ASHX vs. YANG

Last updated Apr 2, 2026

Compare and contrast key facts about Xtrackers MSCI China A Inclusion Equity ETF (ASHX) and Direxion Daily China 3x Bear Shares (YANG).

ASHX and YANG are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ASHX is a passively managed fund by Deutsche Bank that tracks the performance of the MSCI China A Inclusion Index. It was launched on Oct 20, 2015. YANG is a passively managed fund by Direxion that tracks the performance of the FTSE China 50 Index (-300%). It was launched on Dec 3, 2009. Both ASHX and YANG are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

ASHX vs. YANG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers MSCI China A Inclusion Equity ETF (ASHX) and Direxion Daily China 3x Bear Shares (YANG). The values are adjusted to include any dividend payments, if applicable.

ASHX vs. YANG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ASHX Xtrackers MSCI China A Inclusion Equity ETF	0.00%	0.00%	0.27%	-13.59%	-26.45%	2.64%	42.24%	35.03%	-27.51%	20.14%
YANG Direxion Daily China 3x Bear Shares	20.02%	-62.77%	-71.41%	11.95%	-41.34%	25.90%	-58.66%	-40.72%	13.14%	-64.93%

Returns By Period

ASHX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

YANG

• 1D: 2.68%
• 1M: 9.80%
• YTD: 20.02%
• 6M: 44.40%
• 1Y: -22.06%
• 3Y*: -43.56%
• 5Y*: -33.55%
• 10Y*: -39.11%

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

ASHX vs. YANG - Expense Ratio Comparison

ASHX has a 0.60% expense ratio, which is lower than YANG's 1.07% expense ratio.

YANG

Direxion Daily China 3x Bear Shares

ASHX

Xtrackers MSCI China A Inclusion Equity ETF

Return for Risk

ASHX vs. YANG — Risk / Return Rank

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

YANG

YANG Risk / Return Rank: 8
YANG Sharpe Ratio Rank: 6
YANG Sortino Ratio Rank: 10
YANG Omega Ratio Rank: 9
YANG Calmar Ratio Rank: 7
YANG Martin Ratio Rank: 9

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.

ASHX vs. YANG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI China A Inclusion Equity ETF (ASHX) 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.

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

Sharpe Ratios by Period

	ASHX	YANG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	-0.31	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.36	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.48	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	-0.49	—

Correlation

The correlation between ASHX and YANG is -0.55. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

ASHX vs. YANG - Dividend Comparison

ASHX has not paid dividends to shareholders, while YANG's dividend yield for the trailing twelve months is around 3.40%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASHX Xtrackers MSCI China A Inclusion Equity ETF	0.00%	0.00%	0.00%	2.38%	1.76%	0.84%	0.80%	1.78%	1.07%	2.48%	19.46%	2.91%
YANG Direxion Daily China 3x Bear Shares	3.40%	4.03%	9.42%	3.66%	0.00%	0.00%	0.67%	1.54%	0.56%	0.00%	0.00%	0.00%

Drawdowns

Drawdown Indicators

	ASHX	YANG	Difference
Max Drawdown Largest peak-to-trough decline	—	-99.98%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-68.02%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-97.38%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-99.60%	—
Current Drawdown Current decline from peak	—	-99.97%	—
Average Drawdown Average peak-to-trough decline	—	-90.42%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	57.00%	—

Volatility

Volatility by Period

	ASHX	YANG	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	19.60%	—
Volatility (6M) Calculated over the trailing 6-month period	—	43.29%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	71.59%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	94.39%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	82.22%	—