PALU vs. SOXS

Last updated Jul 21, 2026

PALU (Direxion Daily PANW Bull 2X Shares) and SOXS (Direxion Daily Semiconductor Bear 3x Shares) are both exchange-traded funds - PALU is a Leveraged Equities fund actively managed by Direxion, while SOXS is a Inverse Equities fund tracking the PHLX Semiconductor Index (-300%). PALU is actively managed, while SOXS is passively managed. Over the past year, PALU returned 141.28% vs -96.06% for SOXS. At a correlation of -0.22, they often move in opposite directions. Both charge a 1.08% expense ratio.

Performance

PALU vs. SOXS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily PANW Bull 2X Shares (PALU) and Direxion Daily Semiconductor Bear 3x Shares (SOXS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PALU achieves a 198.19% return, which is significantly higher than SOXS's -91.21% return.

PALU

• 1D: -5.51%
• 1M: 42.40%
• 6M: 189.30%
• YTD: 198.19%
• 1Y: 141.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 97.82%

SOXS

• 1D: -1.57%
• 1M: 52.12%
• 6M: -86.84%
• YTD: -91.21%
• 1Y: -96.06%
• 3Y*: -85.22%
• 5Y*: -78.77%
• 10Y*: -78.22%
• ALL TIME*: -70.89%

*Multi-year figures are annualized to reflect compound growth (CAGR)

PALU vs. SOXS - Yearly Performance Comparison

	2026 (YTD)	2025
PALU Direxion Daily PANW Bull 2X Shares	198.19%	-17.65%
SOXS Direxion Daily Semiconductor Bear 3x Shares	-91.21%	-85.90%

Correlation

The correlation between PALU and SOXS is -0.19, 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	-0.19
Correlation (All Time) Calculated using the full available price history since Mar 26, 2025	-0.22

Return for Risk

PALU vs. SOXS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PALU

PALU Risk / Return Rank: 60
PALU Sharpe Ratio Rank: 72
PALU Sortino Ratio Rank: 64
PALU Omega Ratio Rank: 65
PALU Calmar Ratio Rank: 61
PALU Martin Ratio Rank: 40

SOXS

SOXS Risk / Return Rank: 1
SOXS Sharpe Ratio Rank: 3
SOXS Sortino Ratio Rank: 0
SOXS Omega Ratio Rank: 0
SOXS Calmar Ratio Rank: 0
SOXS Martin Ratio Rank: 1

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PALU vs. SOXS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily PANW Bull 2X Shares (PALU) 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.

	PALU	SOXS	Difference
Sharpe ratio: Return per unit of total volatility	1.71	-0.76	+2.47
Sortino ratio: Return per unit of downside risk	2.23	-2.60	+4.83
Omega ratio: Gain probability vs. loss probability	1.29	0.72	+0.56
Calmar ratio: Return relative to maximum drawdown	2.29	-0.98	+3.27
Martin ratio: Return relative to average drawdown	4.60	-1.39	+5.99

PALU vs. SOXS - Sharpe Ratio Comparison

The current PALU Sharpe Ratio is 1.71, which is higher than the SOXS Sharpe Ratio of -0.76. The chart below compares the historical Sharpe Ratios of PALU and SOXS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PALU vs. SOXS - Drawdown Comparison

The maximum PALU drawdown since its inception was -62.18%, smaller than the maximum SOXS drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for PALU and SOXS.

Drawdown Indicators

	PALU	SOXS	Difference
Max Drawdown Largest peak-to-trough decline	-62.18%	-100.00%	+37.82%
Max Drawdown (1Y) Largest decline over 1 year	-62.18%	-97.89%	+35.71%
Max Drawdown (3Y) Largest decline over 3 years	—	-99.87%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-99.98%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-100.00%	—
Current Drawdown Current decline from peak	-6.56%	-100.00%	+93.44%
Average Drawdown Average peak-to-trough decline	-21.25%	-92.64%	+71.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	30.87%	68.90%	-38.03%

Volatility

PALU vs. SOXS - Volatility Comparison

The current volatility for Direxion Daily PANW Bull 2X Shares (PALU) is 33.79%, while Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a volatility of 57.46%. This indicates that PALU 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.

Volatility by Period

	PALU	SOXS	Difference
Volatility (1M) Calculated over the trailing 1-month period	33.79%	57.46%	-23.67%
Volatility (6M) Calculated over the trailing 6-month period	71.51%	109.92%	-38.41%
Volatility (1Y) Calculated over the trailing 1-year period	83.46%	126.84%	-43.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	84.03%	113.28%	-29.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	84.03%	103.05%	-19.02%

PALU vs. SOXS - Expense Ratio Comparison

Both PALU and SOXS have an expense ratio of 1.08%.

Dividends

PALU vs. SOXS - Dividend Comparison

PALU's dividend yield for the trailing twelve months is around 3.66%, less than SOXS's 42.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
PALU Direxion Daily PANW Bull 2X Shares	3.66%	10.50%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SOXS Direxion Daily Semiconductor Bear 3x Shares	42.05%	10.79%	5.45%	9.22%	0.19%	0.00%	3.58%	2.30%	0.76%

Frequently Asked Questions

Can I hold both PALU and SOXS in my portfolio?

PALU and SOXS have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PALU or SOXS?

SOXS has higher volatility (57.46%) compared to PALU (33.79%). In terms of maximum drawdown, PALU dropped -62.18% vs SOXS's -100.00%.

Which ETF is better, PALU or SOXS?

On 1-year performance, PALU leads with 141.28% vs -96.06% for SOXS. Both ETFs have the same 1.08% expense ratio. On volatility, PALU has been the lower-risk option at 33.79%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PALU or SOXS?

Over the 1-year period, PALU has performed better with a 141.28% return vs -96.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PALU or SOXS?

PALU and SOXS have the same expense ratio: 1.08% per year.

Which ETF pays a higher dividend yield, PALU or SOXS?

SOXS has the higher dividend yield at 42.05%, compared with 3.66% for PALU.

What is the main difference between PALU and SOXS?

PALU is categorized as Leveraged Equities, while SOXS is Inverse Equities.

Which has better risk-adjusted returns?

PALU currently has the higher Sharpe Ratio (1.71 vs -0.76), 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.