SOXS vs. QQQ
SOXS (Direxion Daily Semiconductor Bear 3x Shares) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - SOXS is a Inverse Equities fund tracking the PHLX Semiconductor Index (-300%), while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 10 years, SOXS returned -78.71%/yr vs 21.19%/yr for QQQ. At a correlation of -0.83, they often move in opposite directions. SOXS charges 1.08%/yr vs 0.18%/yr for QQQ.
Performance
SOXS vs. QQQ - 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 QQQ's 16.13% return. Over the past 10 years, SOXS has underperformed QQQ with an annualized return of -78.71%, while QQQ has yielded a comparatively higher 21.19% annualized 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%
QQQ
- 1D
- -1.90%
- 1M
- -1.22%
- 6M
- 13.75%
- YTD
- 16.13%
- 1Y
- 29.05%
- 3Y*
- 24.08%
- 5Y*
- 15.10%
- 10Y*
- 21.19%
SOXS vs. QQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SOXS Direxion Daily Semiconductor Bear 3x Shares | -92.43% | -85.53% | -59.55% | -84.56% | 15.76% | -80.94% | -92.90% | -83.81% | -19.39% | -69.39% |
QQQ Invesco QQQ ETF | 16.13% | 20.77% | 25.58% | 54.86% | -32.58% | 27.42% | 48.62% | 38.96% | -0.13% | 32.66% |
Correlation
The correlation between SOXS and QQQ is -0.82, 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 | -0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.84 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.86 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.84 |
Correlation (All Time) Calculated using the full available price history since Mar 11, 2010 | -0.83 |
The correlation between SOXS and QQQ has been stable across timeframes, ranging from -0.86 to -0.82 - a consistent structural relationship.
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Return for Risk
SOXS vs. QQQ — Risk / Return Rank
SOXS
QQQ
SOXS vs. QQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Semiconductor Bear 3x Shares (SOXS) and Invesco QQQ ETF (QQQ). 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 | QQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.34 | ||
| Sortino ratioReturn per unit of downside risk | -4.91 | ||
| Omega ratioGain probability vs. loss probability | 0.70 | 1.28 | -0.58 |
| Calmar ratioReturn relative to maximum drawdown | -0.99 | 2.44 | -3.43 |
| Martin ratioReturn relative to average drawdown | -1.43 | 8.74 | -10.17 |
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Drawdowns
SOXS vs. QQQ - Drawdown Comparison
The maximum SOXS drawdown since its inception was -100.00%, which is greater than QQQ's maximum drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for SOXS and QQQ.
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Drawdown Indicators
| SOXS | QQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -82.97% | -17.03% |
Max Drawdown (1Y)Largest decline over 1 year | -97.89% | -11.96% | -85.93% |
Max Drawdown (3Y)Largest decline over 3 years | -99.87% | -22.77% | -77.10% |
Max Drawdown (5Y)Largest decline over 5 years | -99.98% | -35.12% | -64.86% |
Max Drawdown (10Y)Largest decline over 10 years | -100.00% | -35.12% | -64.88% |
Current DrawdownCurrent decline from peak | -100.00% | -4.51% | -95.49% |
Average DrawdownAverage peak-to-trough decline | -92.63% | -32.67% | -59.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 67.54% | 3.33% | +64.21% |
Volatility
SOXS vs. QQQ - Volatility Comparison
Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a higher volatility of 66.39% compared to Invesco QQQ ETF (QQQ) at 8.69%. This indicates that SOXS's price experiences larger fluctuations and is considered to be riskier than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SOXS | QQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 66.39% | 8.69% | +57.70% |
Volatility (6M)Calculated over the trailing 6-month period | 108.48% | 15.40% | +93.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 125.48% | 18.61% | +106.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 113.09% | 22.80% | +90.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 102.91% | 22.44% | +80.47% |
SOXS vs. QQQ - Expense Ratio Comparison
SOXS has a 1.08% expense ratio, which is higher than QQQ's 0.18% expense ratio.
Dividends
SOXS vs. QQQ - Dividend Comparison
SOXS's dividend yield for the trailing twelve months is around 48.83%, more than QQQ's 0.43% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QQQ Invesco QQQ ETF | 0.43% | 0.45% | 0.56% | 0.62% | 0.80% | 0.43% | 0.55% | 0.74% | 0.91% | 0.84% | 1.06% | 0.99% |
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% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SOXS and QQQ have a correlation of -0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXS has higher volatility (66.39%) compared to QQQ (8.69%). In terms of maximum drawdown, SOXS dropped -100.00% vs QQQ's -82.97%.
On 10-year performance, QQQ leads with 21.19% vs -78.71% for SOXS. On fees, QQQ is cheaper at 0.18% per year. On volatility, QQQ has been the lower-risk option at 8.69%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, QQQ has performed better with a 21.19% return vs -78.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QQQ is cheaper with a 0.18% expense ratio, compared with 1.08% for SOXS.
SOXS has the higher dividend yield at 48.83%, compared with 0.43% for QQQ.
SOXS is categorized as Inverse Equities, while QQQ is Nasdaq-100. SOXS tracks PHLX Semiconductor Index (-300%), while QQQ tracks NASDAQ-100 Index. They also come from different issuers: Direxion and Invesco. Their fees differ too: 1.08% for SOXS and 0.18% for QQQ.
QQQ currently has the higher Sharpe Ratio (1.57 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.
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