SOXS vs. TECL
SOXS (Direxion Daily Semiconductor Bear 3x Shares) and TECL (Direxion Daily Technology Bull 3X Shares) are both Leveraged Equities funds from Direxion - SOXS tracks the PHLX Semiconductor Index (-300%) while TECL tracks the Technology Select Sector Index (300%). Both are passively managed. Over the past 10 years, SOXS returned -78.81%/yr vs 54.96%/yr for TECL. At a correlation of -0.85, they often move in opposite directions. Both charge a 1.08% expense ratio.
Performance
SOXS vs. TECL - Performance Comparison
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Returns By Period
In the year-to-date period, SOXS achieves a -91.68% return, which is significantly lower than TECL's 132.84% return. Over the past 10 years, SOXS has underperformed TECL with an annualized return of -78.81%, while TECL has yielded a comparatively higher 54.96% annualized return.
SOXS
- 1D
- -17.41%
- 1M
- -60.17%
- YTD
- -91.68%
- 6M
- -91.80%
- 1Y
- -97.83%
- 3Y*
- -86.41%
- 5Y*
- -79.75%
- 10Y*
- -78.81%
TECL
- 1D
- 3.64%
- 1M
- 79.01%
- YTD
- 132.84%
- 6M
- 126.90%
- 1Y
- 296.16%
- 3Y*
- 82.48%
- 5Y*
- 45.92%
- 10Y*
- 54.96%
SOXS vs. TECL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SOXS Direxion Daily Semiconductor Bear 3x Shares | -91.68% | -85.53% | -59.55% | -84.56% | 15.76% | -80.94% | -92.90% | -83.81% | -19.39% | -69.39% |
TECL Direxion Daily Technology Bull 3X Shares | 132.84% | 38.60% | 36.15% | 203.14% | -74.32% | 112.80% | 69.46% | 185.58% | -24.03% | 124.82% |
Correlation
The correlation between SOXS and TECL is -0.82, 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 | -0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.86 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.88 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.86 |
Correlation (All Time) Calculated using the full available price history since Mar 12, 2010 | -0.85 |
The correlation between SOXS and TECL has been stable across timeframes, ranging from -0.88 to -0.82 - a consistent structural relationship.
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Return for Risk
SOXS vs. TECL — Risk / Return Rank
SOXS
TECL
SOXS vs. TECL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Semiconductor Bear 3x Shares (SOXS) and Direxion Daily Technology Bull 3X Shares (TECL). 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.
| SOXS | TECL | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.96 | 4.81 | -5.77 |
Sortino ratioReturn per unit of downside risk | -3.97 | 3.86 | -7.83 |
Omega ratioGain probability vs. loss probability | 0.58 | 1.51 | -0.93 |
Calmar ratioReturn relative to maximum drawdown | -1.00 | 6.58 | -7.58 |
Martin ratioReturn relative to average drawdown | -1.39 | 18.93 | -20.32 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SOXS | TECL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.96 | 4.81 | -5.77 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.74 | 0.62 | -1.36 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.79 | 0.76 | -1.55 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.79 | 0.77 | -1.56 |
Drawdowns
SOXS vs. TECL - Drawdown Comparison
The maximum SOXS drawdown since its inception was -100.00%, which is greater than TECL's maximum drawdown of -77.96%. Use the drawdown chart below to compare losses from any high point for SOXS and TECL.
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Drawdown Indicators
| SOXS | TECL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -77.96% | -22.04% |
Max Drawdown (1Y)Largest decline over 1 year | -97.64% | -46.58% | -51.06% |
Max Drawdown (3Y)Largest decline over 3 years | -99.79% | -66.58% | -33.21% |
Max Drawdown (5Y)Largest decline over 5 years | -99.97% | -77.96% | -22.01% |
Max Drawdown (10Y)Largest decline over 10 years | -100.00% | -77.96% | -22.04% |
Current DrawdownCurrent decline from peak | -100.00% | 0.00% | -100.00% |
Average DrawdownAverage peak-to-trough decline | -92.60% | -18.38% | -74.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 70.48% | 16.19% | +54.29% |
Volatility
SOXS vs. TECL - Volatility Comparison
Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a higher volatility of 44.74% compared to Direxion Daily Technology Bull 3X Shares (TECL) at 19.99%. This indicates that SOXS's price experiences larger fluctuations and is considered to be riskier than TECL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SOXS | TECL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 44.74% | 19.99% | +24.75% |
Volatility (6M)Calculated over the trailing 6-month period | 83.91% | 49.69% | +34.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 102.16% | 62.10% | +40.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 108.22% | 74.09% | +34.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 100.49% | 72.35% | +28.14% |
SOXS vs. TECL - Expense Ratio Comparison
Both SOXS and TECL have an expense ratio of 1.08%.
Dividends
SOXS vs. TECL - Dividend Comparison
SOXS's dividend yield for the trailing twelve months is around 64.90%, more than TECL's 3.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
SOXS Direxion Daily Semiconductor Bear 3x Shares | 64.90% | 10.79% | 5.45% | 9.22% | 0.19% | 0.00% | 3.58% | 2.30% | 0.76% | 0.00% |
TECL Direxion Daily Technology Bull 3X Shares | 3.05% | 7.19% | 0.29% | 0.28% | 0.22% | 0.32% | 0.52% | 0.25% | 0.47% | 0.10% |
Frequently Asked Questions
SOXS and TECL have a correlation of -0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXS has higher volatility (44.74%) compared to TECL (19.99%). In terms of maximum drawdown, SOXS dropped -100.00% vs TECL's -77.96%.
On 10-year performance, TECL leads with 54.96% vs -78.81% for SOXS. Both ETFs have the same 1.08% expense ratio. On volatility, TECL has been the lower-risk option at 19.99%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, TECL has performed better with a 54.96% return vs -78.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SOXS and TECL have the same expense ratio: 1.08% per year.
SOXS has the higher dividend yield at 64.90%, compared with 3.05% for TECL.
SOXS tracks PHLX Semiconductor Index (-300%), while TECL tracks Technology Select Sector Index (300%).
TECL currently has the higher Sharpe Ratio (4.81 vs -0.96), 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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