CNXT vs. YINN

Last updated Jun 24, 2026

CNXT (VanEck Vectors ChinaAMC SME-ChiNext ETF) and YINN (Direxion Daily China 3x Bull Shares) are both exchange-traded funds - CNXT is a China Equities fund tracking the SME-ChiNext 100 Index, while YINN is a Leveraged Equities fund tracking the FTSE China 50 Index (300%). Both are passively managed. Over the past 10 years, CNXT returned 7.44%/yr vs -19.74%/yr for YINN. A 0.58 correlation means they provide meaningful diversification when combined. CNXT charges 0.65%/yr vs 1.52%/yr for YINN.

Performance

CNXT vs. YINN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Vectors ChinaAMC SME-ChiNext ETF (CNXT) and Direxion Daily China 3x Bull Shares (YINN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CNXT achieves a 36.42% return, which is significantly higher than YINN's -42.95% return. Over the past 10 years, CNXT has outperformed YINN with an annualized return of 7.44%, while YINN has yielded a comparatively lower -19.74% annualized return.

CNXT

• 1D: -4.05%
• 1M: 7.53%
• YTD: 36.42%
• 6M: 34.79%
• 1Y: 122.39%
• 3Y*: 28.78%
• 5Y*: 4.73%
• 10Y*: 7.44%

YINN

• 1D: -6.15%
• 1M: -21.32%
• YTD: -42.95%
• 6M: -44.25%
• 1Y: -37.35%
• 3Y*: -8.25%
• 5Y*: -41.05%
• 10Y*: -19.74%

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

CNXT vs. YINN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CNXT VanEck Vectors ChinaAMC SME-ChiNext ETF	36.42%	59.31%	12.42%	-21.47%	-35.58%	8.78%	63.30%	42.66%	-39.48%	20.19%
YINN Direxion Daily China 3x Bull Shares	-42.95%	54.21%	36.06%	-53.08%	-71.97%	-58.56%	-7.75%	28.92%	-48.47%	129.79%

Correlation

The correlation between CNXT and YINN is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.60
Correlation (5Y) Calculated over the trailing 5-year period	0.58
Correlation (10Y) Calculated over the trailing 10-year period	0.60
Correlation (All Time) Calculated using the full available price history since Jul 24, 2014	0.58

The correlation between CNXT and YINN has been stable across timeframes, ranging from 0.54 to 0.60 - a consistent structural relationship.

CNXT vs. YINN - Sectors Allocation Comparison

Sectors	CNXT	YINN
Industrials	42.4%	3.2%
Technology	39.9%	5.4%
Basic Materials	4.7%	3.9%
Healthcare	3.8%	2.3%
Financial Services	3.4%	34.8%
Consumer Defensive	1.4%	0.9%
Communication Services	1.0%	16.3%
Consumer Cyclical	0.7%	26.4%
Energy	-	5.3%
Real Estate	-	1.1%
Utilities	-	0.4%

Return for Risk

CNXT vs. YINN — Risk / Return Rank

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

CNXT

CNXT Risk / Return Rank: 94
CNXT Sharpe Ratio Rank: 96
CNXT Sortino Ratio Rank: 93
CNXT Omega Ratio Rank: 90
CNXT Calmar Ratio Rank: 97
CNXT Martin Ratio Rank: 95

YINN

YINN Risk / Return Rank: 3
YINN Sharpe Ratio Rank: 4
YINN Sortino Ratio Rank: 4
YINN Omega Ratio Rank: 4
YINN Calmar Ratio Rank: 3
YINN 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.

CNXT vs. YINN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors ChinaAMC SME-ChiNext ETF (CNXT) and Direxion Daily China 3x Bull Shares (YINN). 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.

