SOXS vs. QQQE
SOXS (Direxion Daily Semiconductor Bear 3x Shares) and QQQE (Direxion NASDAQ-100 Equal Weighted Index Shares) are both exchange-traded funds - SOXS is a Inverse Equities fund tracking the PHLX Semiconductor Index (-300%), while QQQE is a Nasdaq-100 fund tracking the NASDAQ-100 Equal Weighted Index. Both are passively managed. Over the past 10 years, SOXS returned -79.95%/yr vs 16.04%/yr for QQQE. At a correlation of -0.83, they often move in opposite directions. SOXS charges 1.08%/yr vs 0.35%/yr for QQQE.
Performance
SOXS vs. QQQE - Performance Comparison
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Returns By Period
In the year-to-date period, SOXS achieves a -94.69% return, which is significantly lower than QQQE's 19.00% return. Over the past 10 years, SOXS has underperformed QQQE with an annualized return of -79.95%, while QQQE has yielded a comparatively higher 16.04% annualized return.
SOXS
- 1D
- -8.08%
- 1M
- -57.31%
- YTD
- -94.69%
- 6M
- -94.57%
- 1Y
- -98.20%
- 3Y*
- -88.23%
- 5Y*
- -81.24%
- 10Y*
- -79.95%
QQQE
- 1D
- -0.11%
- 1M
- 4.23%
- YTD
- 19.00%
- 6M
- 17.44%
- 1Y
- 28.92%
- 3Y*
- 18.47%
- 5Y*
- 9.83%
- 10Y*
- 16.04%
SOXS vs. QQQE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SOXS Direxion Daily Semiconductor Bear 3x Shares | -94.69% | -85.53% | -59.55% | -84.56% | 15.76% | -80.94% | -92.90% | -83.81% | -19.39% | -69.39% |
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares | 19.00% | 14.58% | 6.98% | 33.76% | -24.47% | 17.93% | 37.85% | 36.43% | -5.40% | 26.53% |
Correlation
The correlation between SOXS and QQQE is -0.74, 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 | -0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.84 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.84 |
Correlation (All Time) Calculated using the full available price history since Mar 21, 2012 | -0.83 |
The correlation between SOXS and QQQE shifts across timeframes, from -0.84 (10 years) to -0.74 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SOXS vs. QQQE — Risk / Return Rank
SOXS
QQQE
SOXS vs. QQQE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Semiconductor Bear 3x Shares (SOXS) and Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE). 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 | QQQE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.73 | ||
| Sortino ratioReturn per unit of downside risk | -6.21 | ||
| Omega ratioGain probability vs. loss probability | 0.61 | 1.33 | -0.72 |
| Calmar ratioReturn relative to maximum drawdown | -1.00 | 3.09 | -4.09 |
| Martin ratioReturn relative to average drawdown | -1.46 | 10.39 | -11.85 |
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Drawdowns
SOXS vs. QQQE - Drawdown Comparison
The maximum SOXS drawdown since its inception was -100.00%, which is greater than QQQE's maximum drawdown of -32.14%. Use the drawdown chart below to compare losses from any high point for SOXS and QQQE.
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Drawdown Indicators
| SOXS | QQQE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -32.14% | -67.86% |
Max Drawdown (1Y)Largest decline over 1 year | -98.17% | -9.41% | -88.76% |
Max Drawdown (3Y)Largest decline over 3 years | -99.87% | -21.38% | -78.49% |
Max Drawdown (5Y)Largest decline over 5 years | -99.98% | -32.14% | -67.84% |
Max Drawdown (10Y)Largest decline over 10 years | -100.00% | -32.14% | -67.86% |
Current DrawdownCurrent decline from peak | -100.00% | -0.95% | -99.05% |
Average DrawdownAverage peak-to-trough decline | -92.60% | -5.16% | -87.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 67.64% | 2.79% | +64.85% |
Volatility
SOXS vs. QQQE - Volatility Comparison
Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a higher volatility of 61.89% compared to Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) at 7.69%. This indicates that SOXS's price experiences larger fluctuations and is considered to be riskier than QQQE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SOXS | QQQE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 61.89% | 7.69% | +54.20% |
Volatility (6M)Calculated over the trailing 6-month period | 97.94% | 12.52% | +85.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 115.12% | 15.53% | +99.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 110.92% | 20.52% | +90.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 101.99% | 20.83% | +81.16% |
SOXS vs. QQQE - Expense Ratio Comparison
SOXS has a 1.08% expense ratio, which is higher than QQQE's 0.35% expense ratio.
Dividends
SOXS vs. QQQE - Dividend Comparison
SOXS's dividend yield for the trailing twelve months is around 101.68%, more than QQQE's 0.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares | 0.52% | 0.52% | 0.86% | 0.79% | 0.98% | 3.83% | 0.54% | 0.74% | 0.80% | 0.65% | 1.17% | 0.57% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | 101.68% | 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 QQQE have a correlation of -0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXS has higher volatility (61.89%) compared to QQQE (7.69%). In terms of maximum drawdown, SOXS dropped -100.00% vs QQQE's -32.14%.
On 10-year performance, QQQE leads with 16.04% vs -79.95% for SOXS. On fees, QQQE is cheaper at 0.35% per year. On volatility, QQQE has been the lower-risk option at 7.69%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, QQQE has performed better with a 16.04% return vs -79.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QQQE is cheaper with a 0.35% expense ratio, compared with 1.08% for SOXS.
SOXS has the higher dividend yield at 101.68%, compared with 0.52% for QQQE.
SOXS is categorized as Inverse Equities, while QQQE is Nasdaq-100. SOXS tracks PHLX Semiconductor Index (-300%), while QQQE tracks NASDAQ-100 Equal Weighted Index. Their fees differ too: 1.08% for SOXS and 0.35% for QQQE.
QQQE currently has the higher Sharpe Ratio (1.87 vs -0.85), 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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