ASHS vs. YANG
ASHS (Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF) and YANG (Direxion Daily China 3x Bear Shares) are both China Equities funds - ASHS tracks the CSI 500 Index while YANG tracks the FTSE China 50 Index (-300%). Both are passively managed. Over the past 10 years, ASHS returned 2.43%/yr vs -36.84%/yr for YANG. At a correlation of -0.58, they often move in opposite directions. ASHS charges 0.65%/yr vs 1.07%/yr for YANG.
Performance
ASHS vs. YANG - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, ASHS achieves a 10.21% return, which is significantly lower than YANG's 25.47% return. Over the past 10 years, ASHS has outperformed YANG with an annualized return of 2.43%, while YANG has yielded a comparatively lower -36.84% annualized return.
ASHS
- 1D
- -2.86%
- 1M
- -6.52%
- 6M
- -0.37%
- YTD
- 10.21%
- 1Y
- 42.00%
- 3Y*
- 12.63%
- 5Y*
- 2.59%
- 10Y*
- 2.43%
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%
ASHS vs. YANG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ASHS Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF | 10.21% | 39.48% | 2.68% | -10.03% | -24.78% | 17.66% | 28.22% | 24.53% | -35.91% | 7.90% |
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 ASHS and YANG is -0.49, 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 | -0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.57 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.60 |
Correlation (All Time) Calculated using the full available price history since May 21, 2014 | -0.58 |
The correlation between ASHS and YANG shifts across timeframes, from -0.60 (10 years) to -0.49 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
ASHS vs. YANG — Risk / Return Rank
ASHS
YANG
ASHS vs. YANG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF (ASHS) 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.
| ASHS | YANG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.48 | ||
| Sortino ratioReturn per unit of downside risk | +1.55 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.08 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 3.01 | 0.35 | +2.66 |
| Martin ratioReturn relative to average drawdown | 8.87 | 0.61 | +8.26 |
Loading charts...
Drawdowns
ASHS vs. YANG - Drawdown Comparison
The maximum ASHS drawdown since its inception was -69.90%, smaller than the maximum YANG drawdown of -99.98%. Use the drawdown chart below to compare losses from any high point for ASHS and YANG.
Loading charts...
Drawdown Indicators
| ASHS | YANG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.90% | -99.98% | +30.08% |
Max Drawdown (1Y)Largest decline over 1 year | -14.03% | -31.88% | +17.85% |
Max Drawdown (3Y)Largest decline over 3 years | -34.13% | -94.02% | +59.89% |
Max Drawdown (5Y)Largest decline over 5 years | -47.81% | -97.38% | +49.57% |
Max Drawdown (10Y)Largest decline over 10 years | -47.81% | -99.38% | +51.57% |
Current DrawdownCurrent decline from peak | -36.39% | -99.97% | +63.58% |
Average DrawdownAverage peak-to-trough decline | -48.40% | -90.56% | +42.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.75% | 18.13% | -13.38% |
Volatility
ASHS vs. YANG - Volatility Comparison
The current volatility for Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF (ASHS) is 11.20%, while Direxion Daily China 3x Bear Shares (YANG) has a volatility of 19.01%. This indicates that ASHS 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.
Loading charts...
Volatility by Period
| ASHS | YANG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.20% | 19.01% | -7.81% |
Volatility (6M)Calculated over the trailing 6-month period | 19.89% | 42.31% | -22.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.32% | 59.33% | -34.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.93% | 94.43% | -67.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.76% | 81.86% | -56.10% |
ASHS vs. YANG - Expense Ratio Comparison
ASHS has a 0.65% expense ratio, which is lower than YANG's 1.07% expense ratio.
Dividends
ASHS vs. YANG - Dividend Comparison
ASHS has not paid dividends to shareholders, while YANG's dividend yield for the trailing twelve months is around 2.94%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ASHS Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF | 0.00% | 0.00% | 0.69% | 0.65% | 1.90% | 0.76% | 0.43% | 0.57% | 0.00% | 0.00% | 0.00% | 8.34% |
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
ASHS and YANG have a correlation of -0.49, 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 ASHS (11.20%). In terms of maximum drawdown, ASHS dropped -69.90% vs YANG's -99.98%.
On 10-year performance, ASHS leads with 2.43% vs -36.84% for YANG. On fees, ASHS is cheaper at 0.65% per year. On volatility, ASHS has been the lower-risk option at 11.20%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, ASHS has performed better with a 2.43% return vs -36.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ASHS 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 0.00% for ASHS.
ASHS tracks CSI 500 Index, while YANG tracks FTSE China 50 Index (-300%). They also come from different issuers: Deutsche Bank and Direxion. Their fees differ too: 0.65% for ASHS and 1.07% for YANG.
ASHS currently has the higher Sharpe Ratio (1.67 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.
Find the right allocation for ASHS and YANG
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer