MSFU vs. SOXS
MSFU (Direxion Daily MSFT Bull 2X Shares) and SOXS (Direxion Daily Semiconductor Bear 3x Shares) are both exchange-traded funds - MSFU is a Leveraged Equities fund tracking the Microsoft Corporation (200%), while SOXS is a Inverse Equities fund tracking the PHLX Semiconductor Index (-300%). Both are passively managed. Over the past 3 years, MSFU returned -6.44%/yr vs -84.87%/yr for SOXS. At a correlation of -0.45, they often move in opposite directions. MSFU charges 0.98%/yr vs 1.08%/yr for SOXS.
Performance
MSFU vs. SOXS - Performance Comparison
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Returns By Period
In the year-to-date period, MSFU achieves a -38.01% return, which is significantly higher than SOXS's -91.53% return.
MSFU
- 1D
- 2.79%
- 1M
- 1.71%
- 6M
- -30.22%
- YTD
- -38.01%
- 1Y
- -46.61%
- 3Y*
- -6.44%
- 5Y*
- —
- 10Y*
- —
SOXS
- 1D
- 13.14%
- 1M
- 13.65%
- 6M
- -87.79%
- YTD
- -91.53%
- 1Y
- -96.24%
- 3Y*
- -84.87%
- 5Y*
- -79.52%
- 10Y*
- -78.37%
MSFU vs. SOXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
MSFU Direxion Daily MSFT Bull 2X Shares | -38.01% | 13.36% | 5.80% | 83.04% | -13.28% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | -91.53% | -85.53% | -59.55% | -84.56% | -26.76% |
Correlation
The correlation between MSFU and SOXS is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.37 |
Correlation (All Time) Calculated using the full available price history since Sep 7, 2022 | -0.45 |
Over the past year, the inverse relationship between MSFU and SOXS has weakened: their correlation has moved from -0.45 to -0.06, meaning they move in opposite directions less often than they have historically.
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Return for Risk
MSFU vs. SOXS — Risk / Return Rank
MSFU
SOXS
MSFU vs. SOXS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily MSFT Bull 2X Shares (MSFU) 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.
| MSFU | SOXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.10 | ||
| Sortino ratioReturn per unit of downside risk | +1.50 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 0.72 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | -0.75 | -0.98 | +0.23 |
| Martin ratioReturn relative to average drawdown | -1.29 | -1.41 | +0.11 |
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Drawdowns
MSFU vs. SOXS - Drawdown Comparison
The maximum MSFU drawdown since its inception was -62.43%, smaller than the maximum SOXS drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for MSFU and SOXS.
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Drawdown Indicators
| MSFU | SOXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.43% | -100.00% | +37.57% |
Max Drawdown (1Y)Largest decline over 1 year | -62.43% | -97.89% | +35.46% |
Max Drawdown (3Y)Largest decline over 3 years | -62.43% | -99.87% | +37.44% |
Max Drawdown (5Y)Largest decline over 5 years | — | -99.98% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -100.00% | — |
Current DrawdownCurrent decline from peak | -52.02% | -100.00% | +47.98% |
Average DrawdownAverage peak-to-trough decline | -17.63% | -92.63% | +75.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 36.09% | 68.36% | -32.27% |
Volatility
MSFU vs. SOXS - Volatility Comparison
The current volatility for Direxion Daily MSFT Bull 2X Shares (MSFU) is 21.06%, while Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a volatility of 59.41%. This indicates that MSFU 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
| MSFU | SOXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.06% | 59.41% | -38.35% |
Volatility (6M)Calculated over the trailing 6-month period | 49.29% | 109.76% | -60.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 54.44% | 126.44% | -72.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.07% | 113.26% | -66.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 47.07% | 103.02% | -55.95% |
MSFU vs. SOXS - Expense Ratio Comparison
MSFU has a 0.98% expense ratio, which is lower than SOXS's 1.08% expense ratio.
Dividends
MSFU vs. SOXS - Dividend Comparison
MSFU's dividend yield for the trailing twelve months is around 11.94%, less than SOXS's 43.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
MSFU Direxion Daily MSFT Bull 2X Shares | 11.94% | 8.15% | 7.00% | 2.11% | 0.54% | 0.00% | 0.00% | 0.00% | 0.00% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | 43.65% | 10.79% | 5.45% | 9.22% | 0.19% | 0.00% | 3.58% | 2.30% | 0.76% |
Frequently Asked Questions
MSFU and SOXS have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXS has higher volatility (59.41%) compared to MSFU (21.06%). In terms of maximum drawdown, MSFU dropped -62.43% vs SOXS's -100.00%.
On 3-year performance, MSFU leads with -6.44% vs -84.87% for SOXS. On fees, MSFU is cheaper at 0.98% per year. On volatility, MSFU has been the lower-risk option at 21.06%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, MSFU has performed better with a -6.44% return vs -84.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MSFU is cheaper with a 0.98% expense ratio, compared with 1.08% for SOXS.
SOXS has the higher dividend yield at 43.65%, compared with 11.94% for MSFU.
MSFU is categorized as Leveraged Equities, while SOXS is Inverse Equities. MSFU tracks Microsoft Corporation (200%), while SOXS tracks PHLX Semiconductor Index (-300%). Their fees differ too: 0.98% for MSFU and 1.08% for SOXS.
SOXS currently has the higher Sharpe Ratio (-0.76 vs -0.86), 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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