EUM vs. YXI
EUM (ProShares Short MSCI Emerging Markets) and YXI (ProShares Short FTSE China 50) are both exchange-traded funds - EUM is a Inverse Equities fund tracking the MSCI Emerging Markets Index (-100%), while YXI is a China Equities fund tracking the FTSE China 50 Net Tax USD (TR) (-100%). Both are passively managed. Over the past 10 years, EUM returned -9.08%/yr vs -7.35%/yr for YXI. A 0.80 correlation means they provide meaningful diversification when combined. Both charge a 0.95% expense ratio.
Performance
EUM vs. YXI - Performance Comparison
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Returns By Period
In the year-to-date period, EUM achieves a -16.78% return, which is significantly lower than YXI's 10.86% return. Over the past 10 years, EUM has underperformed YXI with an annualized return of -9.08%, while YXI has yielded a comparatively higher -7.35% annualized return.
EUM
- 1D
- 2.11%
- 1M
- 6.40%
- 6M
- -11.71%
- YTD
- -16.78%
- 1Y
- -25.07%
- 3Y*
- -13.17%
- 5Y*
- -4.72%
- 10Y*
- -9.08%
YXI
- 1D
- -1.28%
- 1M
- 0.04%
- 6M
- 15.92%
- YTD
- 10.86%
- 1Y
- 8.52%
- 3Y*
- -9.98%
- 5Y*
- -2.98%
- 10Y*
- -7.35%
EUM vs. YXI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EUM ProShares Short MSCI Emerging Markets | -16.78% | -22.61% | -0.83% | -3.89% | 21.11% | -1.32% | -24.37% | -15.27% | 14.60% | -28.08% |
YXI ProShares Short FTSE China 50 | 10.86% | -22.87% | -25.36% | 12.40% | 4.78% | 13.94% | -17.95% | -14.35% | 9.63% | -28.43% |
Correlation
The correlation between EUM and YXI is 0.57, 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 | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.78 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Mar 18, 2010 | 0.80 |
Over the past year, the correlation between EUM and YXI has dropped to 0.57 - well below their long-term average of 0.80, suggesting their price drivers have been diverging.
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Return for Risk
EUM vs. YXI — Risk / Return Rank
EUM
YXI
EUM vs. YXI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short MSCI Emerging Markets (EUM) 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.
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.
| EUM | YXI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.46 | ||
| Sortino ratioReturn per unit of downside risk | -2.24 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 1.09 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | -0.76 | 0.75 | -1.51 |
| Martin ratioReturn relative to average drawdown | -1.41 | 1.50 | -2.91 |
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Drawdowns
EUM vs. YXI - Drawdown Comparison
The maximum EUM drawdown since its inception was -93.19%, which is greater than YXI's maximum drawdown of -81.15%. Use the drawdown chart below to compare losses from any high point for EUM and YXI.
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Drawdown Indicators
| EUM | YXI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.19% | -81.15% | -12.04% |
Max Drawdown (1Y)Largest decline over 1 year | -33.23% | -11.39% | -21.84% |
Max Drawdown (3Y)Largest decline over 3 years | -47.97% | -53.12% | +5.15% |
Max Drawdown (5Y)Largest decline over 5 years | -50.87% | -57.65% | +6.78% |
Max Drawdown (10Y)Largest decline over 10 years | -66.12% | -61.79% | -4.33% |
Current DrawdownCurrent decline from peak | -92.49% | -77.36% | -15.13% |
Average DrawdownAverage peak-to-trough decline | -77.24% | -54.45% | -22.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.85% | 5.69% | +12.16% |
Volatility
EUM vs. YXI - Volatility Comparison
ProShares Short MSCI Emerging Markets (EUM) has a higher volatility of 9.82% compared to ProShares Short FTSE China 50 (YXI) at 7.55%. This indicates that EUM's price experiences larger fluctuations and is considered to be riskier 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
| EUM | YXI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.82% | 7.55% | +2.27% |
Volatility (6M)Calculated over the trailing 6-month period | 21.92% | 15.50% | +6.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.11% | 20.63% | +3.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.96% | 31.48% | -11.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.75% | 27.43% | -6.68% |
EUM vs. YXI - Expense Ratio Comparison
Both EUM and YXI have an expense ratio of 0.95%.
Dividends
EUM vs. YXI - Dividend Comparison
EUM's dividend yield for the trailing twelve months is around 4.06%, more than YXI's 2.57% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
EUM ProShares Short MSCI Emerging Markets | 4.06% | 3.98% | 4.22% | 3.86% | 0.82% | 0.00% | 0.15% | 1.35% | 0.88% |
YXI ProShares Short FTSE China 50 | 2.57% | 3.60% | 4.35% | 2.66% | 0.27% | 0.00% | 0.08% | 1.01% | 0.25% |
Frequently Asked Questions
EUM and YXI have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EUM has higher volatility (9.82%) compared to YXI (7.55%). In terms of maximum drawdown, EUM dropped -93.19% vs YXI's -81.15%.
On 10-year performance, YXI leads with -7.35% vs -9.08% for EUM. Both ETFs have the same 0.95% expense ratio. On volatility, YXI has been the lower-risk option at 7.55%. 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 -7.35% return vs -9.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EUM and YXI have the same expense ratio: 0.95% per year.
EUM has the higher dividend yield at 4.06%, compared with 2.57% for YXI.
EUM is categorized as Inverse Equities, while YXI is China Equities. EUM tracks MSCI Emerging Markets Index (-100%), while YXI tracks FTSE China 50 Net Tax USD (TR) (-100%).
YXI currently has the higher Sharpe Ratio (0.41 vs -1.04), 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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