XSD vs. SOXS
XSD (SPDR S&P Semiconductor ETF) and SOXS (Direxion Daily Semiconductor Bear 3x Shares) are both exchange-traded funds - XSD is a Semiconductors fund tracking the S&P Semiconductor Select Industry Index, while SOXS is a Inverse Equities fund tracking the PHLX Semiconductor Index (-300%). Both are passively managed. Over the past 10 years, XSD returned 28.30%/yr vs -78.74%/yr for SOXS. At a correlation of -0.94, they often move in opposite directions. XSD charges 0.35%/yr vs 1.08%/yr for SOXS.
Performance
XSD vs. SOXS - Performance Comparison
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Returns By Period
In the year-to-date period, XSD achieves a 67.14% return, which is significantly higher than SOXS's -92.52% return. Over the past 10 years, XSD has outperformed SOXS with an annualized return of 28.30%, while SOXS has yielded a comparatively lower -78.74% annualized return.
XSD
- 1D
- -1.84%
- 1M
- -15.01%
- 6M
- 53.18%
- YTD
- 67.14%
- 1Y
- 104.91%
- 3Y*
- 33.84%
- 5Y*
- 25.26%
- 10Y*
- 28.30%
SOXS
- 1D
- 7.43%
- 1M
- 17.74%
- 6M
- -89.72%
- YTD
- -92.52%
- 1Y
- -96.66%
- 3Y*
- -85.83%
- 5Y*
- -80.02%
- 10Y*
- -78.74%
XSD vs. SOXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XSD SPDR S&P Semiconductor ETF | 67.14% | 29.85% | 10.75% | 34.87% | -30.92% | 42.54% | 61.95% | 64.66% | -6.35% | 25.21% |
SOXS Direxion Daily Semiconductor Bear 3x Shares | -92.52% | -85.53% | -59.55% | -84.56% | 15.76% | -80.94% | -92.90% | -83.81% | -19.39% | -69.39% |
Correlation
The correlation between XSD and SOXS is -0.93, 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 | -0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.93 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.95 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.95 |
Correlation (All Time) Calculated using the full available price history since Mar 11, 2010 | -0.94 |
The correlation between XSD and SOXS has been stable across timeframes, ranging from -0.95 to -0.93 - a consistent structural relationship.
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Return for Risk
XSD vs. SOXS — Risk / Return Rank
XSD
SOXS
XSD vs. SOXS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Semiconductor ETF (XSD) 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.
| XSD | SOXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.21 | ||
| Sortino ratioReturn per unit of downside risk | +5.59 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 0.70 | +0.67 |
| Calmar ratioReturn relative to maximum drawdown | 5.67 | -0.99 | +6.66 |
| Martin ratioReturn relative to average drawdown | 16.29 | -1.42 | +17.70 |
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Drawdowns
XSD vs. SOXS - Drawdown Comparison
The maximum XSD drawdown since its inception was -64.56%, smaller than the maximum SOXS drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for XSD and SOXS.
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Drawdown Indicators
| XSD | SOXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.56% | -100.00% | +35.44% |
Max Drawdown (1Y)Largest decline over 1 year | -18.61% | -97.89% | +79.28% |
Max Drawdown (3Y)Largest decline over 3 years | -41.25% | -99.87% | +58.62% |
Max Drawdown (5Y)Largest decline over 5 years | -42.27% | -99.98% | +57.71% |
Max Drawdown (10Y)Largest decline over 10 years | -42.27% | -100.00% | +57.73% |
Current DrawdownCurrent decline from peak | -17.31% | -100.00% | +82.69% |
Average DrawdownAverage peak-to-trough decline | -13.71% | -92.63% | +78.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.47% | 68.09% | -61.62% |
Volatility
XSD vs. SOXS - Volatility Comparison
The current volatility for SPDR S&P Semiconductor ETF (XSD) is 20.10%, while Direxion Daily Semiconductor Bear 3x Shares (SOXS) has a volatility of 61.18%. This indicates that XSD 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
| XSD | SOXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 20.10% | 61.18% | -41.08% |
Volatility (6M)Calculated over the trailing 6-month period | 36.42% | 108.85% | -72.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.16% | 125.65% | -82.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 39.71% | 113.15% | -73.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.67% | 102.95% | -67.28% |
XSD vs. SOXS - Expense Ratio Comparison
XSD has a 0.35% expense ratio, which is lower than SOXS's 1.08% expense ratio.
Dividends
XSD vs. SOXS - Dividend Comparison
XSD's dividend yield for the trailing twelve months is around 0.14%, less than SOXS's 49.38% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SOXS Direxion Daily Semiconductor Bear 3x Shares | 49.38% | 10.79% | 5.45% | 9.22% | 0.19% | 0.00% | 3.58% | 2.30% | 0.76% | 0.00% | 0.00% | 0.00% |
XSD SPDR S&P Semiconductor ETF | 0.14% | 0.26% | 0.20% | 0.31% | 0.44% | 0.10% | 0.26% | 0.51% | 1.16% | 0.59% | 0.64% | 0.58% |
Frequently Asked Questions
XSD and SOXS have a correlation of -0.93, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SOXS has higher volatility (61.18%) compared to XSD (20.10%). In terms of maximum drawdown, XSD dropped -64.56% vs SOXS's -100.00%.
On 10-year performance, XSD leads with 28.30% vs -78.74% for SOXS. On fees, XSD is cheaper at 0.35% per year. On volatility, XSD has been the lower-risk option at 20.10%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, XSD has performed better with a 28.30% return vs -78.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XSD is cheaper with a 0.35% expense ratio, compared with 1.08% for SOXS.
SOXS has the higher dividend yield at 49.38%, compared with 0.14% for XSD.
XSD is categorized as Semiconductors, while SOXS is Inverse Equities. XSD tracks S&P Semiconductor Select Industry Index, while SOXS tracks PHLX Semiconductor Index (-300%). They also come from different issuers: State Street and Direxion. Their fees differ too: 0.35% for XSD and 1.08% for SOXS.
XSD currently has the higher Sharpe Ratio (2.44 vs -0.77), 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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