ERY vs. SOXS

Last updated Apr 2, 2026

Compare and contrast key facts about Direxion Daily Energy Bear 2X Shares (ERY) and Direxion Daily Semiconductor Bear 3x Shares (SOXS).

ERY and SOXS are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ERY is a passively managed fund by Direxion that tracks the performance of the Energy Select Sector Index (-300%). It was launched on Apr 1, 2020. SOXS is a passively managed fund by Direxion that tracks the performance of the PHLX Semiconductor Index (-300%). It was launched on Mar 11, 2010. Both ERY and SOXS are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

ERY vs. SOXS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Energy Bear 2X Shares (ERY) and Direxion Daily Semiconductor Bear 3x Shares (SOXS). The values are adjusted to include any dividend payments, if applicable.

ERY vs. SOXS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ERY Direxion Daily Energy Bear 2X Shares	-44.19%	-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	-41.64%	-85.53%	-59.55%	-84.56%	15.76%	-80.94%	-92.90%	-83.81%	-19.39%	-69.39%

Returns By Period

In the year-to-date period, ERY achieves a -44.19% return, which is significantly lower than SOXS's -41.64% return. Over the past 10 years, ERY has outperformed SOXS with an annualized return of -36.24%, while SOXS has yielded a comparatively lower -74.65% annualized return.

ERY

• 1D: 7.30%
• 1M: -8.10%
• YTD: -44.19%
• 6M: -44.94%
• 1Y: -44.52%
• 3Y*: -26.22%
• 5Y*: -40.95%
• 10Y*: -36.24%

SOXS

• 1D: -9.03%
• 1M: 2.04%
• YTD: -41.64%
• 6M: -62.23%
• 1Y: -93.50%
• 3Y*: -76.69%
• 5Y*: -70.08%
• 10Y*: -74.65%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ERY vs. SOXS - Expense Ratio Comparison

ERY has a 1.07% expense ratio, which is lower than SOXS's 1.08% expense ratio.

SOXS

Direxion Daily Semiconductor Bear 3x Shares

ERY

Direxion Daily Energy Bear 2X Shares

Return for Risk

ERY vs. SOXS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ERY

ERY Risk / Return Rank: 1
ERY Sharpe Ratio Rank: 1
ERY Sortino Ratio Rank: 1
ERY Omega Ratio Rank: 1
ERY Calmar Ratio Rank: 2
ERY Martin Ratio Rank: 2

SOXS

SOXS Risk / Return Rank: 1
SOXS Sharpe Ratio Rank: 1
SOXS Sortino Ratio Rank: 0
SOXS Omega Ratio Rank: 0
SOXS Calmar Ratio Rank: 0
SOXS Martin Ratio Rank: 3

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

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 ratio Return per unit of total volatility	-0.90	-0.78	-0.12
Sortino ratio Return per unit of downside risk	-1.40	-2.06	+0.65
Omega ratio Gain probability vs. loss probability	0.84	0.74	+0.11
Calmar ratio Return relative to maximum drawdown	-0.68	-0.97	+0.28
Martin ratio Return relative to average drawdown	-1.32	-1.09	-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.

ERY vs. SOXS - Sharpe Ratio Comparison

The current ERY Sharpe Ratio is -0.90, which is comparable to the SOXS Sharpe Ratio of -0.78. The chart below compares the historical Sharpe Ratios of ERY and SOXS, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ERY	SOXS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.90	-0.78	-0.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.79	-0.66	-0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.51	-0.75	+0.24
Sharpe Ratio (All Time) Calculated using the full available price history	-0.55	-0.76	+0.21

Correlation

The correlation between ERY and SOXS is 0.43, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

ERY vs. SOXS - Dividend Comparison

ERY's dividend yield for the trailing twelve months is around 3.73%, less than SOXS's 9.25% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018
ERY Direxion Daily Energy Bear 2X Shares	3.73%	3.48%	4.13%	4.14%	0.32%	0.00%	0.43%	1.50%	0.56%
SOXS Direxion Daily Semiconductor Bear 3x Shares	9.25%	10.79%	5.45%	9.22%	0.19%	0.00%	3.58%	2.30%	0.76%

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.

Drawdown Indicators

	ERY	SOXS	Difference
Max Drawdown Largest peak-to-trough decline	-99.99%	-100.00%	+0.01%
Max Drawdown (1Y) Largest decline over 1 year	-65.95%	-96.52%	+30.57%
Max Drawdown (5Y) Largest decline over 5 years	-94.36%	-99.85%	+5.49%
Max Drawdown (10Y) Largest decline over 10 years	-99.66%	-100.00%	+0.34%
Current Drawdown Current decline from peak	-99.99%	-100.00%	+0.01%
Average Drawdown Average peak-to-trough decline	-96.89%	-92.53%	-4.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	34.29%	85.61%	-51.32%

Volatility

ERY vs. SOXS - Volatility Comparison

The current volatility for Direxion Daily Energy Bear 2X Shares (ERY) is 12.55%, while Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a volatility of 39.00%. 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.

Volatility by Period

	ERY	SOXS	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.55%	39.00%	-26.45%
Volatility (6M) Calculated over the trailing 6-month period	28.79%	79.00%	-50.21%
Volatility (1Y) Calculated over the trailing 1-year period	49.79%	120.15%	-70.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	52.11%	106.42%	-54.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	70.72%	99.19%	-28.47%