WEBS vs. SOXS
WEBS (Daily Dow Jones Internet Bear 3X Shares) and SOXS (Direxion Daily Semiconductor Bear 3x Shares) are both exchange-traded funds - WEBS is a Leveraged Equities fund tracking the Dow Jones Internet Composite Index (300%), while SOXS is a Inverse Equities fund tracking the PHLX Semiconductor Index (-300%). Both are passively managed. Over the past 5 years, WEBS returned -30.51%/yr vs -80.66%/yr for SOXS. A 0.68 correlation means they provide meaningful diversification when combined. WEBS charges 1.07%/yr vs 1.08%/yr for SOXS.
Performance
WEBS vs. SOXS - Performance Comparison
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Returns By Period
In the year-to-date period, WEBS achieves a 8.23% return, which is significantly higher than SOXS's -94.09% return.
WEBS
- 1D
- 4.12%
- 1M
- 20.33%
- YTD
- 8.23%
- 6M
- 12.06%
- 1Y
- -3.46%
- 3Y*
- -45.46%
- 5Y*
- -30.51%
- 10Y*
- —
SOXS
- 1D
- -11.03%
- 1M
- -41.63%
- YTD
- -94.09%
- 6M
- -93.81%
- 1Y
- -97.64%
- 3Y*
- -87.76%
- 5Y*
- -80.66%
- 10Y*
- -79.95%
WEBS vs. SOXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
WEBS Daily Dow Jones Internet Bear 3X Shares | 8.23% | -40.66% | -56.62% | -75.58% | 117.15% | -39.82% | -87.18% | -10.90% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | -94.09% | -85.53% | -59.55% | -84.56% | 15.76% | -80.94% | -92.90% | -22.08% |
Correlation
The correlation between WEBS and SOXS is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 2019 | 0.68 |
Over the past year, the correlation between WEBS and SOXS has dropped to 0.38 - well below their long-term average of 0.68, suggesting their price drivers have been diverging.
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Return for Risk
WEBS vs. SOXS — Risk / Return Rank
WEBS
SOXS
WEBS vs. SOXS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Daily Dow Jones Internet Bear 3X Shares (WEBS) 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.
| WEBS | SOXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.77 | ||
| Sortino ratioReturn per unit of downside risk | +3.71 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 0.64 | +0.40 |
| Calmar ratioReturn relative to maximum drawdown | -0.06 | -1.00 | +0.93 |
| Martin ratioReturn relative to average drawdown | -0.16 | -1.51 | +1.35 |
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Drawdowns
WEBS vs. SOXS - Drawdown Comparison
The maximum WEBS drawdown since its inception was -99.63%, roughly equal to the maximum SOXS drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for WEBS and SOXS.
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Drawdown Indicators
| WEBS | SOXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.63% | -100.00% | +0.37% |
Max Drawdown (1Y)Largest decline over 1 year | -53.54% | -97.88% | +44.34% |
Max Drawdown (3Y)Largest decline over 3 years | -90.33% | -99.87% | +9.54% |
Max Drawdown (5Y)Largest decline over 5 years | -97.09% | -99.98% | +2.89% |
Max Drawdown (10Y)Largest decline over 10 years | — | -100.00% | — |
Current DrawdownCurrent decline from peak | -99.48% | -100.00% | +0.52% |
Average DrawdownAverage peak-to-trough decline | -91.11% | -92.61% | +1.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.78% | 64.48% | -41.70% |
Volatility
WEBS vs. SOXS - Volatility Comparison
The current volatility for Daily Dow Jones Internet Bear 3X Shares (WEBS) is 22.31%, while Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a volatility of 65.23%. This indicates that WEBS 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
| WEBS | SOXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.31% | 65.23% | -42.92% |
Volatility (6M)Calculated over the trailing 6-month period | 46.50% | 100.97% | -54.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 59.59% | 117.61% | -58.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 82.14% | 111.53% | -29.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 89.73% | 102.14% | -12.41% |
WEBS vs. SOXS - Expense Ratio Comparison
WEBS has a 1.07% expense ratio, which is lower than SOXS's 1.08% expense ratio.
Dividends
WEBS vs. SOXS - Dividend Comparison
WEBS's dividend yield for the trailing twelve months is around 2.53%, less than SOXS's 62.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
SOXS Direxion Daily Semiconductor Bear 3x Shares | 62.55% | 10.79% | 5.45% | 9.22% | 0.19% | 0.00% | 3.58% | 2.30% | 0.76% |
WEBS Daily Dow Jones Internet Bear 3X Shares | 2.53% | 3.77% | 8.02% | 8.51% | 0.20% | 0.00% | 1.11% | 0.11% | 0.00% |
Frequently Asked Questions
WEBS and SOXS have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXS has higher volatility (65.23%) compared to WEBS (22.31%). In terms of maximum drawdown, WEBS dropped -99.63% vs SOXS's -100.00%.
On 5-year performance, WEBS leads with -30.51% vs -80.66% for SOXS. On fees, WEBS is cheaper at 1.07% per year. On volatility, WEBS has been the lower-risk option at 22.31%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, WEBS has performed better with a -30.51% return vs -80.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
WEBS is cheaper with a 1.07% expense ratio, compared with 1.08% for SOXS.
SOXS has the higher dividend yield at 62.55%, compared with 2.53% for WEBS.
WEBS is categorized as Leveraged Equities, while SOXS is Inverse Equities. WEBS tracks Dow Jones Internet Composite Index (300%), while SOXS tracks PHLX Semiconductor Index (-300%). Their fees differ too: 1.07% for WEBS and 1.08% for SOXS.
WEBS currently has the higher Sharpe Ratio (-0.06 vs -0.83), 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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