CHAU vs. CN

Last updated Jul 14, 2026

CHAU (Direxion Daily CSI 300 China A Share Bull 2x Shares) and CN (Xtrackers MSCI All China Equity ETF) are both China Equities funds - CHAU tracks the CSI 300 Index (200%) while CN tracks the MSCI China All Shares. Both are passively managed. A 0.75 correlation means they provide meaningful diversification when combined. CHAU charges 1.21%/yr vs 0.50%/yr for CN.

Performance

CHAU vs. CN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily CSI 300 China A Share Bull 2x Shares (CHAU) and Xtrackers MSCI All China Equity ETF (CN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CHAU

• 1D: -4.96%
• 1M: -5.32%
• 6M: -2.77%
• YTD: 5.90%
• 1Y: 46.02%
• 3Y*: 8.70%
• 5Y*: -9.88%
• 10Y*: 3.13%

CN

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

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

CHAU vs. CN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CHAU Direxion Daily CSI 300 China A Share Bull 2x Shares	5.90%	47.73%	6.61%	-28.25%	-49.17%	-2.84%	71.95%	70.01%	-51.03%	74.91%
CN Xtrackers MSCI All China Equity ETF	0.00%	0.00%	-3.10%	-11.87%	-23.85%	-12.74%	31.55%	26.79%	-22.41%	43.69%

Correlation

The correlation between CHAU and CN is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.37
Correlation (5Y) Calculated over the trailing 5-year period	0.62
Correlation (10Y) Calculated over the trailing 10-year period	0.74
Correlation (All Time) Calculated using the full available price history since Apr 16, 2015	0.75

The correlation between CHAU and CN shifts across timeframes, from 0.37 (3 years) to 0.75 (all time), reflecting how their relationship changes across market environments.

CHAU vs. CN - Sectors Allocation Comparison

Sectors	CHAU	CN
Technology	31.1%	0.3%
Financial Services	19.1%	55.1%
Industrials	16.1%	1.0%
Basic Materials	9.4%	0.6%
Consumer Defensive	6.7%	0.3%
Consumer Cyclical	6.4%	5.4%
Healthcare	4.4%	0.8%
Utilities	3.1%	0.2%
Energy	2.5%	0.9%
Communication Services	0.8%	0.4%
Real Estate	0.4%	0.8%

Return for Risk

CHAU vs. CN — Risk / Return Rank

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

CHAU

CHAU Risk / Return Rank: 52
CHAU Sharpe Ratio Rank: 44
CHAU Sortino Ratio Rank: 43
CHAU Omega Ratio Rank: 42
CHAU Calmar Ratio Rank: 74
CHAU Martin Ratio Rank: 58

CN

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

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.

CHAU vs. CN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily CSI 300 China A Share Bull 2x Shares (CHAU) and Xtrackers MSCI All China Equity ETF (CN). 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.

	CHAU	CN	Difference
Sharpe ratio: Return per unit of total volatility	1.23	—	—
Sortino ratio: Return per unit of downside risk	1.79	—	—
Omega ratio: Gain probability vs. loss probability	1.22	—	—
Calmar ratio: Return relative to maximum drawdown	3.03	—	—
Martin ratio: Return relative to average drawdown	7.95	—	—

Drawdowns

Drawdown Indicators

	CHAU	CN	Difference
Max Drawdown Largest peak-to-trough decline	-79.21%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-15.27%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-59.88%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-71.97%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-78.58%	—	—
Current Drawdown Current decline from peak	-57.26%	—	—
Average Drawdown Average peak-to-trough decline	-58.83%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	5.81%	—	—

Volatility

Volatility by Period

	CHAU	CN	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.36%	—	—
Volatility (6M) Calculated over the trailing 6-month period	28.48%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	37.60%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	47.52%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.35%	—	—

CHAU vs. CN - Expense Ratio Comparison

CHAU has a 1.21% expense ratio, which is higher than CN's 0.50% expense ratio.

Dividends

CHAU vs. CN - Dividend Comparison

CHAU's dividend yield for the trailing twelve months is around 2.04%, while CN has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CHAU Direxion Daily CSI 300 China A Share Bull 2x Shares	2.04%	1.97%	2.25%	3.97%	0.77%	1.73%	0.09%	0.58%	0.83%	0.00%	0.00%	0.00%
CN Xtrackers MSCI All China Equity ETF	0.00%	0.00%	0.00%	4.04%	1.80%	2.00%	0.78%	4.18%	2.09%	0.81%	11.41%	14.00%

Frequently Asked Questions

Can I hold both CHAU and CN in my portfolio?

CHAU and CN have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CHAU or CN?

On fees, CN is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CHAU or CN?

CN is cheaper with a 0.50% expense ratio, compared with 1.21% for CHAU.

Which ETF pays a higher dividend yield, CHAU or CN?

CHAU has the higher dividend yield at 2.04%, compared with 0.00% for CN.

What is the main difference between CHAU and CN?

CHAU tracks CSI 300 Index (200%), while CN tracks MSCI China All Shares. They also come from different issuers: Direxion and Deutsche Bank. Their fees differ too: 1.21% for CHAU and 0.50% for CN.