QQQE vs. SOXS
QQQE (Direxion NASDAQ-100 Equal Weighted Index Shares) and SOXS (Direxion Daily Semiconductor Bear 3x Shares) are both exchange-traded funds - QQQE is a Nasdaq-100 fund tracking the NASDAQ-100 Equal Weighted Index, while SOXS is a Inverse Equities fund tracking the PHLX Semiconductor Index (-300%). Both are passively managed. Over the past 10 years, QQQE returned 16.24%/yr vs -79.95%/yr for SOXS. At a correlation of -0.83, they often move in opposite directions. QQQE charges 0.35%/yr vs 1.08%/yr for SOXS.
Performance
QQQE vs. SOXS - Performance Comparison
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Returns By Period
In the year-to-date period, QQQE achieves a 17.16% return, which is significantly higher than SOXS's -94.09% return. Over the past 10 years, QQQE has outperformed SOXS with an annualized return of 16.24%, while SOXS has yielded a comparatively lower -79.95% annualized return.
QQQE
- 1D
- 0.68%
- 1M
- 1.10%
- YTD
- 17.16%
- 6M
- 15.52%
- 1Y
- 24.45%
- 3Y*
- 17.83%
- 5Y*
- 9.20%
- 10Y*
- 16.24%
SOXS
- 1D
- -11.03%
- 1M
- -41.63%
- YTD
- -94.09%
- 6M
- -93.81%
- 1Y
- -97.64%
- 3Y*
- -87.76%
- 5Y*
- -80.66%
- 10Y*
- -79.95%
QQQE vs. SOXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares | 17.16% | 14.58% | 6.98% | 33.76% | -24.47% | 17.93% | 37.85% | 36.43% | -5.40% | 26.53% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | -94.09% | -85.53% | -59.55% | -84.56% | 15.76% | -80.94% | -92.90% | -83.81% | -19.39% | -69.39% |
Correlation
The correlation between QQQE and SOXS is -0.74, 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 | -0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.84 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.84 |
Correlation (All Time) Calculated using the full available price history since Mar 21, 2012 | -0.83 |
The correlation between QQQE and SOXS has been stable across timeframes, ranging from -0.84 to -0.74 - a consistent structural relationship.
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Return for Risk
QQQE vs. SOXS — Risk / Return Rank
QQQE
SOXS
QQQE vs. SOXS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) 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.
| QQQE | SOXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.41 | ||
| Sortino ratioReturn per unit of downside risk | +5.51 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 0.64 | +0.64 |
| Calmar ratioReturn relative to maximum drawdown | 2.61 | -1.00 | +3.61 |
| Martin ratioReturn relative to average drawdown | 8.73 | -1.51 | +10.24 |
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Drawdowns
QQQE vs. SOXS - Drawdown Comparison
The maximum QQQE drawdown since its inception was -32.14%, smaller than the maximum SOXS drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for QQQE and SOXS.
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Drawdown Indicators
| QQQE | SOXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.14% | -100.00% | +67.86% |
Max Drawdown (1Y)Largest decline over 1 year | -9.41% | -97.88% | +88.47% |
Max Drawdown (3Y)Largest decline over 3 years | -21.38% | -99.87% | +78.49% |
Max Drawdown (5Y)Largest decline over 5 years | -32.14% | -99.98% | +67.84% |
Max Drawdown (10Y)Largest decline over 10 years | -32.14% | -100.00% | +67.86% |
Current DrawdownCurrent decline from peak | -2.48% | -100.00% | +97.52% |
Average DrawdownAverage peak-to-trough decline | -5.15% | -92.61% | +87.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.81% | 64.48% | -61.67% |
Volatility
QQQE vs. SOXS - Volatility Comparison
The current volatility for Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) is 7.91%, while Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a volatility of 65.23%. This indicates that QQQE 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
| QQQE | SOXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.91% | 65.23% | -57.32% |
Volatility (6M)Calculated over the trailing 6-month period | 12.70% | 100.97% | -88.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.57% | 117.61% | -102.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.54% | 111.53% | -90.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.79% | 102.14% | -81.35% |
QQQE vs. SOXS - Expense Ratio Comparison
QQQE has a 0.35% expense ratio, which is lower than SOXS's 1.08% expense ratio.
Dividends
QQQE vs. SOXS - Dividend Comparison
QQQE's dividend yield for the trailing twelve months is around 0.57%, less than SOXS's 62.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares | 0.57% | 0.52% | 0.86% | 0.79% | 0.98% | 3.83% | 0.54% | 0.74% | 0.80% | 0.65% | 1.17% | 0.57% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | 62.55% | 10.79% | 5.45% | 9.22% | 0.19% | 0.00% | 3.58% | 2.30% | 0.76% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
QQQE and SOXS have a correlation of -0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXS has higher volatility (65.23%) compared to QQQE (7.91%). In terms of maximum drawdown, QQQE dropped -32.14% vs SOXS's -100.00%.
On 10-year performance, QQQE leads with 16.24% vs -79.95% for SOXS. On fees, QQQE is cheaper at 0.35% per year. On volatility, QQQE has been the lower-risk option at 7.91%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, QQQE has performed better with a 16.24% return vs -79.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QQQE is cheaper with a 0.35% expense ratio, compared with 1.08% for SOXS.
SOXS has the higher dividend yield at 62.55%, compared with 0.57% for QQQE.
QQQE is categorized as Nasdaq-100, while SOXS is Inverse Equities. QQQE tracks NASDAQ-100 Equal Weighted Index, while SOXS tracks PHLX Semiconductor Index (-300%). Their fees differ too: 0.35% for QQQE and 1.08% for SOXS.
QQQE currently has the higher Sharpe Ratio (1.58 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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