SOXS vs. SSG
SOXS (Direxion Daily Semiconductor Bear 3x Shares) and SSG (Proshares Ultrashort Semiconductors) are both exchange-traded funds - SOXS is a Inverse Equities fund tracking the PHLX Semiconductor Index (-300%), while SSG is a Leveraged Equities fund tracking the Dow Jones U.S. Semiconductors Index (-200%). Both are passively managed. Over the past 10 years, SOXS returned -78.71%/yr vs -61.29%/yr for SSG. Their correlation of 0.93 suggests significant overlap in exposure. SOXS charges 1.08%/yr vs 0.95%/yr for SSG.
Performance
SOXS vs. SSG - Performance Comparison
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Returns By Period
In the year-to-date period, SOXS achieves a -92.43% return, which is significantly lower than SSG's -57.11% return. Over the past 10 years, SOXS has underperformed SSG with an annualized return of -78.71%, while SSG has yielded a comparatively higher -61.29% annualized return.
SOXS
- 1D
- 13.97%
- 1M
- -0.35%
- 6M
- -89.79%
- YTD
- -92.43%
- 1Y
- -96.62%
- 3Y*
- -85.78%
- 5Y*
- -79.45%
- 10Y*
- -78.71%
SSG
- 1D
- 8.63%
- 1M
- 1.21%
- 6M
- -54.30%
- YTD
- -57.11%
- 1Y
- -72.37%
- 3Y*
- -72.30%
- 5Y*
- -65.76%
- 10Y*
- -61.29%
SOXS vs. SSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SOXS Direxion Daily Semiconductor Bear 3x Shares | -92.43% | -85.53% | -59.55% | -84.56% | 15.76% | -80.94% | -92.90% | -83.81% | -19.39% | -69.39% |
SSG Proshares Ultrashort Semiconductors | -57.11% | -70.03% | -77.59% | -78.69% | 37.90% | -67.46% | -76.50% | -63.33% | -0.79% | -51.60% |
Correlation
The correlation between SOXS and SSG is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.84 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.92 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Mar 11, 2010 | 0.93 |
The correlation between SOXS and SSG has been stable across timeframes, ranging from 0.84 to 0.93 - a consistent structural relationship.
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Return for Risk
SOXS vs. SSG — Risk / Return Rank
SOXS
SSG
SOXS vs. SSG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Semiconductor Bear 3x Shares (SOXS) and Proshares Ultrashort Semiconductors (SSG). 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 | SSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.24 | ||
| Sortino ratioReturn per unit of downside risk | -0.79 | ||
| Omega ratioGain probability vs. loss probability | 0.70 | 0.79 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | -0.99 | -0.95 | -0.04 |
| Martin ratioReturn relative to average drawdown | -1.43 | -1.62 | +0.19 |
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Drawdowns
SOXS vs. SSG - Drawdown Comparison
The maximum SOXS drawdown since its inception was -100.00%, roughly equal to the maximum SSG drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for SOXS and SSG.
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Drawdown Indicators
| SOXS | SSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -100.00% | 0.00% |
Max Drawdown (1Y)Largest decline over 1 year | -97.89% | -76.63% | -21.26% |
Max Drawdown (3Y)Largest decline over 3 years | -99.87% | -98.56% | -1.31% |
Max Drawdown (5Y)Largest decline over 5 years | -99.98% | -99.66% | -0.32% |
Max Drawdown (10Y)Largest decline over 10 years | -100.00% | -99.99% | -0.01% |
Current DrawdownCurrent decline from peak | -100.00% | -100.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -92.63% | -88.63% | -4.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 67.54% | 44.68% | +22.86% |
Volatility
SOXS vs. SSG - Volatility Comparison
Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a higher volatility of 66.39% compared to Proshares Ultrashort Semiconductors (SSG) at 32.79%. This indicates that SOXS's price experiences larger fluctuations and is considered to be riskier than SSG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SOXS | SSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 66.39% | 32.79% | +33.60% |
Volatility (6M)Calculated over the trailing 6-month period | 108.48% | 58.10% | +50.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 125.48% | 71.72% | +53.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 113.09% | 79.07% | +34.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 102.91% | 69.87% | +33.04% |
SOXS vs. SSG - Expense Ratio Comparison
SOXS has a 1.08% expense ratio, which is higher than SSG's 0.95% expense ratio.
Dividends
SOXS vs. SSG - Dividend Comparison
SOXS's dividend yield for the trailing twelve months is around 48.83%, more than SSG's 9.50% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
SOXS Direxion Daily Semiconductor Bear 3x Shares | 48.83% | 10.79% | 5.45% | 9.22% | 0.19% | 0.00% | 3.58% | 2.30% | 0.76% |
SSG Proshares Ultrashort Semiconductors | 9.50% | 9.19% | 7.67% | 6.73% | 0.75% | 0.00% | 0.34% | 1.81% | 0.62% |
Frequently Asked Questions
SOXS and SSG have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXS has higher volatility (66.39%) compared to SSG (32.79%). In terms of maximum drawdown, SOXS dropped -100.00% vs SSG's -100.00%.
On 10-year performance, SSG leads with -61.29% vs -78.71% for SOXS. On fees, SSG is cheaper at 0.95% per year. On volatility, SSG has been the lower-risk option at 32.79%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SSG has performed better with a -61.29% return vs -78.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SSG is cheaper with a 0.95% expense ratio, compared with 1.08% for SOXS.
SOXS has the higher dividend yield at 48.83%, compared with 9.50% for SSG.
SOXS is categorized as Inverse Equities, while SSG is Leveraged Equities. SOXS tracks PHLX Semiconductor Index (-300%), while SSG tracks Dow Jones U.S. Semiconductors Index (-200%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.08% for SOXS and 0.95% for SSG.
SOXS currently has the higher Sharpe Ratio (-0.77 vs -1.01), 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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