TECL vs. SOXS
TECL (Direxion Daily Technology Bull 3X Shares) and SOXS (Direxion Daily Semiconductor Bear 3x Shares) are both Leveraged Equities funds from Direxion - TECL tracks the Technology Select Sector Index (300%) while SOXS tracks the PHLX Semiconductor Index (-300%). Both are passively managed. Over the past 10 years, TECL returned 54.49%/yr vs -78.92%/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
Loading charts...
Returns By Period
In the year-to-date period, TECL achieves a 125.87% return, which is significantly higher than SOXS's -92.10% return. Over the past 10 years, TECL has outperformed SOXS with an annualized return of 54.49%, while SOXS has yielded a comparatively lower -78.92% annualized return.
TECL
- 1D
- -2.99%
- 1M
- 73.10%
- YTD
- 125.87%
- 6M
- 118.69%
- 1Y
- 267.85%
- 3Y*
- 80.64%
- 5Y*
- 43.44%
- 10Y*
- 54.49%
SOXS
- 1D
- -5.03%
- 1M
- -62.97%
- YTD
- -92.10%
- 6M
- -91.70%
- 1Y
- -97.75%
- 3Y*
- -86.64%
- 5Y*
- -79.66%
- 10Y*
- -78.92%
TECL vs. SOXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TECL Direxion Daily Technology Bull 3X Shares | 125.87% | 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 | -92.10% | -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 -0.81, 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 | -0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.85 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.87 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.86 |
Correlation (All Time) Calculated using the full available price history since Mar 12, 2010 | -0.85 |
The correlation between TECL and SOXS has been stable across timeframes, ranging from -0.87 to -0.81 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
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.
| TECL | SOXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +5.31 | ||
| Sortino ratioReturn per unit of downside risk | +7.61 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 0.58 | +0.90 |
| Calmar ratioReturn relative to maximum drawdown | 5.79 | -1.00 | +6.79 |
| Martin ratioReturn relative to average drawdown | 16.63 | -1.44 | +18.07 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| TECL | SOXS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.35 | -0.96 | +5.31 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.59 | -0.74 | +1.33 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.76 | -0.79 | +1.54 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.76 | -0.79 | +1.55 |
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.
Loading charts...
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% | -97.68% | +51.10% |
Max Drawdown (3Y)Largest decline over 3 years | -66.58% | -99.80% | +33.22% |
Max Drawdown (5Y)Largest decline over 5 years | -77.96% | -99.97% | +22.01% |
Max Drawdown (10Y)Largest decline over 10 years | -77.96% | -100.00% | +22.04% |
Current DrawdownCurrent decline from peak | -2.99% | -100.00% | +97.01% |
Average DrawdownAverage peak-to-trough decline | -18.38% | -92.60% | +74.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.19% | 68.64% | -52.45% |
Volatility
TECL vs. SOXS - Volatility Comparison
The current volatility for Direxion Daily Technology Bull 3X Shares (TECL) is 20.70%, while Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a volatility of 44.22%. 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.
Loading charts...
Volatility by Period
| TECL | SOXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 20.70% | 44.22% | -23.52% |
Volatility (6M)Calculated over the trailing 6-month period | 49.83% | 83.94% | -34.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 62.17% | 102.18% | -40.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 74.09% | 108.21% | -34.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 72.35% | 100.48% | -28.13% |
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 3.15%, less than SOXS's 68.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
SOXS Direxion Daily Semiconductor Bear 3x Shares | 68.34% | 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 | 3.15% | 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 -0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXS has higher volatility (44.22%) compared to TECL (20.70%). In terms of maximum drawdown, TECL dropped -77.96% vs SOXS's -100.00%.
On 10-year performance, TECL leads with 54.49% vs -78.92% for SOXS. On fees, TECL is cheaper at 0.91% per year. On volatility, TECL has been the lower-risk option at 20.70%. 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 54.49% return vs -78.92%. 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 68.34%, compared with 3.15% for TECL.
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 (4.35 vs -0.96), 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.
Find the right allocation for TECL and SOXS
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer