SOXS

SOXS is the Direxion Daily Semiconductor Bear 3X Shares, an exchange-traded fund built to move three times in the opposite direction of a semiconductor stock index each day. It does not own semiconductor companies for the long haul; instead it uses swaps and derivatives to deliver -300% of that index's daily return, so it makes money when chip stocks fall and loses money when they rise. It is a trading tool for betting against or hedging the chip sector over short windows, not a buy-and-hold investment.