MEXX vs. SOXS
MEXX (Direxion Daily MSCI Mexico Bull 3X Shares) and SOXS (Direxion Daily Semiconductor Bear 3x Shares) are both Leveraged Equities funds from Direxion - MEXX tracks the MSCI Mexico IMI 25-50 Net Total Return USD Index (300%) while SOXS tracks the PHLX Semiconductor Index (-300%). Both are passively managed. Over the past 5 years, MEXX returned 15.32%/yr vs -79.66%/yr for SOXS. At a correlation of -0.41, they often move in opposite directions. MEXX charges 1.21%/yr vs 1.08%/yr for SOXS.
Performance
MEXX vs. SOXS - Performance Comparison
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Returns By Period
In the year-to-date period, MEXX achieves a 25.36% return, which is significantly higher than SOXS's -92.10% return.
MEXX
- 1D
- -3.80%
- 1M
- 7.60%
- YTD
- 25.36%
- 6M
- 36.34%
- 1Y
- 90.76%
- 3Y*
- 7.01%
- 5Y*
- 15.32%
- 10Y*
- —
SOXS
- 1D
- -5.03%
- 1M
- -62.97%
- YTD
- -92.10%
- 6M
- -91.70%
- 1Y
- -97.75%
- 3Y*
- -86.64%
- 5Y*
- -79.66%
- 10Y*
- -78.92%
MEXX vs. SOXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MEXX Direxion Daily MSCI Mexico Bull 3X Shares | 25.36% | 181.49% | -73.13% | 115.60% | -12.96% | 52.75% | -53.63% | 21.41% | -51.95% | -13.81% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | -92.10% | -85.53% | -59.55% | -84.56% | 15.76% | -80.94% | -92.90% | -83.81% | -19.39% | -55.56% |
Correlation
The correlation between MEXX and SOXS is -0.39, 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 | -0.39 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.38 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.43 |
Correlation (All Time) Calculated using the full available price history since May 4, 2017 | -0.41 |
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Return for Risk
MEXX vs. SOXS — Risk / Return Rank
MEXX
SOXS
MEXX vs. SOXS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily MSCI Mexico Bull 3X Shares (MEXX) 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.
| MEXX | SOXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.41 | ||
| Sortino ratioReturn per unit of downside risk | +5.96 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 0.58 | +0.67 |
| Calmar ratioReturn relative to maximum drawdown | 2.35 | -1.00 | +3.35 |
| Martin ratioReturn relative to average drawdown | 7.26 | -1.44 | +8.70 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MEXX | SOXS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.45 | -0.96 | +2.41 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.23 | -0.74 | +0.97 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.79 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.07 | -0.79 | +0.72 |
Drawdowns
MEXX vs. SOXS - Drawdown Comparison
The maximum MEXX drawdown since its inception was -95.58%, roughly equal to the maximum SOXS drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for MEXX and SOXS.
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Drawdown Indicators
| MEXX | SOXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.58% | -100.00% | +4.42% |
Max Drawdown (1Y)Largest decline over 1 year | -38.77% | -97.68% | +58.91% |
Max Drawdown (3Y)Largest decline over 3 years | -74.92% | -99.80% | +24.88% |
Max Drawdown (5Y)Largest decline over 5 years | -74.92% | -99.97% | +25.05% |
Max Drawdown (10Y)Largest decline over 10 years | — | -100.00% | — |
Current DrawdownCurrent decline from peak | -54.40% | -100.00% | +45.60% |
Average DrawdownAverage peak-to-trough decline | -65.53% | -92.60% | +27.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.55% | 68.64% | -56.09% |
Volatility
MEXX vs. SOXS - Volatility Comparison
The current volatility for Direxion Daily MSCI Mexico Bull 3X Shares (MEXX) is 16.78%, while Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a volatility of 44.22%. This indicates that MEXX 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
| MEXX | SOXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.78% | 44.22% | -27.44% |
Volatility (6M)Calculated over the trailing 6-month period | 52.51% | 83.94% | -31.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 62.78% | 102.18% | -39.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 66.88% | 108.21% | -41.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 74.43% | 100.48% | -26.05% |
MEXX vs. SOXS - Expense Ratio Comparison
MEXX has a 1.21% expense ratio, which is higher than SOXS's 1.08% expense ratio.
Dividends
MEXX vs. SOXS - Dividend Comparison
MEXX's dividend yield for the trailing twelve months is around 1.27%, less than SOXS's 68.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
MEXX Direxion Daily MSCI Mexico Bull 3X Shares | 1.27% | 1.60% | 5.81% | 1.66% | 1.33% | 0.63% | 0.12% | 1.60% | 5.61% | 0.27% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | 68.34% | 10.79% | 5.45% | 9.22% | 0.19% | 0.00% | 3.58% | 2.30% | 0.76% | 0.00% |
Frequently Asked Questions
MEXX and SOXS have a correlation of -0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXS has higher volatility (44.22%) compared to MEXX (16.78%). In terms of maximum drawdown, MEXX dropped -95.58% vs SOXS's -100.00%.
On 5-year performance, MEXX leads with 15.32% vs -79.66% for SOXS. On fees, SOXS is cheaper at 1.08% per year. On volatility, MEXX has been the lower-risk option at 16.78%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, MEXX has performed better with a 15.32% return vs -79.66%. 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 1.21% for MEXX.
SOXS has the higher dividend yield at 68.34%, compared with 1.27% for MEXX.
MEXX tracks MSCI Mexico IMI 25-50 Net Total Return USD Index (300%), while SOXS tracks PHLX Semiconductor Index (-300%). Their fees differ too: 1.21% for MEXX and 1.08% for SOXS.
MEXX currently has the higher Sharpe Ratio (1.45 vs -0.96), 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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