FLCH vs. YXI
FLCH (Franklin FTSE China ETF) and YXI (ProShares Short FTSE China 50) are both China Equities funds - FLCH tracks the FTSE China RIC Capped Index while YXI tracks the FTSE China 50 Net Tax USD (TR) (-100%). Both are passively managed. Over the past 5 years, FLCH returned -4.90%/yr vs -2.35%/yr for YXI. At a correlation of -0.94, they often move in opposite directions. FLCH charges 0.19%/yr vs 0.95%/yr for YXI.
Performance
FLCH vs. YXI - Performance Comparison
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Returns By Period
In the year-to-date period, FLCH achieves a -10.43% return, which is significantly lower than YXI's 14.77% return.
FLCH
- 1D
- 1.38%
- 1M
- -2.35%
- 6M
- -15.07%
- YTD
- -10.43%
- 1Y
- -1.41%
- 3Y*
- 7.85%
- 5Y*
- -4.90%
- 10Y*
- —
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%
FLCH vs. YXI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FLCH Franklin FTSE China ETF | -10.43% | 32.55% | 18.00% | -11.21% | -22.74% | -20.87% | 30.09% | 24.32% | -19.52% | 1.51% |
YXI ProShares Short FTSE China 50 | 14.77% | -22.87% | -25.36% | 12.40% | 4.78% | 13.94% | -17.95% | -14.35% | 9.63% | -2.53% |
Correlation
The correlation between FLCH and YXI is -0.86, 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 | -0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.93 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.95 |
Correlation (All Time) Calculated using the full available price history since Nov 6, 2017 | -0.94 |
The correlation between FLCH and YXI has been stable across timeframes, ranging from -0.95 to -0.86 - a consistent structural relationship.
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Return for Risk
FLCH vs. YXI — Risk / Return Rank
FLCH
YXI
FLCH vs. YXI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin FTSE China ETF (FLCH) 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.
| FLCH | YXI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.53 | ||
| Sortino ratioReturn per unit of downside risk | -0.74 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.09 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | -0.07 | 0.83 | -0.89 |
| Martin ratioReturn relative to average drawdown | -0.15 | 1.66 | -1.81 |
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Drawdowns
FLCH vs. YXI - Drawdown Comparison
The maximum FLCH drawdown since its inception was -62.09%, smaller than the maximum YXI drawdown of -81.15%. Use the drawdown chart below to compare losses from any high point for FLCH and YXI.
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Drawdown Indicators
| FLCH | YXI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.09% | -81.15% | +19.06% |
Max Drawdown (1Y)Largest decline over 1 year | -21.48% | -11.39% | -10.09% |
Max Drawdown (3Y)Largest decline over 3 years | -25.43% | -53.12% | +27.69% |
Max Drawdown (5Y)Largest decline over 5 years | -52.77% | -57.65% | +4.88% |
Max Drawdown (10Y)Largest decline over 10 years | — | -61.79% | — |
Current DrawdownCurrent decline from peak | -36.86% | -76.57% | +39.71% |
Average DrawdownAverage peak-to-trough decline | -30.60% | -54.43% | +23.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.53% | 6.14% | +3.39% |
Volatility
FLCH vs. YXI - Volatility Comparison
The current volatility for Franklin FTSE China ETF (FLCH) is 5.66%, while ProShares Short FTSE China 50 (YXI) has a volatility of 7.41%. This indicates that FLCH 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
| FLCH | YXI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.66% | 7.41% | -1.75% |
Volatility (6M)Calculated over the trailing 6-month period | 13.95% | 15.74% | -1.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.60% | 20.65% | -1.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.58% | 31.47% | -1.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.81% | 27.44% | +0.37% |
FLCH vs. YXI - Expense Ratio Comparison
FLCH has a 0.19% expense ratio, which is lower than YXI's 0.95% expense ratio.
Dividends
FLCH vs. YXI - Dividend Comparison
FLCH's dividend yield for the trailing twelve months is around 2.42%, less than YXI's 2.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
FLCH Franklin FTSE China ETF | 2.42% | 2.36% | 2.87% | 3.47% | 2.69% | 1.48% | 0.91% | 1.98% | 1.92% | 0.01% |
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% |
Frequently Asked Questions
FLCH and YXI have a correlation of -0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
YXI has higher volatility (7.41%) compared to FLCH (5.66%). In terms of maximum drawdown, FLCH dropped -62.09% vs YXI's -81.15%.
On 5-year performance, YXI leads with -2.35% vs -4.90% for FLCH. On fees, FLCH is cheaper at 0.19% per year. On volatility, FLCH has been the lower-risk option at 5.66%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, YXI has performed better with a -2.35% return vs -4.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FLCH is cheaper with a 0.19% expense ratio, compared with 0.95% for YXI.
YXI has the higher dividend yield at 2.48%, compared with 2.42% for FLCH.
FLCH tracks FTSE China RIC Capped Index, while YXI tracks FTSE China 50 Net Tax USD (TR) (-100%). They also come from different issuers: Franklin Templeton and ProShares. Their fees differ too: 0.19% for FLCH and 0.95% for YXI.
YXI currently has the higher Sharpe Ratio (0.46 vs -0.07), 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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