CHAU vs. CWEB

Last updated Apr 2, 2026

Compare and contrast key facts about Direxion Daily CSI 300 China A Share Bull 2x Shares (CHAU) and Direxion Daily CSI China Internet Index Bull 2x Shares (CWEB).

CHAU and CWEB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CHAU is a passively managed fund by Direxion that tracks the performance of the CSI 300 Index (200%). It was launched on Apr 16, 2015. CWEB is a passively managed fund by Direxion that tracks the performance of the CSI China Overseas Internet Index (200%). It was launched on Nov 2, 2016. Both CHAU and CWEB 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

CHAU vs. CWEB - 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 Direxion Daily CSI China Internet Index Bull 2x Shares (CWEB). The values are adjusted to include any dividend payments, if applicable.

CHAU vs. CWEB - 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	-2.48%	47.73%	6.61%	-28.25%	-49.17%	-2.84%	71.95%	70.01%	-51.03%	74.91%
CWEB Direxion Daily CSI China Internet Index Bull 2x Shares	-33.52%	29.04%	0.12%	-32.85%	-59.43%	-79.35%	116.38%	51.24%	-63.01%	166.27%

Returns By Period

In the year-to-date period, CHAU achieves a -2.48% return, which is significantly higher than CWEB's -33.52% return.

CHAU

• 1D: 0.74%
• 1M: -8.47%
• YTD: -2.48%
• 6M: -0.27%
• 1Y: 47.33%
• 3Y*: 0.30%
• 5Y*: -10.61%
• 10Y*: 2.21%

CWEB

• 1D: -1.23%
• 1M: -15.96%
• YTD: -33.52%
• 6M: -53.39%
• 1Y: -37.03%
• 3Y*: -16.84%
• 5Y*: -45.23%
• 10Y*: —

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

CHAU vs. CWEB - Expense Ratio Comparison

CHAU has a 1.21% expense ratio, which is lower than CWEB's 1.30% expense ratio.

CWEB

Direxion Daily CSI China Internet Index Bull 2x Shares

CHAU

Direxion Daily CSI 300 China A Share Bull 2x Shares

Return for Risk

CHAU vs. CWEB — Risk / Return Rank

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

CHAU

CHAU Risk / Return Rank: 71
CHAU Sharpe Ratio Rank: 70
CHAU Sortino Ratio Rank: 67
CHAU Omega Ratio Rank: 67
CHAU Calmar Ratio Rank: 74
CHAU Martin Ratio Rank: 75

CWEB

CWEB Risk / Return Rank: 2
CWEB Sharpe Ratio Rank: 3
CWEB Sortino Ratio Rank: 3
CWEB Omega Ratio Rank: 3
CWEB Calmar Ratio Rank: 2
CWEB Martin Ratio Rank: 1

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. CWEB - 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 Direxion Daily CSI China Internet Index Bull 2x Shares (CWEB). 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.

	CHAU	CWEB	Difference
Sharpe ratio Return per unit of total volatility	1.29	-0.63	+1.93
Sortino ratio Return per unit of downside risk	1.76	-0.67	+2.43
Omega ratio Gain probability vs. loss probability	1.26	0.92	+0.34
Calmar ratio Return relative to maximum drawdown	2.08	-0.65	+2.73
Martin ratio Return relative to average drawdown	8.42	-1.52	+9.94
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CHAU vs. CWEB - Sharpe Ratio Comparison

The current CHAU Sharpe Ratio is 1.29, which is higher than the CWEB Sharpe Ratio of -0.63. The chart below compares the historical Sharpe Ratios of CHAU and CWEB, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	CHAU	CWEB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.29	-0.63	+1.93
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.23	-0.48	+0.25
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.05	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.10	-0.24	+0.14

Correlation

The correlation between CHAU and CWEB is 0.63, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

CHAU vs. CWEB - Dividend Comparison

CHAU's dividend yield for the trailing twelve months is around 2.09%, less than CWEB's 5.08% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CHAU Direxion Daily CSI 300 China A Share Bull 2x Shares	2.09%	1.97%	2.25%	3.97%	0.77%	1.73%	0.09%	0.58%	0.83%	0.00%
CWEB Direxion Daily CSI China Internet Index Bull 2x Shares	5.08%	2.77%	4.59%	2.63%	0.00%	0.00%	0.00%	0.64%	1.59%	2.98%

Drawdowns

CHAU vs. CWEB - Drawdown Comparison

The maximum CHAU drawdown since its inception was -79.21%, smaller than the maximum CWEB drawdown of -98.09%. Use the drawdown chart below to compare losses from any high point for CHAU and CWEB.

Drawdown Indicators

	CHAU	CWEB	Difference
Max Drawdown Largest peak-to-trough decline	-79.21%	-98.09%	+18.88%
Max Drawdown (1Y) Largest decline over 1 year	-21.99%	-56.15%	+34.16%
Max Drawdown (5Y) Largest decline over 5 years	-74.32%	-96.62%	+22.30%
Max Drawdown (10Y) Largest decline over 10 years	-78.58%	—	—
Current Drawdown Current decline from peak	-60.65%	-97.29%	+36.64%
Average Drawdown Average peak-to-trough decline	-58.96%	-64.84%	+5.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.47%	23.96%	-18.49%

Volatility

CHAU vs. CWEB - Volatility Comparison

The current volatility for Direxion Daily CSI 300 China A Share Bull 2x Shares (CHAU) is 9.69%, while Direxion Daily CSI China Internet Index Bull 2x Shares (CWEB) has a volatility of 17.51%. This indicates that CHAU experiences smaller price fluctuations and is considered to be less risky than CWEB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CHAU	CWEB	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.69%	17.51%	-7.82%
Volatility (6M) Calculated over the trailing 6-month period	22.47%	38.34%	-15.87%
Volatility (1Y) Calculated over the trailing 1-year period	36.74%	58.92%	-22.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	46.97%	94.37%	-47.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.25%	80.95%	-33.70%