FXP vs. YANG
Compare and contrast key facts about ProShares UltraShort FTSE China 50 (FXP) and Direxion Daily China 3x Bear Shares (YANG).
FXP and YANG 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. YANG is a passively managed fund by Direxion that tracks the performance of the FTSE China 50 Index (-300%). It was launched on Dec 3, 2009. Both FXP and YANG are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FXP or YANG.
Key characteristics
| FXP | YANG | |
|---|---|---|
| YTD Return | -49.08% | -68.98% |
| 1Y Return | -41.64% | -62.77% |
| 3Y Return (Ann) | -14.90% | -35.83% |
| 5Y Return (Ann) | -20.34% | -39.58% |
| 10Y Return (Ann) | -19.93% | -35.86% |
| Sharpe Ratio | -0.67 | -0.65 |
| Sortino Ratio | -0.73 | -0.73 |
| Omega Ratio | 0.91 | 0.91 |
| Calmar Ratio | -0.44 | -0.65 |
| Martin Ratio | -1.19 | -1.31 |
| Ulcer Index | 36.95% | 49.64% |
| Daily Std Dev | 66.12% | 99.82% |
| Max Drawdown | -99.90% | -99.96% |
| Current Drawdown | -99.86% | -99.94% |
Correlation
The correlation between FXP and YANG is 0.97, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
FXP vs. YANG - Performance Comparison
In the year-to-date period, FXP achieves a -49.08% return, which is significantly higher than YANG's -68.98% return. Over the past 10 years, FXP has outperformed YANG with an annualized return of -19.93%, while YANG has yielded a comparatively lower -35.86% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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FXP vs. YANG - Expense Ratio Comparison
FXP has a 0.95% expense ratio, which is lower than YANG's 1.07% expense ratio.
Risk-Adjusted Performance
FXP vs. YANG - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort FTSE China 50 (FXP) and Direxion Daily China 3x Bear Shares (YANG). 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.
Dividends
FXP vs. YANG - Dividend Comparison
FXP's dividend yield for the trailing twelve months is around 4.72%, less than YANG's 8.14% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|
FXP ProShares UltraShort FTSE China 50 | 4.72% | 2.20% | 0.06% | 0.00% | 0.06% | 1.20% | 0.16% |
YANG Direxion Daily China 3x Bear Shares | 8.14% | 1.89% | 0.00% | 0.00% | 0.68% | 1.31% | 0.56% |
Drawdowns
FXP vs. YANG - Drawdown Comparison
The maximum FXP drawdown since its inception was -99.90%, roughly equal to the maximum YANG drawdown of -99.96%. Use the drawdown chart below to compare losses from any high point for FXP and YANG. For additional features, visit the drawdowns tool.
Volatility
FXP vs. YANG - Volatility Comparison
The current volatility for ProShares UltraShort FTSE China 50 (FXP) is 22.72%, while Direxion Daily China 3x Bear Shares (YANG) has a volatility of 34.56%. This indicates that FXP experiences smaller price fluctuations and is considered to be less risky than YANG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.