SOXSDirexion Daily Semiconductor Bear 3X Shares
SOXS Fund Description
SOXS provides daily 3x leveraged inverse exposure to a modified market-cap-weighted index of companies primarily involved in the design, distribution, manufacture and sale of semiconductors.
SOXS Factset Analytics Insight
SOXS makes big, bearish bets against the highly concentrated semiconductor industry by using swap agreements, futures contracts and short positions. The fund provides -3x exposure to the PHLX Semiconductor Sector Index—a market-cap-weighted index of 30 US-listed companies engaged in everything from the design to the sale of semiconductors. The same index is tracked as an unlevered fund by iShares' SOXX. Although the index caps any weighting at 8%, like the market itself, SOXS' portfolio is dominated by its top ten names, making the fund an explicit bet against a relative handful of companies. The fund rebalances its exposure on a daily basis, making long-term returns difficult to predict due to the effects of path dependency and compounding.
SOXS Factset Analytics Block Liquidity
This measurement shows how easy it is to trade a $1 million USD block of SOXS. SOXS is rated a 5 out of 5.