MEXX vs. SOXS
MEXX (Direxion Daily MSCI Mexico Bull 3X Shares) and SOXS (Direxion Daily Semiconductor Bear 3x Shares) are both exchange-traded funds - MEXX is a Leveraged Equities fund tracking the MSCI Mexico IMI 25-50 Net Total Return USD Index (300%), while SOXS is a Inverse Equities fund tracking the PHLX Semiconductor Index (-300%). Both are passively managed. Over the past 5 years, MEXX returned 13.32%/yr vs -79.23%/yr for SOXS. Their -0.41 correlation means they have often moved in opposite directions in the past. 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 20.88% return, which is significantly higher than SOXS's -93.11% return.
MEXX
- 1D
- 1.77%
- 1M
- 4.39%
- 6M
- -14.98%
- YTD
- 20.88%
- 1Y
- 90.68%
- 3Y*
- 2.34%
- 5Y*
- 13.32%
- 10Y*
- —
- ALL TIME*
- -5.35%
SOXS
- 1D
- -20.25%
- 1M
- -6.14%
- 6M
- -89.05%
- YTD
- -93.11%
- 1Y
- -97.13%
- 3Y*
- -86.28%
- 5Y*
- -79.23%
- 10Y*
- -78.44%
- ALL TIME*
- -71.23%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $356.64K | $322.08K | $550.62K | |
| $3.85B | $3.40B | $3.36B |
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 | 20.88% | 181.49% | -73.13% | 115.60% | -12.96% | 52.75% | -53.63% | 21.41% | -51.95% | -15.26% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | -93.11% | -85.53% | -59.55% | -84.56% | 15.76% | -80.94% | -92.90% | -83.81% | -19.39% | -56.06% |
Correlation
The correlation between MEXX and SOXS is -0.42, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.42 |
Correlation (3Y) Balances recent behavior with more history. | -0.38 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.43 |
Correlation (All Time) Calculated using the full available price history since May 3, 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.
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.
| MEXX | SOXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.13 | ||
| Sortino ratioReturn per unit of downside risk | +4.60 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 0.72 | +0.53 |
| Calmar ratioReturn relative to maximum drawdown | 2.35 | -0.99 | +3.34 |
| Martin ratioReturn relative to average drawdown | 5.72 | -1.35 | +7.07 |
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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% | -97.89% | +59.12% |
Max Drawdown (3Y)Largest decline over 3 years | -74.92% | -99.87% | +24.95% |
Max Drawdown (5Y)Largest decline over 5 years | -74.92% | -99.98% | +25.06% |
Max Drawdown (10Y)Largest decline over 10 years | — | -100.00% | — |
Current DrawdownCurrent decline from peak | -56.03% | -100.00% | +43.97% |
Average DrawdownAverage peak-to-trough decline | -65.37% | -92.66% | +27.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.90% | 71.79% | -55.89% |
Volatility
MEXX vs. SOXS - Volatility Comparison
The current volatility for Direxion Daily MSCI Mexico Bull 3X Shares (MEXX) is 14.88%, while Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a volatility of 57.90%. 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 | 14.88% | 57.90% | -43.02% |
Volatility (6M)Calculated over the trailing 6-month period | 53.04% | 118.41% | -65.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 64.99% | 133.78% | -68.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 66.99% | 114.93% | -47.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 74.18% | 103.97% | -29.79% |
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 1.39%, less than SOXS's 53.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
MEXX Direxion Daily MSCI Mexico Bull 3X Shares | 1.39% | 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 | 53.64% | 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 -0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXS has higher volatility (57.90%) compared to MEXX (14.88%). In terms of maximum drawdown, MEXX dropped -95.58% vs SOXS's -100.00%.
On 5-year performance, MEXX leads with 13.32% vs -79.23% for SOXS. On fees, SOXS is cheaper at 1.08% per year. On volatility, MEXX has been the lower-risk option at 14.88%. 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 13.32% return vs -79.23%. 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 53.64%, compared with 1.39% for MEXX.
MEXX is categorized as Leveraged Equities, while SOXS is Inverse Equities. 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 (1.40 vs -0.73), 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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