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FCA vs. YANG
Performance
Return for Risk
Dividends
Drawdowns
Volatility

FCA vs. YANG

Last updated Apr 2, 2026

Compare and contrast key facts about First Trust China AlphaDEX Fund (FCA) and Direxion Daily China 3x Bear Shares (YANG).

FCA and YANG are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FCA is a passively managed fund by First Trust that tracks the performance of the NASDAQ AlphaDEX China Index. It was launched on Apr 18, 2011. YANG is a passively managed fund by Direxion that tracks the performance of the FTSE China 50 Index (-300%). It was launched on Dec 3, 2009. Both FCA and YANG are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

FCA vs. YANG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust China AlphaDEX Fund (FCA) and Direxion Daily China 3x Bear Shares (YANG). The values are adjusted to include any dividend payments, if applicable.

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FCA vs. YANG - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FCA
First Trust China AlphaDEX Fund		11.25%45.20%14.07%-8.28%-17.61%-0.65%11.80%18.72%-18.30%60.26%
YANG
Direxion Daily China 3x Bear Shares		20.02%-62.77%-71.41%11.95%-41.34%25.90%-58.66%-40.72%13.14%-64.93%

Returns By Period

In the year-to-date period, FCA achieves a 11.25% return, which is significantly lower than YANG's 20.02% return. Over the past 10 years, FCA has outperformed YANG with an annualized return of 9.44%, while YANG has yielded a comparatively lower -39.11% annualized return.

FCA

1D
0.35%
1M
-8.43%
YTD
11.25%
6M
8.59%
1Y
53.44%
3Y*
18.13%
5Y*
6.02%
10Y*
9.44%

YANG

1D
2.68%
1M
9.80%
YTD
20.02%
6M
44.40%
1Y
-22.06%
3Y*
-43.56%
5Y*
-33.55%
10Y*
-39.11%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

First Trust China AlphaDEX Fund

Direxion Daily China 3x Bear Shares

Often compared with FCA:
FCA vs. KGRNFCA vs. KLIPFCA vs. SPYFCA vs. DIVOFCA vs. YINNFCA vs. SMINFCA vs. SCHD
Often compared with YANG:
YANG vs. YINNYANG vs. CWEBYANG vs. GLLYANG vs. TYOYANG vs. KLIPYANG vs. FXPYANG vs. EDZ

FCA vs. YANG - Expense Ratio Comparison

FCA has a 0.80% expense ratio, which is lower than YANG's 1.07% expense ratio.

YANG
Direxion Daily China 3x Bear Shares
FCA
First Trust China AlphaDEX Fund

Return for Risk

FCA vs. YANG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FCA
FCA Risk / Return Rank: 9090
Overall Rank
FCA Sharpe Ratio Rank: 9090
Sharpe Ratio Rank
FCA Sortino Ratio Rank: 8888
Sortino Ratio Rank
FCA Omega Ratio Rank: 8888
Omega Ratio Rank
FCA Calmar Ratio Rank: 9292
Calmar Ratio Rank
FCA Martin Ratio Rank: 9494
Martin Ratio Rank
YANG
YANG Risk / Return Rank: 88
Overall Rank
YANG Sharpe Ratio Rank: 66
Sharpe Ratio Rank
YANG Sortino Ratio Rank: 1010
Sortino Ratio Rank
YANG Omega Ratio Rank: 99
Omega Ratio Rank
YANG Calmar Ratio Rank: 77
Calmar Ratio Rank
YANG Martin Ratio Rank: 99
Martin Ratio Rank
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.

FCA vs. YANG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust China AlphaDEX Fund (FCA) 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.

FCAYANGDifference

Sharpe ratio

Return per unit of total volatility

2.05

-0.31

+2.36

Sortino ratio

Return per unit of downside risk

2.54

0.01

+2.53

Omega ratio

Gain probability vs. loss probability

1.37

1.00

+0.37

Calmar ratio

Return relative to maximum drawdown

3.45

-0.32

+3.76

Martin ratio

Return relative to average drawdown

15.39

-0.38

+15.77

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FCA vs. YANG - Sharpe Ratio Comparison

The current FCA Sharpe Ratio is 2.05, which is higher than the YANG Sharpe Ratio of -0.31. The chart below compares the historical Sharpe Ratios of FCA and YANG, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

FCAYANGDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.05

-0.31

+2.36

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.22

-0.36

+0.58

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.36

-0.48

+0.83

Sharpe Ratio (All Time)

Calculated using the full available price history

0.13

-0.49

+0.62

Correlation

The correlation between FCA and YANG is -0.63. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

FCA vs. YANG - Dividend Comparison

FCA's dividend yield for the trailing twelve months is around 2.32%, less than YANG's 3.40% yield.

TTM20252024202320222021202020192018201720162015
FCA
First Trust China AlphaDEX Fund		2.32%2.67%5.17%5.70%6.00%4.91%4.12%3.73%3.10%2.30%2.51%4.13%
YANG
Direxion Daily China 3x Bear Shares		3.40%4.03%9.42%3.66%0.00%0.00%0.67%1.54%0.56%0.00%0.00%0.00%

Drawdowns

FCA vs. YANG - Drawdown Comparison

The maximum FCA drawdown since its inception was -45.56%, smaller than the maximum YANG drawdown of -99.98%. Use the drawdown chart below to compare losses from any high point for FCA and YANG.

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Drawdown Indicators

FCAYANGDifference

Max Drawdown

Largest peak-to-trough decline

-45.56%

-99.98%

+54.42%

Max Drawdown (1Y)

Largest decline over 1 year

-15.81%

-68.02%

+52.21%

Max Drawdown (5Y)

Largest decline over 5 years

-42.47%

-97.38%

+54.91%

Max Drawdown (10Y)

Largest decline over 10 years

-42.47%

-99.60%

+57.13%

Current Drawdown

Current decline from peak

-8.43%

-99.97%

+91.54%

Average Drawdown

Average peak-to-trough decline

-21.80%

-90.42%

+68.62%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.54%

57.00%

-53.46%

Volatility

FCA vs. YANG - Volatility Comparison

The current volatility for First Trust China AlphaDEX Fund (FCA) is 7.28%, while Direxion Daily China 3x Bear Shares (YANG) has a volatility of 19.60%. This indicates that FCA 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

FCAYANGDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.28%

19.60%

-12.32%

Volatility (6M)

Calculated over the trailing 6-month period

16.52%

43.29%

-26.77%

Volatility (1Y)

Calculated over the trailing 1-year period

26.17%

71.59%

-45.42%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

27.43%

94.39%

-66.96%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

26.57%

82.22%

-55.65%