SOXS vs. NRGD
SOXS (Direxion Daily Semiconductor Bear 3x Shares) and NRGD (MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN) are both exchange-traded funds - SOXS is a Inverse Equities fund tracking the PHLX Semiconductor Index (-300%), while NRGD is a Leveraged Equities fund tracking the Solactive MicroSectors U.S. Big Oil Index (-300%). Both are passively managed. Over the past year, SOXS returned -97.76% vs -72.26% for NRGD. At a 0.10 correlation, their price movements are largely independent. SOXS charges 1.08%/yr vs 0.95%/yr for NRGD.
Performance
SOXS vs. NRGD - Performance Comparison
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Returns By Period
In the year-to-date period, SOXS achieves a -93.50% return, which is significantly lower than NRGD's -63.27% return.
SOXS
- 1D
- 22.42%
- 1M
- -47.74%
- YTD
- -93.50%
- 6M
- -93.24%
- 1Y
- -97.76%
- 3Y*
- -87.41%
- 5Y*
- -80.25%
- 10Y*
- -79.54%
NRGD
- 1D
- -2.47%
- 1M
- 16.95%
- YTD
- -63.27%
- 6M
- -63.90%
- 1Y
- -72.26%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SOXS vs. NRGD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SOXS Direxion Daily Semiconductor Bear 3x Shares | -93.50% | -81.35% |
NRGD MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN | -63.27% | -35.40% |
Correlation
The correlation between SOXS and NRGD is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025 | 0.10 |
The correlation between SOXS and NRGD shifts across timeframes, from -0.02 (1 year) to 0.10 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SOXS vs. NRGD — Risk / Return Rank
SOXS
NRGD
SOXS vs. NRGD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Semiconductor Bear 3x Shares (SOXS) and MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN (NRGD). 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 | NRGD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.13 | ||
| Sortino ratioReturn per unit of downside risk | -1.59 | ||
| Omega ratioGain probability vs. loss probability | 0.63 | 0.81 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | -1.00 | -0.90 | -0.09 |
| Martin ratioReturn relative to average drawdown | -1.51 | -1.45 | -0.06 |
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Drawdowns
SOXS vs. NRGD - Drawdown Comparison
The maximum SOXS drawdown since its inception was -100.00%, which is greater than NRGD's maximum drawdown of -89.64%. Use the drawdown chart below to compare losses from any high point for SOXS and NRGD.
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Drawdown Indicators
| SOXS | NRGD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -89.64% | -10.36% |
Max Drawdown (1Y)Largest decline over 1 year | -97.94% | -80.03% | -17.91% |
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% | -86.51% | -13.49% |
Average DrawdownAverage peak-to-trough decline | -92.61% | -59.82% | -32.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 67.48% | 49.93% | +17.55% |
Volatility
SOXS vs. NRGD - Volatility Comparison
Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a higher volatility of 66.67% compared to MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN (NRGD) at 24.74%. This indicates that SOXS's price experiences larger fluctuations and is considered to be riskier than NRGD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SOXS | NRGD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 66.67% | 24.74% | +41.93% |
Volatility (6M)Calculated over the trailing 6-month period | 100.39% | 59.20% | +41.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 117.32% | 75.34% | +41.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 111.39% | 88.73% | +22.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 102.09% | 88.73% | +13.36% |
SOXS vs. NRGD - Expense Ratio Comparison
SOXS has a 1.08% expense ratio, which is higher than NRGD's 0.95% expense ratio.
Dividends
SOXS vs. NRGD - Dividend Comparison
SOXS's dividend yield for the trailing twelve months is around 83.05%, while NRGD has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
NRGD MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | 83.05% | 10.79% | 5.45% | 9.22% | 0.19% | 0.00% | 3.58% | 2.30% | 0.76% |
Frequently Asked Questions
SOXS and NRGD have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXS has higher volatility (66.67%) compared to NRGD (24.74%). In terms of maximum drawdown, SOXS dropped -100.00% vs NRGD's -89.64%.
On 1-year performance, NRGD leads with -72.26% vs -97.76% for SOXS. On fees, NRGD is cheaper at 0.95% per year. On volatility, NRGD has been the lower-risk option at 24.74%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, NRGD has performed better with a -72.26% return vs -97.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NRGD is cheaper with a 0.95% expense ratio, compared with 1.08% for SOXS.
SOXS has the higher dividend yield at 83.05%, compared with 0.00% for NRGD.
SOXS is categorized as Inverse Equities, while NRGD is Leveraged Equities. SOXS tracks PHLX Semiconductor Index (-300%), while NRGD tracks Solactive MicroSectors U.S. Big Oil Index (-300%). They also come from different issuers: Direxion and BMO. Their fees differ too: 1.08% for SOXS and 0.95% for NRGD.
SOXS currently has the higher Sharpe Ratio (-0.83 vs -0.97), 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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