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CHAU vs. YCS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CHAU vs. YCS

Last updated Jun 4, 2026

CHAU (Direxion Daily CSI 300 China A Share Bull 2x Shares) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - CHAU is a Leveraged Equities fund tracking the CSI 300 Index (200%), while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past 10 years, CHAU returned 4.54%/yr vs 12.34%/yr for YCS. At a 0.01 correlation, their price movements are largely independent. CHAU charges 1.21%/yr vs 1.00%/yr for YCS.

Performance

CHAU vs. YCS - 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 ProShares UltraShort Yen (YCS). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, CHAU achieves a 17.74% return, which is significantly higher than YCS's 7.17% return. Over the past 10 years, CHAU has underperformed YCS with an annualized return of 4.54%, while YCS has yielded a comparatively higher 12.34% annualized return.

CHAU

1D
-0.12%
1M
5.21%
YTD
17.74%
6M
25.00%
1Y
80.30%
3Y*
12.95%
5Y*
-9.67%
10Y*
4.54%

YCS

1D
0.17%
1M
4.42%
YTD
7.17%
6M
10.05%
1Y
32.82%
3Y*
19.84%
5Y*
23.54%
10Y*
12.34%
*Multi-year figures are annualized to reflect compound growth (CAGR)

CHAU vs. YCS - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
CHAU
Direxion Daily CSI 300 China A Share Bull 2x Shares		17.74%47.73%6.61%-28.25%-49.17%-2.84%71.95%70.01%-51.03%74.91%
YCS
ProShares UltraShort Yen		7.17%9.04%35.41%28.70%29.09%22.38%-11.18%3.37%-1.49%-6.57%

Correlation

The correlation between CHAU and YCS is -0.19, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

-0.19

Correlation (3Y)
Calculated over the trailing 3-year period

-0.17

Correlation (5Y)
Calculated over the trailing 5-year period

-0.14

Correlation (10Y)
Calculated over the trailing 10-year period

-0.04

Correlation (All Time)
Calculated using the full available price history since Apr 17, 2015

0.01

The correlation between CHAU and YCS shifts across timeframes, from -0.19 (1 year) to 0.01 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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Direxion Daily CSI 300 China A Share Bull 2x Shares

ProShares UltraShort Yen

Often compared with CHAU:
CHAU vs. YINNCHAU vs. ASHRCHAU vs. VGTCHAU vs. SPYCHAU vs. GOOGCHAU vs. drnCHAU vs. qylg
Often compared with YCS:
YCS vs. YCLYCS vs. JPYUSD=XYCS vs. PFIXYCS vs. TBTYCS vs. UUPYCS vs. BCSFYCS vs. SPY

Return for Risk

CHAU vs. YCS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CHAU
CHAU Risk / Return Rank: 7474
Overall Rank
CHAU Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
CHAU Sortino Ratio Rank: 6565
Sortino Ratio Rank
CHAU Omega Ratio Rank: 6464
Omega Ratio Rank
CHAU Calmar Ratio Rank: 8989
Calmar Ratio Rank
CHAU Martin Ratio Rank: 8080
Martin Ratio Rank
YCS
YCS Risk / Return Rank: 6161
Overall Rank
YCS Sharpe Ratio Rank: 5656
Sharpe Ratio Rank
YCS Sortino Ratio Rank: 4949
Sortino Ratio Rank
YCS Omega Ratio Rank: 5656
Omega Ratio Rank
YCS Calmar Ratio Rank: 7878
Calmar Ratio Rank
YCS Martin Ratio Rank: 6767
Martin Ratio Rank
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. YCS - 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 ProShares UltraShort Yen (YCS). 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.

CHAUYCSDifference
Sharpe ratioReturn per unit of total volatility
2.42
1.92

+0.50

Sortino ratioReturn per unit of downside risk
3.05
2.44

+0.61

Omega ratioGain probability vs. loss probability

1.39

1.35

+0.04

Calmar ratioReturn relative to maximum drawdown

5.29

3.97

+1.32

Martin ratioReturn relative to average drawdown

15.85

12.40

+3.46

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. YCS - Sharpe Ratio Comparison

The current CHAU Sharpe Ratio is 2.42, which is comparable to the YCS Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of CHAU and YCS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

CHAUYCSDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.42

1.92

+0.50

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.21

1.12

-1.33

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.10

0.65

-0.55

Sharpe Ratio (All Time)

Calculated using the full available price history

-0.07

0.33

-0.40

Drawdowns

CHAU vs. YCS - Drawdown Comparison

The maximum CHAU drawdown since its inception was -79.21%, which is greater than YCS's maximum drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for CHAU and YCS.

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Drawdown Indicators

CHAUYCSDifference

Max Drawdown

Largest peak-to-trough decline

-79.21%

-49.56%

-29.65%

Max Drawdown (1Y)

Largest decline over 1 year

-15.27%

-8.30%

-6.97%

Max Drawdown (3Y)

Largest decline over 3 years

-59.88%

-23.05%

-36.83%

Max Drawdown (5Y)

Largest decline over 5 years

-73.69%

-27.32%

-46.37%

Max Drawdown (10Y)

Largest decline over 10 years

-78.58%

-27.32%

-51.26%

Current Drawdown

Current decline from peak

-52.49%

0.00%

-52.49%

Average Drawdown

Average peak-to-trough decline

-58.90%

-19.93%

-38.97%

Ulcer Index

Depth and duration of drawdowns from previous peaks

5.08%

2.66%

+2.42%

Volatility

CHAU vs. YCS - Volatility Comparison

Direxion Daily CSI 300 China A Share Bull 2x Shares (CHAU) has a higher volatility of 11.70% compared to ProShares UltraShort Yen (YCS) at 2.75%. This indicates that CHAU's price experiences larger fluctuations and is considered to be riskier than YCS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

CHAUYCSDifference

Volatility (1M)

Calculated over the trailing 1-month period

11.70%

2.75%

+8.95%

Volatility (6M)

Calculated over the trailing 6-month period

22.78%

12.32%

+10.46%

Volatility (1Y)

Calculated over the trailing 1-year period

33.37%

17.27%

+16.10%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

47.08%

21.10%

+25.98%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

47.14%

19.01%

+28.13%

CHAU vs. YCS - Expense Ratio Comparison

CHAU has a 1.21% expense ratio, which is higher than YCS's 1.00% expense ratio.

Dividends

CHAU vs. YCS - Dividend Comparison

CHAU's dividend yield for the trailing twelve months is around 1.73%, while YCS has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018
CHAU
Direxion Daily CSI 300 China A Share Bull 2x Shares		1.73%1.97%2.25%3.97%0.77%1.73%0.09%0.58%0.83%
YCS
ProShares UltraShort Yen		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

CHAU and YCS have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

CHAU has higher volatility (11.70%) compared to YCS (2.75%). In terms of maximum drawdown, CHAU dropped -79.21% vs YCS's -49.56%.

On 10-year performance, YCS leads with 12.34% vs 4.54% for CHAU. On fees, YCS is cheaper at 1.00% per year. On volatility, YCS has been the lower-risk option at 2.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, YCS has performed better with a 12.34% return vs 4.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

YCS is cheaper with a 1.00% expense ratio, compared with 1.21% for CHAU.

CHAU has the higher dividend yield at 1.73%, compared with 0.00% for YCS.

CHAU is categorized as Leveraged Equities, while YCS is Leveraged Currency. CHAU tracks CSI 300 Index (200%), while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.21% for CHAU and 1.00% for YCS.

CHAU currently has the higher Sharpe Ratio (2.42 vs 1.92), 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.

Portfolio Optimizer

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