TSLL vs. SOXS
TSLL (Direxion Daily TSLA Bull 2X ETF) and SOXS (Direxion Daily Semiconductor Bear 3x Shares) are both exchange-traded funds - TSLL is a Leveraged Equities fund actively managed by Direxion, while SOXS is a Inverse Equities fund tracking the PHLX Semiconductor Index (-300%). TSLL is actively managed, while SOXS is passively managed. Over the past 3 years, TSLL returned -11.73%/yr vs -84.87%/yr for SOXS. At a correlation of -0.49, they often move in opposite directions. TSLL charges 0.83%/yr vs 1.08%/yr for SOXS.
Performance
TSLL vs. SOXS - Performance Comparison
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Returns By Period
In the year-to-date period, TSLL achieves a -36.12% return, which is significantly higher than SOXS's -91.53% return.
TSLL
- 1D
- -1.64%
- 1M
- -9.93%
- 6M
- -32.10%
- YTD
- -36.12%
- 1Y
- 7.23%
- 3Y*
- -11.73%
- 5Y*
- —
- 10Y*
- —
SOXS
- 1D
- 13.14%
- 1M
- 13.65%
- 6M
- -87.79%
- YTD
- -91.53%
- 1Y
- -96.24%
- 3Y*
- -84.87%
- 5Y*
- -79.52%
- 10Y*
- -78.37%
TSLL vs. SOXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
TSLL Direxion Daily TSLA Bull 2X ETF | -36.12% | -26.80% | 99.63% | 139.86% | -74.99% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | -91.53% | -85.53% | -59.55% | -84.56% | 5.91% |
Correlation
The correlation between TSLL and SOXS is -0.50, 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 | -0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.49 |
Correlation (All Time) Calculated using the full available price history since Aug 9, 2022 | -0.49 |
The correlation between TSLL and SOXS has been stable across timeframes, ranging from -0.50 to -0.49 - a consistent structural relationship.
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Return for Risk
TSLL vs. SOXS — Risk / Return Rank
TSLL
SOXS
TSLL vs. SOXS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily TSLA Bull 2X ETF (TSLL) 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.
| TSLL | SOXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.84 | ||
| Sortino ratioReturn per unit of downside risk | +3.41 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 0.72 | +0.37 |
| Calmar ratioReturn relative to maximum drawdown | 0.13 | -0.98 | +1.12 |
| Martin ratioReturn relative to average drawdown | 0.25 | -1.41 | +1.66 |
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Drawdowns
TSLL vs. SOXS - Drawdown Comparison
The maximum TSLL drawdown since its inception was -82.88%, smaller than the maximum SOXS drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for TSLL and SOXS.
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Drawdown Indicators
| TSLL | SOXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.88% | -100.00% | +17.12% |
Max Drawdown (1Y)Largest decline over 1 year | -54.75% | -97.89% | +43.14% |
Max Drawdown (3Y)Largest decline over 3 years | -82.88% | -99.87% | +16.99% |
Max Drawdown (5Y)Largest decline over 5 years | — | -99.98% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -100.00% | — |
Current DrawdownCurrent decline from peak | -67.74% | -100.00% | +32.26% |
Average DrawdownAverage peak-to-trough decline | -54.11% | -92.63% | +38.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.95% | 68.36% | -39.41% |
Volatility
TSLL vs. SOXS - Volatility Comparison
The current volatility for Direxion Daily TSLA Bull 2X ETF (TSLL) is 33.55%, while Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a volatility of 59.41%. This indicates that TSLL 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
| TSLL | SOXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 33.55% | 59.41% | -25.86% |
Volatility (6M)Calculated over the trailing 6-month period | 62.28% | 109.76% | -47.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 89.11% | 126.44% | -37.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 107.11% | 113.26% | -6.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 107.11% | 103.02% | +4.09% |
TSLL vs. SOXS - Expense Ratio Comparison
TSLL has a 0.83% expense ratio, which is lower than SOXS's 1.08% expense ratio.
Dividends
TSLL vs. SOXS - Dividend Comparison
TSLL's dividend yield for the trailing twelve months is around 8.20%, less than SOXS's 43.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
SOXS Direxion Daily Semiconductor Bear 3x Shares | 43.65% | 10.79% | 5.45% | 9.22% | 0.19% | 0.00% | 3.58% | 2.30% | 0.76% |
TSLL Direxion Daily TSLA Bull 2X ETF | 8.20% | 5.00% | 2.47% | 4.44% | 1.57% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TSLL and SOXS have a correlation of -0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXS has higher volatility (59.41%) compared to TSLL (33.55%). In terms of maximum drawdown, TSLL dropped -82.88% vs SOXS's -100.00%.
On 3-year performance, TSLL leads with -11.73% vs -84.87% for SOXS. On fees, TSLL is cheaper at 0.83% per year. On volatility, TSLL has been the lower-risk option at 33.55%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, TSLL has performed better with a -11.73% return vs -84.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TSLL is cheaper with a 0.83% expense ratio, compared with 1.08% for SOXS.
SOXS has the higher dividend yield at 43.65%, compared with 8.20% for TSLL.
TSLL is categorized as Leveraged Equities, while SOXS is Inverse Equities. Their fees differ too: 0.83% for TSLL and 1.08% for SOXS.
TSLL currently has the higher Sharpe Ratio (0.08 vs -0.76), 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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