FXP vs. ISVBF
FXP (ProShares UltraShort FTSE China 50) and ISVBF (iShares MSCI China A UCITS ETF) are both China Equities funds - FXP tracks the FTSE China 50 Net Tax USD (TR) (-200%) while ISVBF tracks the MSCI China A Inclusion Index. Both are passively managed. Over the past 5 years, FXP returned -17.15%/yr vs -5.34%/yr for ISVBF. At a correlation of -0.35, they often move in opposite directions. FXP charges 0.95%/yr vs 0.40%/yr for ISVBF.
Performance
FXP vs. ISVBF - Performance Comparison
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Returns By Period
In the year-to-date period, FXP achieves a 18.47% return, which is significantly higher than ISVBF's -8.71% return.
FXP
- 1D
- -3.86%
- 1M
- 3.05%
- 6M
- 30.45%
- YTD
- 18.47%
- 1Y
- 11.32%
- 3Y*
- -27.15%
- 5Y*
- -17.15%
- 10Y*
- -21.61%
ISVBF
- 1D
- 1.84%
- 1M
- -1.17%
- 6M
- -13.00%
- YTD
- -8.71%
- 1Y
- -1.01%
- 3Y*
- 8.64%
- 5Y*
- -5.34%
- 10Y*
- —
FXP vs. ISVBF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FXP ProShares UltraShort FTSE China 50 | 18.47% | -45.32% | -52.46% | 12.74% | -11.73% | 28.89% |
ISVBF iShares MSCI China A UCITS ETF | -8.71% | 30.64% | 18.96% | -9.28% | -23.01% | -22.12% |
Correlation
The correlation between FXP and ISVBF is -0.67, 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 | -0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.51 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.35 |
Correlation (All Time) Calculated using the full available price history since May 5, 2021 | -0.35 |
Over the past year, the inverse relationship between FXP and ISVBF has strengthened: their correlation has moved from -0.35 to -0.67, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
FXP vs. ISVBF — Risk / Return Rank
FXP
ISVBF
FXP vs. ISVBF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort FTSE China 50 (FXP) and iShares MSCI China A UCITS ETF (ISVBF). 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.
| FXP | ISVBF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.32 | ||
| Sortino ratioReturn per unit of downside risk | +0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.02 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.52 | -0.04 | +0.56 |
| Martin ratioReturn relative to average drawdown | 0.95 | -0.10 | +1.04 |
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Drawdowns
FXP vs. ISVBF - Drawdown Comparison
The maximum FXP drawdown since its inception was -99.94%, which is greater than ISVBF's maximum drawdown of -53.78%. Use the drawdown chart below to compare losses from any high point for FXP and ISVBF.
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Drawdown Indicators
| FXP | ISVBF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.94% | -53.78% | -46.16% |
Max Drawdown (1Y)Largest decline over 1 year | -21.99% | -24.14% | +2.15% |
Max Drawdown (3Y)Largest decline over 3 years | -82.34% | -24.14% | -58.20% |
Max Drawdown (5Y)Largest decline over 5 years | -87.85% | -52.51% | -35.34% |
Max Drawdown (10Y)Largest decline over 10 years | -93.71% | — | — |
Current DrawdownCurrent decline from peak | -99.91% | -26.01% | -73.90% |
Average DrawdownAverage peak-to-trough decline | -94.16% | -32.64% | -61.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.99% | 10.49% | +1.50% |
Volatility
FXP vs. ISVBF - Volatility Comparison
ProShares UltraShort FTSE China 50 (FXP) has a higher volatility of 13.69% compared to iShares MSCI China A UCITS ETF (ISVBF) at 7.72%. This indicates that FXP's price experiences larger fluctuations and is considered to be riskier than ISVBF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FXP | ISVBF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.69% | 7.72% | +5.97% |
Volatility (6M)Calculated over the trailing 6-month period | 29.20% | 27.02% | +2.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 40.34% | 31.48% | +8.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 63.18% | 30.46% | +32.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 54.77% | 30.13% | +24.64% |
FXP vs. ISVBF - Expense Ratio Comparison
FXP has a 0.95% expense ratio, which is higher than ISVBF's 0.40% expense ratio.
Dividends
FXP vs. ISVBF - Dividend Comparison
FXP's dividend yield for the trailing twelve months is around 3.04%, while ISVBF has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
FXP ProShares UltraShort FTSE China 50 | 3.04% | 9.57% | 3.55% | 2.20% | 0.06% | 0.00% | 0.06% | 1.20% | 0.16% |
ISVBF iShares MSCI China A UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FXP and ISVBF have a correlation of -0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FXP has higher volatility (13.69%) compared to ISVBF (7.72%). In terms of maximum drawdown, FXP dropped -99.94% vs ISVBF's -53.78%.
On 5-year performance, ISVBF leads with -5.34% vs -17.15% for FXP. On fees, ISVBF is cheaper at 0.40% per year. On volatility, ISVBF has been the lower-risk option at 7.72%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, ISVBF has performed better with a -5.34% return vs -17.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ISVBF is cheaper with a 0.40% expense ratio, compared with 0.95% for FXP.
FXP has the higher dividend yield at 3.04%, compared with 0.00% for ISVBF.
FXP tracks FTSE China 50 Net Tax USD (TR) (-200%), while ISVBF tracks MSCI China A Inclusion Index. They also come from different issuers: ProShares and iShares. Their fees differ too: 0.95% for FXP and 0.40% for ISVBF.
FXP currently has the higher Sharpe Ratio (0.28 vs -0.03), 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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