DUST vs. SOXS
DUST (Direxion Daily Gold Miners Bear 2X Shares) and SOXS (Direxion Daily Semiconductor Bear 3x Shares) are both exchange-traded funds - DUST is a Leveraged Equities fund tracking the NYSE Arca Gold Miners Index (-300%), while SOXS is a Inverse Equities fund tracking the PHLX Semiconductor Index (-300%). Both are passively managed. Over the past 10 years, DUST returned -52.03%/yr vs -79.54%/yr for SOXS. At a 0.16 correlation, their price movements are largely independent. DUST charges 1.07%/yr vs 1.08%/yr for SOXS.
Performance
DUST vs. SOXS - Performance Comparison
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Returns By Period
In the year-to-date period, DUST achieves a -17.98% return, which is significantly higher than SOXS's -93.50% return. Over the past 10 years, DUST has outperformed SOXS with an annualized return of -52.03%, while SOXS has yielded a comparatively lower -79.54% 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%
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%
DUST vs. SOXS - 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% |
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 DUST and SOXS is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.33 |
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 SOXS shifts across timeframes, from 0.15 (10 years) to 0.33 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
DUST vs. SOXS — Risk / Return Rank
DUST
SOXS
DUST vs. SOXS - 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 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.
| DUST | SOXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.05 | ||
| Sortino ratioReturn per unit of downside risk | +1.98 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 0.63 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | -0.86 | -1.00 | +0.14 |
| Martin ratioReturn relative to average drawdown | -1.13 | -1.51 | +0.38 |
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Drawdowns
DUST vs. SOXS - Drawdown Comparison
The maximum DUST drawdown since its inception was -100.00%, roughly equal to the maximum SOXS drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for DUST and SOXS.
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Drawdown Indicators
| DUST | SOXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -100.00% | 0.00% |
Max Drawdown (1Y)Largest decline over 1 year | -86.15% | -97.94% | +11.79% |
Max Drawdown (3Y)Largest decline over 3 years | -97.55% | -99.87% | +2.32% |
Max Drawdown (5Y)Largest decline over 5 years | -98.68% | -99.98% | +1.30% |
Max Drawdown (10Y)Largest decline over 10 years | -99.98% | -100.00% | +0.02% |
Current DrawdownCurrent decline from peak | -100.00% | -100.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -83.38% | -92.61% | +9.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 65.24% | 67.48% | -2.24% |
Volatility
DUST vs. SOXS - Volatility Comparison
The current volatility for Direxion Daily Gold Miners Bear 2X Shares (DUST) is 34.13%, while Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a volatility of 66.67%. This indicates that DUST 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
| DUST | SOXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 34.13% | 66.67% | -32.54% |
Volatility (6M)Calculated over the trailing 6-month period | 77.03% | 100.39% | -23.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 94.59% | 117.32% | -22.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 73.10% | 111.39% | -38.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 87.25% | 102.09% | -14.84% |
DUST vs. SOXS - Expense Ratio Comparison
DUST has a 1.07% expense ratio, which is lower than SOXS's 1.08% expense ratio.
Dividends
DUST vs. SOXS - Dividend Comparison
DUST's dividend yield for the trailing twelve months is around 7.95%, less than SOXS's 83.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
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% |
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% |
Frequently Asked Questions
DUST and SOXS have a correlation of 0.33, 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 DUST (34.13%). In terms of maximum drawdown, DUST dropped -100.00% vs SOXS's -100.00%.
On 10-year performance, DUST leads with -52.03% vs -79.54% for SOXS. On fees, DUST is cheaper at 1.07% 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, DUST has performed better with a -52.03% return vs -79.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DUST is cheaper with a 1.07% expense ratio, compared with 1.08% for SOXS.
SOXS has the higher dividend yield at 83.05%, compared with 7.95% for DUST.
DUST is categorized as Leveraged Equities, while SOXS is Inverse Equities. DUST tracks NYSE Arca Gold Miners Index (-300%), while SOXS tracks PHLX Semiconductor Index (-300%). Their fees differ too: 1.07% for DUST and 1.08% for SOXS.
DUST currently has the higher Sharpe Ratio (-0.78 vs -0.83), 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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