SOXS vs. TECL
SOXS (Direxion Daily Semiconductor Bear 3x Shares) and TECL (Direxion Daily Technology Bull 3X Shares) are both exchange-traded funds - SOXS is a Inverse Equities fund tracking the PHLX Semiconductor Index (-300%), while TECL is a Leveraged Equities fund tracking the Technology Select Sector Index (300%). Both are passively managed. Over the past 10 years, SOXS returned -79.95%/yr vs 54.55%/yr for TECL. At a correlation of -0.85, they often move in opposite directions. SOXS charges 1.08%/yr vs 0.91%/yr for TECL.
Performance
SOXS vs. TECL - 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 TECL's 104.37% return. Over the past 10 years, SOXS has underperformed TECL with an annualized return of -79.95%, while TECL has yielded a comparatively higher 54.55% annualized 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%
TECL
- 1D
- 1.43%
- 1M
- 15.41%
- YTD
- 104.37%
- 6M
- 98.56%
- 1Y
- 218.70%
- 3Y*
- 73.29%
- 5Y*
- 37.90%
- 10Y*
- 54.55%
SOXS vs. TECL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SOXS Direxion Daily Semiconductor Bear 3x Shares | -94.69% | -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 | 104.37% | 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 11, 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.
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 | TECL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.05 | ||
| Sortino ratioReturn per unit of downside risk | -6.65 | ||
| Omega ratioGain probability vs. loss probability | 0.61 | 1.40 | -0.80 |
| Calmar ratioReturn relative to maximum drawdown | -1.00 | 4.73 | -5.73 |
| Martin ratioReturn relative to average drawdown | -1.46 | 13.09 | -14.54 |
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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 | -98.17% | -46.58% | -51.59% |
Max Drawdown (3Y)Largest decline over 3 years | -99.87% | -66.58% | -33.29% |
Max Drawdown (5Y)Largest decline over 5 years | -99.98% | -77.96% | -22.02% |
Max Drawdown (10Y)Largest decline over 10 years | -100.00% | -77.96% | -22.04% |
Current DrawdownCurrent decline from peak | -100.00% | -12.23% | -87.77% |
Average DrawdownAverage peak-to-trough decline | -92.60% | -18.38% | -74.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 67.64% | 16.79% | +50.85% |
Volatility
SOXS vs. TECL - Volatility Comparison
Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a higher volatility of 61.89% compared to Direxion Daily Technology Bull 3X Shares (TECL) at 35.62%. 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 | 61.89% | 35.62% | +26.27% |
Volatility (6M)Calculated over the trailing 6-month period | 97.94% | 57.86% | +40.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 115.12% | 68.99% | +46.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 110.92% | 75.28% | +35.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 101.99% | 73.00% | +28.99% |
SOXS vs. TECL - Expense Ratio Comparison
SOXS has a 1.08% expense ratio, which is higher than TECL's 0.91% expense ratio.
Dividends
SOXS vs. TECL - Dividend Comparison
SOXS's dividend yield for the trailing twelve months is around 101.68%, more than TECL's 3.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% |
TECL Direxion Daily Technology Bull 3X Shares | 3.48% | 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 (61.89%) compared to TECL (35.62%). In terms of maximum drawdown, SOXS dropped -100.00% vs TECL's -77.96%.
On 10-year performance, TECL leads with 54.55% vs -79.95% for SOXS. On fees, TECL is cheaper at 0.91% per year. On volatility, TECL has been the lower-risk option at 35.62%. 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 54.55% return vs -79.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TECL is cheaper with a 0.91% expense ratio, compared with 1.08% for SOXS.
SOXS has the higher dividend yield at 101.68%, compared with 3.48% for TECL.
SOXS is categorized as Inverse Equities, while TECL is Leveraged Equities. SOXS tracks PHLX Semiconductor Index (-300%), while TECL tracks Technology Select Sector Index (300%). Their fees differ too: 1.08% for SOXS and 0.91% for TECL.
TECL currently has the higher Sharpe Ratio (3.20 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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