FXI vs. NAIL

Last updated Jun 13, 2026

FXI (iShares China Large-Cap ETF) and NAIL (Direxion Daily Homebuilders & Supplies Bull 3X Shares) are both exchange-traded funds - FXI is a China Equities fund tracking the FTSE China 50 Index, while NAIL is a Leveraged Equities fund tracking the Dow Jones U.S. Select Home Construction Index (300%). Both are passively managed. Over the past 10 years, FXI returned 3.13%/yr vs 6.16%/yr for NAIL. At a 0.30 correlation, their price movements are largely independent. FXI charges 0.74%/yr vs 0.99%/yr for NAIL.

Performance

FXI vs. NAIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares China Large-Cap ETF (FXI) and Direxion Daily Homebuilders & Supplies Bull 3X Shares (NAIL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FXI achieves a -7.83% return, which is significantly higher than NAIL's -13.15% return. Over the past 10 years, FXI has underperformed NAIL with an annualized return of 3.13%, while NAIL has yielded a comparatively higher 6.16% annualized return.

FXI

• 1D: 1.09%
• 1M: -7.76%
• YTD: -7.83%
• 6M: -8.72%
• 1Y: -2.91%
• 3Y*: 10.41%
• 5Y*: -3.08%
• 10Y*: 3.13%

NAIL

• 1D: -2.18%
• 1M: 25.39%
• YTD: -13.15%
• 6M: -27.97%
• 1Y: -17.64%
• 3Y*: -11.92%
• 5Y*: -9.97%
• 10Y*: 6.16%

*Multi-year figures are annualized to reflect compound growth (CAGR)

FXI vs. NAIL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FXI iShares China Large-Cap ETF	-7.83%	28.95%	28.98%	-12.42%	-20.66%	-20.06%	8.92%	14.90%	-13.28%	36.26%
NAIL Direxion Daily Homebuilders & Supplies Bull 3X Shares	-13.15%	-40.43%	-22.83%	259.61%	-75.23%	168.20%	-32.08%	184.63%	-73.96%	268.71%

Correlation

The correlation between FXI and NAIL is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.24
Correlation (3Y) Calculated over the trailing 3-year period	0.26
Correlation (5Y) Calculated over the trailing 5-year period	0.28
Correlation (10Y) Calculated over the trailing 10-year period	0.30
Correlation (All Time) Calculated using the full available price history since Aug 19, 2015	0.30

FXI vs. NAIL - Sectors Allocation Comparison

Sectors	FXI	NAIL
Financial Services	34.6%	-
Consumer Cyclical	25.3%	71.8%
Communication Services	12.2%	-
Technology	9.3%	-
Energy	5.3%	-
Industrials	4.1%	19.1%
Basic Materials	3.9%	8.6%
Healthcare	2.2%	-
Real Estate	1.1%	0.5%
Consumer Defensive	0.9%	-
Utilities	0.4%	-

Return for Risk

FXI vs. NAIL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FXI

FXI Risk / Return Rank: 8
FXI Sharpe Ratio Rank: 8
FXI Sortino Ratio Rank: 8
FXI Omega Ratio Rank: 8
FXI Calmar Ratio Rank: 8
FXI Martin Ratio Rank: 8

NAIL

NAIL Risk / Return Rank: 9
NAIL Sharpe Ratio Rank: 7
NAIL Sortino Ratio Rank: 11
NAIL Omega Ratio Rank: 11
NAIL Calmar Ratio Rank: 7
NAIL Martin Ratio Rank: 7

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.

FXI vs. NAIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares China Large-Cap ETF (FXI) and Direxion Daily Homebuilders & Supplies Bull 3X Shares (NAIL). 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.

