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 12.98%/yr vs -80.04%/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
Loading charts...
Returns By Period
In the year-to-date period, MEXX achieves a 14.10% return, which is significantly higher than SOXS's -93.03% return.
MEXX
- 1D
- 4.66%
- 1M
- -9.01%
- 6M
- 2.53%
- YTD
- 14.10%
- 1Y
- 74.40%
- 3Y*
- -1.65%
- 5Y*
- 12.98%
- 10Y*
- —
SOXS
- 1D
- -7.96%
- 1M
- -8.28%
- 6M
- -90.39%
- YTD
- -93.03%
- 1Y
- -96.97%
- 3Y*
- -86.16%
- 5Y*
- -80.04%
- 10Y*
- -78.89%
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 | 14.10% | 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 | -93.03% | -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 -0.39, 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 3, 2017 | -0.41 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
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 | +1.92 | ||
| Sortino ratioReturn per unit of downside risk | +4.66 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 0.69 | +0.53 |
| Calmar ratioReturn relative to maximum drawdown | 1.93 | -0.99 | +2.92 |
| Martin ratioReturn relative to average drawdown | 5.06 | -1.43 | +6.49 |
Loading charts...
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.
Loading charts...
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 | -58.49% | -100.00% | +41.51% |
Average DrawdownAverage peak-to-trough decline | -65.42% | -92.63% | +27.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.74% | 67.82% | -53.08% |
Volatility
MEXX vs. SOXS - Volatility Comparison
The current volatility for Direxion Daily MSCI Mexico Bull 3X Shares (MEXX) is 15.65%, while Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a volatility of 60.89%. 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.
Loading charts...
Volatility by Period
| MEXX | SOXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.65% | 60.89% | -45.24% |
Volatility (6M)Calculated over the trailing 6-month period | 54.58% | 108.47% | -53.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 65.07% | 125.43% | -60.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 67.12% | 113.13% | -46.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 74.31% | 102.94% | -28.63% |
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 1.47%, less than SOXS's 53.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
MEXX Direxion Daily MSCI Mexico Bull 3X Shares | 1.47% | 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 | 53.05% | 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 (60.89%) compared to MEXX (15.65%). In terms of maximum drawdown, MEXX dropped -95.58% vs SOXS's -100.00%.
On 5-year performance, MEXX leads with 12.98% vs -80.04% for SOXS. On fees, SOXS is cheaper at 1.08% per year. On volatility, MEXX has been the lower-risk option at 15.65%. 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 12.98% return vs -80.04%. 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 53.05%, compared with 1.47% 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 (1.15 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.
Find the right allocation for MEXX and SOXS
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer