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 ICE Semiconductor Index. NVDD is actively managed, while SOXL is passively managed. Over the past year, NVDD returned -31.84% vs 976.09% for SOXL. At a correlation of -0.66, they often move in opposite directions. NVDD charges 1.01%/yr vs 0.75%/yr for SOXL.
Performance
NVDD vs. SOXL - Performance Comparison
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Returns By Period
In the year-to-date period, NVDD achieves a -10.62% return, which is significantly lower than SOXL's 450.61% return.
NVDD
- 1D
- 3.37%
- 1M
- 5.55%
- YTD
- -10.62%
- 6M
- -9.15%
- 1Y
- -31.84%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SOXL
- 1D
- -23.06%
- 1M
- 21.44%
- YTD
- 450.61%
- 6M
- 429.57%
- 1Y
- 976.09%
- 3Y*
- 120.84%
- 5Y*
- 42.16%
- 10Y*
- 64.56%
NVDD vs. SOXL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
NVDD Direxion Daily NVDA Bear 1X Shares | -10.62% | -38.72% | -69.77% | -8.97% |
SOXL Direxion Daily Semiconductor Bull 3X ETF | 450.61% | 54.91% | -12.31% | 50.54% |
Correlation
The correlation between NVDD and SOXL is -0.54, 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 | -0.54 |
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 -0.54 (1 year), reflecting how their relationship changes across market environments.
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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 | -9.35 | ||
| Sortino ratioReturn per unit of downside risk | -5.27 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 1.58 | -0.72 |
| Calmar ratioReturn relative to maximum drawdown | -0.81 | 22.69 | -23.50 |
| Martin ratioReturn relative to average drawdown | -1.44 | 72.83 | -74.27 |
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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.
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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 | -39.32% | -43.47% | +4.15% |
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 | -86.54% | -23.06% | -63.48% |
Average DrawdownAverage peak-to-trough decline | -67.31% | -34.95% | -32.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.19% | 13.52% | +10.67% |
Volatility
NVDD vs. SOXL - Volatility Comparison
The current volatility for Direxion Daily NVDA Bear 1X Shares (NVDD) is 13.05%, while Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a volatility of 68.39%. 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.
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Volatility by Period
| NVDD | SOXL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.05% | 68.39% | -55.34% |
Volatility (6M)Calculated over the trailing 6-month period | 26.79% | 99.84% | -73.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 35.31% | 116.79% | -81.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.36% | 110.35% | -62.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 47.36% | 100.62% | -53.26% |
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 4.01%, more than SOXL's 0.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
NVDD Direxion Daily NVDA Bear 1X Shares | 4.01% | 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 | 0.03% | 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 -0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXL has higher volatility (68.39%) compared to NVDD (13.05%). In terms of maximum drawdown, NVDD dropped -88.34% vs SOXL's -90.46%.
On 1-year performance, SOXL leads with 976.09% vs -31.84% for NVDD. On fees, SOXL is cheaper at 0.75% per year. On volatility, NVDD has been the lower-risk option at 13.05%. 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 976.09% return vs -31.84%. 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 4.01%, compared with 0.03% 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 (8.45 vs -0.90), 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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