NIOG vs. CHAU

Last updated Jul 17, 2026

NIOG (Leverage Shares 2X Long NIO Daily ETF) and CHAU (Direxion Daily CSI 300 China A Share Bull 2x Shares) are both exchange-traded funds - NIOG is a Leveraged Equities fund tracking the NIO Inc. (NIO), while CHAU is a China Equities fund tracking the CSI 300 Index (200%). Both are passively managed. At a 0.28 correlation, their price movements are largely independent. NIOG charges 0.75%/yr vs 1.21%/yr for CHAU.

Performance

NIOG vs. CHAU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long NIO Daily ETF (NIOG) 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, NIOG achieves a -24.25% return, which is significantly lower than CHAU's 6.00% return.

NIOG

• 1D: -2.68%
• 1M: -3.92%
• 6M: -7.44%
• YTD: -24.25%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CHAU

• 1D: -4.87%
• 1M: -8.59%
• 6M: -0.29%
• YTD: 6.00%
• 1Y: 46.53%
• 3Y*: 9.11%
• 5Y*: -9.87%
• 10Y*: 3.23%

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

NIOG vs. CHAU - Yearly Performance Comparison

	2026 (YTD)	2025
NIOG Leverage Shares 2X Long NIO Daily ETF	-24.25%	3.25%
CHAU Direxion Daily CSI 300 China A Share Bull 2x Shares	6.00%	4.34%

Correlation

The correlation between NIOG and CHAU is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 18, 2025	0.28

Return for Risk

NIOG vs. CHAU — Risk / Return Rank

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

NIOG

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

CHAU

CHAU Risk / Return Rank: 51
CHAU Sharpe Ratio Rank: 42
CHAU Sortino Ratio Rank: 41
CHAU Omega Ratio Rank: 41
CHAU Calmar Ratio Rank: 75
CHAU Martin Ratio Rank: 57

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.

NIOG vs. CHAU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long NIO Daily ETF (NIOG) 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.

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.

	NIOG	CHAU	Difference
Sharpe ratio: Return per unit of total volatility	—	1.22	—
Sortino ratio: Return per unit of downside risk	—	1.78	—
Omega ratio: Gain probability vs. loss probability	—	1.22	—
Calmar ratio: Return relative to maximum drawdown	—	3.06	—
Martin ratio: Return relative to average drawdown	—	7.84	—

Drawdowns

NIOG vs. CHAU - Drawdown Comparison

The maximum NIOG drawdown since its inception was -56.27%, smaller than the maximum CHAU drawdown of -79.21%. Use the drawdown chart below to compare losses from any high point for NIOG and CHAU.

Drawdown Indicators

	NIOG	CHAU	Difference
Max Drawdown Largest peak-to-trough decline	-56.27%	-79.21%	+22.94%
Max Drawdown (1Y) Largest decline over 1 year	—	-15.27%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-59.88%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-71.97%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-78.58%	—
Current Drawdown Current decline from peak	-52.54%	-57.22%	+4.68%
Average Drawdown Average peak-to-trough decline	-25.73%	-58.83%	+33.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	5.95%	—

Volatility

Volatility by Period

	NIOG	CHAU	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	18.00%	—
Volatility (6M) Calculated over the trailing 6-month period	—	29.17%	—
Volatility (1Y) Calculated over the trailing 1-year period	112.29%	38.23%	+74.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	112.29%	47.60%	+64.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	112.29%	47.38%	+64.91%

NIOG vs. CHAU - Expense Ratio Comparison

NIOG has a 0.75% expense ratio, which is lower than CHAU's 1.21% expense ratio.

Dividends

NIOG vs. CHAU - Dividend Comparison

NIOG has not paid dividends to shareholders, while CHAU's dividend yield for the trailing twelve months is around 2.04%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
CHAU Direxion Daily CSI 300 China A Share Bull 2x Shares	2.04%	1.97%	2.25%	3.97%	0.77%	1.73%	0.09%	0.58%	0.83%
NIOG Leverage Shares 2X Long NIO Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NIOG and CHAU in my portfolio?

NIOG and CHAU have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NIOG or CHAU?

On fees, NIOG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NIOG or CHAU?

NIOG is cheaper with a 0.75% expense ratio, compared with 1.21% for CHAU.

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

CHAU has the higher dividend yield at 2.04%, compared with 0.00% for NIOG.

What is the main difference between NIOG and CHAU?

NIOG is categorized as Leveraged Equities, while CHAU is China Equities. NIOG tracks NIO Inc. (NIO), while CHAU tracks CSI 300 Index (200%). They also come from different issuers: Leverage Shares and Direxion. Their fees differ too: 0.75% for NIOG and 1.21% for CHAU.