INDL vs. SOXS
INDL (Direxion Daily India Bull 3x Shares) and SOXS (Direxion Daily Semiconductor Bear 3x Shares) are both exchange-traded funds - INDL is a Leveraged Equities fund tracking the Indus India Index (300%), while SOXS is a Inverse Equities fund tracking the PHLX Semiconductor Index (-300%). Both are passively managed. Over the past 10 years, INDL returned -1.09%/yr vs -78.28%/yr for SOXS. At a correlation of -0.44, they often move in opposite directions. INDL charges 1.33%/yr vs 1.08%/yr for SOXS.
Performance
INDL vs. SOXS - Performance Comparison
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Returns By Period
In the year-to-date period, INDL achieves a -21.90% return, which is significantly higher than SOXS's -91.07% return. Over the past 10 years, INDL has outperformed SOXS with an annualized return of -1.09%, while SOXS has yielded a comparatively lower -78.28% annualized return.
INDL
- 1D
- 1.10%
- 1M
- -1.17%
- 6M
- -17.95%
- YTD
- -21.90%
- 1Y
- -27.16%
- 3Y*
- -2.12%
- 5Y*
- -1.17%
- 10Y*
- -1.09%
SOXS
- 1D
- 5.44%
- 1M
- 24.40%
- 6M
- -86.63%
- YTD
- -91.07%
- 1Y
- -96.00%
- 3Y*
- -84.58%
- 5Y*
- -79.30%
- 10Y*
- -78.28%
INDL vs. SOXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
INDL Direxion Daily India Bull 3x Shares | -21.90% | -3.21% | 7.56% | 26.06% | -22.88% | 40.26% | -36.43% | 3.15% | -34.29% | 127.98% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | -91.07% | -85.53% | -59.55% | -84.56% | 15.76% | -80.94% | -92.90% | -83.81% | -19.39% | -69.39% |
Correlation
The correlation between INDL and SOXS is -0.29, 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 | -0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.32 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.41 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.41 |
Correlation (All Time) Calculated using the full available price history since Mar 11, 2010 | -0.44 |
The correlation between INDL and SOXS shifts across timeframes, from -0.44 (all time) to -0.29 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
INDL vs. SOXS — Risk / Return Rank
INDL
SOXS
INDL vs. SOXS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily India Bull 3x Shares (INDL) 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.
| INDL | SOXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | +1.32 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 0.72 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | -0.78 | -0.98 | +0.20 |
| Martin ratioReturn relative to average drawdown | -1.58 | -1.40 | -0.18 |
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Drawdowns
INDL vs. SOXS - Drawdown Comparison
The maximum INDL drawdown since its inception was -95.67%, roughly equal to the maximum SOXS drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for INDL and SOXS.
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Drawdown Indicators
| INDL | SOXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.67% | -100.00% | +4.33% |
Max Drawdown (1Y)Largest decline over 1 year | -34.96% | -97.89% | +62.93% |
Max Drawdown (3Y)Largest decline over 3 years | -47.64% | -99.87% | +52.23% |
Max Drawdown (5Y)Largest decline over 5 years | -47.64% | -99.98% | +52.34% |
Max Drawdown (10Y)Largest decline over 10 years | -91.96% | -100.00% | +8.04% |
Current DrawdownCurrent decline from peak | -78.01% | -100.00% | +21.99% |
Average DrawdownAverage peak-to-trough decline | -66.42% | -92.64% | +26.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.95% | 68.63% | -50.68% |
Volatility
INDL vs. SOXS - Volatility Comparison
The current volatility for Direxion Daily India Bull 3x Shares (INDL) is 7.66%, while Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a volatility of 57.60%. This indicates that INDL 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
| INDL | SOXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.66% | 57.60% | -49.94% |
Volatility (6M)Calculated over the trailing 6-month period | 26.22% | 109.97% | -83.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.17% | 126.59% | -96.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.76% | 113.25% | -82.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 52.37% | 103.02% | -50.65% |
INDL vs. SOXS - Expense Ratio Comparison
INDL has a 1.33% expense ratio, which is higher than SOXS's 1.08% expense ratio.
Dividends
INDL vs. SOXS - Dividend Comparison
INDL's dividend yield for the trailing twelve months is around 1.44%, less than SOXS's 41.39% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
INDL Direxion Daily India Bull 3x Shares | 1.44% | 1.42% | 2.79% | 1.65% | 0.09% | 2.35% | 0.00% | 0.68% | 0.18% | 0.31% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | 41.39% | 10.79% | 5.45% | 9.22% | 0.19% | 0.00% | 3.58% | 2.30% | 0.76% | 0.00% |
Frequently Asked Questions
INDL and SOXS have a correlation of -0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXS has higher volatility (57.60%) compared to INDL (7.66%). In terms of maximum drawdown, INDL dropped -95.67% vs SOXS's -100.00%.
On 10-year performance, INDL leads with -1.09% vs -78.28% for SOXS. On fees, SOXS is cheaper at 1.08% per year. On volatility, INDL has been the lower-risk option at 7.66%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, INDL has performed better with a -1.09% return vs -78.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SOXS is cheaper with a 1.08% expense ratio, compared with 1.33% for INDL.
SOXS has the higher dividend yield at 41.39%, compared with 1.44% for INDL.
INDL is categorized as Leveraged Equities, while SOXS is Inverse Equities. INDL tracks Indus India Index (300%), while SOXS tracks PHLX Semiconductor Index (-300%). Their fees differ too: 1.33% for INDL and 1.08% for SOXS.
SOXS currently has the higher Sharpe Ratio (-0.76 vs -0.90), 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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