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 -79.63%/yr vs 36.48%/yr for SOXX. At a correlation of -1.00, they often move in opposite directions. 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 -94.22% return, which is significantly lower than SOXX's 112.57% return. Over the past 10 years, SOXS has underperformed SOXX with an annualized return of -79.63%, while SOXX has yielded a comparatively higher 36.48% annualized return.
SOXS
- 1D
- -19.51%
- 1M
- -56.69%
- YTD
- -94.22%
- 6M
- -94.29%
- 1Y
- -98.05%
- 3Y*
- -87.35%
- 5Y*
- -81.08%
- 10Y*
- -79.63%
SOXX
- 1D
- 6.62%
- 1M
- 21.93%
- YTD
- 112.57%
- 6M
- 113.52%
- 1Y
- 185.39%
- 3Y*
- 56.81%
- 5Y*
- 36.05%
- 10Y*
- 36.48%
SOXS vs. SOXX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SOXS Direxion Daily Semiconductor Bear 3x Shares | -94.22% | -85.53% | -59.55% | -84.56% | 15.76% | -80.94% | -92.90% | -83.81% | -19.39% | -69.39% |
SOXX iShares Semiconductor ETF | 112.57% | 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 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 | -1.00 |
Correlation (3Y) Calculated over the trailing 3-year period | -1.00 |
Correlation (5Y) Calculated over the trailing 5-year period | -1.00 |
Correlation (10Y) Calculated over the trailing 10-year period | -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 | -5.65 | ||
| Sortino ratioReturn per unit of downside risk | -8.15 | ||
| Omega ratioGain probability vs. loss probability | 0.61 | 1.65 | -1.04 |
| Calmar ratioReturn relative to maximum drawdown | -1.00 | 11.72 | -12.72 |
| Martin ratioReturn relative to average drawdown | -1.45 | 42.40 | -43.85 |
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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 | -98.05% | -15.77% | -82.28% |
Max Drawdown (3Y)Largest decline over 3 years | -99.86% | -41.36% | -58.50% |
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% | 0.00% | -100.00% |
Average DrawdownAverage peak-to-trough decline | -92.60% | -19.94% | -72.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 67.35% | 4.35% | +63.00% |
Volatility
SOXS vs. SOXX - Volatility Comparison
Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a higher volatility of 62.68% compared to iShares Semiconductor ETF (SOXX) at 21.02%. 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 | 62.68% | 21.02% | +41.66% |
Volatility (6M)Calculated over the trailing 6-month period | 98.59% | 32.54% | +66.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 114.74% | 38.49% | +76.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 110.83% | 37.01% | +73.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 101.93% | 33.93% | +68.00% |
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 93.47%, more than SOXX's 0.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SOXS Direxion Daily Semiconductor Bear 3x Shares | 93.47% | 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 | 0.23% | 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 (62.68%) compared to SOXX (21.02%). In terms of maximum drawdown, SOXS dropped -100.00% vs SOXX's -70.21%.
On 10-year performance, SOXX leads with 36.48% vs -79.63% for SOXS. On fees, SOXX is cheaper at 0.34% per year. On volatility, SOXX has been the lower-risk option at 21.02%. 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 36.48% return vs -79.63%. 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 93.47%, compared with 0.23% 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 (4.80 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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