US-listed · NYSE Arca · FIF-eligible (above NZ$50K)
Direxion SOXS Direxion Daily Semiconductor Bear 3X Shares
Designed to deliver -3× the daily return of the ICE Semiconductor Index. Inverse-leveraged: profits if semiconductors fall. Daily rebalancing produces severe decay.
Updated Reviewed quarterly
SOXS is an INVERSE-leveraged ETF (-3× daily semiconductor index). Compounding losses are the historical norm — daily-reset decay PLUS the long-run upward drift of the semiconductor sector means SOXS typically loses the vast majority of starting value over multi-month / multi-year holds. Designed by Direxion for daily-cycle bearish bets only. Never a buy-and-hold instrument. Read our full leveraged-ETF risk explainer at /learn/leveraged-etfs-risk-nz/ before considering this fund.
About this fund
What is SOXS?
SOXS is the US-listed ticker for Direxion Daily Semiconductor Bear 3X Shares, issued by Direxion. Designed to deliver -3× the daily return of the ICE Semiconductor Index. Inverse-leveraged: profits if semiconductors fall. Daily rebalancing produces severe decay. TER is 0.94% per year.
SOXS does not distribute. Returns are reflected in unit price (accumulating / no distribution).
Platform availability
Where to buy SOXS from New Zealand
Based on each platform's advertised market coverage and fee schedule. Verify with the platform before transacting — instrument coverage can change.
| Platform | Per-trade fee | FX | Min | Notes |
|---|---|---|---|---|
 Sharesies Sharesies | 1.9% per trade | 0.5% | NZ$0 | Beginners, fractional shares, mixing NZ + US ETFs |
 Hatch Hatch | US$3 per trade (≤300 shares) | 0.5% | NZ$0 (US$1 to invest) | NZ investors who want US-only ETFs (SPY, VOO, QQQ, SCHD, JEPI) |
 Stake Stake | US$0 trades | 0.70% | NZ$0 | Frequent US-share traders who hate per-trade fees |
 Interactive Brokers Interactive Brokers | From US$0.35 / trade (Tiered) or US$1 flat (Fixed) | ~0.002% (US$2 min) | US$0 | Larger portfolios, frequent traders, multi-market investors |
 Tiger Brokers Tiger Brokers | US$1.99 per US trade | 0.50% | NZ$0 | NZ investors who want NZ + US + Asian markets in one account |
 Jarden Direct Jarden Direct | NZ$29.90 per NZX trade | ~0.40% | NZ$0 | Larger NZX trades and global market access through one NZ broker |
 ASB Securities ASB Securities | NZ$30 per NZX trade | Bank rates (~1%) | NZ$0 (ASB customer) | Existing ASB customers wanting one login for banking + brokerage |
Showing 7 platforms that list this ETF. Full platform comparison: all 11 NZ brokers → · Full coverage matrix: availability matrix →
NZ tax treatment
How is SOXS taxed for NZ investors?
SOXS is US-domiciled. NZ investors apply Foreign Investment Fund rules once total overseas-share cost basis crosses the de-minimis threshold. Below it, only dividends are taxable.
The FIF de-minimis threshold is NZ$50,000 (source) of overseas-share cost basis. Below it, FIF rules do not apply and only dividends are taxable.
Most NZ retail investors use Fair Dividend Rate (FDR): deemed income = 5% × opening market value × your marginal rate. Comparative Value (CV) can be lower in flat or down years.
FDR vs CV method → · PIE vs FIF comparison →
🧮 Model your own after-tax outcome
Mechanical NZ-tax calculator comparing PIE @ PIR vs FIF @ FDR vs FIF @ CV on your principal, assumed return, time horizon, PIR, and marginal rate. → Open the after-tax calculator
General information only — not personalised tax advice. Confirm your treatment with a registered NZ tax adviser before transacting.
Add up to 4 more tickers to compare TER · yield · distribution · NZ tax structure.
