SOXQ vs. SOXS
SOXQ (Invesco PHLX Semiconductor ETF) and SOXS (Direxion Daily Semiconductor Bear 3x Shares) are both exchange-traded funds - SOXQ is a Semiconductors fund tracking the PHLX Semiconductor Sector Index, while SOXS is a Inverse Equities fund tracking the PHLX Semiconductor Index (-300%). Both are passively managed. Over the past 5 years, SOXQ returned 29.96%/yr vs -79.23%/yr for SOXS. Their -0.99 correlation means they have often moved in opposite directions in the past. SOXQ charges 0.19%/yr vs 1.08%/yr for SOXS.
Performance
SOXQ vs. SOXS - Performance Comparison
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Returns By Period
In the year-to-date period, SOXQ achieves a 72.20% return, which is significantly higher than SOXS's -93.11% return.
SOXQ
- 1D
- 6.53%
- 1M
- -3.45%
- 6M
- 53.12%
- YTD
- 72.20%
- 1Y
- 117.36%
- 3Y*
- 49.65%
- 5Y*
- 29.96%
- 10Y*
- —
- ALL TIME*
- 30.79%
SOXS
- 1D
- -20.25%
- 1M
- -6.14%
- 6M
- -89.05%
- YTD
- -93.11%
- 1Y
- -97.13%
- 3Y*
- -86.28%
- 5Y*
- -79.23%
- 10Y*
- -78.44%
- ALL TIME*
- -71.23%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $214.44M | $218.73M | $282.51M | |
| $3.85B | $3.40B | $3.36B |
SOXQ vs. SOXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SOXQ Invesco PHLX Semiconductor ETF | 72.20% | 43.11% | 20.16% | 66.74% | -35.59% | 25.19% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | -93.11% | -85.53% | -59.55% | -84.56% | 15.76% | -58.55% |
Correlation
The correlation between SOXQ and SOXS is -0.99, 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. | -0.99 |
Correlation (3Y) Balances recent behavior with more history. | -0.99 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.99 |
Correlation (All Time) Calculated using the full available price history since Jun 11, 2021 | -0.99 |
The correlation between SOXQ and SOXS has been stable across timeframes, ranging from -0.99 to -0.99 - a consistent structural relationship.
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Return for Risk
SOXQ vs. SOXS — Risk / Return Rank
SOXQ
SOXS
SOXQ vs. SOXS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco PHLX Semiconductor ETF (SOXQ) 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.
| SOXQ | SOXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.42 | ||
| Sortino ratioReturn per unit of downside risk | +5.59 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 0.72 | +0.68 |
| Calmar ratioReturn relative to maximum drawdown | 4.13 | -0.99 | +5.13 |
| Martin ratioReturn relative to average drawdown | 16.72 | -1.35 | +18.07 |
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Drawdowns
SOXQ vs. SOXS - Drawdown Comparison
The maximum SOXQ drawdown since its inception was -46.01%, smaller than the maximum SOXS drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for SOXQ and SOXS.
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Drawdown Indicators
| SOXQ | SOXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.01% | -100.00% | +53.99% |
Max Drawdown (1Y)Largest decline over 1 year | -28.56% | -97.89% | +69.33% |
Max Drawdown (3Y)Largest decline over 3 years | -39.36% | -99.87% | +60.51% |
Max Drawdown (5Y)Largest decline over 5 years | -46.01% | -99.98% | +53.97% |
Max Drawdown (10Y)Largest decline over 10 years | — | -100.00% | — |
Current DrawdownCurrent decline from peak | -16.72% | -100.00% | +83.28% |
Average DrawdownAverage peak-to-trough decline | -12.93% | -92.66% | +79.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.05% | 71.79% | -64.74% |
Volatility
SOXQ vs. SOXS - Volatility Comparison
The current volatility for Invesco PHLX Semiconductor ETF (SOXQ) is 17.65%, while Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a volatility of 57.90%. This indicates that SOXQ 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
| SOXQ | SOXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.65% | 57.90% | -40.25% |
Volatility (6M)Calculated over the trailing 6-month period | 37.94% | 118.41% | -80.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.80% | 133.78% | -89.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 38.40% | 114.93% | -76.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.01% | 103.97% | -65.96% |
SOXQ vs. SOXS - Expense Ratio Comparison
SOXQ has a 0.19% expense ratio, which is lower than SOXS's 1.08% expense ratio.
Dividends
SOXQ vs. SOXS - Dividend Comparison
SOXQ's dividend yield for the trailing twelve months is around 0.30%, less than SOXS's 53.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
SOXQ Invesco PHLX Semiconductor ETF | 0.30% | 0.50% | 0.68% | 0.87% | 1.36% | 0.72% | 0.00% | 0.00% | 0.00% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | 53.64% | 10.79% | 5.45% | 9.22% | 0.19% | 0.00% | 3.58% | 2.30% | 0.76% |
Frequently Asked Questions
SOXQ and SOXS have a correlation of -0.99, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXS has higher volatility (57.90%) compared to SOXQ (17.65%). In terms of maximum drawdown, SOXQ dropped -46.01% vs SOXS's -100.00%.
On 5-year performance, SOXQ leads with 29.96% vs -79.23% for SOXS. On fees, SOXQ is cheaper at 0.19% per year. On volatility, SOXQ has been the lower-risk option at 17.65%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SOXQ has performed better with a 29.96% return vs -79.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SOXQ is cheaper with a 0.19% expense ratio, compared with 1.08% for SOXS.
SOXS has the higher dividend yield at 53.64%, compared with 0.30% for SOXQ.
SOXQ is categorized as Semiconductors, while SOXS is Inverse Equities. SOXQ tracks PHLX Semiconductor Sector Index, while SOXS tracks PHLX Semiconductor Index (-300%). They also come from different issuers: Invesco and Direxion. Their fees differ too: 0.19% for SOXQ and 1.08% for SOXS.
SOXQ currently has the higher Sharpe Ratio (2.70 vs -0.73), 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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