SSG vs. SOXS
SSG (Proshares Ultrashort Semiconductors) and SOXS (Direxion Daily Semiconductor Bear 3x Shares) are both exchange-traded funds - SSG is a Leveraged Equities fund tracking the Dow Jones U.S. Semiconductors Index (-200%), while SOXS is a Inverse Equities fund tracking the PHLX Semiconductor Index (-300%). Both are passively managed. Over the past 10 years, SSG returned -61.68%/yr vs -79.04%/yr for SOXS. Their correlation of 0.93 suggests significant overlap in exposure. SSG charges 0.95%/yr vs 1.08%/yr for SOXS.
Performance
SSG vs. SOXS - Performance Comparison
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Returns By Period
In the year-to-date period, SSG achieves a -60.52% return, which is significantly higher than SOXS's -93.36% return. Over the past 10 years, SSG has outperformed SOXS with an annualized return of -61.68%, while SOXS has yielded a comparatively lower -79.04% annualized return.
SSG
- 1D
- -2.85%
- 1M
- -6.82%
- 6M
- -58.34%
- YTD
- -60.52%
- 1Y
- -74.56%
- 3Y*
- -73.78%
- 5Y*
- -66.30%
- 10Y*
- -61.68%
SOXS
- 1D
- 0.25%
- 1M
- -12.57%
- 6M
- -91.19%
- YTD
- -93.36%
- 1Y
- -97.03%
- 3Y*
- -86.75%
- 5Y*
- -80.02%
- 10Y*
- -79.04%
SSG vs. SOXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SSG Proshares Ultrashort Semiconductors | -60.52% | -70.03% | -77.59% | -78.69% | 37.90% | -67.46% | -76.50% | -63.33% | -0.79% | -51.60% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | -93.36% | -85.53% | -59.55% | -84.56% | 15.76% | -80.94% | -92.90% | -83.81% | -19.39% | -69.39% |
Correlation
The correlation between SSG and SOXS is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.84 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.92 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Mar 11, 2010 | 0.93 |
The correlation between SSG and SOXS has been stable across timeframes, ranging from 0.84 to 0.93 - a consistent structural relationship.
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Return for Risk
SSG vs. SOXS — Risk / Return Rank
SSG
SOXS
SSG vs. SOXS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Proshares Ultrashort Semiconductors (SSG) 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.
| SSG | SOXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.27 | ||
| Sortino ratioReturn per unit of downside risk | +0.77 | ||
| Omega ratioGain probability vs. loss probability | 0.77 | 0.69 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | -0.97 | -0.99 | +0.02 |
| Martin ratioReturn relative to average drawdown | -1.68 | -1.44 | -0.24 |
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Drawdowns
SSG vs. SOXS - Drawdown Comparison
The maximum SSG drawdown since its inception was -100.00%, roughly equal to the maximum SOXS drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for SSG and SOXS.
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Drawdown Indicators
| SSG | SOXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -100.00% | 0.00% |
Max Drawdown (1Y)Largest decline over 1 year | -76.63% | -97.89% | +21.26% |
Max Drawdown (3Y)Largest decline over 3 years | -98.56% | -99.87% | +1.31% |
Max Drawdown (5Y)Largest decline over 5 years | -99.66% | -99.98% | +0.32% |
Max Drawdown (10Y)Largest decline over 10 years | -99.99% | -100.00% | +0.01% |
Current DrawdownCurrent decline from peak | -100.00% | -100.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -88.63% | -92.63% | +4.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 44.44% | 67.26% | -22.82% |
Volatility
SSG vs. SOXS - Volatility Comparison
The current volatility for Proshares Ultrashort Semiconductors (SSG) is 32.61%, while Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a volatility of 65.79%. This indicates that SSG 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
| SSG | SOXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 32.61% | 65.79% | -33.18% |
Volatility (6M)Calculated over the trailing 6-month period | 57.60% | 107.64% | -50.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 71.01% | 124.35% | -53.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 78.95% | 112.87% | -33.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 69.79% | 102.78% | -32.99% |
SSG vs. SOXS - Expense Ratio Comparison
SSG has a 0.95% expense ratio, which is lower than SOXS's 1.08% expense ratio.
Dividends
SSG vs. SOXS - Dividend Comparison
SSG's dividend yield for the trailing twelve months is around 10.32%, less than SOXS's 55.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
SOXS Direxion Daily Semiconductor Bear 3x Shares | 55.65% | 10.79% | 5.45% | 9.22% | 0.19% | 0.00% | 3.58% | 2.30% | 0.76% |
SSG Proshares Ultrashort Semiconductors | 10.32% | 9.19% | 7.67% | 6.73% | 0.75% | 0.00% | 0.34% | 1.81% | 0.62% |
Frequently Asked Questions
SSG and SOXS have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXS has higher volatility (65.79%) compared to SSG (32.61%). In terms of maximum drawdown, SSG dropped -100.00% vs SOXS's -100.00%.
On 10-year performance, SSG leads with -61.68% vs -79.04% for SOXS. On fees, SSG is cheaper at 0.95% per year. On volatility, SSG has been the lower-risk option at 32.61%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SSG has performed better with a -61.68% return vs -79.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SSG is cheaper with a 0.95% expense ratio, compared with 1.08% for SOXS.
SOXS has the higher dividend yield at 55.65%, compared with 10.32% for SSG.
SSG is categorized as Leveraged Equities, while SOXS is Inverse Equities. SSG tracks Dow Jones U.S. Semiconductors Index (-200%), while SOXS tracks PHLX Semiconductor Index (-300%). They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for SSG and 1.08% for SOXS.
SOXS currently has the higher Sharpe Ratio (-0.78 vs -1.05), 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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