EURL vs. SOXS
EURL (Direxion Daily FTSE Europe Bull 3x Shares) and SOXS (Direxion Daily Semiconductor Bear 3x Shares) are both exchange-traded funds - EURL is a Leveraged Equities fund tracking the FTSE Developed Europe Index (300%), while SOXS is a Inverse Equities fund tracking the PHLX Semiconductor Index (-300%). Both are passively managed. Over the past 10 years, EURL returned 10.83%/yr vs -78.37%/yr for SOXS. At a correlation of -0.59, they often move in opposite directions. EURL charges 1.07%/yr vs 1.08%/yr for SOXS.
Performance
EURL vs. SOXS - Performance Comparison
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Returns By Period
In the year-to-date period, EURL achieves a 13.55% return, which is significantly higher than SOXS's -91.53% return. Over the past 10 years, EURL has outperformed SOXS with an annualized return of 10.83%, while SOXS has yielded a comparatively lower -78.37% annualized return.
EURL
- 1D
- -0.99%
- 1M
- -1.46%
- 6M
- 4.62%
- YTD
- 13.55%
- 1Y
- 38.77%
- 3Y*
- 28.36%
- 5Y*
- 7.92%
- 10Y*
- 10.83%
SOXS
- 1D
- 13.14%
- 1M
- 13.65%
- 6M
- -87.79%
- YTD
- -91.53%
- 1Y
- -96.24%
- 3Y*
- -84.87%
- 5Y*
- -79.52%
- 10Y*
- -78.37%
EURL vs. SOXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EURL Direxion Daily FTSE Europe Bull 3x Shares | 13.55% | 105.85% | -11.42% | 44.19% | -54.41% | 46.59% | -23.19% | 72.61% | -46.39% | 91.32% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | -91.53% | -85.53% | -59.55% | -84.56% | 15.76% | -80.94% | -92.90% | -83.81% | -19.39% | -69.39% |
Correlation
The correlation between EURL and SOXS is -0.51, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.52 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.59 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.58 |
Correlation (All Time) Calculated using the full available price history since Jan 22, 2014 | -0.59 |
The correlation between EURL and SOXS has been stable across timeframes, ranging from -0.59 to -0.51 - a consistent structural relationship.
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Return for Risk
EURL vs. SOXS — Risk / Return Rank
EURL
SOXS
EURL vs. SOXS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily FTSE Europe Bull 3x Shares (EURL) 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.
| EURL | SOXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.58 | ||
| Sortino ratioReturn per unit of downside risk | +4.04 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 0.72 | +0.45 |
| Calmar ratioReturn relative to maximum drawdown | 1.18 | -0.98 | +2.16 |
| Martin ratioReturn relative to average drawdown | 3.59 | -1.41 | +4.99 |
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Drawdowns
EURL vs. SOXS - Drawdown Comparison
The maximum EURL drawdown since its inception was -84.65%, smaller than the maximum SOXS drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for EURL and SOXS.
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Drawdown Indicators
| EURL | SOXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.65% | -100.00% | +15.35% |
Max Drawdown (1Y)Largest decline over 1 year | -33.05% | -97.89% | +64.84% |
Max Drawdown (3Y)Largest decline over 3 years | -38.81% | -99.87% | +61.06% |
Max Drawdown (5Y)Largest decline over 5 years | -75.24% | -99.98% | +24.74% |
Max Drawdown (10Y)Largest decline over 10 years | -84.65% | -100.00% | +15.35% |
Current DrawdownCurrent decline from peak | -8.90% | -100.00% | +91.10% |
Average DrawdownAverage peak-to-trough decline | -36.72% | -92.63% | +55.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.84% | 68.36% | -57.52% |
Volatility
EURL vs. SOXS - Volatility Comparison
The current volatility for Direxion Daily FTSE Europe Bull 3x Shares (EURL) is 11.29%, while Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a volatility of 59.41%. This indicates that EURL 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
| EURL | SOXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.29% | 59.41% | -48.12% |
Volatility (6M)Calculated over the trailing 6-month period | 41.23% | 109.76% | -68.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 47.79% | 126.44% | -78.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 53.52% | 113.26% | -59.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 54.41% | 103.02% | -48.61% |
EURL vs. SOXS - Expense Ratio Comparison
EURL has a 1.07% expense ratio, which is lower than SOXS's 1.08% expense ratio.
Dividends
EURL vs. SOXS - Dividend Comparison
EURL's dividend yield for the trailing twelve months is around 1.59%, less than SOXS's 43.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
EURL Direxion Daily FTSE Europe Bull 3x Shares | 1.59% | 1.50% | 3.51% | 2.50% | 1.80% | 0.33% | 0.41% | 1.17% | 3.07% | 0.38% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | 43.65% | 10.79% | 5.45% | 9.22% | 0.19% | 0.00% | 3.58% | 2.30% | 0.76% | 0.00% |
Frequently Asked Questions
EURL and SOXS have a correlation of -0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXS has higher volatility (59.41%) compared to EURL (11.29%). In terms of maximum drawdown, EURL dropped -84.65% vs SOXS's -100.00%.
On 10-year performance, EURL leads with 10.83% vs -78.37% for SOXS. On fees, EURL is cheaper at 1.07% per year. On volatility, EURL has been the lower-risk option at 11.29%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, EURL has performed better with a 10.83% return vs -78.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EURL is cheaper with a 1.07% expense ratio, compared with 1.08% for SOXS.
SOXS has the higher dividend yield at 43.65%, compared with 1.59% for EURL.
EURL is categorized as Leveraged Equities, while SOXS is Inverse Equities. EURL tracks FTSE Developed Europe Index (300%), while SOXS tracks PHLX Semiconductor Index (-300%). Their fees differ too: 1.07% for EURL and 1.08% for SOXS.
EURL currently has the higher Sharpe Ratio (0.82 vs -0.76), 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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