SOXS vs. TSLZ
SOXS (Direxion Daily Semiconductor Bear 3x Shares) and TSLZ (T-Rex 2X Inverse Tesla Daily Target ETF) are both Inverse Equities funds. SOXS is passively managed, while TSLZ is actively managed. Over the past year, SOXS returned -96.46% vs -48.25% for TSLZ. Their 0.49 correlation means their historical movements had little consistent relationship. SOXS charges 1.08%/yr vs 1.05%/yr for TSLZ.
Performance
SOXS vs. TSLZ - 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 TSLZ's 45.39% 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%
TSLZ
- 1D
- -1.43%
- 1M
- 44.35%
- 6M
- 37.89%
- YTD
- 45.39%
- 1Y
- -48.25%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -71.84%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $3.72B | $3.43B | $3.32B | |
| $39.89M | $35.72M | $42.79M |
SOXS vs. TSLZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SOXS Direxion Daily Semiconductor Bear 3x Shares | -91.17% | -85.53% | -59.55% | -47.95% |
TSLZ T-Rex 2X Inverse Tesla Daily Target ETF | 45.39% | -75.98% | -88.79% | -24.75% |
Correlation
The correlation between SOXS and TSLZ is 0.53, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.53 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2023 | 0.49 |
The correlation between SOXS and TSLZ has been stable across timeframes, ranging from 0.49 to 0.53 - a consistent structural relationship.
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Return for Risk
SOXS vs. TSLZ — Risk / Return Rank
SOXS
TSLZ
SOXS vs. TSLZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Semiconductor Bear 3x Shares (SOXS) and T-Rex 2X Inverse Tesla Daily Target ETF (TSLZ). 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 | TSLZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.22 | ||
| Sortino ratioReturn per unit of downside risk | -2.13 | ||
| Omega ratioGain probability vs. loss probability | 0.74 | 0.96 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | -0.98 | -0.67 | -0.32 |
| Martin ratioReturn relative to average drawdown | -1.35 | -0.82 | -0.53 |
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Drawdowns
SOXS vs. TSLZ - Drawdown Comparison
The maximum SOXS drawdown since its inception was -100.00%, roughly equal to the maximum TSLZ drawdown of -99.11%. Use the drawdown chart below to compare losses from any high point for SOXS and TSLZ.
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Drawdown Indicators
| SOXS | TSLZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -99.11% | -0.89% |
Max Drawdown (1Y)Largest decline over 1 year | -97.89% | -69.73% | -28.16% |
Max Drawdown (3Y)Largest decline over 3 years | -99.87% | — | — |
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% | -98.47% | -1.53% |
Average DrawdownAverage peak-to-trough decline | -92.65% | -76.60% | -16.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 71.27% | 56.63% | +14.64% |
Volatility
SOXS vs. TSLZ - Volatility Comparison
Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a higher volatility of 55.41% compared to T-Rex 2X Inverse Tesla Daily Target ETF (TSLZ) at 37.13%. This indicates that SOXS's price experiences larger fluctuations and is considered to be riskier than TSLZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SOXS | TSLZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 55.41% | 37.13% | +18.28% |
Volatility (6M)Calculated over the trailing 6-month period | 117.32% | 67.39% | +49.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 132.87% | 91.79% | +41.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 114.55% | 117.68% | -3.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 103.76% | 117.68% | -13.92% |
SOXS vs. TSLZ - Expense Ratio Comparison
SOXS has a 1.08% expense ratio, which is higher than TSLZ's 1.05% expense ratio.
Dividends
SOXS vs. TSLZ - Dividend Comparison
SOXS's dividend yield for the trailing twelve months is around 41.84%, more than TSLZ's 0.47% 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% |
TSLZ T-Rex 2X Inverse Tesla Daily Target ETF | 0.47% | 0.69% | 2.08% | 12.15% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SOXS and TSLZ 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 TSLZ (37.13%). In terms of maximum drawdown, SOXS dropped -100.00% vs TSLZ's -99.11%.
On 1-year performance, TSLZ leads with -48.25% vs -96.46% for SOXS. On fees, TSLZ is cheaper at 1.05% per year. On volatility, TSLZ has been the lower-risk option at 37.13%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, TSLZ has performed better with a -48.25% return vs -96.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TSLZ is cheaper with a 1.05% expense ratio, compared with 1.08% for SOXS.
SOXS has the higher dividend yield at 41.84%, compared with 0.47% for TSLZ.
They also come from different issuers: Direxion and T-Rex. Their fees differ too: 1.08% for SOXS and 1.05% for TSLZ.
TSLZ currently has the higher Sharpe Ratio (-0.51 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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