TSXD vs. SOXL

Last updated Jun 30, 2026

TSXD (Direxion Daily Semiconductors Top 5 Bear 2X ETF) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both exchange-traded funds - TSXD is a Inverse Equities fund actively managed by Direxion, while SOXL is a Leveraged Equities fund tracking the ICE Semiconductor Index. TSXD is actively managed, while SOXL is passively managed. At a correlation of -0.87, they often move in opposite directions.

Performance

TSXD vs. SOXL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Semiconductors Top 5 Bear 2X ETF (TSXD) and Direxion Daily Semiconductor Bull 3X ETF (SOXL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TSXD achieves a -69.35% return, which is significantly lower than SOXL's 462.74% return.

TSXD

• 1D: -4.50%
• 1M: -18.13%
• YTD: -69.35%
• 6M: -69.26%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SOXL

• 1D: 9.70%
• 1M: 5.43%
• YTD: 462.74%
• 6M: 439.75%
• 1Y: 842.21%
• 3Y*: 113.30%
• 5Y*: 40.49%
• 10Y*: 64.44%

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

TSXD vs. SOXL - Yearly Performance Comparison

	2026 (YTD)	2025
TSXD Direxion Daily Semiconductors Top 5 Bear 2X ETF	-69.35%	-19.22%
SOXL Direxion Daily Semiconductor Bull 3X ETF	462.74%	20.64%

Correlation

The correlation between TSXD and SOXL is -0.87, 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 (All Time) Calculated using the full available price history since Oct 1, 2025	-0.87

Return for Risk

TSXD vs. SOXL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TSXD

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

SOXL

SOXL Risk / Return Rank: 96
SOXL Sharpe Ratio Rank: 99
SOXL Sortino Ratio Rank: 92
SOXL Omega Ratio Rank: 93
SOXL Calmar Ratio Rank: 99
SOXL Martin Ratio Rank: 98

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TSXD vs. SOXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Semiconductors Top 5 Bear 2X ETF (TSXD) and Direxion Daily Semiconductor Bull 3X ETF (SOXL). 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.

	TSXD	SOXL	Difference
Sharpe ratio: Return per unit of total volatility	—	7.21	—
Sortino ratio: Return per unit of downside risk	—	3.81	—
Omega ratio: Gain probability vs. loss probability	—	1.54	—
Calmar ratio: Return relative to maximum drawdown	—	19.57	—
Martin ratio: Return relative to average drawdown	—	61.45	—

Drawdowns

TSXD vs. SOXL - Drawdown Comparison

The maximum TSXD drawdown since its inception was -78.82%, smaller than the maximum SOXL drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for TSXD and SOXL.

Drawdown Indicators

	TSXD	SOXL	Difference
Max Drawdown Largest peak-to-trough decline	-78.82%	-90.46%	+11.64%
Max Drawdown (1Y) Largest decline over 1 year	—	-43.47%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-87.88%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-90.46%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-90.46%	—
Current Drawdown Current decline from peak	-76.38%	-21.36%	-55.02%
Average Drawdown Average peak-to-trough decline	-38.18%	-34.94%	-3.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	13.82%	—

Volatility

Volatility by Period

	TSXD	SOXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	69.21%	—
Volatility (6M) Calculated over the trailing 6-month period	—	101.76%	—
Volatility (1Y) Calculated over the trailing 1-year period	85.81%	118.30%	-32.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	85.81%	110.65%	-24.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	85.81%	100.69%	-14.88%

Dividends

TSXD vs. SOXL - Dividend Comparison

TSXD's dividend yield for the trailing twelve months is around 5.68%, while SOXL has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
SOXL Direxion Daily Semiconductor Bull 3X ETF	0.00%	0.34%	1.18%	0.51%	1.07%	0.04%	0.05%	0.38%	1.30%	0.09%	4.84%
TSXD Direxion Daily Semiconductors Top 5 Bear 2X ETF	5.68%	1.03%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TSXD and SOXL in my portfolio?

TSXD and SOXL have a correlation of -0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF pays a higher dividend yield, TSXD or SOXL?

TSXD has the higher dividend yield at 5.68%, compared with 0.00% for SOXL.

What is the main difference between TSXD and SOXL?

TSXD is categorized as Inverse Equities, while SOXL is Leveraged Equities.