NUGT vs. SOXS
NUGT (Direxion Daily Gold Miners Index Bull 2X ETF) and SOXS (Direxion Daily Semiconductor Bear 3x Shares) are both exchange-traded funds - NUGT is a Gold fund tracking the MarketVector Global Gold Miners Index (200%), while SOXS is a Inverse Equities fund tracking the PHLX Semiconductor Index (-300%). Both are passively managed. Over the past 10 years, NUGT returned -14.42%/yr vs -78.44%/yr for SOXS. Their -0.16 correlation means they have often moved in opposite directions in the past. NUGT charges 1.13%/yr vs 1.08%/yr for SOXS.
Performance
NUGT vs. SOXS - Performance Comparison
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Returns By Period
In the year-to-date period, NUGT achieves a -33.26% return, which is significantly higher than SOXS's -93.11% return. Over the past 10 years, NUGT has outperformed SOXS with an annualized return of -14.42%, while SOXS has yielded a comparatively lower -78.44% annualized return.
NUGT
- 1D
- 4.91%
- 1M
- -2.95%
- 6M
- -47.01%
- YTD
- -33.26%
- 1Y
- 50.44%
- 3Y*
- 56.79%
- 5Y*
- 17.00%
- 10Y*
- -14.42%
- ALL TIME*
- -33.40%
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) |
|---|---|---|---|
| $68.86M | $69.27M | $87.33M | |
| $3.85B | $3.40B | $3.36B |
NUGT vs. SOXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NUGT Direxion Daily Gold Miners Index Bull 2X ETF | -33.26% | 425.05% | 2.89% | 2.60% | -32.10% | -26.31% | -60.16% | 100.73% | -44.52% | 3.73% |
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% | -69.39% |
Correlation
The correlation between NUGT and SOXS is -0.39, 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. | -0.39 |
Correlation (3Y) Balances recent behavior with more history. | -0.26 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.25 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.16 |
Correlation (All Time) Calculated using the full available price history since Dec 8, 2010 | -0.16 |
Over the past year, the inverse relationship between NUGT and SOXS has strengthened: their correlation has moved from -0.16 to -0.39, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
NUGT vs. SOXS — Risk / Return Rank
NUGT
SOXS
NUGT vs. SOXS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Gold Miners Index Bull 2X ETF (NUGT) 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.
| NUGT | SOXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.26 | ||
| Sortino ratioReturn per unit of downside risk | +3.89 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 0.72 | +0.45 |
| Calmar ratioReturn relative to maximum drawdown | 0.75 | -0.99 | +1.74 |
| Martin ratioReturn relative to average drawdown | 1.49 | -1.35 | +2.84 |
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Drawdowns
NUGT vs. SOXS - Drawdown Comparison
The maximum NUGT drawdown since its inception was -99.97%, roughly equal to the maximum SOXS drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for NUGT and SOXS.
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Drawdown Indicators
| NUGT | SOXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.97% | -100.00% | +0.03% |
Max Drawdown (1Y)Largest decline over 1 year | -67.40% | -97.89% | +30.49% |
Max Drawdown (3Y)Largest decline over 3 years | -67.40% | -99.87% | +32.47% |
Max Drawdown (5Y)Largest decline over 5 years | -73.72% | -99.98% | +26.26% |
Max Drawdown (10Y)Largest decline over 10 years | -96.89% | -100.00% | +3.11% |
Current DrawdownCurrent decline from peak | -99.84% | -100.00% | +0.16% |
Average DrawdownAverage peak-to-trough decline | -91.59% | -92.66% | +1.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 34.06% | 71.79% | -37.73% |
Volatility
NUGT vs. SOXS - Volatility Comparison
The current volatility for Direxion Daily Gold Miners Index Bull 2X ETF (NUGT) is 24.55%, while Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a volatility of 57.90%. This indicates that NUGT 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
| NUGT | SOXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 24.55% | 57.90% | -33.35% |
Volatility (6M)Calculated over the trailing 6-month period | 75.17% | 118.41% | -43.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 96.19% | 133.78% | -37.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 73.70% | 114.93% | -41.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 87.37% | 103.97% | -16.60% |
NUGT vs. SOXS - Expense Ratio Comparison
NUGT has a 1.13% expense ratio, which is higher than SOXS's 1.08% expense ratio.
Dividends
NUGT vs. SOXS - Dividend Comparison
NUGT's dividend yield for the trailing twelve months is around 0.59%, less than SOXS's 53.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
NUGT Direxion Daily Gold Miners Index Bull 2X ETF | 0.59% | 0.22% | 1.79% | 1.67% | 0.70% | 0.00% | 0.00% | 0.63% | 0.57% |
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% |
Frequently Asked Questions
NUGT 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 (57.90%) compared to NUGT (24.55%). In terms of maximum drawdown, NUGT dropped -99.97% vs SOXS's -100.00%.
On 10-year performance, NUGT leads with -14.42% vs -78.44% for SOXS. On fees, SOXS is cheaper at 1.08% per year. On volatility, NUGT has been the lower-risk option at 24.55%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, NUGT has performed better with a -14.42% return vs -78.44%. 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 1.13% for NUGT.
SOXS has the higher dividend yield at 53.64%, compared with 0.59% for NUGT.
NUGT is categorized as Gold, while SOXS is Inverse Equities. NUGT tracks MarketVector Global Gold Miners Index (200%), while SOXS tracks PHLX Semiconductor Index (-300%). Their fees differ too: 1.13% for NUGT and 1.08% for SOXS.
NUGT currently has the higher Sharpe Ratio (0.53 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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