CHIQ vs. YANG
CHIQ (Global X MSCI China Consumer Discretionary ETF) and YANG (Direxion Daily China 3x Bear Shares) are both exchange-traded funds - CHIQ is a China Equities fund tracking the MSCI China Consumer Discretionary 10/50 Index, while YANG is a Leveraged Equities fund tracking the FTSE China 50 Index (-300%). Both are passively managed. Over the past 10 years, CHIQ returned 5.79%/yr vs -37.21%/yr for YANG. At a correlation of -0.85, they often move in opposite directions. CHIQ charges 0.65%/yr vs 1.07%/yr for YANG.
Performance
CHIQ vs. YANG - Performance Comparison
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Returns By Period
In the year-to-date period, CHIQ achieves a -26.08% return, which is significantly lower than YANG's 62.59% return. Over the past 10 years, CHIQ has outperformed YANG with an annualized return of 5.79%, while YANG has yielded a comparatively lower -37.21% annualized return.
CHIQ
- 1D
- -2.06%
- 1M
- -15.21%
- YTD
- -26.08%
- 6M
- -26.95%
- 1Y
- -25.74%
- 3Y*
- -2.12%
- 5Y*
- -13.51%
- 10Y*
- 5.79%
YANG
- 1D
- 6.41%
- 1M
- 38.66%
- YTD
- 62.59%
- 6M
- 66.09%
- 1Y
- 39.58%
- 3Y*
- -41.30%
- 5Y*
- -28.83%
- 10Y*
- -37.21%
CHIQ vs. YANG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CHIQ Global X MSCI China Consumer Discretionary ETF | -26.08% | 13.69% | 10.74% | -10.70% | -22.01% | -27.07% | 92.61% | 44.19% | -28.65% | 67.74% |
YANG Direxion Daily China 3x Bear Shares | 62.59% | -62.77% | -71.41% | 11.95% | -41.34% | 25.90% | -58.66% | -40.72% | 13.14% | -64.93% |
Correlation
The correlation between CHIQ and YANG is -0.86, 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 | -0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.92 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.88 |
Correlation (All Time) Calculated using the full available price history since Dec 3, 2009 | -0.85 |
The correlation between CHIQ and YANG has been stable across timeframes, ranging from -0.92 to -0.85 - a consistent structural relationship.
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Return for Risk
CHIQ vs. YANG — Risk / Return Rank
CHIQ
YANG
CHIQ vs. YANG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X MSCI China Consumer Discretionary ETF (CHIQ) and Direxion Daily China 3x Bear Shares (YANG). 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.
| CHIQ | YANG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.83 | ||
| Sortino ratioReturn per unit of downside risk | -2.93 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 1.16 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | -0.73 | 1.13 | -1.85 |
| Martin ratioReturn relative to average drawdown | -1.84 | 1.90 | -3.74 |
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Drawdowns
CHIQ vs. YANG - Drawdown Comparison
The maximum CHIQ drawdown since its inception was -67.04%, smaller than the maximum YANG drawdown of -99.98%. Use the drawdown chart below to compare losses from any high point for CHIQ and YANG.
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Drawdown Indicators
| CHIQ | YANG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.04% | -99.98% | +32.94% |
Max Drawdown (1Y)Largest decline over 1 year | -35.53% | -35.33% | -0.20% |
Max Drawdown (3Y)Largest decline over 3 years | -35.53% | -94.02% | +58.49% |
Max Drawdown (5Y)Largest decline over 5 years | -59.95% | -97.38% | +37.43% |
Max Drawdown (10Y)Largest decline over 10 years | -67.04% | -99.49% | +32.45% |
Current DrawdownCurrent decline from peak | -61.22% | -99.96% | +38.74% |
Average DrawdownAverage peak-to-trough decline | -30.70% | -90.53% | +59.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.03% | 20.85% | -6.82% |
Volatility
CHIQ vs. YANG - Volatility Comparison
The current volatility for Global X MSCI China Consumer Discretionary ETF (CHIQ) is 6.76%, while Direxion Daily China 3x Bear Shares (YANG) has a volatility of 18.40%. This indicates that CHIQ experiences smaller price fluctuations and is considered to be less risky than YANG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CHIQ | YANG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.76% | 18.40% | -11.64% |
Volatility (6M)Calculated over the trailing 6-month period | 16.27% | 43.95% | -27.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.30% | 58.77% | -36.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.76% | 94.57% | -56.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.43% | 81.92% | -49.49% |
CHIQ vs. YANG - Expense Ratio Comparison
CHIQ has a 0.65% expense ratio, which is lower than YANG's 1.07% expense ratio.
Dividends
CHIQ vs. YANG - Dividend Comparison
CHIQ's dividend yield for the trailing twelve months is around 2.00%, less than YANG's 2.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CHIQ Global X MSCI China Consumer Discretionary ETF | 2.00% | 1.48% | 2.65% | 2.26% | 0.38% | 0.00% | 0.11% | 1.05% | 2.71% | 0.62% | 1.51% | 4.86% |
YANG Direxion Daily China 3x Bear Shares | 2.27% | 4.03% | 9.42% | 3.66% | 0.00% | 0.00% | 0.67% | 1.54% | 0.56% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CHIQ and YANG have a correlation of -0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
YANG has higher volatility (18.40%) compared to CHIQ (6.76%). In terms of maximum drawdown, CHIQ dropped -67.04% vs YANG's -99.98%.
On 10-year performance, CHIQ leads with 5.79% vs -37.21% for YANG. On fees, CHIQ is cheaper at 0.65% per year. On volatility, CHIQ has been the lower-risk option at 6.76%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, CHIQ has performed better with a 5.79% return vs -37.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CHIQ is cheaper with a 0.65% expense ratio, compared with 1.07% for YANG.
YANG has the higher dividend yield at 2.27%, compared with 2.00% for CHIQ.
CHIQ is categorized as China Equities, while YANG is Leveraged Equities. CHIQ tracks MSCI China Consumer Discretionary 10/50 Index, while YANG tracks FTSE China 50 Index (-300%). They also come from different issuers: Global X and Direxion. Their fees differ too: 0.65% for CHIQ and 1.07% for YANG.
YANG currently has the higher Sharpe Ratio (0.68 vs -1.16), 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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