WEBS vs. SOXS
WEBS (Daily Dow Jones Internet Bear 3X Shares) and SOXS (Direxion Daily Semiconductor Bear 3x Shares) are both Leveraged Equities funds from Direxion - WEBS tracks the Dow Jones Internet Composite Index (300%) while SOXS tracks the PHLX Semiconductor Index (-300%). Both are passively managed. Over the past 5 years, WEBS returned -36.70%/yr vs -79.66%/yr for SOXS. A 0.69 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 -16.82% return, which is significantly higher than SOXS's -92.10% return.
WEBS
- 1D
- 5.89%
- 1M
- -13.46%
- YTD
- -16.82%
- 6M
- -14.14%
- 1Y
- -30.71%
- 3Y*
- -49.47%
- 5Y*
- -36.70%
- 10Y*
- —
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%
WEBS vs. SOXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
WEBS Daily Dow Jones Internet Bear 3X Shares | -16.82% | -40.66% | -56.62% | -75.58% | 117.15% | -39.82% | -87.18% | -13.16% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | -92.10% | -85.53% | -59.55% | -84.56% | 15.76% | -80.94% | -92.90% | -20.38% |
Correlation
The correlation between WEBS and SOXS is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Nov 8, 2019 | 0.69 |
Over the past year, the correlation between WEBS and SOXS has dropped to 0.40 - well below their long-term average of 0.69, 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.
| WEBS | SOXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.42 | ||
| Sortino ratioReturn per unit of downside risk | +3.43 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 0.58 | +0.36 |
| Calmar ratioReturn relative to maximum drawdown | -0.58 | -1.00 | +0.43 |
| Martin ratioReturn relative to average drawdown | -1.33 | -1.44 | +0.11 |
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
| WEBS | SOXS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.54 | -0.96 | +0.42 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.45 | -0.74 | +0.29 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.79 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.59 | -0.79 | +0.20 |
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% | -97.68% | +44.14% |
Max Drawdown (3Y)Largest decline over 3 years | -90.33% | -99.80% | +9.47% |
Max Drawdown (5Y)Largest decline over 5 years | -97.09% | -99.97% | +2.88% |
Max Drawdown (10Y)Largest decline over 10 years | — | -100.00% | — |
Current DrawdownCurrent decline from peak | -99.60% | -100.00% | +0.40% |
Average DrawdownAverage peak-to-trough decline | -91.09% | -92.60% | +1.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.19% | 68.64% | -45.45% |
Volatility
WEBS vs. SOXS - Volatility Comparison
The current volatility for Daily Dow Jones Internet Bear 3X Shares (WEBS) is 15.72%, while Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a volatility of 44.22%. 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 | 15.72% | 44.22% | -28.50% |
Volatility (6M)Calculated over the trailing 6-month period | 43.46% | 83.94% | -40.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.60% | 102.18% | -44.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 81.81% | 108.21% | -26.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 89.84% | 100.48% | -10.64% |
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 3.92%, 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% |
WEBS Daily Dow Jones Internet Bear 3X Shares | 3.92% | 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 0.40, 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 WEBS (15.72%). In terms of maximum drawdown, WEBS dropped -99.63% vs SOXS's -100.00%.
On 5-year performance, WEBS leads with -36.70% vs -79.66% for SOXS. On fees, WEBS is cheaper at 1.07% per year. On volatility, WEBS has been the lower-risk option at 15.72%. 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 -36.70% return vs -79.66%. 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 68.34%, compared with 3.92% for WEBS.
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 (-0.54 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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