FNGG vs. SOXS
FNGG (Direxion Daily NYSE FANG+ Bull 2X Shares) and SOXS (Direxion Daily Semiconductor Bear 3x Shares) are both exchange-traded funds - FNGG is a Leveraged Equities fund tracking the NYSE FANG+ Index (2x Leveraged), while SOXS is a Inverse Equities fund tracking the PHLX Semiconductor Index (-300%). Both are passively managed. Over the past 3 years, FNGG returned 47.72%/yr vs -85.78%/yr for SOXS. At a correlation of -0.74, they often move in opposite directions. FNGG charges 0.97%/yr vs 1.08%/yr for SOXS.
Performance
FNGG vs. SOXS - Performance Comparison
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Returns By Period
In the year-to-date period, FNGG achieves a 14.01% return, which is significantly higher than SOXS's -92.43% return.
FNGG
- 1D
- -1.75%
- 1M
- 5.15%
- 6M
- 14.11%
- YTD
- 14.01%
- 1Y
- 24.63%
- 3Y*
- 47.72%
- 5Y*
- —
- 10Y*
- —
SOXS
- 1D
- 13.97%
- 1M
- -0.35%
- 6M
- -89.79%
- YTD
- -92.43%
- 1Y
- -96.62%
- 3Y*
- -85.78%
- 5Y*
- -79.45%
- 10Y*
- -78.71%
FNGG vs. SOXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FNGG Direxion Daily NYSE FANG+ Bull 2X Shares | 14.01% | 27.21% | 98.76% | 204.23% | -87.15% | -4.05% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | -92.43% | -85.53% | -59.55% | -84.56% | 15.76% | -51.69% |
Correlation
The correlation between FNGG and SOXS is -0.58, 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 | -0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.69 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2021 | -0.74 |
The correlation between FNGG and SOXS shifts across timeframes, from -0.74 (all time) to -0.58 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FNGG vs. SOXS — Risk / Return Rank
FNGG
SOXS
FNGG vs. SOXS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily NYSE FANG+ Bull 2X Shares (FNGG) 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.
| FNGG | SOXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.34 | ||
| Sortino ratioReturn per unit of downside risk | +3.82 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 0.70 | +0.43 |
| Calmar ratioReturn relative to maximum drawdown | 0.58 | -0.99 | +1.56 |
| Martin ratioReturn relative to average drawdown | 1.44 | -1.43 | +2.87 |
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Drawdowns
FNGG vs. SOXS - Drawdown Comparison
The maximum FNGG drawdown since its inception was -91.33%, smaller than the maximum SOXS drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for FNGG and SOXS.
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Drawdown Indicators
| FNGG | SOXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -91.33% | -100.00% | +8.67% |
Max Drawdown (1Y)Largest decline over 1 year | -43.01% | -97.89% | +54.88% |
Max Drawdown (3Y)Largest decline over 3 years | -47.03% | -99.87% | +52.84% |
Max Drawdown (5Y)Largest decline over 5 years | — | -99.98% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -100.00% | — |
Current DrawdownCurrent decline from peak | -15.68% | -100.00% | +84.32% |
Average DrawdownAverage peak-to-trough decline | -55.17% | -92.63% | +37.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.12% | 67.54% | -50.42% |
Volatility
FNGG vs. SOXS - Volatility Comparison
The current volatility for Direxion Daily NYSE FANG+ Bull 2X Shares (FNGG) is 15.56%, while Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a volatility of 66.39%. This indicates that FNGG 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
| FNGG | SOXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.56% | 66.39% | -50.83% |
Volatility (6M)Calculated over the trailing 6-month period | 35.05% | 108.48% | -73.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.33% | 125.48% | -82.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 67.49% | 113.09% | -45.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 67.49% | 102.91% | -35.42% |
FNGG vs. SOXS - Expense Ratio Comparison
FNGG has a 0.97% expense ratio, which is lower than SOXS's 1.08% expense ratio.
Dividends
FNGG vs. SOXS - Dividend Comparison
FNGG's dividend yield for the trailing twelve months is around 10.44%, less than SOXS's 48.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
FNGG Direxion Daily NYSE FANG+ Bull 2X Shares | 10.44% | 11.89% | 0.79% | 0.88% | 0.00% | 4.99% | 0.00% | 0.00% | 0.00% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | 48.83% | 10.79% | 5.45% | 9.22% | 0.19% | 0.00% | 3.58% | 2.30% | 0.76% |
Frequently Asked Questions
FNGG and SOXS have a correlation of -0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXS has higher volatility (66.39%) compared to FNGG (15.56%). In terms of maximum drawdown, FNGG dropped -91.33% vs SOXS's -100.00%.
On 3-year performance, FNGG leads with 47.72% vs -85.78% for SOXS. On fees, FNGG is cheaper at 0.97% per year. On volatility, FNGG has been the lower-risk option at 15.56%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, FNGG has performed better with a 47.72% return vs -85.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FNGG is cheaper with a 0.97% expense ratio, compared with 1.08% for SOXS.
SOXS has the higher dividend yield at 48.83%, compared with 10.44% for FNGG.
FNGG is categorized as Leveraged Equities, while SOXS is Inverse Equities. FNGG tracks NYSE FANG+ Index (2x Leveraged), while SOXS tracks PHLX Semiconductor Index (-300%). Their fees differ too: 0.97% for FNGG and 1.08% for SOXS.
FNGG currently has the higher Sharpe Ratio (0.57 vs -0.77), 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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