KTEC vs. YANG
KTEC (KraneShares Hang Seng TECH Index ETF) and YANG (Direxion Daily China 3x Bear Shares) are both exchange-traded funds - KTEC is a China Equities fund tracking the Hang Seng Tech Index, while YANG is a Leveraged Equities fund tracking the FTSE China 50 Index (-300%). Both are passively managed. Over the past 3 years, KTEC returned 7.14%/yr vs -47.01%/yr for YANG. At a correlation of -0.93, they often move in opposite directions. KTEC charges 0.69%/yr vs 1.07%/yr for YANG.
Performance
KTEC vs. YANG - Performance Comparison
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Returns By Period
In the year-to-date period, KTEC achieves a -11.17% return, which is significantly lower than YANG's 18.42% return.
KTEC
- 1D
- -3.20%
- 1M
- -0.29%
- YTD
- -11.17%
- 6M
- -12.80%
- 1Y
- -8.17%
- 3Y*
- 7.14%
- 5Y*
- —
- 10Y*
- —
YANG
- 1D
- 6.57%
- 1M
- 6.76%
- YTD
- 18.42%
- 6M
- 23.43%
- 1Y
- -12.94%
- 3Y*
- -47.01%
- 5Y*
- -33.76%
- 10Y*
- -38.75%
KTEC vs. YANG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
KTEC KraneShares Hang Seng TECH Index ETF | -11.17% | 21.01% | 16.13% | -10.41% | -26.12% | -29.50% |
YANG Direxion Daily China 3x Bear Shares | 18.42% | -62.77% | -71.41% | 11.95% | -41.34% | 47.74% |
Correlation
The correlation between KTEC and YANG is -0.90, 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 | -0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.92 |
Correlation (All Time) Calculated using the full available price history since Jun 10, 2021 | -0.93 |
The correlation between KTEC and YANG has been stable across timeframes, ranging from -0.93 to -0.90 - a consistent structural relationship.
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Return for Risk
KTEC vs. YANG — Risk / Return Rank
KTEC
YANG
KTEC vs. YANG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for KraneShares Hang Seng TECH Index ETF (KTEC) 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.
| KTEC | YANG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.07 | ||
| Sortino ratioReturn per unit of downside risk | -0.32 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.01 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | -0.28 | -0.33 | +0.05 |
| Martin ratioReturn relative to average drawdown | -0.50 | -0.53 | +0.03 |
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
| KTEC | YANG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.29 | -0.22 | -0.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.36 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.47 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.24 | -0.49 | +0.25 |
Drawdowns
KTEC vs. YANG - Drawdown Comparison
The maximum KTEC drawdown since its inception was -66.90%, smaller than the maximum YANG drawdown of -99.98%. Use the drawdown chart below to compare losses from any high point for KTEC and YANG.
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Drawdown Indicators
| KTEC | YANG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.90% | -99.98% | +33.08% |
Max Drawdown (1Y)Largest decline over 1 year | -29.36% | -38.85% | +9.49% |
Max Drawdown (3Y)Largest decline over 3 years | -34.71% | -94.02% | +59.31% |
Max Drawdown (5Y)Largest decline over 5 years | — | -97.38% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -99.53% | — |
Current DrawdownCurrent decline from peak | -43.95% | -99.97% | +56.02% |
Average DrawdownAverage peak-to-trough decline | -43.97% | -90.52% | +46.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.26% | 26.12% | -9.86% |
Volatility
KTEC vs. YANG - Volatility Comparison
The current volatility for KraneShares Hang Seng TECH Index ETF (KTEC) is 10.62%, while Direxion Daily China 3x Bear Shares (YANG) has a volatility of 21.22%. This indicates that KTEC 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.
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Volatility by Period
| KTEC | YANG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.62% | 21.22% | -10.60% |
Volatility (6M)Calculated over the trailing 6-month period | 20.56% | 42.63% | -22.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.01% | 58.83% | -30.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.22% | 94.44% | -51.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 43.22% | 82.12% | -38.90% |
KTEC vs. YANG - Expense Ratio Comparison
KTEC has a 0.69% expense ratio, which is lower than YANG's 1.07% expense ratio.
Dividends
KTEC vs. YANG - Dividend Comparison
KTEC's dividend yield for the trailing twelve months is around 3.78%, more than YANG's 3.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
KTEC KraneShares Hang Seng TECH Index ETF | 3.78% | 3.36% | 0.27% | 0.81% | 0.16% | 0.00% | 0.00% | 0.00% | 0.00% |
YANG Direxion Daily China 3x Bear Shares | 3.45% | 4.03% | 9.42% | 3.66% | 0.00% | 0.00% | 0.67% | 1.54% | 0.56% |
Frequently Asked Questions
KTEC and YANG have a correlation of -0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
YANG has higher volatility (21.22%) compared to KTEC (10.62%). In terms of maximum drawdown, KTEC dropped -66.90% vs YANG's -99.98%.
On 3-year performance, KTEC leads with 7.14% vs -47.01% for YANG. On fees, KTEC is cheaper at 0.69% per year. On volatility, KTEC has been the lower-risk option at 10.62%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, KTEC has performed better with a 7.14% return vs -47.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KTEC is cheaper with a 0.69% expense ratio, compared with 1.07% for YANG.
KTEC has the higher dividend yield at 3.78%, compared with 3.45% for YANG.
KTEC is categorized as China Equities, while YANG is Leveraged Equities. KTEC tracks Hang Seng Tech Index, while YANG tracks FTSE China 50 Index (-300%). They also come from different issuers: KraneShares and Direxion. Their fees differ too: 0.69% for KTEC and 1.07% for YANG.
YANG currently has the higher Sharpe Ratio (-0.22 vs -0.29), 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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