SOXS vs. SVIX
SOXS (Direxion Daily Semiconductor Bear 3x Shares) and SVIX (-1x Short VIX Futures ETF) are both exchange-traded funds - SOXS is a Inverse Equities fund tracking the PHLX Semiconductor Index (-300%), while SVIX is a Volatility fund tracking the Short VIX Futures Index. Both are passively managed. Over the past 3 years, SOXS returned -88.23%/yr vs -4.10%/yr for SVIX. At a correlation of -0.59, they often move in opposite directions. SOXS charges 1.08%/yr vs 1.47%/yr for SVIX.
Performance
SOXS vs. SVIX - Performance Comparison
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Returns By Period
In the year-to-date period, SOXS achieves a -94.69% return, which is significantly lower than SVIX's -3.67% return.
SOXS
- 1D
- -8.08%
- 1M
- -57.31%
- YTD
- -94.69%
- 6M
- -94.57%
- 1Y
- -98.20%
- 3Y*
- -88.23%
- 5Y*
- -81.24%
- 10Y*
- -79.95%
SVIX
- 1D
- 0.60%
- 1M
- 13.36%
- YTD
- -3.67%
- 6M
- -2.22%
- 1Y
- 66.24%
- 3Y*
- -4.10%
- 5Y*
- —
- 10Y*
- —
SOXS vs. SVIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SOXS Direxion Daily Semiconductor Bear 3x Shares | -94.69% | -85.53% | -59.55% | -84.56% | 23.83% |
SVIX -1x Short VIX Futures ETF | -3.67% | -4.49% | -32.76% | 157.37% | -1.48% |
Correlation
The correlation between SOXS and SVIX is -0.52, 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 | -0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.58 |
Correlation (All Time) Calculated using the full available price history since Mar 30, 2022 | -0.59 |
The correlation between SOXS and SVIX has been stable across timeframes, ranging from -0.59 to -0.52 - a consistent structural relationship.
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Return for Risk
SOXS vs. SVIX — Risk / Return Rank
SOXS
SVIX
SOXS vs. SVIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Semiconductor Bear 3x Shares (SOXS) and -1x Short VIX Futures ETF (SVIX). 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 | SVIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.06 | ||
| Sortino ratioReturn per unit of downside risk | -5.37 | ||
| Omega ratioGain probability vs. loss probability | 0.61 | 1.24 | -0.63 |
| Calmar ratioReturn relative to maximum drawdown | -1.00 | 1.56 | -2.56 |
| Martin ratioReturn relative to average drawdown | -1.46 | 4.45 | -5.91 |
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Drawdowns
SOXS vs. SVIX - Drawdown Comparison
The maximum SOXS drawdown since its inception was -100.00%, which is greater than SVIX's maximum drawdown of -79.30%. Use the drawdown chart below to compare losses from any high point for SOXS and SVIX.
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Drawdown Indicators
| SOXS | SVIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -79.30% | -20.70% |
Max Drawdown (1Y)Largest decline over 1 year | -98.17% | -42.69% | -55.48% |
Max Drawdown (3Y)Largest decline over 3 years | -99.87% | -79.30% | -20.57% |
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% | -53.99% | -46.01% |
Average DrawdownAverage peak-to-trough decline | -92.60% | -31.85% | -60.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 67.64% | 14.92% | +52.72% |
Volatility
SOXS vs. SVIX - Volatility Comparison
Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a higher volatility of 61.89% compared to -1x Short VIX Futures ETF (SVIX) at 15.86%. This indicates that SOXS's price experiences larger fluctuations and is considered to be riskier than SVIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SOXS | SVIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 61.89% | 15.86% | +46.03% |
Volatility (6M)Calculated over the trailing 6-month period | 97.94% | 43.29% | +54.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 115.12% | 55.21% | +59.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 110.92% | 66.25% | +44.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 101.99% | 66.25% | +35.74% |
SOXS vs. SVIX - Expense Ratio Comparison
SOXS has a 1.08% expense ratio, which is lower than SVIX's 1.47% expense ratio.
Dividends
SOXS vs. SVIX - Dividend Comparison
SOXS's dividend yield for the trailing twelve months is around 101.68%, while SVIX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
SOXS Direxion Daily Semiconductor Bear 3x Shares | 101.68% | 10.79% | 5.45% | 9.22% | 0.19% | 0.00% | 3.58% | 2.30% | 0.76% |
SVIX -1x Short VIX Futures ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SOXS and SVIX have a correlation of -0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXS has higher volatility (61.89%) compared to SVIX (15.86%). In terms of maximum drawdown, SOXS dropped -100.00% vs SVIX's -79.30%.
On 3-year performance, SVIX leads with -4.10% vs -88.23% for SOXS. On fees, SOXS is cheaper at 1.08% per year. On volatility, SVIX has been the lower-risk option at 15.86%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, SVIX has performed better with a -4.10% return vs -88.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SOXS is cheaper with a 1.08% expense ratio, compared with 1.47% for SVIX.
SOXS has the higher dividend yield at 101.68%, compared with 0.00% for SVIX.
SOXS is categorized as Inverse Equities, while SVIX is Volatility. SOXS tracks PHLX Semiconductor Index (-300%), while SVIX tracks Short VIX Futures Index. They also come from different issuers: Direxion and Volatility Shares. Their fees differ too: 1.08% for SOXS and 1.47% for SVIX.
SVIX currently has the higher Sharpe Ratio (1.21 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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