SOXS vs. CHPY
SOXS (Direxion Daily Semiconductor Bear 3x Shares) and CHPY (YieldMax Semiconductor Portfolio Option Income ETF) are both exchange-traded funds - SOXS is a Inverse Equities fund tracking the PHLX Semiconductor Index (-300%), while CHPY is a Derivative Income fund actively managed by YieldMax. SOXS is passively managed, while CHPY is actively managed. Over the past year, SOXS returned -96.62% vs 108.16% for CHPY. At a correlation of -0.97, they often move in opposite directions. SOXS charges 1.08%/yr vs 0.99%/yr for CHPY.
Performance
SOXS vs. CHPY - Performance Comparison
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Returns By Period
In the year-to-date period, SOXS achieves a -92.43% return, which is significantly lower than CHPY's 70.96% return.
SOXS
- 1D
- 13.97%
- 1M
- -0.35%
- 6M
- -89.79%
- YTD
- -92.43%
- 1Y
- -96.62%
- 3Y*
- -85.78%
- 5Y*
- -79.45%
- 10Y*
- -78.71%
CHPY
- 1D
- -4.62%
- 1M
- -4.92%
- 6M
- 57.62%
- YTD
- 70.96%
- 1Y
- 108.16%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SOXS vs. CHPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SOXS Direxion Daily Semiconductor Bear 3x Shares | -92.43% | -88.63% |
CHPY YieldMax Semiconductor Portfolio Option Income ETF | 70.96% | 56.76% |
Correlation
The correlation between SOXS and CHPY is -0.98, 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 | -0.98 |
Correlation (All Time) Calculated using the full available price history since Apr 3, 2025 | -0.97 |
The correlation between SOXS and CHPY has been stable across timeframes, ranging from -0.98 to -0.97 - a consistent structural relationship.
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Return for Risk
SOXS vs. CHPY — Risk / Return Rank
SOXS
CHPY
SOXS vs. CHPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Semiconductor Bear 3x Shares (SOXS) and YieldMax Semiconductor Portfolio Option Income ETF (CHPY). 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.
| SOXS | CHPY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.85 | ||
| Sortino ratioReturn per unit of downside risk | -6.13 | ||
| Omega ratioGain probability vs. loss probability | 0.70 | 1.48 | -0.78 |
| Calmar ratioReturn relative to maximum drawdown | -0.99 | 8.11 | -9.10 |
| Martin ratioReturn relative to average drawdown | -1.43 | 27.19 | -28.62 |
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Drawdowns
SOXS vs. CHPY - Drawdown Comparison
The maximum SOXS drawdown since its inception was -100.00%, which is greater than CHPY's maximum drawdown of -13.41%. Use the drawdown chart below to compare losses from any high point for SOXS and CHPY.
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Drawdown Indicators
| SOXS | CHPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -13.41% | -86.59% |
Max Drawdown (1Y)Largest decline over 1 year | -97.89% | -13.41% | -84.48% |
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 DrawdownCurrent decline from peak | -100.00% | -12.94% | -87.06% |
Average DrawdownAverage peak-to-trough decline | -92.63% | -2.38% | -90.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 67.54% | 3.99% | +63.55% |
Volatility
SOXS vs. CHPY - Volatility Comparison
Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a higher volatility of 66.39% compared to YieldMax Semiconductor Portfolio Option Income ETF (CHPY) at 19.81%. This indicates that SOXS's price experiences larger fluctuations and is considered to be riskier than CHPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SOXS | CHPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 66.39% | 19.81% | +46.58% |
Volatility (6M)Calculated over the trailing 6-month period | 108.48% | 30.94% | +77.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 125.48% | 35.39% | +90.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 113.09% | 37.72% | +75.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 102.91% | 37.72% | +65.19% |
SOXS vs. CHPY - Expense Ratio Comparison
SOXS has a 1.08% expense ratio, which is higher than CHPY's 0.99% expense ratio.
Dividends
SOXS vs. CHPY - Dividend Comparison
SOXS's dividend yield for the trailing twelve months is around 48.83%, more than CHPY's 33.70% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
CHPY YieldMax Semiconductor Portfolio Option Income ETF | 33.70% | 28.19% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | 48.83% | 10.79% | 5.45% | 9.22% | 0.19% | 0.00% | 3.58% | 2.30% | 0.76% |
Frequently Asked Questions
SOXS and CHPY have a correlation of -0.98, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXS has higher volatility (66.39%) compared to CHPY (19.81%). In terms of maximum drawdown, SOXS dropped -100.00% vs CHPY's -13.41%.
On 1-year performance, CHPY leads with 108.16% vs -96.62% for SOXS. On fees, CHPY is cheaper at 0.99% per year. On volatility, CHPY has been the lower-risk option at 19.81%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, CHPY has performed better with a 108.16% return vs -96.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CHPY is cheaper with a 0.99% expense ratio, compared with 1.08% for SOXS.
SOXS has the higher dividend yield at 48.83%, compared with 33.70% for CHPY.
SOXS is categorized as Inverse Equities, while CHPY is Derivative Income. They also come from different issuers: Direxion and YieldMax. Their fees differ too: 1.08% for SOXS and 0.99% for CHPY.
CHPY currently has the higher Sharpe Ratio (3.08 vs -0.77), 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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