FCA vs. YXI
FCA (First Trust China AlphaDEX Fund) and YXI (ProShares Short FTSE China 50) are both China Equities funds - FCA tracks the NASDAQ AlphaDEX China Index while YXI tracks the FTSE China 50 Net Tax USD (TR) (-100%). Both are passively managed. Over the past 10 years, FCA returned 7.34%/yr vs -7.09%/yr for YXI. At a correlation of -0.62, they often move in opposite directions. FCA charges 0.80%/yr vs 0.95%/yr for YXI.
Performance
FCA vs. YXI - Performance Comparison
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Returns By Period
In the year-to-date period, FCA achieves a -6.22% return, which is significantly lower than YXI's 14.77% return. Over the past 10 years, FCA has outperformed YXI with an annualized return of 7.34%, while YXI has yielded a comparatively lower -7.09% annualized return.
FCA
- 1D
- -2.14%
- 1M
- -13.42%
- 6M
- -15.08%
- YTD
- -6.22%
- 1Y
- 10.52%
- 3Y*
- 13.13%
- 5Y*
- 1.14%
- 10Y*
- 7.34%
YXI
- 1D
- 0.36%
- 1M
- 4.81%
- 6M
- 21.88%
- YTD
- 14.77%
- 1Y
- 9.36%
- 3Y*
- -8.77%
- 5Y*
- -2.35%
- 10Y*
- -7.09%
FCA vs. YXI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FCA First Trust China AlphaDEX Fund | -6.22% | 45.20% | 14.07% | -8.28% | -17.61% | -0.65% | 11.80% | 18.72% | -18.30% | 60.26% |
YXI ProShares Short FTSE China 50 | 14.77% | -22.87% | -25.36% | 12.40% | 4.78% | 13.94% | -17.95% | -14.35% | 9.63% | -28.43% |
Correlation
The correlation between FCA and YXI is -0.54, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.64 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.63 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.65 |
Correlation (All Time) Calculated using the full available price history since Apr 21, 2011 | -0.62 |
The correlation between FCA and YXI shifts across timeframes, from -0.65 (10 years) to -0.54 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FCA vs. YXI — Risk / Return Rank
FCA
YXI
FCA vs. YXI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust China AlphaDEX Fund (FCA) 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.
| FCA | YXI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.09 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 0.45 | 0.83 | -0.37 |
| Martin ratioReturn relative to average drawdown | 1.56 | 1.66 | -0.09 |
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Drawdowns
FCA vs. YXI - Drawdown Comparison
The maximum FCA drawdown since its inception was -45.56%, smaller than the maximum YXI drawdown of -81.15%. Use the drawdown chart below to compare losses from any high point for FCA and YXI.
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Drawdown Indicators
| FCA | YXI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.56% | -81.15% | +35.59% |
Max Drawdown (1Y)Largest decline over 1 year | -23.38% | -11.39% | -11.99% |
Max Drawdown (3Y)Largest decline over 3 years | -26.13% | -53.12% | +26.99% |
Max Drawdown (5Y)Largest decline over 5 years | -42.47% | -57.65% | +15.18% |
Max Drawdown (10Y)Largest decline over 10 years | -42.47% | -61.79% | +19.32% |
Current DrawdownCurrent decline from peak | -23.38% | -76.57% | +53.19% |
Average DrawdownAverage peak-to-trough decline | -21.61% | -54.43% | +32.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.74% | 6.14% | +0.60% |
Volatility
FCA vs. YXI - Volatility Comparison
First Trust China AlphaDEX Fund (FCA) has a higher volatility of 8.67% compared to ProShares Short FTSE China 50 (YXI) at 7.41%. This indicates that FCA'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
| FCA | YXI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.67% | 7.41% | +1.26% |
Volatility (6M)Calculated over the trailing 6-month period | 18.05% | 15.74% | +2.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.73% | 20.65% | +3.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.81% | 31.47% | -3.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.72% | 27.44% | -0.72% |
FCA vs. YXI - Expense Ratio Comparison
FCA has a 0.80% expense ratio, which is lower than YXI's 0.95% expense ratio.
Dividends
FCA vs. YXI - Dividend Comparison
FCA's dividend yield for the trailing twelve months is around 3.01%, more than YXI's 2.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCA First Trust China AlphaDEX Fund | 3.01% | 2.67% | 5.17% | 5.70% | 6.00% | 4.91% | 4.12% | 3.73% | 3.10% | 2.30% | 2.51% | 4.13% |
YXI ProShares Short FTSE China 50 | 2.48% | 3.60% | 4.35% | 2.66% | 0.27% | 0.00% | 0.08% | 1.01% | 0.25% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FCA and YXI 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.
FCA has higher volatility (8.67%) compared to YXI (7.41%). In terms of maximum drawdown, FCA dropped -45.56% vs YXI's -81.15%.
On 10-year performance, FCA leads with 7.34% vs -7.09% for YXI. On fees, FCA is cheaper at 0.80% per year. On volatility, YXI has been the lower-risk option at 7.41%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FCA has performed better with a 7.34% return vs -7.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FCA is cheaper with a 0.80% expense ratio, compared with 0.95% for YXI.
FCA has the higher dividend yield at 3.01%, compared with 2.48% for YXI.
FCA tracks NASDAQ AlphaDEX China Index, while YXI tracks FTSE China 50 Net Tax USD (TR) (-100%). They also come from different issuers: First Trust and ProShares. Their fees differ too: 0.80% for FCA and 0.95% for YXI.
YXI currently has the higher Sharpe Ratio (0.46 vs 0.45), 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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