Similar ETFs
ETFs with similar focus to SOXS
Same asset class, issuer cousins, and exchange peers — ranked by closest match. Click any row to compare side-by-side in the multi-compare tool.
| Ticker | Name | TER | Yield | Distribution | NZ tax | Compare |
|---|---|---|---|---|---|---|
| FNZ | NZ Top 50 (FNZ) Smartshares · NZX | 0.52% | 3.8% | Quarterly | PIE | SOXS vs FNZ |
| NZ20 | Kernel NZ 20 Kernel · NZX | 0.29% | 3.2% | Quarterly | PIE | SOXS vs NZ20 |
| TNZ | NZ Top 10 (TNZ) Smartshares · NZX | 0.60% | — | Quarterly | PIE | SOXS vs TNZ |
| MZY | NZ Mid Cap (MZY) Smartshares · NZX | 0.75% | — | Quarterly | PIE | SOXS vs MZY |
| KSC | Kernel NZ 20 (KSC) Kernel · NZX | 0.25% | — | Quarterly | PIE | SOXS vs KSC |
Distribution history
Last 12 distributions — SOXS
SOXS does not pay distributions. Returns are reflected in the unit price (accumulating). There is no distribution-payment history to display.
FAQ
Common questions about SOXS
What is the SOXS ETF? ⌄
SOXS is the Direxion Daily Semiconductor Bear 3X Shares — an inverse-leveraged ETF designed to deliver -3× the daily return of the ICE Semiconductor Index. The exposure resets every trading day. TER is 0.94%. Used for daily-cycle bearish bets on the semiconductor sector. The bull-side counterpart is SOXL.
SOXS vs SOXL — what's the difference? ⌄
Both target 3× daily exposure to the same ICE Semiconductor Index, but in opposite directions. SOXL is +3× (bullish); SOXS is -3× (bearish). Both have ~0.94% TER. Both suffer daily-reset volatility decay. SOXS additionally fights the long-run upward drift of the semiconductor sector — over multi-year periods, SOXS has historically lost the vast majority of starting value.
Can NZ residents buy SOXS? ⌄
Yes. SOXS is available via Hatch, Stake, Sharesies (US market), and Interactive Brokers. Above NZ$50,000 cost basis FIF rules apply. Inverse-leveraged products interact particularly poorly with FDR (5% × MV regardless of performance) — paying tax on a structural loss-maker is unattractive.
What use case does SOXS fit? ⌄
Strictly daily-cycle bearish tactical bets on the semiconductor sector. Or hedging an existing long position in NVDA/AMD/SMH/SOXX over a 1-3 day event window (e.g. ahead of a chip-stock earnings cluster). Holding for periods longer than days compounds decay against the position. ETFs.co.nz publishes SOXS reference data factually but does not recommend it for buy-and-hold use.
Where to buy SOXS from New Zealand
The platforms below all support SOXS. Each link opens the platform's site directly — we don't take any payment for placement or for clicks.
Hatch 
Sharesies 
Interactive Brokers 
Stake 
Tiger Brokers Fees + platform details verified against each provider's published rate card. Always check the current schedule before transacting. Full platform comparison →
Sources for this SOXS data
Every TER, yield, and holdings figure on this page traces to one of the documents below. We do not pull live prices; the data is reviewed monthly against issuer fact sheets and exchange listings (last reviewed 2026-05-04).
External links open in a new tab. We do not earn commission on issuer product pages. See our methodology + disclosure.
Related ETFs and resources
Leveraged ETFs — risk explainer (READ FIRST)
Why SOXS / TZA / SPXU lose money over time even when wrong-way.
SOXL — 3× semiconductor BULL (counterpart)
Bull-side leveraged counterpart on same underlying index.
SMH or SOXX — unleveraged semiconductor
Unleveraged sector exposure if your view is bullish or you want buy-and-hold.
TZA — 3× inverse Russell 2000
Same inverse-leverage mechanic on small-cap index.
FIF tax explained
Why FIF + inverse-leverage = particularly poor after-tax outcomes.
