TECL vs. SOXS
TECL (Direxion Daily Technology Bull 3X Shares) and SOXS (Direxion Daily Semiconductor Bear 3x Shares) are both exchange-traded funds - TECL is a Leveraged Equities fund tracking the Technology Select Sector Index (300%), while SOXS is a Inverse Equities fund tracking the PHLX Semiconductor Index (-300%). Both are passively managed. Over the past 10 years, TECL returned 48.85%/yr vs -78.74%/yr for SOXS. At a correlation of -0.85, they often move in opposite directions. TECL charges 0.91%/yr vs 1.08%/yr for SOXS.
Performance
TECL vs. SOXS - Performance Comparison
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Returns By Period
In the year-to-date period, TECL achieves a 68.11% return, which is significantly higher than SOXS's -92.52% return. Over the past 10 years, TECL has outperformed SOXS with an annualized return of 48.85%, while SOXS has yielded a comparatively lower -78.74% annualized return.
TECL
- 1D
- -3.04%
- 1M
- -17.52%
- 6M
- 66.64%
- YTD
- 68.11%
- 1Y
- 114.01%
- 3Y*
- 56.12%
- 5Y*
- 29.60%
- 10Y*
- 48.85%
SOXS
- 1D
- 7.43%
- 1M
- 17.74%
- 6M
- -89.72%
- YTD
- -92.52%
- 1Y
- -96.66%
- 3Y*
- -85.83%
- 5Y*
- -80.02%
- 10Y*
- -78.74%
TECL vs. SOXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TECL Direxion Daily Technology Bull 3X Shares | 68.11% | 38.60% | 36.15% | 203.14% | -74.32% | 112.80% | 69.46% | 185.58% | -24.03% | 124.82% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | -92.52% | -85.53% | -59.55% | -84.56% | 15.76% | -80.94% | -92.90% | -83.81% | -19.39% | -69.39% |
Correlation
The correlation between TECL and SOXS is -0.85, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.85 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.86 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.88 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.86 |
Correlation (All Time) Calculated using the full available price history since Mar 11, 2010 | -0.85 |
The correlation between TECL and SOXS has been stable across timeframes, ranging from -0.88 to -0.85 - a consistent structural relationship.
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Return for Risk
TECL vs. SOXS — Risk / Return Rank
TECL
SOXS
TECL vs. SOXS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Technology Bull 3X Shares (TECL) 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.
| TECL | SOXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.34 | ||
| Sortino ratioReturn per unit of downside risk | +4.80 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 0.70 | +0.56 |
| Calmar ratioReturn relative to maximum drawdown | 2.46 | -0.99 | +3.45 |
| Martin ratioReturn relative to average drawdown | 6.38 | -1.42 | +7.80 |
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Drawdowns
TECL vs. SOXS - Drawdown Comparison
The maximum TECL drawdown since its inception was -77.96%, smaller than the maximum SOXS drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for TECL and SOXS.
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Drawdown Indicators
| TECL | SOXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.96% | -100.00% | +22.04% |
Max Drawdown (1Y)Largest decline over 1 year | -46.58% | -97.89% | +51.31% |
Max Drawdown (3Y)Largest decline over 3 years | -66.58% | -99.87% | +33.29% |
Max Drawdown (5Y)Largest decline over 5 years | -77.96% | -99.98% | +22.02% |
Max Drawdown (10Y)Largest decline over 10 years | -77.96% | -100.00% | +22.04% |
Current DrawdownCurrent decline from peak | -27.80% | -100.00% | +72.20% |
Average DrawdownAverage peak-to-trough decline | -18.40% | -92.63% | +74.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.93% | 68.09% | -50.16% |
Volatility
TECL vs. SOXS - Volatility Comparison
The current volatility for Direxion Daily Technology Bull 3X Shares (TECL) is 31.14%, while Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a volatility of 61.18%. This indicates that TECL 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
| TECL | SOXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 31.14% | 61.18% | -30.04% |
Volatility (6M)Calculated over the trailing 6-month period | 62.65% | 108.85% | -46.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 72.88% | 125.65% | -52.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 76.06% | 113.15% | -37.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 73.24% | 102.95% | -29.71% |
TECL vs. SOXS - Expense Ratio Comparison
TECL has a 0.91% expense ratio, which is lower than SOXS's 1.08% expense ratio.
Dividends
TECL vs. SOXS - Dividend Comparison
TECL's dividend yield for the trailing twelve months is around 4.23%, less than SOXS's 49.38% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
SOXS Direxion Daily Semiconductor Bear 3x Shares | 49.38% | 10.79% | 5.45% | 9.22% | 0.19% | 0.00% | 3.58% | 2.30% | 0.76% | 0.00% |
TECL Direxion Daily Technology Bull 3X Shares | 4.23% | 7.19% | 0.29% | 0.28% | 0.22% | 0.32% | 0.52% | 0.25% | 0.47% | 0.10% |
Frequently Asked Questions
TECL and SOXS have a correlation of -0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXS has higher volatility (61.18%) compared to TECL (31.14%). In terms of maximum drawdown, TECL dropped -77.96% vs SOXS's -100.00%.
On 10-year performance, TECL leads with 48.85% vs -78.74% for SOXS. On fees, TECL is cheaper at 0.91% per year. On volatility, TECL has been the lower-risk option at 31.14%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, TECL has performed better with a 48.85% return vs -78.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TECL is cheaper with a 0.91% expense ratio, compared with 1.08% for SOXS.
SOXS has the higher dividend yield at 49.38%, compared with 4.23% for TECL.
TECL is categorized as Leveraged Equities, while SOXS is Inverse Equities. TECL tracks Technology Select Sector Index (300%), while SOXS tracks PHLX Semiconductor Index (-300%). Their fees differ too: 0.91% for TECL and 1.08% for SOXS.
TECL currently has the higher Sharpe Ratio (1.57 vs -0.77), 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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