PALD vs. YXI

Last updated Jun 30, 2026

PALD (Direxion Daily PANW Bear 1X Shares) and YXI (ProShares Short FTSE China 50) are both exchange-traded funds - PALD 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%). PALD is actively managed, while YXI is passively managed. Over the past year, PALD returned -45.37% vs 15.67% for YXI. At a 0.12 correlation, their price movements are largely independent. PALD charges 1.02%/yr vs 0.95%/yr for YXI.

Performance

PALD vs. YXI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily PANW Bear 1X Shares (PALD) 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, PALD achieves a -49.10% return, which is significantly lower than YXI's 20.14% return.

PALD

• 1D: -9.16%
• 1M: -17.17%
• YTD: -49.10%
• 6M: -48.38%
• 1Y: -45.37%
• 3Y*: —
• 5Y*: —
• 10Y*: —

YXI

• 1D: -0.65%
• 1M: 9.49%
• YTD: 20.14%
• 6M: 20.73%
• 1Y: 15.67%
• 3Y*: -8.60%
• 5Y*: -0.65%
• 10Y*: -6.94%

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

PALD vs. YXI - Yearly Performance Comparison

	2026 (YTD)	2025
PALD Direxion Daily PANW Bear 1X Shares	-49.10%	-3.89%
YXI ProShares Short FTSE China 50	20.14%	-7.66%

Correlation

The correlation between PALD and YXI is 0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.10
Correlation (All Time) Calculated using the full available price history since Mar 26, 2025	0.12

Return for Risk

PALD vs. YXI — Risk / Return Rank

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

PALD

PALD Risk / Return Rank: 1
PALD Sharpe Ratio Rank: 1
PALD Sortino Ratio Rank: 1
PALD Omega Ratio Rank: 1
PALD Calmar Ratio Rank: 3
PALD Martin Ratio Rank: 0

YXI

YXI Risk / Return Rank: 23
YXI Sharpe Ratio Rank: 23
YXI Sortino Ratio Rank: 23
YXI Omega Ratio Rank: 22
YXI Calmar Ratio Rank: 27
YXI Martin Ratio Rank: 21

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.

PALD vs. YXI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily PANW Bear 1X Shares (PALD) 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.

	PALD	YXI	Difference
Sharpe ratio: Return per unit of total volatility	-1.13	0.78	-1.91
Sortino ratio: Return per unit of downside risk	-1.77	1.23	-3.00
Omega ratio: Gain probability vs. loss probability	0.80	1.15	-0.35
Calmar ratio: Return relative to maximum drawdown	-0.76	1.26	-2.02
Martin ratio: Return relative to average drawdown	-2.01	2.44	-4.45

PALD vs. YXI - Sharpe Ratio Comparison

The current PALD Sharpe Ratio is -1.13, which is lower than the YXI Sharpe Ratio of 0.78. The chart below compares the historical Sharpe Ratios of PALD 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

PALD vs. YXI - Drawdown Comparison

The maximum PALD drawdown since its inception was -60.23%, smaller than the maximum YXI drawdown of -81.15%. Use the drawdown chart below to compare losses from any high point for PALD and YXI.

Drawdown Indicators

	PALD	YXI	Difference
Max Drawdown Largest peak-to-trough decline	-60.23%	-81.15%	+20.92%
Max Drawdown (1Y) Largest decline over 1 year	-60.23%	-12.48%	-47.75%
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	—	-63.56%	—
Current Drawdown Current decline from peak	-60.23%	-75.47%	+15.24%
Average Drawdown Average peak-to-trough decline	-23.31%	-54.39%	+31.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	22.61%	6.43%	+16.18%

Volatility

PALD vs. YXI - Volatility Comparison

Direxion Daily PANW Bear 1X Shares (PALD) has a higher volatility of 18.31% compared to ProShares Short FTSE China 50 (YXI) at 7.02%. This indicates that PALD'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

	PALD	YXI	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.31%	7.02%	+11.29%
Volatility (6M) Calculated over the trailing 6-month period	33.90%	15.72%	+18.18%
Volatility (1Y) Calculated over the trailing 1-year period	40.26%	20.16%	+20.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.97%	31.49%	+9.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.97%	27.42%	+13.55%

PALD vs. YXI - Expense Ratio Comparison

PALD has a 1.02% expense ratio, which is higher than YXI's 0.95% expense ratio.

Dividends

PALD vs. YXI - Dividend Comparison

PALD's dividend yield for the trailing twelve months is around 5.11%, more than YXI's 2.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
PALD Direxion Daily PANW Bear 1X Shares	5.11%	3.31%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
YXI ProShares Short FTSE China 50	2.37%	3.60%	4.35%	2.66%	0.27%	0.00%	0.08%	1.01%	0.25%

Frequently Asked Questions

Can I hold both PALD and YXI in my portfolio?

PALD and YXI have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PALD or YXI?

PALD has higher volatility (18.31%) compared to YXI (7.02%). In terms of maximum drawdown, PALD dropped -60.23% vs YXI's -81.15%.

Which ETF is better, PALD or YXI?

On 1-year performance, YXI leads with 15.67% vs -45.37% for PALD. On fees, YXI is cheaper at 0.95% per year. On volatility, YXI has been the lower-risk option at 7.02%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PALD or YXI?

Over the 1-year period, YXI has performed better with a 15.67% return vs -45.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PALD or YXI?

YXI is cheaper with a 0.95% expense ratio, compared with 1.02% for PALD.

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

PALD has the higher dividend yield at 5.11%, compared with 2.37% for YXI.

What is the main difference between PALD and YXI?

PALD is categorized as Inverse Equities, while YXI is China Equities. They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.02% for PALD and 0.95% for YXI.

Which has better risk-adjusted returns?

YXI currently has the higher Sharpe Ratio (0.78 vs -1.13), 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.