SOXS vs. ORCS
SOXS (Direxion Daily Semiconductor Bear 3x Shares) and ORCS (Direxion Daily ORCL Bear 1X ETF) are both Inverse Equities funds from Direxion. SOXS is passively managed, while ORCS is actively managed. At a 0.34 correlation, their price movements are largely independent. SOXS charges 1.08%/yr vs 0.97%/yr for ORCS.
Performance
SOXS vs. ORCS - Performance Comparison
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Returns By Period
In the year-to-date period, SOXS achieves a -92.43% return, which is significantly lower than ORCS's 25.50% 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%
ORCS
- 1D
- 6.26%
- 1M
- 37.01%
- 6M
- 32.40%
- YTD
- 25.50%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SOXS vs. ORCS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SOXS Direxion Daily Semiconductor Bear 3x Shares | -92.43% | -27.08% |
ORCS Direxion Daily ORCL Bear 1X ETF | 25.50% | 11.07% |
Correlation
The correlation between SOXS and ORCS is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 19, 2025 | 0.34 |
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Return for Risk
SOXS vs. ORCS — Risk / Return Rank
SOXS
ORCS
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SOXS vs. ORCS - 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 ORCL Bear 1X ETF (ORCS). 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 | ORCS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 0.70 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.99 | — | — |
| Martin ratioReturn relative to average drawdown | -1.43 | — | — |
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Drawdowns
SOXS vs. ORCS - Drawdown Comparison
The maximum SOXS drawdown since its inception was -100.00%, which is greater than ORCS's maximum drawdown of -50.25%. Use the drawdown chart below to compare losses from any high point for SOXS and ORCS.
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Drawdown Indicators
| SOXS | ORCS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -50.25% | -49.75% |
Max Drawdown (1Y)Largest decline over 1 year | -97.89% | — | — |
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% | -10.21% | -89.79% |
Average DrawdownAverage peak-to-trough decline | -92.63% | -16.41% | -76.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 67.54% | — | — |
Volatility
SOXS vs. ORCS - Volatility Comparison
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Volatility by Period
| SOXS | ORCS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 66.39% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 108.48% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 125.48% | 59.82% | +65.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 113.09% | 59.82% | +53.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 102.91% | 59.82% | +43.09% |
SOXS vs. ORCS - Expense Ratio Comparison
SOXS has a 1.08% expense ratio, which is higher than ORCS's 0.97% expense ratio.
Dividends
SOXS vs. ORCS - Dividend Comparison
SOXS's dividend yield for the trailing twelve months is around 48.83%, more than ORCS's 1.14% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
ORCS Direxion Daily ORCL Bear 1X ETF | 1.14% | 0.26% | 0.00% | 0.00% | 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
SOXS and ORCS have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ORCS is cheaper at 0.97% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ORCS is cheaper with a 0.97% expense ratio, compared with 1.08% for SOXS.
SOXS has the higher dividend yield at 48.83%, compared with 1.14% for ORCS.
Their fees differ too: 1.08% for SOXS and 0.97% for ORCS.
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