ERY vs. SOXS
ERY (Direxion Daily Energy Bear 2X Shares) and SOXS (Direxion Daily Semiconductor Bear 3x Shares) are both exchange-traded funds - ERY is a Leveraged Equities fund tracking the Energy Select Sector Index (-300%), while SOXS is a Inverse Equities fund tracking the PHLX Semiconductor Index (-300%). Both are passively managed. Over the past 10 years, ERY returned -33.62%/yr vs -79.95%/yr for SOXS. At a 0.42 correlation, their price movements are largely independent. ERY charges 1.07%/yr vs 1.08%/yr for SOXS.
Performance
ERY vs. SOXS - Performance Comparison
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Returns By Period
In the year-to-date period, ERY achieves a -35.79% return, which is significantly higher than SOXS's -94.09% return. Over the past 10 years, ERY has outperformed SOXS with an annualized return of -33.62%, while SOXS has yielded a comparatively lower -79.95% annualized return.
ERY
- 1D
- -2.10%
- 1M
- 12.20%
- YTD
- -35.79%
- 6M
- -36.68%
- 1Y
- -43.63%
- 3Y*
- -24.59%
- 5Y*
- -35.93%
- 10Y*
- -33.62%
SOXS
- 1D
- -11.03%
- 1M
- -41.63%
- YTD
- -94.09%
- 6M
- -93.81%
- 1Y
- -97.64%
- 3Y*
- -87.76%
- 5Y*
- -80.66%
- 10Y*
- -79.95%
ERY vs. SOXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ERY Direxion Daily Energy Bear 2X Shares | -35.79% | -18.54% | -5.58% | -0.35% | -73.61% | -68.00% | -11.94% | -38.67% | 45.61% | -5.67% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | -94.09% | -85.53% | -59.55% | -84.56% | 15.76% | -80.94% | -92.90% | -83.81% | -19.39% | -69.39% |
Correlation
The correlation between ERY and SOXS is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.20 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since Mar 11, 2010 | 0.42 |
The correlation between ERY and SOXS shifts across timeframes, from -0.01 (1 year) to 0.42 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ERY vs. SOXS — Risk / Return Rank
ERY
SOXS
ERY vs. SOXS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Energy Bear 2X Shares (ERY) 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.
| ERY | SOXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.22 | ||
| Sortino ratioReturn per unit of downside risk | +1.70 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 0.64 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | -0.77 | -1.00 | +0.23 |
| Martin ratioReturn relative to average drawdown | -1.37 | -1.51 | +0.14 |
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Drawdowns
ERY vs. SOXS - Drawdown Comparison
The maximum ERY 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 ERY and SOXS.
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Drawdown Indicators
| ERY | SOXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.99% | -100.00% | +0.01% |
Max Drawdown (1Y)Largest decline over 1 year | -56.88% | -97.88% | +41.00% |
Max Drawdown (3Y)Largest decline over 3 years | -66.61% | -99.87% | +33.26% |
Max Drawdown (5Y)Largest decline over 5 years | -94.04% | -99.98% | +5.94% |
Max Drawdown (10Y)Largest decline over 10 years | -99.66% | -100.00% | +0.34% |
Current DrawdownCurrent decline from peak | -99.99% | -100.00% | +0.01% |
Average DrawdownAverage peak-to-trough decline | -96.91% | -92.61% | -4.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 31.93% | 64.48% | -32.55% |
Volatility
ERY vs. SOXS - Volatility Comparison
The current volatility for Direxion Daily Energy Bear 2X Shares (ERY) is 13.80%, while Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a volatility of 65.23%. This indicates that ERY 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
| ERY | SOXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.80% | 65.23% | -51.43% |
Volatility (6M)Calculated over the trailing 6-month period | 33.50% | 100.97% | -67.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 41.48% | 117.61% | -76.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 51.86% | 111.53% | -59.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 70.53% | 102.14% | -31.61% |
ERY vs. SOXS - Expense Ratio Comparison
ERY has a 1.07% expense ratio, which is lower than SOXS's 1.08% expense ratio.
Dividends
ERY vs. SOXS - Dividend Comparison
ERY's dividend yield for the trailing twelve months is around 2.87%, less than SOXS's 62.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
ERY Direxion Daily Energy Bear 2X Shares | 2.87% | 3.48% | 4.13% | 4.14% | 0.32% | 0.00% | 0.43% | 1.50% | 0.56% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | 62.55% | 10.79% | 5.45% | 9.22% | 0.19% | 0.00% | 3.58% | 2.30% | 0.76% |
Frequently Asked Questions
ERY and SOXS have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXS has higher volatility (65.23%) compared to ERY (13.80%). In terms of maximum drawdown, ERY dropped -99.99% vs SOXS's -100.00%.
On 10-year performance, ERY leads with -33.62% vs -79.95% for SOXS. On fees, ERY is cheaper at 1.07% per year. On volatility, ERY has been the lower-risk option at 13.80%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, ERY has performed better with a -33.62% return vs -79.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ERY is cheaper with a 1.07% expense ratio, compared with 1.08% for SOXS.
SOXS has the higher dividend yield at 62.55%, compared with 2.87% for ERY.
ERY is categorized as Leveraged Equities, while SOXS is Inverse Equities. ERY tracks Energy Select Sector Index (-300%), while SOXS tracks PHLX Semiconductor Index (-300%). Their fees differ too: 1.07% for ERY and 1.08% for SOXS.
SOXS currently has the higher Sharpe Ratio (-0.83 vs -1.06), 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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