SOXS vs. NVDU

Last updated Jul 14, 2026

SOXS (Direxion Daily Semiconductor Bear 3x Shares) and NVDU (Direxion Daily NVDA Bull 2X Shares ETF) are both exchange-traded funds - SOXS is a Inverse Equities fund tracking the PHLX Semiconductor Index (-300%), while NVDU is a Leveraged Equities fund actively managed by Direxion. SOXS is passively managed, while NVDU is actively managed. Over the past year, SOXS returned -96.62% vs 20.36% for NVDU. At a correlation of -0.66, they often move in opposite directions. SOXS charges 1.08%/yr vs 1.04%/yr for NVDU.

Performance

SOXS vs. NVDU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Semiconductor Bear 3x Shares (SOXS) and Direxion Daily NVDA Bull 2X Shares ETF (NVDU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SOXS achieves a -92.43% return, which is significantly lower than NVDU's 4.77% 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%

NVDU

• 1D: -7.22%
• 1M: -3.67%
• 6M: 6.87%
• YTD: 4.77%
• 1Y: 20.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

SOXS vs. NVDU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SOXS Direxion Daily Semiconductor Bear 3x Shares	-92.43%	-85.53%	-59.55%	-42.93%
NVDU Direxion Daily NVDA Bull 2X Shares ETF	4.77%	33.65%	289.29%	12.08%

Correlation

The correlation between SOXS and NVDU is -0.53, 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	-0.53
Correlation (All Time) Calculated using the full available price history since Sep 13, 2023	-0.66

The correlation between SOXS and NVDU shifts across timeframes, from -0.66 (all time) to -0.53 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

SOXS vs. NVDU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SOXS

SOXS Risk / Return Rank: 1
SOXS Sharpe Ratio Rank: 3
SOXS Sortino Ratio Rank: 0
SOXS Omega Ratio Rank: 0
SOXS Calmar Ratio Rank: 0
SOXS Martin Ratio Rank: 1

NVDU

NVDU Risk / Return Rank: 17
NVDU Sharpe Ratio Rank: 14
NVDU Sortino Ratio Rank: 20
NVDU Omega Ratio Rank: 19
NVDU Calmar Ratio Rank: 16
NVDU Martin Ratio Rank: 15

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SOXS vs. NVDU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Semiconductor Bear 3x Shares (SOXS) and Direxion Daily NVDA Bull 2X Shares ETF (NVDU). 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	NVDU	Difference
Sharpe ratio: Return per unit of total volatility	-0.77	0.29	-1.06
Sortino ratio: Return per unit of downside risk	-2.79	0.90	-3.69
Omega ratio: Gain probability vs. loss probability	0.70	1.10	-0.40
Calmar ratio: Return relative to maximum drawdown	-0.99	0.48	-1.47
Martin ratio: Return relative to average drawdown	-1.43	0.99	-2.42

SOXS vs. NVDU - Sharpe Ratio Comparison

The current SOXS Sharpe Ratio is -0.77, which is lower than the NVDU Sharpe Ratio of 0.29. The chart below compares the historical Sharpe Ratios of SOXS and NVDU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SOXS vs. NVDU - Drawdown Comparison

The maximum SOXS drawdown since its inception was -100.00%, which is greater than NVDU's maximum drawdown of -67.27%. Use the drawdown chart below to compare losses from any high point for SOXS and NVDU.

Drawdown Indicators

	SOXS	NVDU	Difference
Max Drawdown Largest peak-to-trough decline	-100.00%	-67.27%	-32.73%
Max Drawdown (1Y) Largest decline over 1 year	-97.89%	-42.27%	-55.62%
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 Drawdown Current decline from peak	-100.00%	-28.65%	-71.35%
Average Drawdown Average peak-to-trough decline	-92.63%	-19.14%	-73.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	67.54%	20.57%	+46.97%

Volatility

SOXS vs. NVDU - Volatility Comparison

Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a higher volatility of 66.39% compared to Direxion Daily NVDA Bull 2X Shares ETF (NVDU) at 21.81%. This indicates that SOXS's price experiences larger fluctuations and is considered to be riskier than NVDU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SOXS	NVDU	Difference
Volatility (1M) Calculated over the trailing 1-month period	66.39%	21.81%	+44.58%
Volatility (6M) Calculated over the trailing 6-month period	108.48%	54.22%	+54.26%
Volatility (1Y) Calculated over the trailing 1-year period	125.48%	71.03%	+54.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	113.09%	90.68%	+22.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	102.91%	90.68%	+12.23%

SOXS vs. NVDU - Expense Ratio Comparison

SOXS has a 1.08% expense ratio, which is higher than NVDU's 1.04% expense ratio.

Dividends

SOXS vs. NVDU - Dividend Comparison

SOXS's dividend yield for the trailing twelve months is around 48.83%, more than NVDU's 5.63% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
NVDU Direxion Daily NVDA Bull 2X Shares ETF	5.63%	5.68%	16.85%	0.63%	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

Can I hold both SOXS and NVDU in my portfolio?

SOXS and NVDU have a correlation of -0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SOXS or NVDU?

SOXS has higher volatility (66.39%) compared to NVDU (21.81%). In terms of maximum drawdown, SOXS dropped -100.00% vs NVDU's -67.27%.

Which ETF is better, SOXS or NVDU?

On 1-year performance, NVDU leads with 20.36% vs -96.62% for SOXS. On fees, NVDU is cheaper at 1.04% per year. On volatility, NVDU has been the lower-risk option at 21.81%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SOXS or NVDU?

Over the 1-year period, NVDU has performed better with a 20.36% return vs -96.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SOXS or NVDU?

NVDU is cheaper with a 1.04% expense ratio, compared with 1.08% for SOXS.

Which ETF pays a higher dividend yield, SOXS or NVDU?

SOXS has the higher dividend yield at 48.83%, compared with 5.63% for NVDU.

What is the main difference between SOXS and NVDU?

SOXS is categorized as Inverse Equities, while NVDU is Leveraged Equities. Their fees differ too: 1.08% for SOXS and 1.04% for NVDU.

Which has better risk-adjusted returns?

NVDU currently has the higher Sharpe Ratio (0.29 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.