Direxion Daily Semiconductor Bear 3X ETF
SOXS
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- Direxion Daily Semiconductor Bear 3X Shares (SOXS) is an exchange-traded fund that seeks daily investment results, before fees and expenses, equal to 300% of the inverse (or opposite) of the performance of the NYSE Semiconductor Index, a rules-based, modified float-adjusted market capitalization-weighted index that tracks the thirty largest U.S.-listed semiconductor companies; the fund employs a short strategy utilizing derivatives such as swaps and futures, with significant holdings in cash management vehicles including Dreyfus Government Cash Management and Goldman Financial Square Treasury Institutional; it targets sophisticated investors seeking leveraged inverse exposure to the semiconductor sector, including companies engaged in semiconductors and semiconductor materials and equipment. SOXS forms part of the Direxion Shares ETF Trust, issued under the Direxion brand by Rafferty Asset Management, LLC, and trades on the NYSE Arca. Launched on March 11, 2010, the fund is domiciled in the United States with primary operations managed from Direxion's headquarters at 1301 Avenue of the Americas in New York, New York; Direxion, founded in 1997, maintains additional offices in Boston, Massachusetts, and Hong Kong, overseeing approximately $50.6 billion in assets under management as of June 30, 2025. In March 2024, SOXS underwent a 1-for-10 reverse stock split effective April 15, 2024, to adjust share price and maintain trading efficiency, with shares trading on a split-adjusted basis thereafter; Direxion has continued active product innovation, launching new single-stock leveraged and inverse ETFs including those tied to Berkshire Hathaway and Palantir in December 2024, as well as the Direxion Titans Leveraged & Inverse ETFs suite targeting top U.S. sector leaders in October 2025, while closing select underperforming funds such as two ETFs in June 2025 due to limited assets. The fund distributes income dividends quarterly, with recent payouts including $0.05612 per share in June 2025 and $0.30199 per share in December 2024, and carries a net expense ratio of 0.97%.