS - Dividend Comparison
DRIP's dividend yield for the trailing twelve months is around 3.99%, less than SOXS's 68.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DRIP Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares | 3.99% | 2.86% | 4.38% | 5.09% | 0.00% | 0.00% | 0.01% | 0.96% | 0.58% |
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
DRIP and SOXS have a correlation of -0.01, 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 DRIP (19.66%). In terms of maximum drawdown, DRIP dropped -99.95% vs SOXS's -100.00%.
On 10-year performance, DRIP leads with -42.95% vs -78.92% for SOXS. On fees, DRIP is cheaper at 1.07% per year. On volatility, DRIP has been the lower-risk option at 19.66%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DRIP has performed better with a -42.95% return vs -78.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DRIP is cheaper with a 1.07% expense ratio, compared with 1.08% for SOXS.
SOXS has the higher dividend yield at 68.34%, compared with 3.99% for DRIP.
DRIP tracks S&P Oil & Gas Exploration & Production Select Industry Index (-300%), while SOXS tracks PHLX Semiconductor Index (-300%). Their fees differ too: 1.07% for DRIP and 1.08% for SOXS.
SOXS currently has the higher Sharpe Ratio (-0.96 vs -1.01), 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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