NUGT vs. SOXS
NUGT (Direxion Daily Gold Miners Bull 2X Shares) and SOXS (Direxion Daily Semiconductor Bear 3x Shares) are both Leveraged Equities funds from Direxion - NUGT tracks the NYSE Arca Gold Miners Index (300%) while SOXS tracks the PHLX Semiconductor Index (-300%). Both are passively managed. Over the past 10 years, NUGT returned -8.54%/yr vs -78.92%/yr for SOXS. At a correlation of -0.15, they often move in opposite directions. NUGT charges 1.23%/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 -16.05% return, which is significantly higher than SOXS's -92.10% return. Over the past 10 years, NUGT has outperformed SOXS with an annualized return of -8.54%, while SOXS has yielded a comparatively lower -78.92% annualized return.
NUGT
- 1D
- -6.64%
- 1M
- -4.13%
- YTD
- -16.05%
- 6M
- -6.29%
- 1Y
- 97.46%
- 3Y*
- 60.96%
- 5Y*
- 16.32%
- 10Y*
- -8.54%
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%
NUGT vs. SOXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NUGT Direxion Daily Gold Miners Bull 2X Shares | -16.05% | 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 | -92.10% | -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 -0.30, 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 | -0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.24 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.15 |
Correlation (All Time) Calculated using the full available price history since Dec 9, 2010 | -0.15 |
The correlation between NUGT and SOXS shifts across timeframes, from -0.30 (1 year) to -0.15 (10 years), reflecting how their relationship changes across market environments.
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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 Bull 2X Shares (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.
| NUGT | SOXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.05 | ||
| Sortino ratioReturn per unit of downside risk | +5.62 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 0.58 | +0.65 |
| Calmar ratioReturn relative to maximum drawdown | 1.83 | -1.00 | +2.83 |
| Martin ratioReturn relative to average drawdown | 4.18 | -1.44 | +5.62 |
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
| NUGT | SOXS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.09 | -0.96 | +2.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.23 | -0.74 | +0.97 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.10 | -0.79 | +0.69 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.33 | -0.79 | +0.46 |
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 | -53.58% | -97.68% | +44.10% |
Max Drawdown (3Y)Largest decline over 3 years | -53.58% | -99.80% | +46.22% |
Max Drawdown (5Y)Largest decline over 5 years | -73.72% | -99.97% | +26.25% |
Max Drawdown (10Y)Largest decline over 10 years | -96.91% | -100.00% | +3.09% |
Current DrawdownCurrent decline from peak | -99.80% | -100.00% | +0.20% |
Average DrawdownAverage peak-to-trough decline | -91.52% | -92.60% | +1.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.39% | 68.64% | -45.25% |
Volatility
NUGT vs. SOXS - Volatility Comparison
The current volatility for Direxion Daily Gold Miners Bull 2X Shares (NUGT) is 30.32%, while Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a volatility of 44.22%. 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 | 30.32% | 44.22% | -13.90% |
Volatility (6M)Calculated over the trailing 6-month period | 75.18% | 83.94% | -8.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 90.01% | 102.18% | -12.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 71.96% | 108.21% | -36.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 87.90% | 100.48% | -12.58% |
NUGT vs. SOXS - Expense Ratio Comparison
NUGT has a 1.23% 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 0.36%, less than SOXS's 68.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
NUGT Direxion Daily Gold Miners Bull 2X Shares | 0.36% | 0.22% | 1.79% | 1.67% | 0.70% | 0.00% | 0.00% | 0.63% | 0.57% |
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
NUGT and SOXS have a correlation of -0.30, 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 NUGT (30.32%). In terms of maximum drawdown, NUGT dropped -99.97% vs SOXS's -100.00%.
On 10-year performance, NUGT leads with -8.54% vs -78.92% for SOXS. On fees, SOXS is cheaper at 1.08% per year. On volatility, NUGT has been the lower-risk option at 30.32%. 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 -8.54% return vs -78.92%. 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 1.23% for NUGT.
SOXS has the higher dividend yield at 68.34%, compared with 0.36% for NUGT.
NUGT tracks NYSE Arca Gold Miners Index (300%), while SOXS tracks PHLX Semiconductor Index (-300%). Their fees differ too: 1.23% for NUGT and 1.08% for SOXS.
NUGT currently has the higher Sharpe Ratio (1.09 vs -0.96), 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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