MUD vs. YXI

Last updated Jul 15, 2026

MUD (Direxion Daily MU Bear 1X Shares) and YXI (ProShares Short FTSE China 50) are both exchange-traded funds - MUD is a Inverse Equities fund actively managed by Direxion, while YXI is a China Equities fund tracking the FTSE China 50 Net Tax USD (TR) (-100%). MUD is actively managed, while YXI is passively managed. Over the past year, MUD returned -92.87% vs 9.10% for YXI. At a 0.28 correlation, their price movements are largely independent. MUD charges 0.97%/yr vs 0.95%/yr for YXI.

Performance

MUD vs. YXI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily MU Bear 1X Shares (MUD) and ProShares Short FTSE China 50 (YXI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MUD achieves a -80.49% return, which is significantly lower than YXI's 13.33% return.

MUD

• 1D: -4.98%
• 1M: -8.95%
• 6M: -76.32%
• YTD: -80.49%
• 1Y: -92.87%
• 3Y*: —
• 5Y*: —
• 10Y*: —

YXI

• 1D: -1.25%
• 1M: 3.50%
• 6M: 19.57%
• YTD: 13.33%
• 1Y: 9.10%
• 3Y*: -9.15%
• 5Y*: -2.40%
• 10Y*: -7.20%

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

MUD vs. YXI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MUD Direxion Daily MU Bear 1X Shares	-80.49%	-78.75%	19.12%
YXI ProShares Short FTSE China 50	13.33%	-22.87%	4.67%

Correlation

The correlation between MUD and YXI is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (All Time) Calculated using the full available price history since Oct 10, 2024	0.28

Return for Risk

MUD vs. YXI — Risk / Return Rank

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

MUD

MUD Risk / Return Rank: 1
MUD Sharpe Ratio Rank: 0
MUD Sortino Ratio Rank: 0
MUD Omega Ratio Rank: 0
MUD Calmar Ratio Rank: 0
MUD Martin Ratio Rank: 2

YXI

YXI Risk / Return Rank: 18
YXI Sharpe Ratio Rank: 17
YXI Sortino Ratio Rank: 17
YXI Omega Ratio Rank: 17
YXI Calmar Ratio Rank: 22
YXI Martin Ratio Rank: 19

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.

MUD vs. YXI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily MU Bear 1X Shares (MUD) and ProShares Short FTSE China 50 (YXI). 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.

	MUD	YXI	Difference
Sharpe ratio: Return per unit of total volatility	-1.23	0.44	-1.67
Sortino ratio: Return per unit of downside risk	-3.70	0.76	-4.46
Omega ratio: Gain probability vs. loss probability	0.60	1.09	-0.50
Calmar ratio: Return relative to maximum drawdown	-0.98	0.80	-1.78
Martin ratio: Return relative to average drawdown	-1.36	1.61	-2.98

MUD vs. YXI - Sharpe Ratio Comparison

The current MUD Sharpe Ratio is -1.23, which is lower than the YXI Sharpe Ratio of 0.44. The chart below compares the historical Sharpe Ratios of MUD and YXI, 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

MUD vs. YXI - Drawdown Comparison

The maximum MUD drawdown since its inception was -97.03%, which is greater than YXI's maximum drawdown of -81.15%. Use the drawdown chart below to compare losses from any high point for MUD and YXI.

Drawdown Indicators

	MUD	YXI	Difference
Max Drawdown Largest peak-to-trough decline	-97.03%	-81.15%	-15.88%
Max Drawdown (1Y) Largest decline over 1 year	-94.76%	-11.39%	-83.37%
Max Drawdown (3Y) Largest decline over 3 years	—	-53.12%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-57.65%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-61.79%	—
Current Drawdown Current decline from peak	-96.41%	-76.86%	-19.55%
Average Drawdown Average peak-to-trough decline	-53.04%	-54.44%	+1.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	67.99%	5.68%	+62.31%

Volatility

MUD vs. YXI - Volatility Comparison

Direxion Daily MU Bear 1X Shares (MUD) has a higher volatility of 32.91% compared to ProShares Short FTSE China 50 (YXI) at 7.42%. This indicates that MUD's price experiences larger fluctuations and is considered to be riskier than YXI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MUD	YXI	Difference
Volatility (1M) Calculated over the trailing 1-month period	32.91%	7.42%	+25.49%
Volatility (6M) Calculated over the trailing 6-month period	64.59%	15.80%	+48.79%
Volatility (1Y) Calculated over the trailing 1-year period	76.00%	20.65%	+55.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	71.22%	31.47%	+39.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	71.22%	27.44%	+43.78%

MUD vs. YXI - Expense Ratio Comparison

MUD has a 0.97% expense ratio, which is higher than YXI's 0.95% expense ratio.

Dividends

MUD vs. YXI - Dividend Comparison

MUD's dividend yield for the trailing twelve months is around 12.55%, more than YXI's 2.51% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
MUD Direxion Daily MU Bear 1X Shares	12.55%	9.21%	0.47%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
YXI ProShares Short FTSE China 50	2.51%	3.60%	4.35%	2.66%	0.27%	0.00%	0.08%	1.01%	0.25%

Frequently Asked Questions

Can I hold both MUD and YXI in my portfolio?

MUD and YXI have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MUD or YXI?

MUD has higher volatility (32.91%) compared to YXI (7.42%). In terms of maximum drawdown, MUD dropped -97.03% vs YXI's -81.15%.

Which ETF is better, MUD or YXI?

On 1-year performance, YXI leads with 9.10% vs -92.87% for MUD. On fees, YXI is cheaper at 0.95% per year. On volatility, YXI has been the lower-risk option at 7.42%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MUD or YXI?

Over the 1-year period, YXI has performed better with a 9.10% return vs -92.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MUD or YXI?

YXI is cheaper with a 0.95% expense ratio, compared with 0.97% for MUD.

Which ETF pays a higher dividend yield, MUD or YXI?

MUD has the higher dividend yield at 12.55%, compared with 2.51% for YXI.

What is the main difference between MUD and YXI?

MUD is categorized as Inverse Equities, while YXI is China Equities. They also come from different issuers: Direxion and ProShares. Their fees differ too: 0.97% for MUD and 0.95% for YXI.

Which has better risk-adjusted returns?

YXI currently has the higher Sharpe Ratio (0.44 vs -1.23), 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.