SOXX vs. SOXS
SOXX (iShares Semiconductor ETF) and SOXS (Direxion Daily Semiconductor Bear 3x Shares) are both exchange-traded funds - SOXX is a Semiconductors fund tracking the NYSE Semiconductor Index, while SOXS is a Inverse Equities fund tracking the PHLX Semiconductor Index (-300%). Both are passively managed. Over the past 10 years, SOXX returned 32.19%/yr vs -78.06%/yr for SOXS. Their -1.00 correlation means they have often moved in opposite directions in the past. SOXX charges 0.34%/yr vs 1.08%/yr for SOXS.
Performance
SOXX vs. SOXS - Performance Comparison
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Returns By Period
In the year-to-date period, SOXX achieves a 67.84% return, which is significantly higher than SOXS's -91.17% return. Over the past 10 years, SOXX has outperformed SOXS with an annualized return of 32.19%, while SOXS has yielded a comparatively lower -78.06% annualized return.
SOXX
- 1D
- 0.07%
- 1M
- -10.85%
- 6M
- 45.95%
- YTD
- 67.84%
- 1Y
- 113.81%
- 3Y*
- 42.35%
- 5Y*
- 28.10%
- 10Y*
- 32.19%
- ALL TIME*
- 13.83%
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%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $3.72B | $3.43B | $3.32B | |
| $6.04B | $5.84B | $5.80B |
SOXX vs. SOXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SOXX iShares Semiconductor ETF | 67.84% | 40.74% | 12.92% | 67.12% | -35.09% | 44.09% | 52.72% | 62.42% | -6.49% | 39.79% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | -91.17% | -85.53% | -59.55% | -84.56% | 15.76% | -80.94% | -92.90% | -83.81% | -19.39% | -69.39% |
Correlation
The correlation between SOXX and SOXS is -1.00, 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. | -1.00 |
Correlation (3Y) Balances recent behavior with more history. | -1.00 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -1.00 |
Correlation (10Y) Provides a long-term view across more market conditions. | -1.00 |
Correlation (All Time) Calculated using the full available price history since Mar 11, 2010 | -1.00 |
The correlation between SOXX and SOXS has been stable across timeframes, ranging from -1.00 to -1.00 - a consistent structural relationship.
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Return for Risk
SOXX vs. SOXS — Risk / Return Rank
SOXX
SOXS
SOXX vs. SOXS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Semiconductor ETF (SOXX) and Direxion Daily Semiconductor Bear 3x Shares (SOXS). 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.
| SOXX | SOXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.25 | ||
| Sortino ratioReturn per unit of downside risk | +5.29 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 0.74 | +0.65 |
| Calmar ratioReturn relative to maximum drawdown | 3.86 | -0.98 | +4.84 |
| Martin ratioReturn relative to average drawdown | 16.24 | -1.35 | +17.59 |
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Drawdowns
SOXX vs. SOXS - Drawdown Comparison
The maximum SOXX drawdown since its inception was -70.21%, smaller than the maximum SOXS drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for SOXX and SOXS.
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Drawdown Indicators
| SOXX | SOXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.21% | -100.00% | +29.79% |
Max Drawdown (1Y)Largest decline over 1 year | -29.01% | -97.89% | +68.88% |
Max Drawdown (3Y)Largest decline over 3 years | -41.36% | -99.87% | +58.51% |
Max Drawdown (5Y)Largest decline over 5 years | -45.75% | -99.98% | +54.23% |
Max Drawdown (10Y)Largest decline over 10 years | -45.75% | -100.00% | +54.25% |
Current DrawdownCurrent decline from peak | -22.92% | -100.00% | +77.08% |
Average DrawdownAverage peak-to-trough decline | -19.92% | -92.65% | +72.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.88% | 71.27% | -64.39% |
Volatility
SOXX vs. SOXS - Volatility Comparison
The current volatility for iShares Semiconductor ETF (SOXX) is 17.83%, while Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a volatility of 55.41%. This indicates that SOXX experiences smaller price fluctuations and is considered to be less risky than SOXS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SOXX | SOXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.83% | 55.41% | -37.58% |
Volatility (6M)Calculated over the trailing 6-month period | 38.92% | 117.32% | -78.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.48% | 132.87% | -88.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 38.24% | 114.55% | -76.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.54% | 103.76% | -69.22% |
SOXX vs. SOXS - Expense Ratio Comparison
SOXX has a 0.34% expense ratio, which is lower than SOXS's 1.08% expense ratio.
Dividends
SOXX vs. SOXS - Dividend Comparison
SOXX's dividend yield for the trailing twelve months is around 0.29%, less than SOXS's 41.84% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% | 0.00% |
SOXX iShares Semiconductor ETF | 0.29% | 0.57% | 0.67% | 0.78% | 1.26% | 0.64% | 0.81% | 1.23% | 1.37% | 0.90% | 1.08% | 1.29% |
Frequently Asked Questions
SOXX and SOXS have a correlation of -1.00, 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 SOXX (17.83%). In terms of maximum drawdown, SOXX dropped -70.21% vs SOXS's -100.00%.
On 10-year performance, SOXX leads with 32.19% vs -78.06% for SOXS. On fees, SOXX is cheaper at 0.34% per year. On volatility, SOXX has been the lower-risk option at 17.83%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SOXX has performed better with a 32.19% return vs -78.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SOXX is cheaper with a 0.34% expense ratio, compared with 1.08% for SOXS.
SOXS has the higher dividend yield at 41.84%, compared with 0.29% for SOXX.
SOXX is categorized as Semiconductors, while SOXS is Inverse Equities. SOXX tracks NYSE Semiconductor Index, while SOXS tracks PHLX Semiconductor Index (-300%). They also come from different issuers: iShares and Direxion. Their fees differ too: 0.34% for SOXX and 1.08% for SOXS.
SOXX currently has the higher Sharpe Ratio (2.53 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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