MAGC vs. CHAU

Last updated Jun 3, 2026

MAGC (Roundhill China Magnificent Seven ETF) and CHAU (Direxion Daily CSI 300 China A Share Bull 2x Shares) are both exchange-traded funds - MAGC is a China Equities fund actively managed by Roundhill, while CHAU is a Leveraged Equities fund tracking the CSI 300 Index (200%). MAGC is actively managed, while CHAU is passively managed. Over the past year, MAGC returned -15.61% vs 83.14% for CHAU. A 0.62 correlation means they provide meaningful diversification when combined. MAGC charges 0.59%/yr vs 1.21%/yr for CHAU.

Performance

MAGC vs. CHAU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill China Magnificent Seven ETF (MAGC) and Direxion Daily CSI 300 China A Share Bull 2x Shares (CHAU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MAGC achieves a -15.36% return, which is significantly lower than CHAU's 17.88% return.

MAGC

• 1D: 4.10%
• 1M: -2.34%
• YTD: -15.36%
• 6M: -17.67%
• 1Y: -15.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CHAU

• 1D: 4.14%
• 1M: 3.96%
• YTD: 17.88%
• 6M: 24.97%
• 1Y: 83.14%
• 3Y*: 13.00%
• 5Y*: -9.25%
• 10Y*: 4.55%

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

MAGC vs. CHAU - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MAGC Roundhill China Magnificent Seven ETF	-15.36%	16.35%	-14.54%
CHAU Direxion Daily CSI 300 China A Share Bull 2x Shares	17.88%	47.73%	-32.25%

Correlation

The correlation between MAGC and CHAU is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.56
Correlation (All Time) Calculated using the full available price history since Oct 4, 2024	0.62

The correlation between MAGC and CHAU has been stable across timeframes, ranging from 0.56 to 0.62 - a consistent structural relationship.

Return for Risk

MAGC vs. CHAU — Risk / Return Rank

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

MAGC

MAGC Risk / Return Rank: 4
MAGC Sharpe Ratio Rank: 4
MAGC Sortino Ratio Rank: 4
MAGC Omega Ratio Rank: 4
MAGC Calmar Ratio Rank: 5
MAGC Martin Ratio Rank: 5

CHAU

CHAU Risk / Return Rank: 76
CHAU Sharpe Ratio Rank: 76
CHAU Sortino Ratio Rank: 67
CHAU Omega Ratio Rank: 65
CHAU Calmar Ratio Rank: 90
CHAU Martin Ratio Rank: 81

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.

MAGC vs. CHAU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill China Magnificent Seven ETF (MAGC) and Direxion Daily CSI 300 China A Share Bull 2x Shares (CHAU). 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.

	MAGC	CHAU	Difference
Sharpe ratio Return per unit of total volatility	-0.59	2.50	-3.09
Sortino ratio Return per unit of downside risk	-0.73	3.12	-3.85
Omega ratio Gain probability vs. loss probability	0.92	1.40	-0.48
Calmar ratio Return relative to maximum drawdown	-0.44	5.49	-5.93
Martin ratio Return relative to average drawdown	-0.85	16.51	-17.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MAGC vs. CHAU - Sharpe Ratio Comparison

The current MAGC Sharpe Ratio is -0.59, which is lower than the CHAU Sharpe Ratio of 2.50. The chart below compares the historical Sharpe Ratios of MAGC and CHAU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MAGC	CHAU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.59	2.50	-3.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.20	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.10	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.29	-0.07	-0.22

Drawdowns

MAGC vs. CHAU - Drawdown Comparison

The maximum MAGC drawdown since its inception was -32.86%, smaller than the maximum CHAU drawdown of -79.21%. Use the drawdown chart below to compare losses from any high point for MAGC and CHAU.

Drawdown Indicators

	MAGC	CHAU	Difference
Max Drawdown Largest peak-to-trough decline	-32.86%	-79.21%	+46.35%
Max Drawdown (1Y) Largest decline over 1 year	-32.86%	-15.27%	-17.59%
Max Drawdown (3Y) Largest decline over 3 years	—	-59.88%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-73.69%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-78.58%	—
Current Drawdown Current decline from peak	-28.88%	-52.43%	+23.55%
Average Drawdown Average peak-to-trough decline	-15.12%	-58.90%	+43.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.98%	5.08%	+11.90%

Volatility

MAGC vs. CHAU - Volatility Comparison

The current volatility for Roundhill China Magnificent Seven ETF (MAGC) is 10.63%, while Direxion Daily CSI 300 China A Share Bull 2x Shares (CHAU) has a volatility of 11.80%. This indicates that MAGC experiences smaller price fluctuations and is considered to be less risky than CHAU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MAGC	CHAU	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.63%	11.80%	-1.17%
Volatility (6M) Calculated over the trailing 6-month period	19.54%	22.83%	-3.29%
Volatility (1Y) Calculated over the trailing 1-year period	26.65%	33.37%	-6.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.36%	47.09%	-12.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.36%	47.15%	-12.79%

MAGC vs. CHAU - Expense Ratio Comparison

MAGC has a 0.59% expense ratio, which is lower than CHAU's 1.21% expense ratio.

Dividends

MAGC vs. CHAU - Dividend Comparison

MAGC's dividend yield for the trailing twelve months is around 4.85%, more than CHAU's 1.73% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
CHAU Direxion Daily CSI 300 China A Share Bull 2x Shares	1.73%	1.97%	2.25%	3.97%	0.77%	1.73%	0.09%	0.58%	0.83%
MAGC Roundhill China Magnificent Seven ETF	4.85%	4.10%	1.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MAGC and CHAU in my portfolio?

MAGC and CHAU have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MAGC or CHAU?

CHAU has higher volatility (11.80%) compared to MAGC (10.63%). In terms of maximum drawdown, MAGC dropped -32.86% vs CHAU's -79.21%.

Which ETF is better, MAGC or CHAU?

On 1-year performance, CHAU leads with 83.14% vs -15.61% for MAGC. On fees, MAGC is cheaper at 0.59% per year. On volatility, MAGC has been the lower-risk option at 10.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MAGC or CHAU?

Over the 1-year period, CHAU has performed better with a 83.14% return vs -15.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MAGC or CHAU?

MAGC is cheaper with a 0.59% expense ratio, compared with 1.21% for CHAU.

Which ETF pays a higher dividend yield, MAGC or CHAU?

MAGC has the higher dividend yield at 4.85%, compared with 1.73% for CHAU.

What is the main difference between MAGC and CHAU?

MAGC is categorized as China Equities, while CHAU is Leveraged Equities. They also come from different issuers: Roundhill and Direxion. Their fees differ too: 0.59% for MAGC and 1.21% for CHAU.

Which has better risk-adjusted returns?

CHAU currently has the higher Sharpe Ratio (2.50 vs -0.59), 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.