SOXS vs. SOXQ
SOXS (Direxion Daily Semiconductor Bear 3x Shares) and SOXQ (Invesco PHLX Semiconductor ETF) are both exchange-traded funds - SOXS is a Inverse Equities fund tracking the PHLX Semiconductor Index (-300%), while SOXQ is a Semiconductors fund tracking the PHLX Semiconductor Sector Index. Both are passively managed. Over the past 5 years, SOXS returned -80.25%/yr vs 34.04%/yr for SOXQ. At a correlation of -0.99, they often move in opposite directions. SOXS charges 1.08%/yr vs 0.19%/yr for SOXQ.
Performance
SOXS vs. SOXQ - Performance Comparison
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Returns By Period
In the year-to-date period, SOXS achieves a -93.50% return, which is significantly lower than SOXQ's 90.62% return.
SOXS
- 1D
- 22.42%
- 1M
- -47.74%
- YTD
- -93.50%
- 6M
- -93.24%
- 1Y
- -97.76%
- 3Y*
- -87.41%
- 5Y*
- -80.25%
- 10Y*
- -79.54%
SOXQ
- 1D
- -7.82%
- 1M
- 10.55%
- YTD
- 90.62%
- 6M
- 87.99%
- 1Y
- 158.27%
- 3Y*
- 57.61%
- 5Y*
- 34.04%
- 10Y*
- —
SOXS vs. SOXQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SOXS Direxion Daily Semiconductor Bear 3x Shares | -93.50% | -85.53% | -59.55% | -84.56% | 15.76% | -58.55% |
SOXQ Invesco PHLX Semiconductor ETF | 90.62% | 43.11% | 20.16% | 66.74% | -35.59% | 25.19% |
Correlation
The correlation between SOXS and SOXQ is -0.99, 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 | -0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.99 |
Correlation (All Time) Calculated using the full available price history since Jun 11, 2021 | -0.99 |
The correlation between SOXS and SOXQ has been stable across timeframes, ranging from -0.99 to -0.99 - a consistent structural relationship.
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Return for Risk
SOXS vs. SOXQ — Risk / Return Rank
SOXS
SOXQ
SOXS vs. SOXQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Semiconductor Bear 3x Shares (SOXS) and Invesco PHLX Semiconductor ETF (SOXQ). 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 | SOXQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.94 | ||
| Sortino ratioReturn per unit of downside risk | -7.43 | ||
| Omega ratioGain probability vs. loss probability | 0.63 | 1.58 | -0.95 |
| Calmar ratioReturn relative to maximum drawdown | -1.00 | 10.22 | -11.21 |
| Martin ratioReturn relative to average drawdown | -1.51 | 36.68 | -38.19 |
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Drawdowns
SOXS vs. SOXQ - Drawdown Comparison
The maximum SOXS drawdown since its inception was -100.00%, which is greater than SOXQ's maximum drawdown of -46.01%. Use the drawdown chart below to compare losses from any high point for SOXS and SOXQ.
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Drawdown Indicators
| SOXS | SOXQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -46.01% | -53.99% |
Max Drawdown (1Y)Largest decline over 1 year | -97.94% | -15.59% | -82.35% |
Max Drawdown (3Y)Largest decline over 3 years | -99.87% | -39.36% | -60.51% |
Max Drawdown (5Y)Largest decline over 5 years | -99.98% | -46.01% | -53.97% |
Max Drawdown (10Y)Largest decline over 10 years | -100.00% | — | — |
Current DrawdownCurrent decline from peak | -100.00% | -7.82% | -92.18% |
Average DrawdownAverage peak-to-trough decline | -92.61% | -12.87% | -79.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 67.48% | 4.33% | +63.15% |
Volatility
SOXS vs. SOXQ - Volatility Comparison
Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a higher volatility of 66.67% compared to Invesco PHLX Semiconductor ETF (SOXQ) at 22.04%. This indicates that SOXS's price experiences larger fluctuations and is considered to be riskier than SOXQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SOXS | SOXQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 66.67% | 22.04% | +44.63% |
Volatility (6M)Calculated over the trailing 6-month period | 100.39% | 32.49% | +67.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 117.32% | 38.78% | +78.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 111.39% | 37.34% | +74.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 102.09% | 37.24% | +64.85% |
SOXS vs. SOXQ - Expense Ratio Comparison
SOXS has a 1.08% expense ratio, which is higher than SOXQ's 0.19% expense ratio.
Dividends
SOXS vs. SOXQ - Dividend Comparison
SOXS's dividend yield for the trailing twelve months is around 83.05%, more than SOXQ's 0.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
SOXQ Invesco PHLX Semiconductor ETF | 0.27% | 0.50% | 0.68% | 0.87% | 1.36% | 0.72% | 0.00% | 0.00% | 0.00% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | 83.05% | 10.79% | 5.45% | 9.22% | 0.19% | 0.00% | 3.58% | 2.30% | 0.76% |
Frequently Asked Questions
SOXS and SOXQ have a correlation of -0.99, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXS has higher volatility (66.67%) compared to SOXQ (22.04%). In terms of maximum drawdown, SOXS dropped -100.00% vs SOXQ's -46.01%.
On 5-year performance, SOXQ leads with 34.04% vs -80.25% for SOXS. On fees, SOXQ is cheaper at 0.19% per year. On volatility, SOXQ has been the lower-risk option at 22.04%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SOXQ has performed better with a 34.04% return vs -80.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SOXQ is cheaper with a 0.19% expense ratio, compared with 1.08% for SOXS.
SOXS has the higher dividend yield at 83.05%, compared with 0.27% for SOXQ.
SOXS is categorized as Inverse Equities, while SOXQ is Semiconductors. SOXS tracks PHLX Semiconductor Index (-300%), while SOXQ tracks PHLX Semiconductor Sector Index. They also come from different issuers: Direxion and Invesco. Their fees differ too: 1.08% for SOXS and 0.19% for SOXQ.
SOXQ currently has the higher Sharpe Ratio (4.11 vs -0.83), 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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