TYO vs. SOXS
TYO (Direxion Daily 7-10 Year Treasury Bear 3X) and SOXS (Direxion Daily Semiconductor Bear 3x Shares) are both exchange-traded funds - TYO is a Leveraged Bonds fund tracking the NYSE 7-10 Year Treasury Bond Index, while SOXS is a Leveraged Equities fund tracking the PHLX Semiconductor Index (-300%). Both are passively managed. Over the past 10 years, TYO returned 1.79%/yr vs -78.92%/yr for SOXS. At a correlation of -0.19, they often move in opposite directions. Both charge a 1.08% expense ratio.
Performance
TYO vs. SOXS - Performance Comparison
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Returns By Period
In the year-to-date period, TYO achieves a 8.03% return, which is significantly higher than SOXS's -92.10% return. Over the past 10 years, TYO has outperformed SOXS with an annualized return of 1.79%, while SOXS has yielded a comparatively lower -78.92% annualized return.
TYO
- 1D
- 1.07%
- 1M
- 1.54%
- YTD
- 8.03%
- 6M
- 11.18%
- 1Y
- 3.00%
- 3Y*
- 7.71%
- 5Y*
- 12.51%
- 10Y*
- 1.79%
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%
TYO vs. SOXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TYO Direxion Daily 7-10 Year Treasury Bear 3X | 8.03% | -7.64% | 18.94% | 1.06% | 58.83% | 7.47% | -28.56% | -18.71% | -1.42% | -8.94% |
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 TYO and SOXS is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.08 |
Correlation (All Time) Calculated using the full available price history since Mar 12, 2010 | -0.19 |
The correlation between TYO and SOXS shifts across timeframes, from -0.19 (all time) to 0.08 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
TYO vs. SOXS — Risk / Return Rank
TYO
SOXS
TYO vs. SOXS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily 7-10 Year Treasury Bear 3X (TYO) 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.
| TYO | SOXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.17 | ||
| Sortino ratioReturn per unit of downside risk | +4.34 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 0.58 | +0.46 |
| Calmar ratioReturn relative to maximum drawdown | 0.29 | -1.00 | +1.29 |
| Martin ratioReturn relative to average drawdown | 0.51 | -1.44 | +1.95 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TYO | SOXS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.21 | -0.96 | +1.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.54 | -0.74 | +1.28 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.09 | -0.79 | +0.88 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.34 | -0.79 | +0.45 |
Drawdowns
TYO vs. SOXS - Drawdown Comparison
The maximum TYO drawdown since its inception was -89.25%, smaller than the maximum SOXS drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for TYO and SOXS.
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Drawdown Indicators
| TYO | SOXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.25% | -100.00% | +10.75% |
Max Drawdown (1Y)Largest decline over 1 year | -10.48% | -97.68% | +87.20% |
Max Drawdown (3Y)Largest decline over 3 years | -24.40% | -99.80% | +75.40% |
Max Drawdown (5Y)Largest decline over 5 years | -24.40% | -99.97% | +75.57% |
Max Drawdown (10Y)Largest decline over 10 years | -52.21% | -100.00% | +47.79% |
Current DrawdownCurrent decline from peak | -77.19% | -100.00% | +22.81% |
Average DrawdownAverage peak-to-trough decline | -71.09% | -92.60% | +21.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.85% | 68.64% | -62.79% |
Volatility
TYO vs. SOXS - Volatility Comparison
The current volatility for Direxion Daily 7-10 Year Treasury Bear 3X (TYO) is 4.94%, while Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a volatility of 44.22%. This indicates that TYO 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
| TYO | SOXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.94% | 44.22% | -39.28% |
Volatility (6M)Calculated over the trailing 6-month period | 10.14% | 83.94% | -73.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.56% | 102.18% | -87.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.23% | 108.21% | -84.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.19% | 100.48% | -80.29% |
TYO vs. SOXS - Expense Ratio Comparison
Both TYO and SOXS have an expense ratio of 1.08%.
Dividends
TYO vs. SOXS - Dividend Comparison
TYO's dividend yield for the trailing twelve months is around 2.82%, less than SOXS's 68.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
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% |
TYO Direxion Daily 7-10 Year Treasury Bear 3X | 2.82% | 3.69% | 4.22% | 3.62% | 0.09% | 0.00% | 0.36% | 1.58% | 0.32% |
Frequently Asked Questions
TYO and SOXS have a correlation of 0.08, 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 TYO (4.94%). In terms of maximum drawdown, TYO dropped -89.25% vs SOXS's -100.00%.
On 10-year performance, TYO leads with 1.79% vs -78.92% for SOXS. Both ETFs have the same 1.08% expense ratio. On volatility, TYO has been the lower-risk option at 4.94%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, TYO has performed better with a 1.79% return vs -78.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TYO and SOXS have the same expense ratio: 1.08% per year.
SOXS has the higher dividend yield at 68.34%, compared with 2.82% for TYO.
TYO is categorized as Leveraged Bonds, while SOXS is Leveraged Equities. TYO tracks NYSE 7-10 Year Treasury Bond Index, while SOXS tracks PHLX Semiconductor Index (-300%).
TYO currently has the higher Sharpe Ratio (0.21 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.
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