ECNS vs. XPP
ECNS (iShares MSCI China Small-Cap ETF) and XPP (ProShares Ultra FTSE China 50) are both China Equities funds - ECNS tracks the MSCI China Small Cap Index while XPP tracks the FTSE/Xinhua China 25 Index (200%). Both are passively managed. Over the past 10 years, ECNS returned 0.89%/yr vs -6.07%/yr for XPP. Their 0.75 correlation means they have sometimes moved together and sometimes differently. ECNS charges 0.59%/yr vs 0.95%/yr for XPP.
Performance
ECNS vs. XPP - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, ECNS achieves a -10.84% return, which is significantly higher than XPP's -13.54% return. Over the past 10 years, ECNS has outperformed XPP with an annualized return of 0.89%, while XPP has yielded a comparatively lower -6.07% annualized return.
ECNS
- 1D
- -0.28%
- 1M
- 1.48%
- 6M
- -15.13%
- YTD
- -10.84%
- 1Y
- -10.63%
- 3Y*
- 3.54%
- 5Y*
- -7.01%
- 10Y*
- 0.89%
- ALL TIME*
- 0.21%
XPP
- 1D
- -0.33%
- 1M
- 29.56%
- 6M
- -16.46%
- YTD
- -13.54%
- 1Y
- -8.21%
- 3Y*
- 5.24%
- 5Y*
- -15.11%
- 10Y*
- -6.07%
- ALL TIME*
- -4.69%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $217.02K | $210.44K | $354.53K | |
| $93.17K | $75.54K | $134.28K |
ECNS vs. XPP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ECNS iShares MSCI China Small-Cap ETF | -10.84% | 36.49% | 5.64% | -23.05% | -24.58% | 2.11% | 25.42% | 7.84% | -18.27% | 27.55% |
XPP ProShares Ultra FTSE China 50 | -13.54% | 45.84% | 38.18% | -34.77% | -50.06% | -40.45% | 7.07% | 24.88% | -31.36% | 80.21% |
Correlation
The correlation between ECNS and XPP is 0.70, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.70 |
Correlation (3Y) Balances recent behavior with more history. | 0.79 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.82 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.79 |
Correlation (All Time) Calculated using the full available price history since Sep 29, 2010 | 0.75 |
The correlation between ECNS and XPP shifts across timeframes, from 0.70 (1 year) to 0.82 (5 years), reflecting how their relationship changes across market environments.
ECNS vs. XPP - Sectors Allocation Comparison
Sectors
ECNS
XPP
Healthcare
-
Industrials
-
Technology
-
Basic Materials
-
Communication Services
-
Consumer Cyclical
-
Real Estate
-
Consumer Defensive
-
Financial Services
Utilities
-
Energy
-
Healthcare
ECNS
XPP
-
Industrials
ECNS
XPP
-
Technology
ECNS
XPP
-
Basic Materials
ECNS
XPP
-
Communication Services
ECNS
XPP
-
Consumer Cyclical
ECNS
XPP
-
Real Estate
ECNS
XPP
-
Consumer Defensive
ECNS
XPP
-
Financial Services
ECNS
XPP
Utilities
ECNS
XPP
-
Energy
ECNS
XPP
-
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
ECNS vs. XPP — Risk / Return Rank
ECNS
XPP
ECNS vs. XPP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI China Small-Cap ETF (ECNS) and ProShares Ultra FTSE China 50 (XPP). 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.
| ECNS | XPP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.31 | ||
| Sortino ratioReturn per unit of downside risk | -0.56 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 1.00 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | -0.41 | -0.18 | -0.23 |
| Martin ratioReturn relative to average drawdown | -0.82 | -0.38 | -0.44 |
Loading charts...
Drawdowns
ECNS vs. XPP - Drawdown Comparison
The maximum ECNS drawdown since its inception was -63.43%, smaller than the maximum XPP drawdown of -89.90%. Use the drawdown chart below to compare losses from any high point for ECNS and XPP.
Loading charts...
Drawdown Indicators
| ECNS | XPP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.43% | -89.90% | +26.47% |
Max Drawdown (1Y)Largest decline over 1 year | -25.73% | -44.78% | +19.05% |
Max Drawdown (3Y)Largest decline over 3 years | -29.29% | -48.56% | +19.27% |
Max Drawdown (5Y)Largest decline over 5 years | -57.31% | -81.38% | +24.07% |
Max Drawdown (10Y)Largest decline over 10 years | -63.43% | -89.90% | +26.47% |
Current DrawdownCurrent decline from peak | -42.60% | -77.12% | +34.52% |
Average DrawdownAverage peak-to-trough decline | -29.51% | -48.11% | +18.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.01% | 21.62% | -8.61% |
Volatility
ECNS vs. XPP - Volatility Comparison
The current volatility for iShares MSCI China Small-Cap ETF (ECNS) is 6.37%, while ProShares Ultra FTSE China 50 (XPP) has a volatility of 10.61%. This indicates that ECNS experiences smaller price fluctuations and is considered to be less risky than XPP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| ECNS | XPP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.37% | 10.61% | -4.24% |
Volatility (6M)Calculated over the trailing 6-month period | 14.27% | 29.08% | -14.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.87% | 40.30% | -19.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.09% | 62.34% | -33.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.82% | 54.82% | -29.00% |
ECNS vs. XPP - Expense Ratio Comparison
ECNS has a 0.59% expense ratio, which is lower than XPP's 0.95% expense ratio.
Dividends
ECNS vs. XPP - Dividend Comparison
ECNS's dividend yield for the trailing twelve months is around 6.60%, more than XPP's 2.42% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ECNS iShares MSCI China Small-Cap ETF | 6.60% | 6.20% | 5.98% | 4.89% | 3.54% | 4.87% | 3.59% | 3.23% | 6.16% | 3.18% | 4.29% | 3.58% |
XPP ProShares Ultra FTSE China 50 | 2.42% | 2.32% | 2.96% | 2.87% | 0.00% | 0.00% | 0.00% | 3.81% | 1.47% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ECNS and XPP have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XPP has higher volatility (10.61%) compared to ECNS (6.37%). In terms of maximum drawdown, ECNS dropped -63.43% vs XPP's -89.90%.
On 10-year performance, ECNS leads with 0.89% vs -6.07% for XPP. On fees, ECNS is cheaper at 0.59% per year. On volatility, ECNS has been the lower-risk option at 6.37%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, ECNS has performed better with a 0.89% return vs -6.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ECNS is cheaper with a 0.59% expense ratio, compared with 0.95% for XPP.
ECNS has the higher dividend yield at 6.60%, compared with 2.42% for XPP.
ECNS tracks MSCI China Small Cap Index, while XPP tracks FTSE/Xinhua China 25 Index (200%). They also come from different issuers: iShares and ProShares. Their fees differ too: 0.59% for ECNS and 0.95% for XPP.
XPP currently has the higher Sharpe Ratio (-0.20 vs -0.51), 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.
Find the right allocation for ECNS and XPP
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer