NVDD vs. SOXL
NVDD (Direxion Daily NVDA Bear 1X Shares) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both exchange-traded funds - NVDD is a Inverse Equities fund actively managed by Direxion, while SOXL is a Leveraged Equities fund tracking the NYSE Semiconductor Index. NVDD is actively managed, while SOXL is passively managed. Over the past year, NVDD returned -20.12% vs 384.82% for SOXL. Their -0.66 correlation means they have often moved in opposite directions in the past. NVDD charges 1.01%/yr vs 0.75%/yr for SOXL.
Performance
NVDD vs. SOXL - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, NVDD achieves a -13.43% return, which is significantly lower than SOXL's 177.68% return.
NVDD
- 1D
- -2.79%
- 1M
- -6.62%
- 6M
- -13.93%
- YTD
- -13.43%
- 1Y
- -20.12%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -48.64%
SOXL
- 1D
- 1.73%
- 1M
- -35.69%
- 6M
- 79.00%
- YTD
- 177.68%
- 1Y
- 384.82%
- 3Y*
- 68.44%
- 5Y*
- 20.37%
- 10Y*
- 47.85%
- ALL TIME*
- 38.13%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $6.44M | $5.40M | $4.86M | |
| $10.83B | $10.43B | $11.85B |
NVDD vs. SOXL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
NVDD Direxion Daily NVDA Bear 1X Shares | -13.43% | -38.72% | -69.77% | -8.97% |
SOXL Direxion Daily Semiconductor Bull 3X ETF | 177.68% | 54.91% | -12.31% | 50.54% |
Correlation
The correlation between NVDD and SOXL is -0.55, 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. | -0.55 |
Correlation (All Time) Calculated using the full available price history since Sep 13, 2023 | -0.66 |
The correlation between NVDD and SOXL shifts across timeframes, from -0.66 (all time) to -0.55 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
NVDD vs. SOXL — Risk / Return Rank
NVDD
SOXL
NVDD vs. SOXL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily NVDA Bear 1X Shares (NVDD) 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.
| NVDD | SOXL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.53 | ||
| Sortino ratioReturn per unit of downside risk | -3.37 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 1.37 | -0.44 |
| Calmar ratioReturn relative to maximum drawdown | -0.64 | 5.59 | -6.23 |
| Martin ratioReturn relative to average drawdown | -1.34 | 18.97 | -20.31 |
Loading charts...
Drawdowns
NVDD vs. SOXL - Drawdown Comparison
The maximum NVDD drawdown since its inception was -88.34%, roughly equal to the maximum SOXL drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for NVDD and SOXL.
Loading charts...
Drawdown Indicators
| NVDD | SOXL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.34% | -90.46% | +2.12% |
Max Drawdown (1Y)Largest decline over 1 year | -31.63% | -69.42% | +37.79% |
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 | -86.96% | -61.20% | -25.76% |
Average DrawdownAverage peak-to-trough decline | -68.05% | -35.01% | -33.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.10% | 20.40% | -5.30% |
Volatility
NVDD vs. SOXL - Volatility Comparison
The current volatility for Direxion Daily NVDA Bear 1X Shares (NVDD) is 12.08%, while Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a volatility of 50.40%. This indicates that NVDD 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.
Loading charts...
Volatility by Period
| NVDD | SOXL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.08% | 50.40% | -38.32% |
Volatility (6M)Calculated over the trailing 6-month period | 28.46% | 114.71% | -86.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 36.47% | 130.75% | -94.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.06% | 113.25% | -66.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 47.06% | 102.14% | -55.08% |
NVDD vs. SOXL - Expense Ratio Comparison
NVDD has a 1.01% expense ratio, which is higher than SOXL's 0.75% expense ratio.
Dividends
NVDD vs. SOXL - Dividend Comparison
NVDD's dividend yield for the trailing twelve months is around 3.77%, more than SOXL's 0.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
NVDD Direxion Daily NVDA Bear 1X Shares | 3.77% | 4.19% | 4.83% | 1.31% | 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
NVDD and SOXL have a correlation of -0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXL has higher volatility (50.40%) compared to NVDD (12.08%). In terms of maximum drawdown, NVDD dropped -88.34% vs SOXL's -90.46%.
On 1-year performance, SOXL leads with 384.82% vs -20.12% for NVDD. On fees, SOXL is cheaper at 0.75% per year. On volatility, NVDD has been the lower-risk option at 12.08%. 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 384.82% return vs -20.12%. 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 1.01% for NVDD.
NVDD has the higher dividend yield at 3.77%, compared with 0.01% for SOXL.
NVDD is categorized as Inverse Equities, while SOXL is Leveraged Equities. Their fees differ too: 1.01% for NVDD and 0.75% for SOXL.
SOXL currently has the higher Sharpe Ratio (2.97 vs -0.55), 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.
Find the right allocation for NVDD and SOXL
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer