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 exchange-traded funds - DRIP is a Leveraged Equities fund tracking the S&P Oil & Gas Exploration & Production Select Industry Index (-300%), while SOXS is a Inverse Equities fund tracking the PHLX Semiconductor Index (-300%). Both are passively managed. Over the past 10 years, DRIP returned -42.61%/yr vs -77.95%/yr for SOXS. Their 0.33 correlation means their historical movements had little consistent relationship. 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 -53.72% return, which is significantly higher than SOXS's -91.36% return. Over the past 10 years, DRIP has outperformed SOXS with an annualized return of -42.61%, while SOXS has yielded a comparatively lower -77.95% annualized return.
DRIP
- 1D
- 3.59%
- 1M
- -22.42%
- 6M
- -46.02%
- YTD
- -53.72%
- 1Y
- -57.86%
- 3Y*
- -24.65%
- 5Y*
- -45.76%
- 10Y*
- -42.61%
- ALL TIME*
- -41.99%
SOXS
- 1D
- -2.19%
- 1M
- 17.69%
- 6M
- -85.38%
- YTD
- -91.36%
- 1Y
- -96.54%
- 3Y*
- -85.20%
- 5Y*
- -78.25%
- 10Y*
- -77.95%
- ALL TIME*
- -70.83%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $16.92M | $63.12M | $132.02M | |
| $3.80B | $3.40B | $3.36B |
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 | -53.72% | -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 | -91.36% | -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 -0.03, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.03 |
Correlation (3Y) Balances recent behavior with more history. | 0.15 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.26 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.31 |
Correlation (All Time) Calculated using the full available price history since May 29, 2015 | 0.33 |
The correlation between DRIP and SOXS shifts across timeframes, from -0.03 (1 year) to 0.33 (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.
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.
| DRIP | SOXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.29 | ||
| Sortino ratioReturn per unit of downside risk | +0.78 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 0.73 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | -0.93 | -0.99 | +0.05 |
| Martin ratioReturn relative to average drawdown | -1.52 | -1.35 | -0.17 |
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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 | -62.18% | -97.89% | +35.71% |
Max Drawdown (3Y)Largest decline over 3 years | -76.02% | -99.87% | +23.85% |
Max Drawdown (5Y)Largest decline over 5 years | -96.24% | -99.98% | +3.74% |
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 | -90.56% | -92.66% | +2.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 38.17% | 71.53% | -33.36% |
Volatility
DRIP vs. SOXS - Volatility Comparison
The current volatility for Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP) is 17.47%, while Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a volatility of 53.53%. 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 | 17.47% | 53.53% | -36.06% |
Volatility (6M)Calculated over the trailing 6-month period | 44.98% | 116.62% | -71.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 56.84% | 132.65% | -75.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 67.64% | 114.59% | -46.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 95.72% | 103.78% | -8.06% |
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 3.84%, less than SOXS's 42.78% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DRIP Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares | 3.84% | 2.86% | 4.38% | 5.09% | 0.00% | 0.00% | 0.01% | 0.96% | 0.58% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | 42.78% | 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 -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXS has higher volatility (53.53%) compared to DRIP (17.47%). In terms of maximum drawdown, DRIP dropped -99.95% vs SOXS's -100.00%.
On 10-year performance, DRIP leads with -42.61% vs -77.95% for SOXS. On fees, DRIP is cheaper at 1.07% per year. On volatility, DRIP has been the lower-risk option at 17.47%. 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 -42.61% return vs -77.95%. 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 42.78%, compared with 3.84% for DRIP.
DRIP is categorized as Leveraged Equities, while SOXS is Inverse Equities. 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 (-0.73 vs -1.02), 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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