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 -11.63%/yr vs -79.54%/yr for SOXS. At a correlation of -0.15, they often move in opposite directions. 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 -32.09% return, which is significantly higher than SOXS's -93.50% return. Over the past 10 years, NUGT has outperformed SOXS with an annualized return of -11.63%, while SOXS has yielded a comparatively lower -79.54% annualized return.
NUGT
- 1D
- -9.53%
- 1M
- -19.60%
- YTD
- -32.09%
- 6M
- -39.03%
- 1Y
- 60.88%
- 3Y*
- 55.65%
- 5Y*
- 17.04%
- 10Y*
- -11.63%
SOXS
- 1D
- 22.42%
- 1M
- -47.74%
- YTD
- -93.50%
- 6M
- -93.24%
- 1Y
- -97.76%
- 3Y*
- -87.41%
- 5Y*
- -80.25%
- 10Y*
- -79.54%
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 | -32.09% | 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 | -93.50% | -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 -0.33, 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 | -0.33 |
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 8, 2010 | -0.15 |
The correlation between NUGT and SOXS shifts across timeframes, from -0.33 (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 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 | +1.48 | ||
| Sortino ratioReturn per unit of downside risk | +4.75 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 0.63 | +0.55 |
| Calmar ratioReturn relative to maximum drawdown | 0.96 | -1.00 | +1.96 |
| Martin ratioReturn relative to average drawdown | 2.30 | -1.51 | +3.82 |
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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 | -63.43% | -97.94% | +34.51% |
Max Drawdown (3Y)Largest decline over 3 years | -63.43% | -99.87% | +36.44% |
Max Drawdown (5Y)Largest decline over 5 years | -73.72% | -99.98% | +26.26% |
Max Drawdown (10Y)Largest decline over 10 years | -96.91% | -100.00% | +3.09% |
Current DrawdownCurrent decline from peak | -99.84% | -100.00% | +0.16% |
Average DrawdownAverage peak-to-trough decline | -91.53% | -92.61% | +1.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 26.52% | 67.48% | -40.96% |
Volatility
NUGT vs. SOXS - Volatility Comparison
The current volatility for Direxion Daily Gold Miners Index Bull 2X ETF (NUGT) is 35.11%, while Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a volatility of 66.67%. 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 | 35.11% | 66.67% | -31.56% |
Volatility (6M)Calculated over the trailing 6-month period | 80.35% | 100.39% | -20.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 94.31% | 117.32% | -23.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 72.94% | 111.39% | -38.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 87.97% | 102.09% | -14.12% |
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 0.44%, less than SOXS's 83.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
NUGT Direxion Daily Gold Miners Index Bull 2X ETF | 0.44% | 0.22% | 1.79% | 1.67% | 0.70% | 0.00% | 0.00% | 0.63% | 0.57% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | 83.05% | 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 -0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXS has higher volatility (66.67%) compared to NUGT (35.11%). In terms of maximum drawdown, NUGT dropped -99.97% vs SOXS's -100.00%.
On 10-year performance, NUGT leads with -11.63% vs -79.54% for SOXS. On fees, SOXS is cheaper at 1.08% per year. On volatility, NUGT has been the lower-risk option at 35.11%. 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 -11.63% return vs -79.54%. 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 83.05%, compared with 0.44% 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 (0.65 vs -0.83), 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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