BERZ vs. YXI

Last updated Jul 17, 2026

BERZ (MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN) and YXI (ProShares Short FTSE China 50) are both exchange-traded funds - BERZ is a Inverse Equities fund tracking the Solactive FANG Innovation Index, while YXI is a China Equities fund tracking the FTSE China 50 Net Tax USD (TR) (-100%). Both are passively managed. Over the past 3 years, BERZ returned -72.79%/yr vs -9.98%/yr for YXI. At a 0.38 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.

Performance

BERZ vs. YXI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN (BERZ) and ProShares Short FTSE China 50 (YXI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BERZ achieves a -54.50% return, which is significantly lower than YXI's 10.86% return.

BERZ

• 1D: 8.13%
• 1M: 12.66%
• 6M: -51.50%
• YTD: -54.50%
• 1Y: -75.61%
• 3Y*: -72.79%
• 5Y*: —
• 10Y*: —

YXI

• 1D: -1.28%
• 1M: 0.04%
• 6M: 15.92%
• YTD: 10.86%
• 1Y: 8.52%
• 3Y*: -9.98%
• 5Y*: -2.98%
• 10Y*: -7.35%

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

BERZ vs. YXI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BERZ MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN	-54.50%	-78.81%	-65.95%	-89.12%	102.85%	-28.36%
YXI ProShares Short FTSE China 50	10.86%	-22.87%	-25.36%	12.40%	4.78%	3.24%

Correlation

The correlation between BERZ and YXI is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (3Y) Calculated over the trailing 3-year period	0.31
Correlation (All Time) Calculated using the full available price history since Aug 18, 2021	0.38

Return for Risk

BERZ vs. YXI — Risk / Return Rank

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

BERZ

BERZ Risk / Return Rank: 1
BERZ Sharpe Ratio Rank: 2
BERZ Sortino Ratio Rank: 1
BERZ Omega Ratio Rank: 1
BERZ Calmar Ratio Rank: 1
BERZ Martin Ratio Rank: 1

YXI

YXI Risk / Return Rank: 18
YXI Sharpe Ratio Rank: 17
YXI Sortino Ratio Rank: 17
YXI Omega Ratio Rank: 16
YXI Calmar Ratio Rank: 21
YXI Martin Ratio Rank: 18

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.

BERZ vs. YXI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN (BERZ) and ProShares Short FTSE China 50 (YXI). 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.

	BERZ	YXI	Difference
Sharpe ratio: Return per unit of total volatility	-0.91	0.42	-1.33
Sortino ratio: Return per unit of downside risk	-1.80	0.72	-2.52
Omega ratio: Gain probability vs. loss probability	0.81	1.09	-0.28
Calmar ratio: Return relative to maximum drawdown	-0.90	0.75	-1.66
Martin ratio: Return relative to average drawdown	-1.42	1.50	-2.92

BERZ vs. YXI - Sharpe Ratio Comparison

The current BERZ Sharpe Ratio is -0.91, which is lower than the YXI Sharpe Ratio of 0.42. The chart below compares the historical Sharpe Ratios of BERZ and YXI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BERZ vs. YXI - Drawdown Comparison

The maximum BERZ drawdown since its inception was -99.80%, which is greater than YXI's maximum drawdown of -81.15%. Use the drawdown chart below to compare losses from any high point for BERZ and YXI.

Drawdown Indicators

	BERZ	YXI	Difference
Max Drawdown Largest peak-to-trough decline	-99.80%	-81.15%	-18.65%
Max Drawdown (1Y) Largest decline over 1 year	-83.72%	-11.39%	-72.33%
Max Drawdown (3Y) Largest decline over 3 years	-98.87%	-53.12%	-45.75%
Max Drawdown (5Y) Largest decline over 5 years	—	-57.65%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-61.79%	—
Current Drawdown Current decline from peak	-99.73%	-77.36%	-22.37%
Average Drawdown Average peak-to-trough decline	-72.17%	-54.45%	-17.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	53.42%	5.69%	+47.73%

Volatility

BERZ vs. YXI - Volatility Comparison

MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN (BERZ) has a higher volatility of 25.86% compared to ProShares Short FTSE China 50 (YXI) at 7.55%. This indicates that BERZ's price experiences larger fluctuations and is considered to be riskier than YXI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BERZ	YXI	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.86%	7.55%	+18.31%
Volatility (6M) Calculated over the trailing 6-month period	65.71%	15.50%	+50.21%
Volatility (1Y) Calculated over the trailing 1-year period	82.83%	20.63%	+62.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	92.62%	31.48%	+61.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	92.62%	27.43%	+65.19%

BERZ vs. YXI - Expense Ratio Comparison

Both BERZ and YXI have an expense ratio of 0.95%.

Dividends

BERZ vs. YXI - Dividend Comparison

BERZ has not paid dividends to shareholders, while YXI's dividend yield for the trailing twelve months is around 2.57%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BERZ MicroSectors Solactive FANG & Innovation -3X Inverse Leveraged ETN	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
YXI ProShares Short FTSE China 50	2.57%	3.60%	4.35%	2.66%	0.27%	0.00%	0.08%	1.01%	0.25%

Frequently Asked Questions

Can I hold both BERZ and YXI in my portfolio?

BERZ and YXI have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BERZ or YXI?

BERZ has higher volatility (25.86%) compared to YXI (7.55%). In terms of maximum drawdown, BERZ dropped -99.80% vs YXI's -81.15%.

Which ETF is better, BERZ or YXI?

On 3-year performance, YXI leads with -9.98% vs -72.79% for BERZ. Both ETFs have the same 0.95% expense ratio. On volatility, YXI has been the lower-risk option at 7.55%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BERZ or YXI?

Over the 3-year period, YXI has performed better with a -9.98% return vs -72.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BERZ or YXI?

BERZ and YXI have the same expense ratio: 0.95% per year.

Which ETF pays a higher dividend yield, BERZ or YXI?

YXI has the higher dividend yield at 2.57%, compared with 0.00% for BERZ.

What is the main difference between BERZ and YXI?

BERZ is categorized as Inverse Equities, while YXI is China Equities. BERZ tracks Solactive FANG Innovation Index, while YXI tracks FTSE China 50 Net Tax USD (TR) (-100%). They also come from different issuers: BMO and ProShares.

Which has better risk-adjusted returns?

YXI currently has the higher Sharpe Ratio (0.41 vs -0.91), 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.