SOXS vs. FNGD
Compare and contrast key facts about Direxion Daily Semiconductor Bear 3x Shares (SOXS) and MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD).
SOXS and FNGD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SOXS is a passively managed fund by Direxion that tracks the performance of the PHLX Semiconductor Index (-300%). It was launched on Mar 11, 2010. FNGD is a passively managed fund by BMO that tracks the performance of the NYSE FANG+ Index (-300%). It was launched on Jan 22, 2018. Both SOXS and FNGD are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
SOXS vs. FNGD - Performance Comparison
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SOXS vs. FNGD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SOXS Direxion Daily Semiconductor Bear 3x Shares | -41.64% | -85.53% | -59.55% | -84.56% | 15.76% | -80.94% | -92.90% | -83.81% | 11.96% |
FNGD MicroSectors FANG+™ Index -3X Inverse Leveraged ETN | 33.64% | -61.42% | -76.57% | -90.14% | 52.21% | -60.04% | -95.60% | -72.46% | -13.73% |
Returns By Period
In the year-to-date period, SOXS achieves a -41.64% return, which is significantly lower than FNGD's 33.64% return.
SOXS
- 1D
- -9.03%
- 1M
- 2.04%
- YTD
- -41.64%
- 6M
- -62.23%
- 1Y
- -93.50%
- 3Y*
- -76.69%
- 5Y*
- -70.08%
- 10Y*
- -74.65%
FNGD
- 1D
- -4.70%
- 1M
- 8.14%
- YTD
- 33.64%
- 6M
- 37.83%
- 1Y
- -59.80%
- 3Y*
- -66.39%
- 5Y*
- -60.34%
- 10Y*
- —
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SOXS vs. FNGD - Expense Ratio Comparison
SOXS has a 1.08% expense ratio, which is higher than FNGD's 0.95% expense ratio.
Return for Risk
SOXS vs. FNGD — Risk / Return Rank
SOXS
FNGD
SOXS vs. FNGD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Semiconductor Bear 3x Shares (SOXS) and MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD). 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.
| SOXS | FNGD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.78 | -0.76 | -0.02 |
Sortino ratioReturn per unit of downside risk | -2.06 | -0.94 | -1.12 |
Omega ratioGain probability vs. loss probability | 0.74 | 0.87 | -0.13 |
Calmar ratioReturn relative to maximum drawdown | -0.97 | -0.74 | -0.22 |
Martin ratioReturn relative to average drawdown | -1.09 | -0.85 | -0.24 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SOXS | FNGD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.78 | -0.76 | -0.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.66 | -0.68 | +0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.75 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.76 | -0.75 | -0.01 |
Correlation
The correlation between SOXS and FNGD is 0.76, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
SOXS vs. FNGD - Dividend Comparison
SOXS's dividend yield for the trailing twelve months is around 9.25%, while FNGD has not paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SOXS Direxion Daily Semiconductor Bear 3x Shares | 9.25% | 10.79% | 5.45% | 9.22% | 0.19% | 0.00% | 3.58% | 2.30% | 0.76% |
FNGD MicroSectors FANG+™ Index -3X Inverse Leveraged ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
SOXS vs. FNGD - Drawdown Comparison
The maximum SOXS drawdown since its inception was -100.00%, roughly equal to the maximum FNGD drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for SOXS and FNGD.
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Drawdown Indicators
| SOXS | FNGD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -100.00% | 0.00% |
Max Drawdown (1Y)Largest decline over 1 year | -96.52% | -82.53% | -13.99% |
Max Drawdown (5Y)Largest decline over 5 years | -99.85% | -99.53% | -0.32% |
Max Drawdown (10Y)Largest decline over 10 years | -100.00% | — | — |
Current DrawdownCurrent decline from peak | -100.00% | -99.99% | -0.01% |
Average DrawdownAverage peak-to-trough decline | -92.53% | -86.98% | -5.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 85.61% | 71.98% | +13.63% |
Volatility
SOXS vs. FNGD - Volatility Comparison
Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a higher volatility of 39.00% compared to MicroSectors FANG+™ Index -3X Inverse Leveraged ETN (FNGD) at 25.08%. This indicates that SOXS's price experiences larger fluctuations and is considered to be riskier than FNGD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SOXS | FNGD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 39.00% | 25.08% | +13.92% |
Volatility (6M)Calculated over the trailing 6-month period | 79.00% | 45.50% | +33.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 120.15% | 78.77% | +41.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 106.42% | 88.87% | +17.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 99.19% | 91.50% | +7.69% |