FXP vs. CNXT
Compare and contrast key facts about ProShares UltraShort FTSE China 50 (FXP) and VanEck Vectors ChinaAMC SME-ChiNext ETF (CNXT).
FXP and CNXT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FXP is a passively managed fund by ProShares that tracks the performance of the FTSE China 50 Net Tax USD (TR) (-200%). It was launched on Nov 8, 2007. CNXT is a passively managed fund by VanEck that tracks the performance of the SME-ChiNext 100 Index. It was launched on Jul 24, 2014. Both FXP and CNXT 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
FXP vs. CNXT - Performance Comparison
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FXP vs. CNXT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FXP ProShares UltraShort FTSE China 50 | 13.74% | -45.32% | -52.46% | 12.74% | -11.73% | 23.56% | -39.47% | -29.01% | 12.45% | -49.76% |
CNXT VanEck Vectors ChinaAMC SME-ChiNext ETF | 3.20% | 59.31% | 12.42% | -21.47% | -35.58% | 8.78% | 63.30% | 42.66% | -39.48% | 20.19% |
Returns By Period
In the year-to-date period, FXP achieves a 13.74% return, which is significantly higher than CNXT's 3.20% return. Over the past 10 years, FXP has underperformed CNXT with an annualized return of -23.35%, while CNXT has yielded a comparatively higher 3.87% annualized return.
FXP
- 1D
- 1.76%
- 1M
- 6.33%
- YTD
- 13.74%
- 6M
- 29.26%
- 1Y
- -11.66%
- 3Y*
- -27.25%
- 5Y*
- -16.43%
- 10Y*
- -23.35%
CNXT
- 1D
- -0.62%
- 1M
- -2.00%
- YTD
- 3.20%
- 6M
- 2.49%
- 1Y
- 65.33%
- 3Y*
- 12.24%
- 5Y*
- 1.47%
- 10Y*
- 3.87%
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FXP vs. CNXT - Expense Ratio Comparison
FXP has a 0.95% expense ratio, which is higher than CNXT's 0.65% expense ratio.
Return for Risk
FXP vs. CNXT — Risk / Return Rank
FXP
CNXT
FXP vs. CNXT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort FTSE China 50 (FXP) and VanEck Vectors ChinaAMC SME-ChiNext ETF (CNXT). 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.
| FXP | CNXT | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.25 | 2.06 | -2.30 |
Sortino ratioReturn per unit of downside risk | -0.03 | 2.57 | -2.61 |
Omega ratioGain probability vs. loss probability | 1.00 | 1.36 | -0.37 |
Calmar ratioReturn relative to maximum drawdown | -0.21 | 3.71 | -3.93 |
Martin ratioReturn relative to average drawdown | -0.26 | 13.62 | -13.88 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FXP | CNXT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.25 | 2.06 | -2.30 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.26 | 0.04 | -0.30 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.43 | 0.12 | -0.55 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.44 | 0.16 | -0.61 |
Correlation
The correlation between FXP and CNXT is -0.58. 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
FXP vs. CNXT - Dividend Comparison
FXP's dividend yield for the trailing twelve months is around 4.11%, more than CNXT's 0.17% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FXP ProShares UltraShort FTSE China 50 | 4.11% | 9.57% | 3.55% | 2.20% | 0.06% | 0.00% | 0.06% | 1.20% | 0.16% | 0.00% |
CNXT VanEck Vectors ChinaAMC SME-ChiNext ETF | 0.17% | 0.18% | 0.15% | 0.00% | 0.00% | 9.22% | 0.01% | 0.45% | 0.00% | 0.19% |
Drawdowns
FXP vs. CNXT - Drawdown Comparison
The maximum FXP drawdown since its inception was -99.94%, which is greater than CNXT's maximum drawdown of -68.98%. Use the drawdown chart below to compare losses from any high point for FXP and CNXT.
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Drawdown Indicators
| FXP | CNXT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.94% | -68.98% | -30.96% |
Max Drawdown (1Y)Largest decline over 1 year | -52.42% | -17.35% | -35.07% |
Max Drawdown (5Y)Largest decline over 5 years | -87.85% | -61.21% | -26.64% |
Max Drawdown (10Y)Largest decline over 10 years | -95.29% | -63.30% | -31.99% |
Current DrawdownCurrent decline from peak | -99.92% | -24.37% | -75.55% |
Average DrawdownAverage peak-to-trough decline | -94.10% | -43.41% | -50.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 42.53% | 4.73% | +37.80% |
Volatility
FXP vs. CNXT - Volatility Comparison
ProShares UltraShort FTSE China 50 (FXP) has a higher volatility of 13.38% compared to VanEck Vectors ChinaAMC SME-ChiNext ETF (CNXT) at 7.46%. This indicates that FXP's price experiences larger fluctuations and is considered to be riskier than CNXT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FXP | CNXT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.38% | 7.46% | +5.92% |
Volatility (6M)Calculated over the trailing 6-month period | 28.89% | 19.80% | +9.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 47.75% | 31.89% | +15.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 63.03% | 34.92% | +28.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 54.95% | 31.54% | +23.41% |