ASHR vs. YANG
ASHR (Xtrackers Harvest CSI 300 China A-Shares ETF) and YANG (Direxion Daily China 3x Bear Shares) are both China Equities funds - ASHR tracks the CSI 300 Index while YANG tracks the FTSE China 50 Index (-300%). Both are passively managed. Over the past 10 years, ASHR returned 4.83%/yr vs -36.84%/yr for YANG. At a correlation of -0.72, they often move in opposite directions. ASHR charges 0.65%/yr vs 1.07%/yr for YANG.
Performance
ASHR vs. YANG - Performance Comparison
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Returns By Period
In the year-to-date period, ASHR achieves a 5.18% return, which is significantly lower than YANG's 25.47% return. Over the past 10 years, ASHR has outperformed YANG with an annualized return of 4.83%, while YANG has yielded a comparatively lower -36.84% annualized return.
ASHR
- 1D
- -2.43%
- 1M
- -3.89%
- 6M
- 1.74%
- YTD
- 5.18%
- 1Y
- 25.85%
- 3Y*
- 10.26%
- 5Y*
- -1.21%
- 10Y*
- 4.83%
YANG
- 1D
- -2.17%
- 1M
- -0.55%
- 6M
- 45.29%
- YTD
- 25.47%
- 1Y
- 11.02%
- 3Y*
- -43.66%
- 5Y*
- -34.43%
- 10Y*
- -36.84%
ASHR vs. YANG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ASHR Xtrackers Harvest CSI 300 China A-Shares ETF | 5.18% | 27.02% | 11.95% | -12.52% | -27.52% | -1.57% | 36.29% | 36.50% | -28.45% | 33.47% |
YANG Direxion Daily China 3x Bear Shares | 25.47% | -62.77% | -71.41% | 11.95% | -41.34% | 25.90% | -58.66% | -40.72% | 13.14% | -64.93% |
Correlation
The correlation between ASHR and YANG is -0.62, 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 (1Y) Calculated over the trailing 1-year period | -0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.68 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.71 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.74 |
Correlation (All Time) Calculated using the full available price history since Nov 6, 2013 | -0.72 |
The correlation between ASHR and YANG shifts across timeframes, from -0.74 (10 years) to -0.62 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ASHR vs. YANG — Risk / Return Rank
ASHR
YANG
ASHR vs. YANG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers Harvest CSI 300 China A-Shares ETF (ASHR) and Direxion Daily China 3x Bear Shares (YANG). 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.
| ASHR | YANG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.16 | ||
| Sortino ratioReturn per unit of downside risk | +1.24 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.08 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 3.37 | 0.35 | +3.03 |
| Martin ratioReturn relative to average drawdown | 8.88 | 0.61 | +8.27 |
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Drawdowns
ASHR vs. YANG - Drawdown Comparison
The maximum ASHR drawdown since its inception was -51.30%, smaller than the maximum YANG drawdown of -99.98%. Use the drawdown chart below to compare losses from any high point for ASHR and YANG.
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Drawdown Indicators
| ASHR | YANG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.30% | -99.98% | +48.68% |
Max Drawdown (1Y)Largest decline over 1 year | -7.69% | -31.88% | +24.19% |
Max Drawdown (3Y)Largest decline over 3 years | -33.12% | -94.02% | +60.90% |
Max Drawdown (5Y)Largest decline over 5 years | -44.10% | -97.38% | +53.28% |
Max Drawdown (10Y)Largest decline over 10 years | -51.30% | -99.38% | +48.08% |
Current DrawdownCurrent decline from peak | -19.41% | -99.97% | +80.56% |
Average DrawdownAverage peak-to-trough decline | -29.06% | -90.56% | +61.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.92% | 18.13% | -15.21% |
Volatility
ASHR vs. YANG - Volatility Comparison
The current volatility for Xtrackers Harvest CSI 300 China A-Shares ETF (ASHR) is 9.05%, while Direxion Daily China 3x Bear Shares (YANG) has a volatility of 19.01%. This indicates that ASHR experiences smaller price fluctuations and is considered to be less risky than YANG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ASHR | YANG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.05% | 19.01% | -9.96% |
Volatility (6M)Calculated over the trailing 6-month period | 14.69% | 42.31% | -27.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.27% | 59.33% | -40.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.15% | 94.43% | -70.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.17% | 81.86% | -57.69% |
ASHR vs. YANG - Expense Ratio Comparison
ASHR has a 0.65% expense ratio, which is lower than YANG's 1.07% expense ratio.
Dividends
ASHR vs. YANG - Dividend Comparison
ASHR's dividend yield for the trailing twelve months is around 2.19%, less than YANG's 2.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ASHR Xtrackers Harvest CSI 300 China A-Shares ETF | 2.19% | 2.31% | 1.13% | 2.48% | 1.13% | 0.88% | 0.81% | 0.98% | 1.32% | 0.84% | 0.73% | 30.13% |
YANG Direxion Daily China 3x Bear Shares | 2.94% | 4.03% | 9.42% | 3.66% | 0.00% | 0.00% | 0.67% | 1.54% | 0.56% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ASHR and YANG have a correlation of -0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
YANG has higher volatility (19.01%) compared to ASHR (9.05%). In terms of maximum drawdown, ASHR dropped -51.30% vs YANG's -99.98%.
On 10-year performance, ASHR leads with 4.83% vs -36.84% for YANG. On fees, ASHR is cheaper at 0.65% per year. On volatility, ASHR has been the lower-risk option at 9.05%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, ASHR has performed better with a 4.83% return vs -36.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ASHR is cheaper with a 0.65% expense ratio, compared with 1.07% for YANG.
YANG has the higher dividend yield at 2.94%, compared with 2.19% for ASHR.
ASHR tracks CSI 300 Index, while YANG tracks FTSE China 50 Index (-300%). They also come from different issuers: DWS and Direxion. Their fees differ too: 0.65% for ASHR and 1.07% for YANG.
ASHR currently has the higher Sharpe Ratio (1.35 vs 0.19), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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