EDZ vs. SOXS
EDZ (Direxion Daily Emerging Markets Bear 3X Shares) and SOXS (Direxion Daily Semiconductor Bear 3x Shares) are both Leveraged Equities funds from Direxion - EDZ tracks the MSCI Emerging Markets Index (-300%) while SOXS tracks the PHLX Semiconductor Index (-300%). Both are passively managed. Over the past 10 years, EDZ returned -36.41%/yr vs -78.82%/yr for SOXS. A 0.63 correlation means they provide meaningful diversification when combined. Both charge a 1.08% expense ratio.
Performance
EDZ vs. SOXS - Performance Comparison
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Returns By Period
In the year-to-date period, EDZ achieves a -56.25% return, which is significantly higher than SOXS's -91.63% return. Over the past 10 years, EDZ has outperformed SOXS with an annualized return of -36.41%, while SOXS has yielded a comparatively lower -78.82% annualized return.
EDZ
- 1D
- 3.62%
- 1M
- -18.11%
- YTD
- -56.25%
- 6M
- -58.86%
- 1Y
- -74.18%
- 3Y*
- -48.04%
- 5Y*
- -24.82%
- 10Y*
- -36.41%
SOXS
- 1D
- 5.91%
- 1M
- -54.82%
- YTD
- -91.63%
- 6M
- -91.49%
- 1Y
- -97.52%
- 3Y*
- -86.60%
- 5Y*
- -79.43%
- 10Y*
- -78.82%
EDZ vs. SOXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EDZ Direxion Daily Emerging Markets Bear 3X Shares | -56.25% | -59.30% | -12.71% | -20.28% | 49.27% | -8.69% | -68.79% | -43.01% | 32.87% | -64.12% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | -91.63% | -85.53% | -59.55% | -84.56% | 15.76% | -80.94% | -92.90% | -83.81% | -19.39% | -69.39% |
Correlation
The correlation between EDZ and SOXS is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.63 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Mar 12, 2010 | 0.63 |
The correlation between EDZ and SOXS has been stable across timeframes, ranging from 0.63 to 0.72 - a consistent structural relationship.
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Return for Risk
EDZ vs. SOXS — Risk / Return Rank
EDZ
SOXS
EDZ vs. SOXS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Emerging Markets Bear 3X Shares (EDZ) 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.
| EDZ | SOXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.30 | ||
| Sortino ratioReturn per unit of downside risk | +1.24 | ||
| Omega ratioGain probability vs. loss probability | 0.70 | 0.59 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | -0.98 | -1.00 | +0.02 |
| Martin ratioReturn relative to average drawdown | -1.68 | -1.43 | -0.25 |
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
| EDZ | SOXS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.25 | -0.96 | -0.30 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.44 | -0.74 | +0.30 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.60 | -0.79 | +0.19 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.60 | -0.79 | +0.18 |
Drawdowns
EDZ vs. SOXS - Drawdown Comparison
The maximum EDZ drawdown since its inception was -99.99%, roughly equal to the maximum SOXS drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for EDZ and SOXS.
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Drawdown Indicators
| EDZ | SOXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.99% | -100.00% | +0.01% |
Max Drawdown (1Y)Largest decline over 1 year | -75.74% | -97.68% | +21.94% |
Max Drawdown (3Y)Largest decline over 3 years | -89.69% | -99.80% | +10.11% |
Max Drawdown (5Y)Largest decline over 5 years | -92.33% | -99.97% | +7.64% |
Max Drawdown (10Y)Largest decline over 10 years | -99.11% | -100.00% | +0.89% |
Current DrawdownCurrent decline from peak | -99.99% | -100.00% | +0.01% |
Average DrawdownAverage peak-to-trough decline | -97.73% | -92.61% | -5.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 44.50% | 68.11% | -23.61% |
Volatility
EDZ vs. SOXS - Volatility Comparison
The current volatility for Direxion Daily Emerging Markets Bear 3X Shares (EDZ) is 25.57%, while Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a volatility of 44.24%. This indicates that EDZ 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
| EDZ | SOXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 25.57% | 44.24% | -18.67% |
Volatility (6M)Calculated over the trailing 6-month period | 51.95% | 84.19% | -32.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 59.51% | 102.19% | -42.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 57.00% | 108.21% | -51.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 60.97% | 100.48% | -39.51% |
EDZ vs. SOXS - Expense Ratio Comparison
Both EDZ and SOXS have an expense ratio of 1.08%.
Dividends
EDZ vs. SOXS - Dividend Comparison
EDZ's dividend yield for the trailing twelve months is around 10.10%, less than SOXS's 64.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
EDZ Direxion Daily Emerging Markets Bear 3X Shares | 10.10% | 6.58% | 4.87% | 4.34% | 0.00% | 0.00% | 0.82% | 1.67% | 0.68% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | 64.53% | 10.79% | 5.45% | 9.22% | 0.19% | 0.00% | 3.58% | 2.30% | 0.76% |
Frequently Asked Questions
EDZ and SOXS have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXS has higher volatility (44.24%) compared to EDZ (25.57%). In terms of maximum drawdown, EDZ dropped -99.99% vs SOXS's -100.00%.
On 10-year performance, EDZ leads with -36.41% vs -78.82% for SOXS. Both ETFs have the same 1.08% expense ratio. On volatility, EDZ has been the lower-risk option at 25.57%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, EDZ has performed better with a -36.41% return vs -78.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EDZ and SOXS have the same expense ratio: 1.08% per year.
SOXS has the higher dividend yield at 64.53%, compared with 10.10% for EDZ.
EDZ tracks MSCI Emerging Markets Index (-300%), while SOXS tracks PHLX Semiconductor Index (-300%).
SOXS currently has the higher Sharpe Ratio (-0.95 vs -1.25), 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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