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ASHR vs. YANG
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ASHR vs. YANG

Last updated Jun 5, 2026

ASHR (Xtrackers Harvest CSI 300 China A-Shares Fund) and YANG (Direxion Daily China 3x Bear Shares) are both exchange-traded funds - ASHR is a China Equities fund tracking the CSI 300 Index, while YANG is a Leveraged Equities fund tracking the FTSE China 50 Index (-300%). Both are passively managed. Over the past 10 years, ASHR returned 5.36%/yr vs -38.45%/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

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers Harvest CSI 300 China A-Shares Fund (ASHR) and Direxion Daily China 3x Bear Shares (YANG). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, ASHR achieves a 9.53% return, which is significantly lower than YANG's 19.18% return. Over the past 10 years, ASHR has outperformed YANG with an annualized return of 5.36%, while YANG has yielded a comparatively lower -38.45% annualized return.

ASHR

1D
-0.53%
1M
1.78%
YTD
9.53%
6M
12.76%
1Y
37.06%
3Y*
12.15%
5Y*
-1.34%
10Y*
5.36%

YANG

1D
0.64%
1M
6.83%
YTD
19.18%
6M
25.26%
1Y
-7.77%
3Y*
-47.00%
5Y*
-33.67%
10Y*
-38.45%
*Multi-year figures are annualized to reflect compound growth (CAGR)

ASHR vs. YANG - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
ASHR
Xtrackers Harvest CSI 300 China A-Shares Fund		9.53%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		19.18%-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 -0.68, 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

-0.68

Correlation (3Y)
Calculated over the trailing 3-year period

-0.71

Correlation (5Y)
Calculated over the trailing 5-year period

-0.73

Correlation (10Y)
Calculated over the trailing 10-year period

-0.74

Correlation (All Time)
Calculated using the full available price history since Nov 7, 2013

-0.72

The correlation between ASHR and YANG has been stable across timeframes, ranging from -0.74 to -0.68 - a consistent structural relationship.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Xtrackers Harvest CSI 300 China A-Shares Fund

Direxion Daily China 3x Bear Shares

Often compared with ASHR:
ASHR vs. MCHIASHR vs. FXIASHR vs. CNYAASHR vs. ASHSASHR vs. SPYASHR vs. GXCASHR vs. CHAU
Often compared with YANG:
YANG vs. YINNYANG vs. CWEBYANG vs. FXPYANG vs. GLLYANG vs. TYOYANG vs. KLIPYANG vs. EDZ

Return for Risk

ASHR vs. YANG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ASHR
ASHR Risk / Return Rank: 7474
Overall Rank
ASHR Sharpe Ratio Rank: 6868
Sharpe Ratio Rank
ASHR Sortino Ratio Rank: 6969
Sortino Ratio Rank
ASHR Omega Ratio Rank: 6767
Omega Ratio Rank
ASHR Calmar Ratio Rank: 8686
Calmar Ratio Rank
ASHR Martin Ratio Rank: 7878
Martin Ratio Rank
YANG
YANG Risk / Return Rank: 99
Overall Rank
YANG Sharpe Ratio Rank: 88
Sharpe Ratio Rank
YANG Sortino Ratio Rank: 1010
Sortino Ratio Rank
YANG Omega Ratio Rank: 1010
Omega Ratio Rank
YANG Calmar Ratio Rank: 77
Calmar Ratio Rank
YANG Martin Ratio Rank: 88
Martin Ratio Rank
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.

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 Fund (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.

ASHRYANGDifference
Sharpe ratioReturn per unit of total volatility
2.21
-0.13

+2.35

Sortino ratioReturn per unit of downside risk
3.09
0.22

+2.87

Omega ratioGain probability vs. loss probability

1.39

1.03

+0.37

Calmar ratioReturn relative to maximum drawdown

4.84

-0.20

+5.04

Martin ratioReturn relative to average drawdown

14.92

-0.32

+15.24

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ASHR vs. YANG - Sharpe Ratio Comparison

The current ASHR Sharpe Ratio is 2.21, which is higher than the YANG Sharpe Ratio of -0.13. The chart below compares the historical Sharpe Ratios of ASHR and YANG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

ASHRYANGDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.21

-0.13

+2.35

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.06

-0.36

+0.30

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.22

-0.47

+0.69

Sharpe Ratio (All Time)

Calculated using the full available price history

0.22

-0.49

+0.71

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

ASHRYANGDifference

Max Drawdown

Largest peak-to-trough decline

-51.30%

-99.98%

+48.68%

Max Drawdown (1Y)

Largest decline over 1 year

-7.69%

-38.85%

+31.16%

Max Drawdown (3Y)

Largest decline over 3 years

-33.12%

-94.02%

+60.90%

Max Drawdown (5Y)

Largest decline over 5 years

-45.76%

-97.38%

+51.62%

Max Drawdown (10Y)

Largest decline over 10 years

-51.30%

-99.53%

+48.23%

Current Drawdown

Current decline from peak

-16.08%

-99.97%

+83.89%

Average Drawdown

Average peak-to-trough decline

-29.18%

-90.52%

+61.34%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.49%

24.39%

-21.90%

Volatility

ASHR vs. YANG - Volatility Comparison

The current volatility for Xtrackers Harvest CSI 300 China A-Shares Fund (ASHR) is 5.87%, while Direxion Daily China 3x Bear Shares (YANG) has a volatility of 21.22%. 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

ASHRYANGDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.87%

21.22%

-15.35%

Volatility (6M)

Calculated over the trailing 6-month period

11.52%

42.61%

-31.09%

Volatility (1Y)

Calculated over the trailing 1-year period

16.84%

58.74%

-41.90%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

23.89%

94.43%

-70.54%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

24.05%

82.10%

-58.05%

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 2.11%, less than YANG's 3.43% yield.

PositionTTM20252024202320222021202020192018201720162015
ASHR
Xtrackers Harvest CSI 300 China A-Shares Fund		2.11%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		3.43%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 -0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

YANG has higher volatility (21.22%) compared to ASHR (5.87%). In terms of maximum drawdown, ASHR dropped -51.30% vs YANG's -99.98%.

On 10-year performance, ASHR leads with 5.36% vs -38.45% for YANG. On fees, ASHR is cheaper at 0.65% per year. On volatility, ASHR has been the lower-risk option at 5.87%. 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 5.36% return vs -38.45%. 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 3.43%, compared with 2.11% for ASHR.

ASHR is categorized as China Equities, while YANG is Leveraged Equities. 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 (2.21 vs -0.13), 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.

Portfolio Optimizer

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