AMUN vs. CHAU

Last updated Jun 24, 2026

AMUN (abrdn Ultra Short Municipal Income Active ETF) and CHAU (Direxion Daily CSI 300 China A Share Bull 2x Shares) are both exchange-traded funds - AMUN is a Municipal Bonds fund actively managed by abrdn, while CHAU is a Leveraged Equities fund tracking the CSI 300 Index (200%). AMUN is actively managed, while CHAU is passively managed. At a correlation of -0.12, they often move in opposite directions. AMUN charges 0.25%/yr vs 1.21%/yr for CHAU.

Performance

AMUN vs. CHAU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in abrdn Ultra Short Municipal Income Active ETF (AMUN) and Direxion Daily CSI 300 China A Share Bull 2x Shares (CHAU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AMUN achieves a 1.25% return, which is significantly lower than CHAU's 15.68% return.

AMUN

• 1D: 0.04%
• 1M: 0.30%
• YTD: 1.25%
• 6M: 1.32%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CHAU

• 1D: -6.92%
• 1M: 2.59%
• YTD: 15.68%
• 6M: 16.43%
• 1Y: 74.53%
• 3Y*: 14.03%
• 5Y*: -8.64%
• 10Y*: 5.49%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AMUN vs. CHAU - Yearly Performance Comparison

	2026 (YTD)	2025
AMUN abrdn Ultra Short Municipal Income Active ETF	1.25%	0.14%
CHAU Direxion Daily CSI 300 China A Share Bull 2x Shares	15.68%	7.30%

Correlation

The correlation between AMUN and CHAU is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 20, 2025	-0.12

Return for Risk

AMUN vs. CHAU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AMUN

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

CHAU

CHAU Risk / Return Rank: 71
CHAU Sharpe Ratio Rank: 70
CHAU Sortino Ratio Rank: 61
CHAU Omega Ratio Rank: 60
CHAU Calmar Ratio Rank: 88
CHAU Martin Ratio Rank: 76

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AMUN vs. CHAU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for abrdn Ultra Short Municipal Income Active ETF (AMUN) and Direxion Daily CSI 300 China A Share Bull 2x Shares (CHAU). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AMUN	CHAU	Difference
Sharpe ratio: Return per unit of total volatility	—	2.11	—
Sortino ratio: Return per unit of downside risk	—	2.68	—
Omega ratio: Gain probability vs. loss probability	—	1.35	—
Calmar ratio: Return relative to maximum drawdown	—	4.91	—
Martin ratio: Return relative to average drawdown	—	13.77	—

Drawdowns

AMUN vs. CHAU - Drawdown Comparison

The maximum AMUN drawdown since its inception was -0.61%, smaller than the maximum CHAU drawdown of -79.21%. Use the drawdown chart below to compare losses from any high point for AMUN and CHAU.

Drawdown Indicators

	AMUN	CHAU	Difference
Max Drawdown Largest peak-to-trough decline	-0.61%	-79.21%	+78.60%
Max Drawdown (1Y) Largest decline over 1 year	—	-15.27%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-59.88%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-72.59%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-78.58%	—
Current Drawdown Current decline from peak	0.00%	-53.31%	+53.31%
Average Drawdown Average peak-to-trough decline	-0.08%	-58.86%	+58.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	5.43%	—

Volatility

Volatility by Period

	AMUN	CHAU	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	14.72%	—
Volatility (6M) Calculated over the trailing 6-month period	—	25.68%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.98%	35.51%	-34.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.98%	47.32%	-46.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.98%	47.22%	-46.24%

AMUN vs. CHAU - Expense Ratio Comparison

AMUN has a 0.25% expense ratio, which is lower than CHAU's 1.21% expense ratio.

Dividends

AMUN vs. CHAU - Dividend Comparison

AMUN's dividend yield for the trailing twelve months is around 1.88%, more than CHAU's 1.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
AMUN abrdn Ultra Short Municipal Income Active ETF	1.88%	0.66%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
CHAU Direxion Daily CSI 300 China A Share Bull 2x Shares	1.76%	1.97%	2.25%	3.97%	0.77%	1.73%	0.09%	0.58%	0.83%

Frequently Asked Questions

Can I hold both AMUN and CHAU in my portfolio?

AMUN and CHAU have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AMUN or CHAU?

On fees, AMUN is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AMUN or CHAU?

AMUN is cheaper with a 0.25% expense ratio, compared with 1.21% for CHAU.

Which ETF pays a higher dividend yield, AMUN or CHAU?

AMUN has the higher dividend yield at 1.88%, compared with 1.76% for CHAU.

What is the main difference between AMUN and CHAU?

AMUN is categorized as Municipal Bonds, while CHAU is Leveraged Equities. They also come from different issuers: abrdn and Direxion. Their fees differ too: 0.25% for AMUN and 1.21% for CHAU.