NBCE vs. YXI
NBCE (Neuberger Berman China Equity ETF) and YXI (ProShares Short FTSE China 50) are both exchange-traded funds - NBCE is a China Equities fund actively managed by Neuberger Berman, while YXI is a Inverse Equities fund tracking the FTSE China 50 Net Tax USD (TR) (-100%). NBCE is actively managed, while YXI is passively managed. Over the past year, NBCE returned 61.44% vs 1.04% for YXI. At a correlation of -0.68, they often move in opposite directions. NBCE charges 0.74%/yr vs 0.95%/yr for YXI.
Performance
NBCE vs. YXI - Performance Comparison
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Returns By Period
In the year-to-date period, NBCE achieves a 26.83% return, which is significantly higher than YXI's 7.60% return.
NBCE
- 1D
- 0.75%
- 1M
- 8.86%
- YTD
- 26.83%
- 6M
- 30.65%
- 1Y
- 61.44%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
YXI
- 1D
- -0.56%
- 1M
- 2.15%
- YTD
- 7.60%
- 6M
- 9.50%
- 1Y
- 1.04%
- 3Y*
- -11.86%
- 5Y*
- -2.76%
- 10Y*
- -8.18%
NBCE vs. YXI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
NBCE Neuberger Berman China Equity ETF | 26.83% | 39.08% | 3.35% | -2.22% |
YXI ProShares Short FTSE China 50 | 7.60% | -22.87% | -25.36% | 8.21% |
Correlation
The correlation between NBCE and YXI is -0.57, 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 | -0.57 |
Correlation (All Time) Calculated using the full available price history since Oct 17, 2023 | -0.68 |
The correlation between NBCE and YXI shifts across timeframes, from -0.68 (all time) to -0.57 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
NBCE vs. YXI — Risk / Return Rank
NBCE
YXI
NBCE vs. YXI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman China Equity ETF (NBCE) 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.
| NBCE | YXI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.28 | ||
| Sortino ratioReturn per unit of downside risk | +4.04 | ||
| Omega ratioGain probability vs. loss probability | 1.57 | 1.03 | +0.55 |
| Calmar ratioReturn relative to maximum drawdown | 6.69 | 0.07 | +6.62 |
| Martin ratioReturn relative to average drawdown | 22.44 | 0.13 | +22.31 |
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
| NBCE | YXI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.33 | 0.05 | +3.28 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.09 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.30 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.03 | -0.30 | +1.33 |
Drawdowns
NBCE vs. YXI - Drawdown Comparison
The maximum NBCE drawdown since its inception was -28.42%, smaller than the maximum YXI drawdown of -81.15%. Use the drawdown chart below to compare losses from any high point for NBCE and YXI.
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Drawdown Indicators
| NBCE | YXI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.42% | -81.15% | +52.73% |
Max Drawdown (1Y)Largest decline over 1 year | -9.23% | -14.21% | +4.98% |
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 | — | -64.92% | — |
Current DrawdownCurrent decline from peak | 0.00% | -78.03% | +78.03% |
Average DrawdownAverage peak-to-trough decline | -9.12% | -54.31% | +45.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.75% | 7.79% | -5.04% |
Volatility
NBCE vs. YXI - Volatility Comparison
Neuberger Berman China Equity ETF (NBCE) and ProShares Short FTSE China 50 (YXI) have volatilities of 7.21% and 7.25%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NBCE | YXI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.21% | 7.25% | -0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 13.37% | 14.87% | -1.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.58% | 19.93% | -1.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.03% | 31.39% | -7.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.03% | 27.42% | -3.39% |
NBCE vs. YXI - Expense Ratio Comparison
NBCE has a 0.74% expense ratio, which is lower than YXI's 0.95% expense ratio.
Dividends
NBCE vs. YXI - Dividend Comparison
NBCE's dividend yield for the trailing twelve months is around 1.04%, less than YXI's 2.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
NBCE Neuberger Berman China Equity ETF | 1.04% | 1.32% | 1.20% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
YXI ProShares Short FTSE China 50 | 2.85% | 3.60% | 4.35% | 2.66% | 0.27% | 0.00% | 0.08% | 1.01% | 0.25% |
Frequently Asked Questions
NBCE and YXI have a correlation of -0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
YXI has higher volatility (7.25%) compared to NBCE (7.21%). In terms of maximum drawdown, NBCE dropped -28.42% vs YXI's -81.15%.
On 1-year performance, NBCE leads with 61.44% vs 1.04% for YXI. On fees, NBCE is cheaper at 0.74% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, NBCE has performed better with a 61.44% return vs 1.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NBCE is cheaper with a 0.74% expense ratio, compared with 0.95% for YXI.
YXI has the higher dividend yield at 2.85%, compared with 1.04% for NBCE.
NBCE is categorized as China Equities, while YXI is Inverse Equities. They also come from different issuers: Neuberger Berman and ProShares. Their fees differ too: 0.74% for NBCE and 0.95% for YXI.
NBCE currently has the higher Sharpe Ratio (3.33 vs 0.05), 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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