EFZ vs. YXI
EFZ (ProShares Short MSCI EAFE) and YXI (ProShares Short FTSE China 50) are both Inverse Equities funds from ProShares - EFZ tracks the MSCI EAFE Index (-100%) while YXI tracks the FTSE China 50 Net Tax USD (TR) (-100%). Both are passively managed. Over the past 10 years, EFZ returned -8.29%/yr vs -8.25%/yr for YXI. A 0.61 correlation means they provide meaningful diversification when combined. Both charge a 0.95% expense ratio.
Performance
EFZ vs. YXI - Performance Comparison
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Returns By Period
In the year-to-date period, EFZ achieves a -6.98% return, which is significantly lower than YXI's 8.21% return. Both investments have delivered pretty close results over the past 10 years, with EFZ having a -8.29% annualized return and YXI not far ahead at -8.25%.
EFZ
- 1D
- 0.88%
- 1M
- -3.23%
- YTD
- -6.98%
- 6M
- -8.53%
- 1Y
- -14.24%
- 3Y*
- -9.77%
- 5Y*
- -5.38%
- 10Y*
- -8.29%
YXI
- 1D
- 1.95%
- 1M
- 2.80%
- YTD
- 8.21%
- 6M
- 9.88%
- 1Y
- 0.05%
- 3Y*
- -11.68%
- 5Y*
- -2.65%
- 10Y*
- -8.25%
EFZ vs. YXI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EFZ ProShares Short MSCI EAFE | -6.98% | -20.92% | 2.90% | -10.38% | 13.15% | -12.75% | -16.02% | -16.56% | 16.26% | -20.18% |
YXI ProShares Short FTSE China 50 | 8.21% | -22.87% | -25.36% | 12.40% | 4.78% | 13.94% | -17.95% | -14.35% | 9.63% | -28.43% |
Correlation
The correlation between EFZ and YXI is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.48 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.50 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Mar 19, 2010 | 0.61 |
The correlation between EFZ and YXI shifts across timeframes, from 0.48 (1 year) to 0.61 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EFZ vs. YXI — Risk / Return Rank
EFZ
YXI
EFZ vs. YXI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short MSCI EAFE (EFZ) and ProShares Short FTSE China 50 (YXI). 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.
| EFZ | YXI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.88 | ||
| Sortino ratioReturn per unit of downside risk | -1.33 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 1.02 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | -0.82 | 0.00 | -0.83 |
| Martin ratioReturn relative to average drawdown | -1.47 | 0.01 | -1.47 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| EFZ | YXI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.88 | 0.00 | -0.88 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.32 | -0.08 | -0.24 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.48 | -0.30 | -0.18 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.34 | -0.30 | -0.04 |
Drawdowns
EFZ vs. YXI - Drawdown Comparison
The maximum EFZ drawdown since its inception was -88.08%, which is greater than YXI's maximum drawdown of -81.15%. Use the drawdown chart below to compare losses from any high point for EFZ and YXI.
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Drawdown Indicators
| EFZ | YXI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.08% | -81.15% | -6.93% |
Max Drawdown (1Y)Largest decline over 1 year | -17.36% | -14.21% | -3.15% |
Max Drawdown (3Y)Largest decline over 3 years | -35.42% | -53.12% | +17.70% |
Max Drawdown (5Y)Largest decline over 5 years | -43.77% | -57.65% | +13.88% |
Max Drawdown (10Y)Largest decline over 10 years | -61.88% | -64.92% | +3.04% |
Current DrawdownCurrent decline from peak | -87.82% | -77.90% | -9.92% |
Average DrawdownAverage peak-to-trough decline | -67.08% | -54.31% | -12.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.71% | 8.18% | +1.53% |
Volatility
EFZ vs. YXI - Volatility Comparison
The current volatility for ProShares Short MSCI EAFE (EFZ) is 5.19%, while ProShares Short FTSE China 50 (YXI) has a volatility of 7.21%. This indicates that EFZ experiences smaller price fluctuations and is considered to be less risky than YXI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EFZ | YXI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.19% | 7.21% | -2.02% |
Volatility (6M)Calculated over the trailing 6-month period | 13.49% | 14.86% | -1.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.35% | 19.97% | -3.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.72% | 31.40% | -14.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.38% | 27.42% | -10.04% |
EFZ vs. YXI - Expense Ratio Comparison
Both EFZ and YXI have an expense ratio of 0.95%.
Dividends
EFZ vs. YXI - Dividend Comparison
EFZ's dividend yield for the trailing twelve months is around 4.04%, more than YXI's 2.84% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
EFZ ProShares Short MSCI EAFE | 4.04% | 4.55% | 5.29% | 4.66% | 0.57% | 0.00% | 0.04% | 1.56% | 0.34% |
YXI ProShares Short FTSE China 50 | 2.84% | 3.60% | 4.35% | 2.66% | 0.27% | 0.00% | 0.08% | 1.01% | 0.25% |
Frequently Asked Questions
EFZ and YXI have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
YXI has higher volatility (7.21%) compared to EFZ (5.19%). In terms of maximum drawdown, EFZ dropped -88.08% vs YXI's -81.15%.
On 10-year performance, YXI leads with -8.25% vs -8.29% for EFZ. Both ETFs have the same 0.95% expense ratio. On volatility, EFZ has been the lower-risk option at 5.19%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, YXI has performed better with a -8.25% return vs -8.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EFZ and YXI have the same expense ratio: 0.95% per year.
EFZ has the higher dividend yield at 4.04%, compared with 2.84% for YXI.
EFZ tracks MSCI EAFE Index (-100%), while YXI tracks FTSE China 50 Net Tax USD (TR) (-100%).
YXI currently has the higher Sharpe Ratio (0.00 vs -0.88), 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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