MUD vs. SOXS
MUD (Direxion Daily MU Bear 1X Shares) and SOXS (Direxion Daily Semiconductor Bear 3x Shares) are both exchange-traded funds - MUD is a Inverse Equities fund actively managed by Direxion, while SOXS is a Leveraged Equities fund tracking the PHLX Semiconductor Index (-300%). MUD is actively managed, while SOXS is passively managed. Over the past year, MUD returned -93.62% vs -97.75% for SOXS. A 0.74 correlation means they provide meaningful diversification when combined. MUD charges 0.97%/yr vs 1.08%/yr for SOXS.
Performance
MUD vs. SOXS - Performance Comparison
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Returns By Period
In the year-to-date period, MUD achieves a -79.58% return, which is significantly higher than SOXS's -92.10% return.
MUD
- 1D
- -1.42%
- 1M
- -51.85%
- YTD
- -79.58%
- 6M
- -83.74%
- 1Y
- -93.62%
- 3Y*
- —
- 5Y*
- —
- 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%
MUD vs. SOXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
MUD Direxion Daily MU Bear 1X Shares | -79.58% | -78.75% | 19.12% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | -92.10% | -85.53% | 17.36% |
Correlation
The correlation between MUD and SOXS is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Oct 11, 2024 | 0.74 |
The correlation between MUD and SOXS has been stable across timeframes, ranging from 0.68 to 0.74 - a consistent structural relationship.
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Return for Risk
MUD vs. SOXS — Risk / Return Rank
MUD
SOXS
MUD vs. SOXS - 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 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.
| MUD | SOXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.46 | ||
| Sortino ratioReturn per unit of downside risk | -0.43 | ||
| Omega ratioGain probability vs. loss probability | 0.53 | 0.58 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | -1.00 | -1.00 | 0.00 |
| Martin ratioReturn relative to average drawdown | -1.52 | -1.44 | -0.08 |
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
| MUD | SOXS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.42 | -0.96 | -0.46 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.74 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.79 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -1.25 | -0.79 | -0.46 |
Drawdowns
MUD vs. SOXS - Drawdown Comparison
The maximum MUD drawdown since its inception was -96.24%, roughly equal to the maximum SOXS drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for MUD and SOXS.
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Drawdown Indicators
| MUD | SOXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.24% | -100.00% | +3.76% |
Max Drawdown (1Y)Largest decline over 1 year | -93.56% | -97.68% | +4.12% |
Max Drawdown (3Y)Largest decline over 3 years | — | -99.80% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -99.97% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -100.00% | — |
Current DrawdownCurrent decline from peak | -96.24% | -100.00% | +3.76% |
Average DrawdownAverage peak-to-trough decline | -50.32% | -92.60% | +42.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 61.84% | 68.64% | -6.80% |
Volatility
MUD vs. SOXS - Volatility Comparison
The current volatility for Direxion Daily MU Bear 1X Shares (MUD) is 31.94%, while Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a volatility of 44.22%. This indicates that MUD 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
| MUD | SOXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 31.94% | 44.22% | -12.28% |
Volatility (6M)Calculated over the trailing 6-month period | 56.32% | 83.94% | -27.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 65.98% | 102.18% | -36.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 67.05% | 108.21% | -41.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 67.05% | 100.48% | -33.43% |
MUD vs. SOXS - Expense Ratio Comparison
MUD has a 0.97% expense ratio, which is lower than SOXS's 1.08% expense ratio.
Dividends
MUD vs. SOXS - Dividend Comparison
MUD's dividend yield for the trailing twelve months is around 28.85%, less than SOXS's 68.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
MUD Direxion Daily MU Bear 1X Shares | 28.85% | 9.21% | 0.47% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
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% |
Frequently Asked Questions
MUD and SOXS have a correlation of 0.68, 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 MUD (31.94%). In terms of maximum drawdown, MUD dropped -96.24% vs SOXS's -100.00%.
On 1-year performance, MUD leads with -93.62% vs -97.75% for SOXS. On fees, MUD is cheaper at 0.97% per year. On volatility, MUD has been the lower-risk option at 31.94%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, MUD has performed better with a -93.62% return vs -97.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MUD is cheaper with a 0.97% expense ratio, compared with 1.08% for SOXS.
SOXS has the higher dividend yield at 68.34%, compared with 28.85% for MUD.
MUD is categorized as Inverse Equities, while SOXS is Leveraged Equities. Their fees differ too: 0.97% for MUD and 1.08% for SOXS.
SOXS currently has the higher Sharpe Ratio (-0.96 vs -1.42), 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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