MUD vs. SOXL
MUD (Direxion Daily MU Bear 1X Shares) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both exchange-traded funds - MUD is a Inverse Equities fund actively managed by Direxion, while SOXL is a Leveraged Equities fund tracking the NYSE Semiconductor Index. MUD is actively managed, while SOXL is passively managed. Over the past year, MUD returned -93.05% vs 376.55% for SOXL. Their -0.77 correlation means they have often moved in opposite directions in the past. MUD charges 0.97%/yr vs 0.75%/yr for SOXL.
Performance
MUD vs. SOXL - Performance Comparison
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Returns By Period
In the year-to-date period, MUD achieves a -78.55% return, which is significantly lower than SOXL's 172.95% return.
MUD
- 1D
- 6.00%
- 1M
- 8.32%
- 6M
- -67.47%
- YTD
- -78.55%
- 1Y
- -93.05%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -80.11%
SOXL
- 1D
- 0.00%
- 1M
- -36.78%
- 6M
- 85.66%
- YTD
- 172.95%
- 1Y
- 376.55%
- 3Y*
- 60.01%
- 5Y*
- 21.65%
- 10Y*
- 48.63%
- ALL TIME*
- 38.01%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $167.14M | $177.41M | $197.63M | |
| $10.60B | $10.77B | $11.72B |
MUD vs. SOXL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
MUD Direxion Daily MU Bear 1X Shares | -78.55% | -78.75% | 19.12% |
SOXL Direxion Daily Semiconductor Bull 3X ETF | 172.95% | 54.91% | -29.07% |
Correlation
The correlation between MUD and SOXL is -0.76, 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. | -0.76 |
Correlation (All Time) Calculated using the full available price history since Oct 10, 2024 | -0.77 |
The correlation between MUD and SOXL has been stable across timeframes, ranging from -0.77 to -0.76 - a consistent structural relationship.
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Return for Risk
MUD vs. SOXL — Risk / Return Rank
MUD
SOXL
MUD vs. SOXL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily MU Bear 1X Shares (MUD) and Direxion Daily Semiconductor Bull 3X ETF (SOXL). 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.
| MUD | SOXL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.92 | ||
| Sortino ratioReturn per unit of downside risk | -6.11 | ||
| Omega ratioGain probability vs. loss probability | 0.62 | 1.36 | -0.74 |
| Calmar ratioReturn relative to maximum drawdown | -0.98 | 5.22 | -6.20 |
| Martin ratioReturn relative to average drawdown | -1.30 | 18.04 | -19.34 |
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Drawdowns
MUD vs. SOXL - Drawdown Comparison
The maximum MUD drawdown since its inception was -97.03%, which is greater than SOXL's maximum drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for MUD and SOXL.
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Drawdown Indicators
| MUD | SOXL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -97.03% | -90.46% | -6.57% |
Max Drawdown (1Y)Largest decline over 1 year | -94.76% | -69.42% | -25.34% |
Max Drawdown (3Y)Largest decline over 3 years | — | -87.88% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -90.46% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -90.46% | — |
Current DrawdownCurrent decline from peak | -96.05% | -61.86% | -34.19% |
Average DrawdownAverage peak-to-trough decline | -54.28% | -35.00% | -19.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 71.20% | 20.04% | +51.16% |
Volatility
MUD vs. SOXL - Volatility Comparison
The current volatility for Direxion Daily MU Bear 1X Shares (MUD) is 33.02%, while Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a volatility of 52.68%. This indicates that MUD experiences smaller price fluctuations and is considered to be less risky than SOXL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MUD | SOXL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 33.02% | 52.68% | -19.66% |
Volatility (6M)Calculated over the trailing 6-month period | 70.47% | 115.51% | -45.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 81.16% | 130.99% | -49.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 73.60% | 113.21% | -39.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 73.60% | 102.11% | -28.51% |
MUD vs. SOXL - Expense Ratio Comparison
MUD has a 0.97% expense ratio, which is higher than SOXL's 0.75% expense ratio.
Dividends
MUD vs. SOXL - Dividend Comparison
MUD's dividend yield for the trailing twelve months is around 11.41%, more than SOXL's 0.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
MUD Direxion Daily MU Bear 1X Shares | 11.41% | 9.21% | 0.47% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SOXL Direxion Daily Semiconductor Bull 3X ETF | 0.01% | 0.34% | 1.18% | 0.51% | 1.07% | 0.04% | 0.05% | 0.38% | 1.30% | 0.09% | 4.84% |
Frequently Asked Questions
MUD and SOXL have a correlation of -0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXL has higher volatility (52.68%) compared to MUD (33.02%). In terms of maximum drawdown, MUD dropped -97.03% vs SOXL's -90.46%.
On 1-year performance, SOXL leads with 376.55% vs -93.05% for MUD. On fees, SOXL is cheaper at 0.75% per year. On volatility, MUD has been the lower-risk option at 33.02%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SOXL has performed better with a 376.55% return vs -93.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SOXL is cheaper with a 0.75% expense ratio, compared with 0.97% for MUD.
MUD has the higher dividend yield at 11.41%, compared with 0.01% for SOXL.
MUD is categorized as Inverse Equities, while SOXL is Leveraged Equities. Their fees differ too: 0.97% for MUD and 0.75% for SOXL.
SOXL currently has the higher Sharpe Ratio (2.77 vs -1.15), 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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