FXP vs. RLBGX

Last updated Jun 24, 2026

FXP (ProShares UltraShort FTSE China 50) and RLBGX (American Funds American Balanced Fund Class R-6) are both funds - FXP is a Leveraged Equities fund tracking the FTSE China 50 Net Tax USD (TR) (-200%), while RLBGX is a Diversified Portfolio fund managed by American Funds. Over the past 10 years, FXP returned -22.28%/yr vs 10.56%/yr for RLBGX. At a correlation of -0.57, they often move in opposite directions. FXP charges 0.95%/yr vs 0.25%/yr for RLBGX.

Performance

FXP vs. RLBGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort FTSE China 50 (FXP) and American Funds American Balanced Fund Class R-6 (RLBGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FXP achieves a 30.56% return, which is significantly higher than RLBGX's 9.55% return. Over the past 10 years, FXP has underperformed RLBGX with an annualized return of -22.28%, while RLBGX has yielded a comparatively higher 10.56% annualized return.

FXP

• 1D: 4.04%
• 1M: 14.69%
• YTD: 30.56%
• 6M: 32.48%
• 1Y: 12.48%
• 3Y*: -27.51%
• 5Y*: -14.41%
• 10Y*: -22.28%

RLBGX

• 1D: -0.32%
• 1M: 1.44%
• YTD: 9.55%
• 6M: 9.49%
• 1Y: 23.09%
• 3Y*: 17.46%
• 5Y*: 9.99%
• 10Y*: 10.56%

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

FXP vs. RLBGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FXP ProShares UltraShort FTSE China 50	30.56%	-45.32%	-52.46%	12.74%	-11.73%	23.56%	-39.47%	-29.01%	12.45%	-49.76%
RLBGX American Funds American Balanced Fund Class R-6	9.55%	18.83%	15.35%	13.92%	-11.85%	16.10%	11.20%	18.95%	-3.07%	14.97%

Correlation

The correlation between FXP and RLBGX is -0.48, 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	-0.48
Correlation (3Y) Calculated over the trailing 3-year period	-0.40
Correlation (5Y) Calculated over the trailing 5-year period	-0.41
Correlation (10Y) Calculated over the trailing 10-year period	-0.51
Correlation (All Time) Calculated using the full available price history since Jan 4, 2010	-0.57

The correlation between FXP and RLBGX shifts across timeframes, from -0.57 (all time) to -0.40 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

FXP vs. RLBGX — Risk / Return Rank

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

FXP

FXP Risk / Return Rank: 14
FXP Sharpe Ratio Rank: 13
FXP Sortino Ratio Rank: 15
FXP Omega Ratio Rank: 14
FXP Calmar Ratio Rank: 15
FXP Martin Ratio Rank: 13

RLBGX

RLBGX Risk / Return Rank: 83
RLBGX Sharpe Ratio Rank: 86
RLBGX Sortino Ratio Rank: 83
RLBGX Omega Ratio Rank: 82
RLBGX Calmar Ratio Rank: 80
RLBGX Martin Ratio Rank: 87

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.

FXP vs. RLBGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort FTSE China 50 (FXP) and American Funds American Balanced Fund Class R-6 (RLBGX). 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	RLBGX	Difference
Sharpe ratio: Return per unit of total volatility	0.32	2.61	-2.29
Sortino ratio: Return per unit of downside risk	0.72	3.62	-2.90
Omega ratio: Gain probability vs. loss probability	1.09	1.49	-0.41
Calmar ratio: Return relative to maximum drawdown	0.51	3.43	-2.92
Martin ratio: Return relative to average drawdown	0.89	15.17	-14.29

FXP vs. RLBGX - Sharpe Ratio Comparison

The current FXP Sharpe Ratio is 0.32, which is lower than the RLBGX Sharpe Ratio of 2.61. The chart below compares the historical Sharpe Ratios of FXP and RLBGX, 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

FXP vs. RLBGX - Drawdown Comparison

The maximum FXP drawdown since its inception was -99.94%, which is greater than RLBGX's maximum drawdown of -22.33%. Use the drawdown chart below to compare losses from any high point for FXP and RLBGX.

Drawdown Indicators

	FXP	RLBGX	Difference
Max Drawdown Largest peak-to-trough decline	-99.94%	-22.33%	-77.61%
Max Drawdown (1Y) Largest decline over 1 year	-24.73%	-6.98%	-17.75%
Max Drawdown (3Y) Largest decline over 3 years	-82.34%	-10.65%	-71.69%
Max Drawdown (5Y) Largest decline over 5 years	-87.85%	-18.59%	-69.26%
Max Drawdown (10Y) Largest decline over 10 years	-94.71%	-22.33%	-72.38%
Current Drawdown Current decline from peak	-99.91%	-0.51%	-99.40%
Average Drawdown Average peak-to-trough decline	-94.15%	-2.46%	-91.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.56%	1.57%	+12.99%

Volatility

FXP vs. RLBGX - Volatility Comparison

ProShares UltraShort FTSE China 50 (FXP) has a higher volatility of 12.22% compared to American Funds American Balanced Fund Class R-6 (RLBGX) at 3.40%. This indicates that FXP's price experiences larger fluctuations and is considered to be riskier than RLBGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FXP	RLBGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.22%	3.40%	+8.82%
Volatility (6M) Calculated over the trailing 6-month period	29.48%	7.29%	+22.19%
Volatility (1Y) Calculated over the trailing 1-year period	39.65%	9.19%	+30.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	63.21%	10.57%	+52.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	54.78%	10.72%	+44.06%

FXP vs. RLBGX - Expense Ratio Comparison

FXP has a 0.95% expense ratio, which is higher than RLBGX's 0.25% expense ratio.

Dividends

FXP vs. RLBGX - Dividend Comparison

FXP's dividend yield for the trailing twelve months is around 3.58%, less than RLBGX's 7.41% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FXP ProShares UltraShort FTSE China 50	3.58%	9.57%	3.55%	2.20%	0.06%	0.00%	0.06%	1.20%	0.16%	0.00%	0.00%	0.00%
RLBGX American Funds American Balanced Fund Class R-6	7.41%	8.56%	7.50%	2.27%	2.63%	4.59%	4.65%	3.78%	5.81%	4.92%	4.54%	5.91%

Frequently Asked Questions

Can I hold both FXP and RLBGX in my portfolio?

FXP and RLBGX have a correlation of -0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FXP or RLBGX?

FXP has higher volatility (12.22%) compared to RLBGX (3.40%). In terms of maximum drawdown, FXP dropped -99.94% vs RLBGX's -22.33%.

Which has better risk-adjusted returns?

RLBGX currently has the higher Sharpe Ratio (2.61 vs 0.32), 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.