	FXI	NAIL	Difference
Sharpe ratio: Return per unit of total volatility	-0.15	-0.20	+0.05
Sortino ratio: Return per unit of downside risk	-0.07	0.35	-0.42
Omega ratio: Gain probability vs. loss probability	0.99	1.04	-0.05
Calmar ratio: Return relative to maximum drawdown	-0.18	-0.26	+0.08
Martin ratio: Return relative to average drawdown	-0.38	-0.45	+0.07

FXI vs. NAIL - Sharpe Ratio Comparison

The current FXI Sharpe Ratio is -0.15, which is comparable to the NAIL Sharpe Ratio of -0.20. The chart below compares the historical Sharpe Ratios of FXI and NAIL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FXI vs. NAIL - Drawdown Comparison

The maximum FXI drawdown since its inception was -72.68%, smaller than the maximum NAIL drawdown of -93.75%. Use the drawdown chart below to compare losses from any high point for FXI and NAIL.

Drawdown Indicators

	FXI	NAIL	Difference
Max Drawdown Largest peak-to-trough decline	-72.68%	-93.75%	+21.07%
Max Drawdown (1Y) Largest decline over 1 year	-16.03%	-67.85%	+51.82%
Max Drawdown (3Y) Largest decline over 3 years	-28.72%	-82.09%	+53.37%
Max Drawdown (5Y) Largest decline over 5 years	-54.94%	-84.40%	+29.46%
Max Drawdown (10Y) Largest decline over 10 years	-60.81%	-93.75%	+32.94%
Current Drawdown Current decline from peak	-27.42%	-75.18%	+47.76%
Average Drawdown Average peak-to-trough decline	-31.21%	-43.87%	+12.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.66%	39.36%	-31.70%

Volatility

FXI vs. NAIL - Volatility Comparison

The current volatility for iShares China Large-Cap ETF (FXI) is 6.22%, while Direxion Daily Homebuilders & Supplies Bull 3X Shares (NAIL) has a volatility of 26.93%. This indicates that FXI experiences smaller price fluctuations and is considered to be less risky than NAIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FXI	NAIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.22%	26.93%	-20.71%
Volatility (6M) Calculated over the trailing 6-month period	14.30%	61.98%	-47.68%
Volatility (1Y) Calculated over the trailing 1-year period	19.90%	88.92%	-69.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.67%	87.27%	-55.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.64%	89.35%	-61.71%

FXI vs. NAIL - Expense Ratio Comparison

FXI has a 0.74% expense ratio, which is lower than NAIL's 0.99% expense ratio.

Dividends

FXI vs. NAIL - Dividend Comparison

FXI's dividend yield for the trailing twelve months is around 2.62%, more than NAIL's 0.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FXI iShares China Large-Cap ETF	2.62%	2.42%	1.76%	3.17%	2.61%	1.60%	2.19%	2.74%	2.69%	2.31%	2.69%	2.90%
NAIL Direxion Daily Homebuilders & Supplies Bull 3X Shares	0.91%	1.55%	0.63%	0.22%	0.00%	0.00%	0.01%	0.17%	0.35%	1.25%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FXI and NAIL in my portfolio?

FXI and NAIL have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FXI or NAIL?

NAIL has higher volatility (26.93%) compared to FXI (6.22%). In terms of maximum drawdown, FXI dropped -72.68% vs NAIL's -93.75%.

Which ETF is better, FXI or NAIL?

On 10-year performance, NAIL leads with 6.16% vs 3.13% for FXI. On fees, FXI is cheaper at 0.74% per year. On volatility, FXI has been the lower-risk option at 6.22%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FXI or NAIL?

Over the 10-year period, NAIL has performed better with a 6.16% return vs 3.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FXI or NAIL?

FXI is cheaper with a 0.74% expense ratio, compared with 0.99% for NAIL.

Which ETF pays a higher dividend yield, FXI or NAIL?

FXI has the higher dividend yield at 2.62%, compared with 0.91% for NAIL.

What is the main difference between FXI and NAIL?

FXI is categorized as China Equities, while NAIL is Leveraged Equities. FXI tracks FTSE China 50 Index, while NAIL tracks Dow Jones U.S. Select Home Construction Index (300%). They also come from different issuers: iShares and Direxion. Their fees differ too: 0.74% for FXI and 0.99% for NAIL.

Which has better risk-adjusted returns?

FXI currently has the higher Sharpe Ratio (-0.15 vs -0.20), 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.