	CNXT	YINN	Difference
Sharpe ratio: Return per unit of total volatility	3.81	-0.64	+4.45
Sortino ratio: Return per unit of downside risk	4.38	-0.69	+5.07
Omega ratio: Gain probability vs. loss probability	1.56	0.92	+0.64
Calmar ratio: Return relative to maximum drawdown	10.08	-0.66	+10.74
Martin ratio: Return relative to average drawdown	29.76	-1.40	+31.15

CNXT vs. YINN - Sharpe Ratio Comparison

The current CNXT Sharpe Ratio is 3.81, which is higher than the YINN Sharpe Ratio of -0.64. The chart below compares the historical Sharpe Ratios of CNXT and YINN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CNXT vs. YINN - Drawdown Comparison

The maximum CNXT drawdown since its inception was -68.98%, smaller than the maximum YINN drawdown of -98.87%. Use the drawdown chart below to compare losses from any high point for CNXT and YINN.

Drawdown Indicators

	CNXT	YINN	Difference
Max Drawdown Largest peak-to-trough decline	-68.98%	-98.87%	+29.89%
Max Drawdown (1Y) Largest decline over 1 year	-12.21%	-56.99%	+44.78%
Max Drawdown (3Y) Largest decline over 3 years	-48.60%	-69.08%	+20.48%
Max Drawdown (5Y) Largest decline over 5 years	-61.21%	-96.28%	+35.07%
Max Drawdown (10Y) Largest decline over 10 years	-63.30%	-98.59%	+35.29%
Current Drawdown Current decline from peak	-4.05%	-97.98%	+93.93%
Average Drawdown Average peak-to-trough decline	-42.76%	-68.55%	+25.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.13%	26.77%	-22.64%

Volatility

CNXT vs. YINN - Volatility Comparison

The current volatility for VanEck Vectors ChinaAMC SME-ChiNext ETF (CNXT) is 12.58%, while Direxion Daily China 3x Bull Shares (YINN) has a volatility of 18.21%. This indicates that CNXT experiences smaller price fluctuations and is considered to be less risky than YINN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CNXT	YINN	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.58%	18.21%	-5.63%
Volatility (6M) Calculated over the trailing 6-month period	22.32%	43.73%	-21.41%
Volatility (1Y) Calculated over the trailing 1-year period	32.27%	59.15%	-26.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.52%	94.33%	-58.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.77%	81.59%	-49.82%

CNXT vs. YINN - Expense Ratio Comparison

CNXT has a 0.65% expense ratio, which is lower than YINN's 1.52% expense ratio.

Dividends

CNXT vs. YINN - Dividend Comparison

CNXT's dividend yield for the trailing twelve months is around 0.13%, less than YINN's 1.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CNXT VanEck Vectors ChinaAMC SME-ChiNext ETF	0.13%	0.18%	0.15%	0.00%	0.00%	9.22%	0.01%	0.45%	0.00%	0.19%
YINN Direxion Daily China 3x Bull Shares	1.75%	1.12%	1.81%	4.17%	1.16%	0.73%	0.76%	1.38%	1.02%	1.11%

Frequently Asked Questions

Can I hold both CNXT and YINN in my portfolio?

CNXT and YINN have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CNXT or YINN?

YINN has higher volatility (18.21%) compared to CNXT (12.58%). In terms of maximum drawdown, CNXT dropped -68.98% vs YINN's -98.87%.

Which ETF is better, CNXT or YINN?

On 10-year performance, CNXT leads with 7.44% vs -19.74% for YINN. On fees, CNXT is cheaper at 0.65% per year. On volatility, CNXT has been the lower-risk option at 12.58%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CNXT or YINN?

Over the 10-year period, CNXT has performed better with a 7.44% return vs -19.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CNXT or YINN?

CNXT is cheaper with a 0.65% expense ratio, compared with 1.52% for YINN.

Which ETF pays a higher dividend yield, CNXT or YINN?

YINN has the higher dividend yield at 1.75%, compared with 0.13% for CNXT.

What is the main difference between CNXT and YINN?

CNXT is categorized as China Equities, while YINN is Leveraged Equities. CNXT tracks SME-ChiNext 100 Index, while YINN tracks FTSE China 50 Index (300%). They also come from different issuers: VanEck and Direxion. Their fees differ too: 0.65% for CNXT and 1.52% for YINN.

Which has better risk-adjusted returns?

CNXT currently has the higher Sharpe Ratio (3.81 vs -0.64), 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.