SOXS vs. NRGD
SOXS (Direxion Daily Semiconductor Bear 3x Shares) and NRGD (MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN) are both Leveraged Equities funds - SOXS tracks the PHLX Semiconductor Index (-300%) while NRGD tracks the Solactive MicroSectors U.S. Big Oil Index (-300%). Both are passively managed. Over the past year, SOXS returned -97.83% vs -80.92% for NRGD. At a 0.11 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 -91.68% return, which is significantly lower than NRGD's -68.97% return.
SOXS
- 1D
- -17.41%
- 1M
- -60.17%
- YTD
- -91.68%
- 6M
- -91.80%
- 1Y
- -97.83%
- 3Y*
- -86.41%
- 5Y*
- -79.75%
- 10Y*
- -78.81%
NRGD
- 1D
- -3.71%
- 1M
- -4.47%
- YTD
- -68.97%
- 6M
- -66.48%
- 1Y
- -80.92%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SOXS vs. NRGD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SOXS Direxion Daily Semiconductor Bear 3x Shares | -91.68% | -81.21% |
NRGD MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN | -68.97% | -32.37% |
Correlation
The correlation between SOXS and NRGD is -0.03, 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 | -0.03 |
Correlation (All Time) Calculated using the full available price history since Feb 21, 2025 | 0.11 |
The correlation between SOXS and NRGD shifts across timeframes, from -0.03 (1 year) to 0.11 (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.
| SOXS | NRGD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.96 | -1.09 | +0.14 |
Sortino ratioReturn per unit of downside risk | -3.97 | -2.47 | -1.50 |
Omega ratioGain probability vs. loss probability | 0.58 | 0.74 | -0.16 |
Calmar ratioReturn relative to maximum drawdown | -1.00 | -0.98 | -0.02 |
Martin ratioReturn relative to average drawdown | -1.39 | -1.55 | +0.16 |
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 | NRGD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.96 | -1.09 | +0.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.74 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.79 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.79 | -0.80 | +0.01 |
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 | -97.64% | -82.88% | -14.76% |
Max Drawdown (3Y)Largest decline over 3 years | -99.79% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -99.97% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -100.00% | — | — |
Current DrawdownCurrent decline from peak | -100.00% | -88.61% | -11.39% |
Average DrawdownAverage peak-to-trough decline | -92.60% | -58.79% | -33.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 70.48% | 52.62% | +17.86% |
Volatility
SOXS vs. NRGD - Volatility Comparison
Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a higher volatility of 44.74% compared to MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN (NRGD) at 28.97%. 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 | 44.74% | 28.97% | +15.77% |
Volatility (6M)Calculated over the trailing 6-month period | 83.91% | 58.43% | +25.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 102.16% | 74.12% | +28.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 108.22% | 88.84% | +19.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 100.49% | 88.84% | +11.65% |
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 64.90%, 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 | 64.90% | 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 -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXS has higher volatility (44.74%) compared to NRGD (28.97%). In terms of maximum drawdown, SOXS dropped -100.00% vs NRGD's -89.64%.
On 1-year performance, NRGD leads with -80.92% vs -97.83% for SOXS. On fees, NRGD is cheaper at 0.95% per year. On volatility, NRGD has been the lower-risk option at 28.97%. 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 -80.92% return vs -97.83%. 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 64.90%, compared with 0.00% for NRGD.
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 (-0.96 vs -1.09), 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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