SOXS vs. SOXX
SOXS (Direxion Daily Semiconductor Bear 3x Shares) and SOXX (iShares Semiconductor ETF) are both exchange-traded funds - SOXS is a Inverse Equities fund tracking the PHLX Semiconductor Index (-300%), while SOXX is a Semiconductors fund tracking the NYSE Semiconductor Index. Both are passively managed. Over the past 10 years, SOXS returned -78.06%/yr vs 32.19%/yr for SOXX. Their -1.00 correlation means they have often moved in opposite directions in the past. SOXS charges 1.08%/yr vs 0.34%/yr for SOXX.
Performance
SOXS vs. SOXX - 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 SOXX's 67.84% return. Over the past 10 years, SOXS has underperformed SOXX with an annualized return of -78.06%, while SOXX has yielded a comparatively higher 32.19% annualized 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%
SOXX
- 1D
- 0.07%
- 1M
- -10.85%
- 6M
- 45.95%
- YTD
- 67.84%
- 1Y
- 113.81%
- 3Y*
- 42.35%
- 5Y*
- 28.10%
- 10Y*
- 32.19%
- ALL TIME*
- 13.83%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $3.72B | $3.43B | $3.32B | |
| $6.04B | $5.84B | $5.80B |
SOXS vs. SOXX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SOXS Direxion Daily Semiconductor Bear 3x Shares | -91.17% | -85.53% | -59.55% | -84.56% | 15.76% | -80.94% | -92.90% | -83.81% | -19.39% | -69.39% |
SOXX iShares Semiconductor ETF | 67.84% | 40.74% | 12.92% | 67.12% | -35.09% | 44.09% | 52.72% | 62.42% | -6.49% | 39.79% |
Correlation
The correlation between SOXS and SOXX is -1.00, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -1.00 |
Correlation (3Y) Balances recent behavior with more history. | -1.00 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -1.00 |
Correlation (10Y) Provides a long-term view across more market conditions. | -1.00 |
Correlation (All Time) Calculated using the full available price history since Mar 11, 2010 | -1.00 |
The correlation between SOXS and SOXX has been stable across timeframes, ranging from -1.00 to -1.00 - a consistent structural relationship.
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Return for Risk
SOXS vs. SOXX — Risk / Return Rank
SOXS
SOXX
SOXS vs. SOXX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Semiconductor Bear 3x Shares (SOXS) and iShares Semiconductor ETF (SOXX). 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 | SOXX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.25 | ||
| Sortino ratioReturn per unit of downside risk | -5.29 | ||
| Omega ratioGain probability vs. loss probability | 0.74 | 1.38 | -0.65 |
| Calmar ratioReturn relative to maximum drawdown | -0.98 | 3.86 | -4.84 |
| Martin ratioReturn relative to average drawdown | -1.35 | 16.24 | -17.59 |
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Drawdowns
SOXS vs. SOXX - Drawdown Comparison
The maximum SOXS drawdown since its inception was -100.00%, which is greater than SOXX's maximum drawdown of -70.21%. Use the drawdown chart below to compare losses from any high point for SOXS and SOXX.
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Drawdown Indicators
| SOXS | SOXX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -70.21% | -29.79% |
Max Drawdown (1Y)Largest decline over 1 year | -97.89% | -29.01% | -68.88% |
Max Drawdown (3Y)Largest decline over 3 years | -99.87% | -41.36% | -58.51% |
Max Drawdown (5Y)Largest decline over 5 years | -99.98% | -45.75% | -54.23% |
Max Drawdown (10Y)Largest decline over 10 years | -100.00% | -45.75% | -54.25% |
Current DrawdownCurrent decline from peak | -100.00% | -22.92% | -77.08% |
Average DrawdownAverage peak-to-trough decline | -92.65% | -19.92% | -72.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 71.27% | 6.88% | +64.39% |
Volatility
SOXS vs. SOXX - Volatility Comparison
Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a higher volatility of 55.41% compared to iShares Semiconductor ETF (SOXX) at 17.83%. This indicates that SOXS's price experiences larger fluctuations and is considered to be riskier than SOXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SOXS | SOXX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 55.41% | 17.83% | +37.58% |
Volatility (6M)Calculated over the trailing 6-month period | 117.32% | 38.92% | +78.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 132.87% | 44.48% | +88.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 114.55% | 38.24% | +76.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 103.76% | 34.54% | +69.22% |
SOXS vs. SOXX - Expense Ratio Comparison
SOXS has a 1.08% expense ratio, which is higher than SOXX's 0.34% expense ratio.
Dividends
SOXS vs. SOXX - Dividend Comparison
SOXS's dividend yield for the trailing twelve months is around 41.84%, more than SOXX's 0.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% | 0.00% |
SOXX iShares Semiconductor ETF | 0.29% | 0.57% | 0.67% | 0.78% | 1.26% | 0.64% | 0.81% | 1.23% | 1.37% | 0.90% | 1.08% | 1.29% |
Frequently Asked Questions
SOXS and SOXX have a correlation of -1.00, 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 SOXX (17.83%). In terms of maximum drawdown, SOXS dropped -100.00% vs SOXX's -70.21%.
On 10-year performance, SOXX leads with 32.19% vs -78.06% for SOXS. On fees, SOXX is cheaper at 0.34% per year. On volatility, SOXX has been the lower-risk option at 17.83%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SOXX has performed better with a 32.19% return vs -78.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SOXX is cheaper with a 0.34% expense ratio, compared with 1.08% for SOXS.
SOXS has the higher dividend yield at 41.84%, compared with 0.29% for SOXX.
SOXS is categorized as Inverse Equities, while SOXX is Semiconductors. SOXS tracks PHLX Semiconductor Index (-300%), while SOXX tracks NYSE Semiconductor Index. They also come from different issuers: Direxion and iShares. Their fees differ too: 1.08% for SOXS and 0.34% for SOXX.
SOXX currently has the higher Sharpe Ratio (2.53 vs -0.73), 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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