DUST vs. SOXL
DUST (Direxion Daily Gold Miners Bear 2X Shares) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both Leveraged Equities funds from Direxion - DUST tracks the NYSE Arca Gold Miners Index (-300%) while SOXL tracks the ICE Semiconductor Index. Both are passively managed. Over the past 10 years, DUST returned -52.03%/yr vs 64.56%/yr for SOXL. At a correlation of -0.16, they often move in opposite directions. DUST charges 1.07%/yr vs 0.75%/yr for SOXL.
Performance
DUST vs. SOXL - Performance Comparison
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Returns By Period
In the year-to-date period, DUST achieves a -17.98% return, which is significantly lower than SOXL's 450.61% return. Over the past 10 years, DUST has underperformed SOXL with an annualized return of -52.03%, while SOXL has yielded a comparatively higher 64.56% annualized return.
DUST
- 1D
- 8.73%
- 1M
- 10.22%
- YTD
- -17.98%
- 6M
- -9.99%
- 1Y
- -73.95%
- 3Y*
- -62.05%
- 5Y*
- -48.30%
- 10Y*
- -52.03%
SOXL
- 1D
- -23.06%
- 1M
- 21.44%
- YTD
- 450.61%
- 6M
- 429.57%
- 1Y
- 976.09%
- 3Y*
- 120.84%
- 5Y*
- 42.16%
- 10Y*
- 64.56%
DUST vs. SOXL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DUST Direxion Daily Gold Miners Bear 2X Shares | -17.98% | -88.72% | -29.51% | -27.63% | -22.70% | -4.82% | -85.75% | -75.11% | -3.27% | -51.00% |
SOXL Direxion Daily Semiconductor Bull 3X ETF | 450.61% | 54.91% | -12.31% | 226.98% | -85.66% | 118.84% | 70.04% | 231.83% | -39.07% | 141.71% |
Correlation
The correlation between DUST and SOXL is -0.32, 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 | -0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.24 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.15 |
Correlation (All Time) Calculated using the full available price history since Dec 8, 2010 | -0.16 |
The correlation between DUST and SOXL shifts across timeframes, from -0.32 (1 year) to -0.15 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
DUST vs. SOXL — Risk / Return Rank
DUST
SOXL
DUST vs. SOXL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Gold Miners Bear 2X Shares (DUST) and Direxion Daily Semiconductor Bull 3X ETF (SOXL). 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.
| DUST | SOXL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -9.23 | ||
| Sortino ratioReturn per unit of downside risk | -5.46 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.58 | -0.73 |
| Calmar ratioReturn relative to maximum drawdown | -0.86 | 22.69 | -23.55 |
| Martin ratioReturn relative to average drawdown | -1.13 | 72.83 | -73.96 |
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Drawdowns
DUST vs. SOXL - Drawdown Comparison
The maximum DUST drawdown since its inception was -100.00%, which is greater than SOXL's maximum drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for DUST and SOXL.
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Drawdown Indicators
| DUST | SOXL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -90.46% | -9.54% |
Max Drawdown (1Y)Largest decline over 1 year | -86.15% | -43.47% | -42.68% |
Max Drawdown (3Y)Largest decline over 3 years | -97.55% | -87.88% | -9.67% |
Max Drawdown (5Y)Largest decline over 5 years | -98.68% | -90.46% | -8.22% |
Max Drawdown (10Y)Largest decline over 10 years | -99.98% | -90.46% | -9.52% |
Current DrawdownCurrent decline from peak | -100.00% | -23.06% | -76.94% |
Average DrawdownAverage peak-to-trough decline | -83.38% | -34.95% | -48.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 65.24% | 13.52% | +51.72% |
Volatility
DUST vs. SOXL - Volatility Comparison
The current volatility for Direxion Daily Gold Miners Bear 2X Shares (DUST) is 34.13%, while Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a volatility of 68.39%. This indicates that DUST experiences smaller price fluctuations and is considered to be less risky than SOXL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DUST | SOXL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 34.13% | 68.39% | -34.26% |
Volatility (6M)Calculated over the trailing 6-month period | 77.03% | 99.84% | -22.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 94.59% | 116.79% | -22.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 73.10% | 110.35% | -37.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 87.25% | 100.62% | -13.37% |
DUST vs. SOXL - Expense Ratio Comparison
DUST has a 1.07% expense ratio, which is higher than SOXL's 0.75% expense ratio.
Dividends
DUST vs. SOXL - Dividend Comparison
DUST's dividend yield for the trailing twelve months is around 7.95%, more than SOXL's 0.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
DUST Direxion Daily Gold Miners Bear 2X Shares | 7.95% | 12.51% | 4.99% | 4.47% | 0.00% | 0.00% | 3.60% | 2.50% | 0.37% | 0.00% | 0.00% |
SOXL Direxion Daily Semiconductor Bull 3X ETF | 0.03% | 0.34% | 1.18% | 0.51% | 1.07% | 0.04% | 0.05% | 0.38% | 1.30% | 0.09% | 4.84% |
Frequently Asked Questions
DUST and SOXL have a correlation of -0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXL has higher volatility (68.39%) compared to DUST (34.13%). In terms of maximum drawdown, DUST dropped -100.00% vs SOXL's -90.46%.
On 10-year performance, SOXL leads with 64.56% vs -52.03% for DUST. On fees, SOXL is cheaper at 0.75% per year. On volatility, DUST has been the lower-risk option at 34.13%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SOXL has performed better with a 64.56% return vs -52.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SOXL is cheaper with a 0.75% expense ratio, compared with 1.07% for DUST.
DUST has the higher dividend yield at 7.95%, compared with 0.03% for SOXL.
DUST tracks NYSE Arca Gold Miners Index (-300%), while SOXL tracks ICE Semiconductor Index. Their fees differ too: 1.07% for DUST and 0.75% for SOXL.
SOXL currently has the higher Sharpe Ratio (8.45 vs -0.78), 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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