FXI vs. YXI
FXI (iShares China Large-Cap ETF) and YXI (ProShares Short FTSE China 50) are both China Equities funds - FXI tracks the FTSE China 50 Index while YXI tracks the FTSE China 50 Net Tax USD (TR) (-100%). Both are passively managed. Over the past 10 years, FXI returned 2.59%/yr vs -7.76%/yr for YXI. Their -0.95 correlation means they have often moved in opposite directions in the past. FXI charges 0.74%/yr vs 0.95%/yr for YXI.
Performance
FXI vs. YXI - Performance Comparison
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Returns By Period
In the year-to-date period, FXI achieves a -4.06% return, which is significantly lower than YXI's 5.02% return. Over the past 10 years, FXI has outperformed YXI with an annualized return of 2.59%, while YXI has yielded a comparatively lower -7.76% annualized return.
FXI
- 1D
- -0.11%
- 1M
- 14.26%
- 6M
- -6.22%
- YTD
- -4.06%
- 1Y
- 0.82%
- 3Y*
- 10.52%
- 5Y*
- -0.17%
- 10Y*
- 2.59%
- ALL TIME*
- 5.58%
YXI
- 1D
- 0.03%
- 1M
- -12.89%
- 6M
- 7.44%
- YTD
- 5.02%
- 1Y
- 0.81%
- 3Y*
- -10.48%
- 5Y*
- -5.16%
- 10Y*
- -7.76%
- ALL TIME*
- -8.25%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $711.55M | $774.56M | $979.33M | |
| $23.42K | $29.48K | $33.89K |
FXI vs. YXI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FXI iShares China Large-Cap ETF | -4.06% | 28.95% | 28.98% | -12.42% | -20.66% | -20.06% | 8.92% | 14.90% | -13.28% | 36.26% |
YXI ProShares Short FTSE China 50 | 5.02% | -22.87% | -25.36% | 12.40% | 4.78% | 13.94% | -17.95% | -14.35% | 9.63% | -28.43% |
Correlation
The correlation between FXI and YXI is -0.93, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.93 |
Correlation (3Y) Balances recent behavior with more history. | -0.97 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.98 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.98 |
Correlation (All Time) Calculated using the full available price history since Mar 18, 2010 | -0.95 |
The correlation between FXI and YXI has been stable across timeframes, ranging from -0.98 to -0.93 - a consistent structural relationship.
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Return for Risk
FXI vs. YXI — Risk / Return Rank
FXI
YXI
FXI vs. YXI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares China Large-Cap ETF (FXI) 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.
| FXI | YXI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | 0.00 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.02 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 0.04 | 0.06 | -0.02 |
| Martin ratioReturn relative to average drawdown | 0.08 | 0.16 | -0.07 |
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Drawdowns
FXI vs. YXI - Drawdown Comparison
The maximum FXI drawdown since its inception was -72.68%, smaller than the maximum YXI drawdown of -81.15%. Use the drawdown chart below to compare losses from any high point for FXI and YXI.
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Drawdown Indicators
| FXI | YXI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -72.68% | -81.15% | +8.47% |
Max Drawdown (1Y)Largest decline over 1 year | -22.94% | -13.55% | -9.39% |
Max Drawdown (3Y)Largest decline over 3 years | -25.56% | -53.12% | +27.56% |
Max Drawdown (5Y)Largest decline over 5 years | -49.88% | -57.65% | +7.77% |
Max Drawdown (10Y)Largest decline over 10 years | -60.81% | -61.63% | +0.82% |
Current DrawdownCurrent decline from peak | -24.45% | -78.56% | +54.11% |
Average DrawdownAverage peak-to-trough decline | -31.21% | -54.52% | +23.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.03% | 6.14% | +3.89% |
Volatility
FXI vs. YXI - Volatility Comparison
The current volatility for iShares China Large-Cap ETF (FXI) is 5.13%, while ProShares Short FTSE China 50 (YXI) has a volatility of 6.94%. This indicates that FXI 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
| FXI | YXI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.13% | 6.94% | -1.81% |
Volatility (6M)Calculated over the trailing 6-month period | 14.33% | 15.88% | -1.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.27% | 21.12% | -0.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.44% | 31.29% | +0.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.61% | 27.48% | +0.13% |
FXI vs. YXI - Expense Ratio Comparison
FXI has a 0.74% expense ratio, which is lower than YXI's 0.95% expense ratio.
Dividends
FXI vs. YXI - Dividend Comparison
FXI's dividend yield for the trailing twelve months is around 1.86%, less than YXI's 2.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FXI iShares China Large-Cap ETF | 1.86% | 2.42% | 1.76% | 3.17% | 2.61% | 1.60% | 2.19% | 2.74% | 2.69% | 2.31% | 2.69% | 2.90% |
YXI ProShares Short FTSE China 50 | 2.71% | 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
FXI and YXI have a correlation of -0.93, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
YXI has higher volatility (6.94%) compared to FXI (5.13%). In terms of maximum drawdown, FXI dropped -72.68% vs YXI's -81.15%.
On 10-year performance, FXI leads with 2.59% vs -7.76% for YXI. On fees, FXI is cheaper at 0.74% per year. On volatility, FXI has been the lower-risk option at 5.13%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FXI has performed better with a 2.59% return vs -7.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FXI is cheaper with a 0.74% expense ratio, compared with 0.95% for YXI.
YXI has the higher dividend yield at 2.71%, compared with 1.86% for FXI.
FXI tracks FTSE China 50 Index, while YXI tracks FTSE China 50 Net Tax USD (TR) (-100%). They also come from different issuers: iShares and ProShares. Their fees differ too: 0.74% for FXI and 0.95% for YXI.
FXI currently has the higher Sharpe Ratio (0.04 vs 0.04), 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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