CHAU vs. ISVBF
CHAU (Direxion Daily CSI 300 China A Share Bull 2x Shares) and ISVBF (iShares MSCI China A UCITS ETF) are both China Equities funds - CHAU tracks the CSI 300 Index (200%) while ISVBF tracks the MSCI China A Inclusion Index. Both are passively managed. Over the past 5 years, CHAU returned -9.88%/yr vs -6.00%/yr for ISVBF. At a 0.26 correlation, their price movements are largely independent. CHAU charges 1.21%/yr vs 0.40%/yr for ISVBF.
Performance
CHAU vs. ISVBF - Performance Comparison
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Returns By Period
In the year-to-date period, CHAU achieves a 5.90% return, which is significantly higher than ISVBF's -11.89% return.
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%
ISVBF
- 1D
- -1.30%
- 1M
- -3.57%
- 6M
- -17.04%
- YTD
- -11.89%
- 1Y
- -2.60%
- 3Y*
- 7.37%
- 5Y*
- -6.00%
- 10Y*
- —
CHAU vs. ISVBF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
CHAU Direxion Daily CSI 300 China A Share Bull 2x Shares | 5.90% | 47.73% | 6.61% | -28.25% | -49.17% | 1.63% |
ISVBF iShares MSCI China A UCITS ETF | -11.89% | 30.64% | 18.96% | -9.28% | -23.01% | -22.12% |
Correlation
The correlation between CHAU and ISVBF is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.38 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since May 5, 2021 | 0.26 |
Over the past year, CHAU and ISVBF have become more correlated (0.49) than their long-term average of 0.26, meaning their price movements have been converging.
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Return for Risk
CHAU vs. ISVBF — Risk / Return Rank
CHAU
ISVBF
CHAU vs. ISVBF - 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 iShares MSCI China A UCITS ETF (ISVBF). 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 | ISVBF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.32 | ||
| Sortino ratioReturn per unit of downside risk | +1.68 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.01 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 3.03 | -0.11 | +3.14 |
| Martin ratioReturn relative to average drawdown | 7.95 | -0.25 | +8.20 |
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Drawdowns
CHAU vs. ISVBF - Drawdown Comparison
The maximum CHAU drawdown since its inception was -79.21%, which is greater than ISVBF's maximum drawdown of -53.78%. Use the drawdown chart below to compare losses from any high point for CHAU and ISVBF.
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Drawdown Indicators
| CHAU | ISVBF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.21% | -53.78% | -25.43% |
Max Drawdown (1Y)Largest decline over 1 year | -15.27% | -24.14% | +8.87% |
Max Drawdown (3Y)Largest decline over 3 years | -59.88% | -24.14% | -35.74% |
Max Drawdown (5Y)Largest decline over 5 years | -71.97% | -52.51% | -19.46% |
Max Drawdown (10Y)Largest decline over 10 years | -78.58% | — | — |
Current DrawdownCurrent decline from peak | -57.26% | -28.59% | -28.67% |
Average DrawdownAverage peak-to-trough decline | -58.83% | -32.65% | -26.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.81% | 10.37% | -4.56% |
Volatility
CHAU vs. ISVBF - Volatility Comparison
Direxion Daily CSI 300 China A Share Bull 2x Shares (CHAU) has a higher volatility of 17.36% compared to iShares MSCI China A UCITS ETF (ISVBF) at 7.77%. This indicates that CHAU's price experiences larger fluctuations and is considered to be riskier than ISVBF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CHAU | ISVBF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.36% | 7.77% | +9.59% |
Volatility (6M)Calculated over the trailing 6-month period | 28.48% | 27.10% | +1.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 37.60% | 31.44% | +6.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.52% | 30.44% | +17.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 47.35% | 30.13% | +17.22% |
CHAU vs. ISVBF - Expense Ratio Comparison
CHAU has a 1.21% expense ratio, which is higher than ISVBF's 0.40% expense ratio.
Dividends
CHAU vs. ISVBF - Dividend Comparison
CHAU's dividend yield for the trailing twelve months is around 2.04%, while ISVBF has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
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% |
ISVBF iShares MSCI China A UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CHAU and ISVBF 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.
CHAU has higher volatility (17.36%) compared to ISVBF (7.77%). In terms of maximum drawdown, CHAU dropped -79.21% vs ISVBF's -53.78%.
On 5-year performance, ISVBF leads with -6.00% vs -9.88% for CHAU. On fees, ISVBF is cheaper at 0.40% per year. On volatility, ISVBF has been the lower-risk option at 7.77%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, ISVBF has performed better with a -6.00% return vs -9.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ISVBF is cheaper with a 0.40% expense ratio, compared with 1.21% for CHAU.
CHAU has the higher dividend yield at 2.04%, compared with 0.00% for ISVBF.
CHAU tracks CSI 300 Index (200%), while ISVBF tracks MSCI China A Inclusion Index. They also come from different issuers: Direxion and iShares. Their fees differ too: 1.21% for CHAU and 0.40% for ISVBF.
CHAU currently has the higher Sharpe Ratio (1.23 vs -0.08), 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.
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