SOXS vs. YXI
SOXS (Direxion Daily Semiconductor Bear 3x Shares) and YXI (ProShares Short FTSE China 50) are both Inverse Equities funds - SOXS tracks the PHLX Semiconductor Index (-300%) while YXI tracks the FTSE China 50 Net Tax USD (TR) (-100%). Both are passively managed. Over the past 10 years, SOXS returned -79.95%/yr vs -7.94%/yr for YXI. At a 0.49 correlation, their price movements are largely independent. SOXS charges 1.08%/yr vs 0.95%/yr for YXI.
Performance
SOXS vs. YXI - 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 YXI's 14.28% return. Over the past 10 years, SOXS has underperformed YXI with an annualized return of -79.95%, while YXI has yielded a comparatively higher -7.94% 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%
YXI
- 1D
- -1.16%
- 1M
- 5.51%
- YTD
- 14.28%
- 6M
- 15.46%
- 1Y
- 6.22%
- 3Y*
- -10.67%
- 5Y*
- -1.92%
- 10Y*
- -7.94%
SOXS vs. YXI - 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% |
YXI ProShares Short FTSE China 50 | 14.28% | -22.87% | -25.36% | 12.40% | 4.78% | 13.94% | -17.95% | -14.35% | 9.63% | -28.43% |
Correlation
The correlation between SOXS and YXI is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.36 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.39 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since Mar 18, 2010 | 0.49 |
The correlation between SOXS and YXI shifts across timeframes, from 0.36 (3 years) to 0.49 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SOXS vs. YXI — Risk / Return Rank
SOXS
YXI
SOXS vs. YXI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Semiconductor Bear 3x Shares (SOXS) and ProShares Short FTSE China 50 (YXI). 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 | YXI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.17 | ||
| Sortino ratioReturn per unit of downside risk | -4.26 | ||
| Omega ratioGain probability vs. loss probability | 0.61 | 1.07 | -0.46 |
| Calmar ratioReturn relative to maximum drawdown | -1.00 | 0.48 | -1.48 |
| Martin ratioReturn relative to average drawdown | -1.46 | 0.91 | -2.36 |
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Drawdowns
SOXS vs. YXI - Drawdown Comparison
The maximum SOXS drawdown since its inception was -100.00%, which is greater than YXI's maximum drawdown of -81.15%. Use the drawdown chart below to compare losses from any high point for SOXS and YXI.
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Drawdown Indicators
| SOXS | YXI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -81.15% | -18.85% |
Max Drawdown (1Y)Largest decline over 1 year | -98.17% | -13.05% | -85.12% |
Max Drawdown (3Y)Largest decline over 3 years | -99.87% | -53.12% | -46.75% |
Max Drawdown (5Y)Largest decline over 5 years | -99.98% | -57.65% | -42.33% |
Max Drawdown (10Y)Largest decline over 10 years | -100.00% | -64.92% | -35.08% |
Current DrawdownCurrent decline from peak | -100.00% | -76.67% | -23.33% |
Average DrawdownAverage peak-to-trough decline | -92.60% | -54.36% | -38.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 67.64% | 7.79% | +59.85% |
Volatility
SOXS vs. YXI - Volatility Comparison
Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a higher volatility of 61.89% compared to ProShares Short FTSE China 50 (YXI) at 6.46%. This indicates that SOXS's price experiences larger fluctuations and is considered to be riskier than YXI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SOXS | YXI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 61.89% | 6.46% | +55.43% |
Volatility (6M)Calculated over the trailing 6-month period | 97.94% | 15.45% | +82.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 115.12% | 20.08% | +95.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 110.92% | 31.47% | +79.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 101.99% | 27.45% | +74.54% |
SOXS vs. YXI - Expense Ratio Comparison
SOXS has a 1.08% expense ratio, which is higher than YXI's 0.95% expense ratio.
Dividends
SOXS vs. YXI - Dividend Comparison
SOXS's dividend yield for the trailing twelve months is around 101.68%, more than YXI's 2.69% yield.
| 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% |
YXI ProShares Short FTSE China 50 | 2.69% | 3.60% | 4.35% | 2.66% | 0.27% | 0.00% | 0.08% | 1.01% | 0.25% |
Frequently Asked Questions
SOXS and YXI have a correlation of 0.43, 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 YXI (6.46%). In terms of maximum drawdown, SOXS dropped -100.00% vs YXI's -81.15%.
On 10-year performance, YXI leads with -7.94% vs -79.95% for SOXS. On fees, YXI is cheaper at 0.95% per year. On volatility, YXI has been the lower-risk option at 6.46%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, YXI has performed better with a -7.94% return vs -79.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
YXI is cheaper with a 0.95% expense ratio, compared with 1.08% for SOXS.
SOXS has the higher dividend yield at 101.68%, compared with 2.69% for YXI.
SOXS tracks PHLX Semiconductor Index (-300%), while YXI tracks FTSE China 50 Net Tax USD (TR) (-100%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.08% for SOXS and 0.95% for YXI.
YXI currently has the higher Sharpe Ratio (0.31 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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