Direxion Daily Semiconductor Bear 3X ETF

Frequently Asked Questions About SOXS

What does SOXS invest in?

The Direxion Daily Semiconductor Bear 3X ETF is designed to provide daily returns that are three times the inverse (opposite) of the NYSE Semiconductor Index's performance, prior to the deduction of fees and expenses. It is important to note that the fund does not guarantee it will always achieve these stated daily investment objectives.

What is the expense ratio of SOXS?

Direxion Daily Semiconductor Bear 3X ETF (SOXS) charges an expense ratio of 1.00%. This is the annual fee deducted from fund assets to cover management and operations.

Is SOXS a good long-term hold?

SOXS is a leveraged fund designed to deliver a daily multiple of its underlying index. Daily reset compounding means returns over multi-day periods can diverge significantly from the headline multiple — typically negative drift in choppy markets. These funds are designed for short-term tactical use, not buy-and-hold. Review the fund's prospectus before holding more than a few days.

How does SOXS's daily reset work?

SOXS rebalances exposure each trading day to maintain its target leverage ratio against the next day's move. The daily reset means returns compound at the daily level — so a +1%, −1% sequence on the underlying doesn't return the underlying to flat after the leverage multiplier. Over time this path-dependence erodes returns in volatile markets and amplifies them in trending markets.

How big is SOXS?

Direxion Daily Semiconductor Bear 3X ETF (SOXS) manages $1.30B in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure — funds below ~$50M are at higher risk of liquidation.

Is SOXS actively managed or an index fund?

SOXS's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy.