FTXL vs. SOXS
FTXL (First Trust Nasdaq Semiconductor ETF) and SOXS (Direxion Daily Semiconductor Bear 3x Shares) are both exchange-traded funds - FTXL is a Semiconductors fund tracking the Nasdaq U.S. Smart Semiconductor Index, while SOXS is a Inverse Equities fund tracking the PHLX Semiconductor Index (-300%). Both are passively managed. Over the past 5 years, FTXL returned 35.80%/yr vs -81.08%/yr for SOXS. At a correlation of -0.96, they often move in opposite directions. FTXL charges 0.60%/yr vs 1.08%/yr for SOXS.
Performance
FTXL vs. SOXS - Performance Comparison
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Returns By Period
In the year-to-date period, FTXL achieves a 123.28% return, which is significantly higher than SOXS's -94.22% return.
FTXL
- 1D
- 6.79%
- 1M
- 25.84%
- YTD
- 123.28%
- 6M
- 131.16%
- 1Y
- 215.97%
- 3Y*
- 60.67%
- 5Y*
- 35.80%
- 10Y*
- —
SOXS
- 1D
- -19.51%
- 1M
- -63.85%
- YTD
- -94.22%
- 6M
- -94.73%
- 1Y
- -98.01%
- 3Y*
- -87.35%
- 5Y*
- -81.08%
- 10Y*
- -79.63%
FTXL vs. SOXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FTXL First Trust Nasdaq Semiconductor ETF | 123.28% | 48.94% | 7.59% | 54.41% | -33.88% | 36.04% | 46.08% | 61.77% | -14.47% | 32.19% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | -94.22% | -85.53% | -59.55% | -84.56% | 15.76% | -80.94% | -92.90% | -83.81% | -19.39% | -69.39% |
Correlation
The correlation between FTXL and SOXS is -0.98, 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 | -0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.97 |
Correlation (All Time) Calculated using the full available price history since Sep 21, 2016 | -0.96 |
The correlation between FTXL and SOXS has been stable across timeframes, ranging from -0.98 to -0.96 - a consistent structural relationship.
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Return for Risk
FTXL vs. SOXS — Risk / Return Rank
FTXL
SOXS
FTXL vs. SOXS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Nasdaq Semiconductor ETF (FTXL) 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.
| FTXL | SOXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +6.29 | ||
| Sortino ratioReturn per unit of downside risk | +8.50 | ||
| Omega ratioGain probability vs. loss probability | 1.69 | 0.61 | +1.07 |
| Calmar ratioReturn relative to maximum drawdown | 14.98 | -1.00 | +15.98 |
| Martin ratioReturn relative to average drawdown | 52.24 | -1.45 | +53.69 |
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Drawdowns
FTXL vs. SOXS - Drawdown Comparison
The maximum FTXL drawdown since its inception was -43.87%, smaller than the maximum SOXS drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for FTXL and SOXS.
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Drawdown Indicators
| FTXL | SOXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.87% | -100.00% | +56.13% |
Max Drawdown (1Y)Largest decline over 1 year | -14.51% | -98.05% | +83.54% |
Max Drawdown (3Y)Largest decline over 3 years | -41.57% | -99.86% | +58.29% |
Max Drawdown (5Y)Largest decline over 5 years | -43.87% | -99.98% | +56.11% |
Max Drawdown (10Y)Largest decline over 10 years | — | -100.00% | — |
Current DrawdownCurrent decline from peak | 0.00% | -100.00% | +100.00% |
Average DrawdownAverage peak-to-trough decline | -10.53% | -92.60% | +82.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.15% | 67.35% | -63.20% |
Volatility
FTXL vs. SOXS - Volatility Comparison
The current volatility for First Trust Nasdaq Semiconductor ETF (FTXL) is 20.88%, while Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a volatility of 62.68%. This indicates that FTXL 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
| FTXL | SOXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 20.88% | 62.68% | -41.80% |
Volatility (6M)Calculated over the trailing 6-month period | 33.69% | 98.59% | -64.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.97% | 114.74% | -74.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.90% | 110.83% | -73.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.67% | 101.93% | -67.26% |
FTXL vs. SOXS - Expense Ratio Comparison
FTXL has a 0.60% expense ratio, which is lower than SOXS's 1.08% expense ratio.
Dividends
FTXL vs. SOXS - Dividend Comparison
FTXL's dividend yield for the trailing twelve months is around 0.12%, less than SOXS's 93.47% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
FTXL First Trust Nasdaq Semiconductor ETF | 0.12% | 0.28% | 0.54% | 0.60% | 0.89% | 0.25% | 0.48% | 0.92% | 0.71% | 0.47% | 0.12% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | 93.47% | 10.79% | 5.45% | 9.22% | 0.19% | 0.00% | 3.58% | 2.30% | 0.76% | 0.00% | 0.00% |
Frequently Asked Questions
FTXL and SOXS have a correlation of -0.98, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXS has higher volatility (62.68%) compared to FTXL (20.88%). In terms of maximum drawdown, FTXL dropped -43.87% vs SOXS's -100.00%.
On 5-year performance, FTXL leads with 35.80% vs -81.08% for SOXS. On fees, FTXL is cheaper at 0.60% per year. On volatility, FTXL has been the lower-risk option at 20.88%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FTXL has performed better with a 35.80% return vs -81.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FTXL is cheaper with a 0.60% expense ratio, compared with 1.08% for SOXS.
SOXS has the higher dividend yield at 93.47%, compared with 0.12% for FTXL.
FTXL is categorized as Semiconductors, while SOXS is Inverse Equities. FTXL tracks Nasdaq U.S. Smart Semiconductor Index, while SOXS tracks PHLX Semiconductor Index (-300%). They also come from different issuers: First Trust and Direxion. Their fees differ too: 0.60% for FTXL and 1.08% for SOXS.
FTXL currently has the higher Sharpe Ratio (5.44 vs -0.85), 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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