SOXS vs. SKRE
SOXS (Direxion Daily Semiconductor Bear 3x Shares) and SKRE (Tuttle Capital Daily 2X Inverse Regional Banks ETF) are both Inverse Equities funds - SOXS tracks the PHLX Semiconductor Index (-300%) while SKRE tracks the S&P Regional Banks Select Industry. Both are passively managed. Over the past year, SOXS returned -96.46% vs -49.41% for SKRE. Their 0.29 correlation means their historical movements had little consistent relationship. SOXS charges 1.08%/yr vs 0.75%/yr for SKRE.
Performance
SOXS vs. SKRE - Performance Comparison
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Returns By Period
In the year-to-date period, SOXS achieves a -91.17% return, which is significantly lower than SKRE's -33.64% return.
SOXS
- 1D
- 0.65%
- 1M
- 20.33%
- 6M
- -85.96%
- YTD
- -91.17%
- 1Y
- -96.46%
- 3Y*
- -84.46%
- 5Y*
- -78.46%
- 10Y*
- -78.06%
- ALL TIME*
- -70.81%
SKRE
- 1D
- -0.47%
- 1M
- -3.55%
- 6M
- -24.32%
- YTD
- -33.64%
- 1Y
- -49.41%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -41.39%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $138.55K | $152.58K | $246.42K | |
| $3.72B | $3.43B | $3.32B |
SOXS vs. SKRE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SOXS Direxion Daily Semiconductor Bear 3x Shares | -91.17% | -85.53% | -65.63% |
SKRE Tuttle Capital Daily 2X Inverse Regional Banks ETF | -33.64% | -31.29% | -44.47% |
Correlation
The correlation between SOXS and SKRE is 0.21, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.21 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2024 | 0.29 |
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Return for Risk
SOXS vs. SKRE — Risk / Return Rank
SOXS
SKRE
SOXS vs. SKRE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Semiconductor Bear 3x Shares (SOXS) and Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE). 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 | SKRE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.31 | ||
| Sortino ratioReturn per unit of downside risk | -0.85 | ||
| Omega ratioGain probability vs. loss probability | 0.74 | 0.82 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | -0.98 | -0.92 | -0.06 |
| Martin ratioReturn relative to average drawdown | -1.35 | -1.55 | +0.20 |
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Drawdowns
SOXS vs. SKRE - Drawdown Comparison
The maximum SOXS drawdown since its inception was -100.00%, which is greater than SKRE's maximum drawdown of -79.33%. Use the drawdown chart below to compare losses from any high point for SOXS and SKRE.
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Drawdown Indicators
| SOXS | SKRE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -79.33% | -20.67% |
Max Drawdown (1Y)Largest decline over 1 year | -97.89% | -51.44% | -46.45% |
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% | -78.48% | -21.52% |
Average DrawdownAverage peak-to-trough decline | -92.65% | -49.04% | -43.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 71.27% | 30.59% | +40.68% |
Volatility
SOXS vs. SKRE - Volatility Comparison
Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a higher volatility of 55.41% compared to Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE) at 11.05%. This indicates that SOXS's price experiences larger fluctuations and is considered to be riskier than SKRE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SOXS | SKRE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 55.41% | 11.05% | +44.36% |
Volatility (6M)Calculated over the trailing 6-month period | 117.32% | 30.36% | +86.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 132.87% | 46.00% | +86.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 114.55% | 54.78% | +59.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 103.76% | 54.78% | +48.98% |
SOXS vs. SKRE - Expense Ratio Comparison
SOXS has a 1.08% expense ratio, which is higher than SKRE's 0.75% expense ratio.
Dividends
SOXS vs. SKRE - Dividend Comparison
SOXS's dividend yield for the trailing twelve months is around 41.84%, more than SKRE's 0.39% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
SKRE Tuttle Capital Daily 2X Inverse Regional Banks ETF | 0.39% | 0.26% | 3.16% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | 41.84% | 10.79% | 5.45% | 9.22% | 0.19% | 0.00% | 3.58% | 2.30% | 0.76% |
Frequently Asked Questions
SOXS and SKRE have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXS has higher volatility (55.41%) compared to SKRE (11.05%). In terms of maximum drawdown, SOXS dropped -100.00% vs SKRE's -79.33%.
On 1-year performance, SKRE leads with -49.41% vs -96.46% for SOXS. On fees, SKRE is cheaper at 0.75% per year. On volatility, SKRE has been the lower-risk option at 11.05%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SKRE has performed better with a -49.41% return vs -96.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SKRE is cheaper with a 0.75% expense ratio, compared with 1.08% for SOXS.
SOXS has the higher dividend yield at 41.84%, compared with 0.39% for SKRE.
SOXS tracks PHLX Semiconductor Index (-300%), while SKRE tracks S&P Regional Banks Select Industry. They also come from different issuers: Direxion and Tuttle. Their fees differ too: 1.08% for SOXS and 0.75% for SKRE.
SOXS currently has the higher Sharpe Ratio (-0.73 vs -1.04), 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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