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 -33.88%/yr vs -78.82%/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 -44.59% return, which is significantly higher than SOXS's -91.63% return. Over the past 10 years, ERY has outperformed SOXS with an annualized return of -33.88%, while SOXS has yielded a comparatively lower -78.82% annualized return.
ERY
- 1D
- -0.18%
- 1M
- 1.11%
- YTD
- -44.59%
- 6M
- -42.08%
- 1Y
- -55.06%
- 3Y*
- -28.20%
- 5Y*
- -38.05%
- 10Y*
- -33.88%
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%
ERY vs. SOXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ERY Direxion Daily Energy Bear 2X Shares | -44.59% | -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 | -91.63% | -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 -0.03, 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 | -0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Mar 12, 2010 | 0.42 |
The correlation between ERY and SOXS shifts across timeframes, from -0.03 (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.
| ERY | SOXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.41 | ||
| Sortino ratioReturn per unit of downside risk | +1.43 | ||
| Omega ratioGain probability vs. loss probability | 0.76 | 0.59 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | -0.92 | -1.00 | +0.08 |
| Martin ratioReturn relative to average drawdown | -1.65 | -1.43 | -0.22 |
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
| ERY | SOXS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.36 | -0.96 | -0.41 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.74 | -0.74 | 0.00 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.48 | -0.79 | +0.30 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.55 | -0.79 | +0.24 |
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 | -59.79% | -97.68% | +37.89% |
Max Drawdown (3Y)Largest decline over 3 years | -67.94% | -99.80% | +31.86% |
Max Drawdown (5Y)Largest decline over 5 years | -94.04% | -99.97% | +5.93% |
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 | -96.93% | -92.61% | -4.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.47% | 68.11% | -34.64% |
Volatility
ERY vs. SOXS - Volatility Comparison
The current volatility for Direxion Daily Energy Bear 2X Shares (ERY) is 16.11%, while Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a volatility of 44.24%. 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 | 16.11% | 44.24% | -28.13% |
Volatility (6M)Calculated over the trailing 6-month period | 32.64% | 84.19% | -51.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 40.81% | 102.19% | -61.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 51.89% | 108.21% | -56.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 70.62% | 100.48% | -29.86% |
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 3.75%, less than SOXS's 64.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
ERY Direxion Daily Energy Bear 2X Shares | 3.75% | 3.48% | 4.13% | 4.14% | 0.32% | 0.00% | 0.43% | 1.50% | 0.56% |
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
ERY and SOXS have a correlation of -0.03, 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 ERY (16.11%). In terms of maximum drawdown, ERY dropped -99.99% vs SOXS's -100.00%.
On 10-year performance, ERY leads with -33.88% vs -78.82% for SOXS. On fees, ERY is cheaper at 1.07% per year. On volatility, ERY has been the lower-risk option at 16.11%. 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 -33.88% return vs -78.82%. 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 64.53%, compared with 3.75% 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 (-0.95 vs -1.36), 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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