SOXS vs. TSLL
SOXS (Direxion Daily Semiconductor Bear 3x Shares) and TSLL (Direxion Daily TSLA Bull 2X ETF) are both exchange-traded funds - SOXS is a Inverse Equities fund tracking the PHLX Semiconductor Index (-300%), while TSLL is a Leveraged Equities fund actively managed by Direxion. SOXS is passively managed, while TSLL is actively managed. Over the past 3 years, SOXS returned -84.46%/yr vs -20.90%/yr for TSLL. Their -0.50 correlation means they have often moved in opposite directions in the past. SOXS charges 1.08%/yr vs 0.83%/yr for TSLL.
Performance
SOXS vs. TSLL - Performance Comparison
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Returns By Period
In the year-to-date period, SOXS achieves a -91.17% return, which is significantly lower than TSLL's -61.15% return.
SOXS
- 1D
- 0.65%
- 1M
- 20.33%
- 6M
- -85.96%
- YTD
- -91.17%
- 1Y
- -96.46%
- 3Y*
- -84.46%
- 5Y*
- -78.46%
- 10Y*
- -78.06%
- ALL TIME*
- -70.81%
TSLL
- 1D
- 1.39%
- 1M
- -40.57%
- 6M
- -56.61%
- YTD
- -61.15%
- 1Y
- -25.18%
- 3Y*
- -20.90%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -23.74%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $3.72B | $3.43B | $3.32B | |
| $724.83M | $679.97M | $948.78M |
SOXS vs. TSLL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SOXS Direxion Daily Semiconductor Bear 3x Shares | -91.17% | -85.53% | -59.55% | -84.56% | 5.91% |
TSLL Direxion Daily TSLA Bull 2X ETF | -61.15% | -26.80% | 99.63% | 139.86% | -74.99% |
Correlation
The correlation between SOXS and TSLL is -0.53, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.53 |
Correlation (3Y) Balances recent behavior with more history. | -0.50 |
Correlation (All Time) Calculated using the full available price history since Aug 9, 2022 | -0.50 |
The correlation between SOXS and TSLL has been stable across timeframes, ranging from -0.53 to -0.50 - a consistent structural relationship.
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Return for Risk
SOXS vs. TSLL — Risk / Return Rank
SOXS
TSLL
SOXS vs. TSLL - 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 TSLA Bull 2X ETF (TSLL). 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 | TSLL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.43 | ||
| Sortino ratioReturn per unit of downside risk | -2.62 | ||
| Omega ratioGain probability vs. loss probability | 0.74 | 1.02 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | -0.98 | -0.40 | -0.59 |
| Martin ratioReturn relative to average drawdown | -1.35 | -0.88 | -0.47 |
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Drawdowns
SOXS vs. TSLL - Drawdown Comparison
The maximum SOXS drawdown since its inception was -100.00%, which is greater than TSLL's maximum drawdown of -82.88%. Use the drawdown chart below to compare losses from any high point for SOXS and TSLL.
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Drawdown Indicators
| SOXS | TSLL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -82.88% | -17.12% |
Max Drawdown (1Y)Largest decline over 1 year | -97.89% | -70.13% | -27.76% |
Max Drawdown (3Y)Largest decline over 3 years | -99.87% | -82.88% | -16.99% |
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% | -80.38% | -19.62% |
Average DrawdownAverage peak-to-trough decline | -92.65% | -54.36% | -38.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 71.27% | 31.62% | +39.65% |
Volatility
SOXS vs. TSLL - Volatility Comparison
Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a higher volatility of 55.41% compared to Direxion Daily TSLA Bull 2X ETF (TSLL) at 43.16%. This indicates that SOXS's price experiences larger fluctuations and is considered to be riskier than TSLL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SOXS | TSLL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 55.41% | 43.16% | +12.25% |
Volatility (6M)Calculated over the trailing 6-month period | 117.32% | 70.52% | +46.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 132.87% | 92.41% | +40.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 114.55% | 107.78% | +6.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 103.76% | 107.78% | -4.02% |
SOXS vs. TSLL - Expense Ratio Comparison
SOXS has a 1.08% expense ratio, which is higher than TSLL's 0.83% expense ratio.
Dividends
SOXS vs. TSLL - Dividend Comparison
SOXS's dividend yield for the trailing twelve months is around 41.84%, more than TSLL's 13.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
SOXS Direxion Daily Semiconductor Bear 3x Shares | 41.84% | 10.79% | 5.45% | 9.22% | 0.19% | 0.00% | 3.58% | 2.30% | 0.76% |
TSLL Direxion Daily TSLA Bull 2X ETF | 13.48% | 5.00% | 2.47% | 4.44% | 1.57% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SOXS and TSLL have a correlation of -0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXS has higher volatility (55.41%) compared to TSLL (43.16%). In terms of maximum drawdown, SOXS dropped -100.00% vs TSLL's -82.88%.
On 3-year performance, TSLL leads with -20.90% vs -84.46% for SOXS. On fees, TSLL is cheaper at 0.83% per year. On volatility, TSLL has been the lower-risk option at 43.16%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, TSLL has performed better with a -20.90% return vs -84.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TSLL is cheaper with a 0.83% expense ratio, compared with 1.08% for SOXS.
SOXS has the higher dividend yield at 41.84%, compared with 13.48% for TSLL.
SOXS is categorized as Inverse Equities, while TSLL is Leveraged Equities. Their fees differ too: 1.08% for SOXS and 0.83% for TSLL.
TSLL currently has the higher Sharpe Ratio (-0.30 vs -0.73), 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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