SOXS vs. DOG
SOXS (Direxion Daily Semiconductor Bear 3x Shares) and DOG (ProShares Short Dow30) are both Inverse Equities funds - SOXS tracks the PHLX Semiconductor Index (-300%) while DOG tracks the DJ Industrial Average (-100%). Both are passively managed. Over the past 10 years, SOXS returned -79.95%/yr vs -11.50%/yr for DOG. A 0.65 correlation means they provide meaningful diversification when combined. SOXS charges 1.08%/yr vs 0.95%/yr for DOG.
Performance
SOXS vs. DOG - Performance Comparison
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Returns By Period
In the year-to-date period, SOXS achieves a -94.69% return, which is significantly lower than DOG's -5.82% return. Over the past 10 years, SOXS has underperformed DOG with an annualized return of -79.95%, while DOG has yielded a comparatively higher -11.50% annualized return.
SOXS
- 1D
- -8.08%
- 1M
- -57.31%
- YTD
- -94.69%
- 6M
- -94.57%
- 1Y
- -98.20%
- 3Y*
- -88.23%
- 5Y*
- -81.24%
- 10Y*
- -79.95%
DOG
- 1D
- -0.27%
- 1M
- -2.05%
- YTD
- -5.82%
- 6M
- -5.09%
- 1Y
- -15.17%
- 3Y*
- -8.99%
- 5Y*
- -6.11%
- 10Y*
- -11.50%
SOXS vs. DOG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SOXS Direxion Daily Semiconductor Bear 3x Shares | -94.69% | -85.53% | -59.55% | -84.56% | 15.76% | -80.94% | -92.90% | -83.81% | -19.39% | -69.39% |
DOG ProShares Short Dow30 | -5.82% | -8.40% | -5.62% | -7.05% | 5.67% | -19.21% | -20.45% | -18.43% | 3.55% | -21.51% |
Correlation
The correlation between SOXS and DOG is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.48 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.61 |
Correlation (All Time) Calculated using the full available price history since Mar 11, 2010 | 0.65 |
The correlation between SOXS and DOG shifts across timeframes, from 0.48 (1 year) to 0.65 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SOXS vs. DOG — Risk / Return Rank
SOXS
DOG
SOXS vs. DOG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Semiconductor Bear 3x Shares (SOXS) and ProShares Short Dow30 (DOG). 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 | DOG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.37 | ||
| Sortino ratioReturn per unit of downside risk | -2.00 | ||
| Omega ratioGain probability vs. loss probability | 0.61 | 0.81 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | -1.00 | -1.02 | +0.02 |
| Martin ratioReturn relative to average drawdown | -1.46 | -1.76 | +0.30 |
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Drawdowns
SOXS vs. DOG - Drawdown Comparison
The maximum SOXS drawdown since its inception was -100.00%, which is greater than DOG's maximum drawdown of -92.79%. Use the drawdown chart below to compare losses from any high point for SOXS and DOG.
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Drawdown Indicators
| SOXS | DOG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -92.79% | -7.21% |
Max Drawdown (1Y)Largest decline over 1 year | -98.17% | -14.95% | -83.22% |
Max Drawdown (3Y)Largest decline over 3 years | -99.87% | -29.71% | -70.16% |
Max Drawdown (5Y)Largest decline over 5 years | -99.98% | -34.86% | -65.12% |
Max Drawdown (10Y)Largest decline over 10 years | -100.00% | -71.17% | -28.83% |
Current DrawdownCurrent decline from peak | -100.00% | -92.74% | -7.26% |
Average DrawdownAverage peak-to-trough decline | -92.60% | -66.44% | -26.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 67.64% | 9.43% | +58.21% |
Volatility
SOXS vs. DOG - Volatility Comparison
Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a higher volatility of 61.89% compared to ProShares Short Dow30 (DOG) at 4.17%. This indicates that SOXS's price experiences larger fluctuations and is considered to be riskier than DOG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SOXS | DOG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 61.89% | 4.17% | +57.72% |
Volatility (6M)Calculated over the trailing 6-month period | 97.94% | 9.86% | +88.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 115.12% | 12.47% | +102.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 110.92% | 14.84% | +96.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 101.99% | 17.52% | +84.47% |
SOXS vs. DOG - Expense Ratio Comparison
SOXS has a 1.08% expense ratio, which is higher than DOG's 0.95% expense ratio.
Dividends
SOXS vs. DOG - Dividend Comparison
SOXS's dividend yield for the trailing twelve months is around 101.68%, more than DOG's 3.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
DOG ProShares Short Dow30 | 3.55% | 3.65% | 5.72% | 4.54% | 0.41% | 0.00% | 0.14% | 1.54% | 0.86% | 0.04% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | 101.68% | 10.79% | 5.45% | 9.22% | 0.19% | 0.00% | 3.58% | 2.30% | 0.76% | 0.00% |
Frequently Asked Questions
SOXS and DOG have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXS has higher volatility (61.89%) compared to DOG (4.17%). In terms of maximum drawdown, SOXS dropped -100.00% vs DOG's -92.79%.
On 10-year performance, DOG leads with -11.50% vs -79.95% for SOXS. On fees, DOG is cheaper at 0.95% per year. On volatility, DOG has been the lower-risk option at 4.17%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DOG has performed better with a -11.50% return vs -79.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DOG is cheaper with a 0.95% expense ratio, compared with 1.08% for SOXS.
SOXS has the higher dividend yield at 101.68%, compared with 3.55% for DOG.
SOXS tracks PHLX Semiconductor Index (-300%), while DOG tracks DJ Industrial Average (-100%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.08% for SOXS and 0.95% for DOG.
SOXS currently has the higher Sharpe Ratio (-0.85 vs -1.22), 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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