TPRF.TO vs. SOXS

Last updated Aug 4, 2026

TPRF.TO (TD Active Preferred Share ETF) and SOXS (Direxion Daily Semiconductor Bear 3x Shares) are both exchange-traded funds - TPRF.TO is a Preferred Stock fund actively managed by TD, while SOXS is a Inverse Equities fund tracking the PHLX Semiconductor Index (-300%). TPRF.TO is actively managed, while SOXS is passively managed. Over the past 5 years, TPRF.TO returned 9.09%/yr vs -77.76%/yr for SOXS. Their -0.20 correlation means they have often moved in opposite directions in the past. TPRF.TO charges 0.50%/yr vs 1.08%/yr for SOXS.

Performance

TPRF.TO vs. SOXS - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in TD Active Preferred Share ETF (TPRF.TO) and Direxion Daily Semiconductor Bear 3x Shares (SOXS). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

TPRF.TO is traded in CAD, while SOXS is traded in USD. To make them comparable, the SOXS values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, TPRF.TO achieves a 8.09% return, which is significantly higher than SOXS's -91.16% return.

TPRF.TO

• 1D: 0.00%
• 1M: 2.47%
• 6M: 7.74%
• YTD: 8.09%
• 1Y: 15.42%
• 3Y*: 19.85%
• 5Y*: 9.09%
• 10Y*: —
• ALL TIME*: 8.99%

SOXS

• 1D: -2.18%
• 1M: 16.00%
• 6M: -84.98%
• YTD: -91.16%
• 1Y: -96.50%
• 3Y*: -84.96%
• 5Y*: -77.76%
• 10Y*: -77.79%
• ALL TIME*: -70.27%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SOXS Direxion Daily Semiconductor Bear 3x Shares	CA$5.35B	CA$4.80B	CA$4.69B
TPRF.TO TD Active Preferred Share ETF	CA$229.28K	CA$251.70K	CA$237.28K

TPRF.TO vs. SOXS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
TPRF.TO TD Active Preferred Share ETF	8.09%	18.21%	28.67%	5.53%	-15.46%	31.78%	4.65%	12.00%	-14.27%
SOXS Direxion Daily Semiconductor Bear 3x Shares	-91.16%	-86.19%	-56.12%	-84.93%	23.09%	-80.95%	-93.07%	-84.48%	2.37%

Correlation

The correlation between TPRF.TO and SOXS is -0.16, 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.	-0.16
Correlation (3Y) Balances recent behavior with more history.	-0.18
Correlation (5Y) Shows whether the relationship held over a longer period.	-0.20
Correlation (All Time) Calculated using the full available price history since Nov 14, 2018	-0.20

Return for Risk

TPRF.TO vs. SOXS — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TPRF.TO

TPRF.TO Risk / Return Rank: 97
TPRF.TO Sharpe Ratio Rank: 97
TPRF.TO Sortino Ratio Rank: 97
TPRF.TO Omega Ratio Rank: 97
TPRF.TO Calmar Ratio Rank: 95
TPRF.TO Martin Ratio Rank: 97

SOXS

SOXS Risk / Return Rank: 1
SOXS Sharpe Ratio Rank: 3
SOXS Sortino Ratio Rank: 0
SOXS Omega Ratio Rank: 0
SOXS Calmar Ratio Rank: 0
SOXS Martin Ratio Rank: 2

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

TPRF.TO vs. SOXS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TD Active Preferred Share ETF (TPRF.TO) 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.

	TPRF.TO	SOXS	Difference
Sharpe ratio: Return per unit of total volatility	3.61	-0.73	+4.34
Sortino ratio: Return per unit of downside risk	5.21	-2.51	+7.72
Omega ratio: Gain probability vs. loss probability	1.78	0.73	+1.05
Calmar ratio: Return relative to maximum drawdown	5.80	-0.99	+6.78
Martin ratio: Return relative to average drawdown	31.91	-1.35	+33.26

TPRF.TO vs. SOXS - Sharpe Ratio Comparison

The current TPRF.TO Sharpe Ratio is 3.61, which is higher than the SOXS Sharpe Ratio of -0.73. The chart below compares the historical Sharpe Ratios of TPRF.TO and SOXS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

TPRF.TO vs. SOXS - Drawdown Comparison

The maximum TPRF.TO drawdown since its inception was -44.80%, smaller than the maximum SOXS drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for TPRF.TO and SOXS.

Drawdown Indicators

	TPRF.TO	SOXS	Difference
Max Drawdown Largest peak-to-trough decline	-44.80%	-100.00%	+55.20%
Max Drawdown (1Y) Largest decline over 1 year	-2.49%	-97.83%	+95.34%
Max Drawdown (3Y) Largest decline over 3 years	-8.39%	-99.87%	+91.48%
Max Drawdown (5Y) Largest decline over 5 years	-23.90%	-99.98%	+76.08%
Max Drawdown (10Y) Largest decline over 10 years	—	-100.00%	—
Current Drawdown Current decline from peak	0.00%	-100.00%	+100.00%
Average Drawdown Average peak-to-trough decline	-7.47%	-92.83%	+85.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.46%	71.50%	-71.04%

Volatility

TPRF.TO vs. SOXS - Volatility Comparison

The current volatility for TD Active Preferred Share ETF (TPRF.TO) is 1.06%, while Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a volatility of 53.73%. This indicates that TPRF.TO 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.

Volatility by Period

	TPRF.TO	SOXS	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.06%	53.73%	-52.67%
Volatility (6M) Calculated over the trailing 6-month period	2.65%	116.49%	-113.84%
Volatility (1Y) Calculated over the trailing 1-year period	4.04%	132.79%	-128.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.62%	114.67%	-105.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.20%	103.88%	-88.68%

TPRF.TO vs. SOXS - Expense Ratio Comparison

TPRF.TO has a 0.50% expense ratio, which is lower than SOXS's 1.08% expense ratio.

Dividends

TPRF.TO vs. SOXS - Dividend Comparison

TPRF.TO's dividend yield for the trailing twelve months is around 4.52%, less than SOXS's 42.78% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
SOXS Direxion Daily Semiconductor Bear 3x Shares	42.78%	10.79%	5.45%	9.22%	0.19%	0.00%	3.58%	2.30%	0.76%
TPRF.TO TD Active Preferred Share ETF	4.52%	4.36%	4.56%	5.74%	4.99%	4.04%	5.09%	5.05%	0.00%

Frequently Asked Questions

Can I hold both TPRF.TO and SOXS in my portfolio?

TPRF.TO and SOXS have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TPRF.TO or SOXS?

On fees, TPRF.TO is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TPRF.TO or SOXS?

TPRF.TO is cheaper with a 0.50% expense ratio, compared with 1.08% for SOXS.

What is the main difference between TPRF.TO and SOXS?

TPRF.TO is categorized as Preferred Stock, while SOXS is Inverse Equities. They also come from different issuers: TD and Direxion. Their fees differ too: 0.50% for TPRF.TO and 1.08% for SOXS.