DRN vs. SOXS
DRN (Direxion Daily Real Estate Bull 3x Shares) and SOXS (Direxion Daily Semiconductor Bear 3x Shares) are both exchange-traded funds - DRN is a REIT fund tracking the MSCI US REIT Index (300%), while SOXS is a Leveraged Equities fund tracking the PHLX Semiconductor Index (-300%). Both are passively managed. Over the past 10 years, DRN returned -5.10%/yr vs -78.81%/yr for SOXS. At a correlation of -0.40, they often move in opposite directions. DRN charges 0.99%/yr vs 1.08%/yr for SOXS.
Performance
DRN vs. SOXS - Performance Comparison
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Returns By Period
In the year-to-date period, DRN achieves a 19.36% return, which is significantly higher than SOXS's -91.68% return. Over the past 10 years, DRN has outperformed SOXS with an annualized return of -5.10%, while SOXS has yielded a comparatively lower -78.81% annualized return.
DRN
- 1D
- 1.30%
- 1M
- -6.56%
- YTD
- 19.36%
- 6M
- 16.51%
- 1Y
- 6.60%
- 3Y*
- 7.32%
- 5Y*
- -11.56%
- 10Y*
- -5.10%
SOXS
- 1D
- -17.41%
- 1M
- -60.17%
- YTD
- -91.68%
- 6M
- -91.80%
- 1Y
- -97.83%
- 3Y*
- -86.41%
- 5Y*
- -79.75%
- 10Y*
- -78.81%
DRN vs. SOXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DRN Direxion Daily Real Estate Bull 3x Shares | 19.36% | -11.24% | -5.29% | 12.03% | -67.26% | 152.94% | -55.37% | 81.86% | -25.11% | 7.50% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | -91.68% | -85.53% | -59.55% | -84.56% | 15.76% | -80.94% | -92.90% | -83.81% | -19.39% | -69.39% |
Correlation
The correlation between DRN and SOXS is -0.17, 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 | -0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.24 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.36 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.33 |
Correlation (All Time) Calculated using the full available price history since Mar 12, 2010 | -0.40 |
Over the past year, the inverse relationship between DRN and SOXS has weakened: their correlation has moved from -0.40 to -0.17, meaning they move in opposite directions less often than they have historically.
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Return for Risk
DRN vs. SOXS — Risk / Return Rank
DRN
SOXS
DRN vs. SOXS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Real Estate Bull 3x Shares (DRN) 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.
| DRN | SOXS | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.17 | -0.96 | +1.12 |
Sortino ratioReturn per unit of downside risk | 0.50 | -3.97 | +4.47 |
Omega ratioGain probability vs. loss probability | 1.06 | 0.58 | +0.48 |
Calmar ratioReturn relative to maximum drawdown | 0.29 | -1.00 | +1.29 |
Martin ratioReturn relative to average drawdown | 0.65 | -1.39 | +2.04 |
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
| DRN | SOXS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.17 | -0.96 | +1.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.20 | -0.74 | +0.53 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.08 | -0.79 | +0.70 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.21 | -0.79 | +1.00 |
Drawdowns
DRN vs. SOXS - Drawdown Comparison
The maximum DRN drawdown since its inception was -86.32%, smaller than the maximum SOXS drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for DRN and SOXS.
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Drawdown Indicators
| DRN | SOXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -86.32% | -100.00% | +13.68% |
Max Drawdown (1Y)Largest decline over 1 year | -24.28% | -97.64% | +73.36% |
Max Drawdown (3Y)Largest decline over 3 years | -48.26% | -99.79% | +51.53% |
Max Drawdown (5Y)Largest decline over 5 years | -80.58% | -99.97% | +19.39% |
Max Drawdown (10Y)Largest decline over 10 years | -86.32% | -100.00% | +13.68% |
Current DrawdownCurrent decline from peak | -65.97% | -100.00% | +34.03% |
Average DrawdownAverage peak-to-trough decline | -35.06% | -92.60% | +57.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.89% | 70.48% | -59.59% |
Volatility
DRN vs. SOXS - Volatility Comparison
The current volatility for Direxion Daily Real Estate Bull 3x Shares (DRN) is 11.21%, while Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a volatility of 44.74%. This indicates that DRN 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
| DRN | SOXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.21% | 44.74% | -33.53% |
Volatility (6M)Calculated over the trailing 6-month period | 29.18% | 83.91% | -54.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 40.04% | 102.16% | -62.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 56.66% | 108.22% | -51.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 60.62% | 100.49% | -39.87% |
DRN vs. SOXS - Expense Ratio Comparison
DRN has a 0.99% expense ratio, which is lower than SOXS's 1.08% expense ratio.
Dividends
DRN vs. SOXS - Dividend Comparison
DRN's dividend yield for the trailing twelve months is around 2.23%, less than SOXS's 64.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
DRN Direxion Daily Real Estate Bull 3x Shares | 2.23% | 2.81% | 2.24% | 2.84% | 2.70% | 4.21% | 1.90% | 2.59% | 3.11% | 0.91% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | 64.90% | 10.79% | 5.45% | 9.22% | 0.19% | 0.00% | 3.58% | 2.30% | 0.76% | 0.00% |
Frequently Asked Questions
DRN and SOXS have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXS has higher volatility (44.74%) compared to DRN (11.21%). In terms of maximum drawdown, DRN dropped -86.32% vs SOXS's -100.00%.
On 10-year performance, DRN leads with -5.10% vs -78.81% for SOXS. On fees, DRN is cheaper at 0.99% per year. On volatility, DRN has been the lower-risk option at 11.21%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DRN has performed better with a -5.10% return vs -78.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DRN is cheaper with a 0.99% expense ratio, compared with 1.08% for SOXS.
SOXS has the higher dividend yield at 64.90%, compared with 2.23% for DRN.
DRN is categorized as REIT, while SOXS is Leveraged Equities. DRN tracks MSCI US REIT Index (300%), while SOXS tracks PHLX Semiconductor Index (-300%). Their fees differ too: 0.99% for DRN and 1.08% for SOXS.
DRN currently has the higher Sharpe Ratio (0.17 vs -0.96), 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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