CHAU vs. NIOG

Last updated Jun 26, 2026

CHAU (Direxion Daily CSI 300 China A Share Bull 2x Shares) and NIOG (Leverage Shares 2X Long NIO Daily ETF) are both Leveraged Equities funds - CHAU tracks the CSI 300 Index (200%) while NIOG tracks the NIO Inc. (NIO). Both are passively managed. At a 0.28 correlation, their price movements are largely independent. CHAU charges 1.21%/yr vs 0.75%/yr for NIOG.

Performance

CHAU vs. NIOG - 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 Leverage Shares 2X Long NIO Daily ETF (NIOG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CHAU achieves a 20.36% return, which is significantly higher than NIOG's -30.21% return.

CHAU

• 1D: 4.68%
• 1M: 2.52%
• YTD: 20.36%
• 6M: 20.62%
• 1Y: 70.83%
• 3Y*: 16.21%
• 5Y*: -8.45%
• 10Y*: 5.81%

NIOG

• 1D: -7.05%
• 1M: -21.38%
• YTD: -30.21%
• 6M: -25.91%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CHAU vs. NIOG - Yearly Performance Comparison

	2026 (YTD)	2025
CHAU Direxion Daily CSI 300 China A Share Bull 2x Shares	20.36%	4.34%
NIOG Leverage Shares 2X Long NIO Daily ETF	-30.21%	3.25%

Correlation

The correlation between CHAU and NIOG is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 18, 2025	0.28

Return for Risk

CHAU vs. NIOG — Risk / Return Rank

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

CHAU

CHAU Risk / Return Rank: 73
CHAU Sharpe Ratio Rank: 72
CHAU Sortino Ratio Rank: 65
CHAU Omega Ratio Rank: 63
CHAU Calmar Ratio Rank: 89
CHAU Martin Ratio Rank: 78

NIOG

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. NIOG - 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 Leverage Shares 2X Long NIO Daily ETF (NIOG). 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	NIOG	Difference
Sharpe ratio: Return per unit of total volatility	2.01	—	—
Sortino ratio: Return per unit of downside risk	2.60	—	—
Omega ratio: Gain probability vs. loss probability	1.33	—	—
Calmar ratio: Return relative to maximum drawdown	4.66	—	—
Martin ratio: Return relative to average drawdown	13.04	—	—

Drawdowns

CHAU vs. NIOG - Drawdown Comparison

The maximum CHAU drawdown since its inception was -79.21%, which is greater than NIOG's maximum drawdown of -56.27%. Use the drawdown chart below to compare losses from any high point for CHAU and NIOG.

Drawdown Indicators

	CHAU	NIOG	Difference
Max Drawdown Largest peak-to-trough decline	-79.21%	-56.27%	-22.94%
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	-72.59%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-78.58%	—	—
Current Drawdown Current decline from peak	-51.43%	-56.27%	+4.84%
Average Drawdown Average peak-to-trough decline	-58.85%	-22.75%	-36.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.45%	—	—

Volatility

Volatility by Period

	CHAU	NIOG	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.69%	—	—
Volatility (6M) Calculated over the trailing 6-month period	25.91%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	35.56%	115.62%	-80.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	47.33%	115.62%	-68.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.22%	115.62%	-68.40%

CHAU vs. NIOG - Expense Ratio Comparison

CHAU has a 1.21% expense ratio, which is higher than NIOG's 0.75% expense ratio.

Dividends

CHAU vs. NIOG - Dividend Comparison

CHAU's dividend yield for the trailing twelve months is around 1.80%, while NIOG 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	1.80%	1.97%	2.25%	3.97%	0.77%	1.73%	0.09%	0.58%	0.83%
NIOG Leverage Shares 2X Long NIO Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CHAU and NIOG in my portfolio?

CHAU and NIOG have a correlation of 0.28, 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 NIOG?

On fees, NIOG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CHAU or NIOG?

NIOG is cheaper with a 0.75% expense ratio, compared with 1.21% for CHAU.

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

CHAU has the higher dividend yield at 1.80%, compared with 0.00% for NIOG.

What is the main difference between CHAU and NIOG?

CHAU tracks CSI 300 Index (200%), while NIOG tracks NIO Inc. (NIO). They also come from different issuers: Direxion and Leverage Shares. Their fees differ too: 1.21% for CHAU and 0.75% for NIOG.