RLBGX vs. FXP

Last updated Jun 3, 2026

RLBGX (American Funds American Balanced Fund Class R-6) and FXP (ProShares UltraShort FTSE China 50) are both funds - RLBGX is a Diversified Portfolio fund managed by American Funds, while FXP is a Leveraged Equities fund tracking the FTSE China 50 Net Tax USD (TR) (-200%). Over the past 10 years, RLBGX returned 10.45%/yr vs -23.39%/yr for FXP. At a correlation of -0.57, they often move in opposite directions. RLBGX charges 0.25%/yr vs 0.95%/yr for FXP.

Performance

RLBGX vs. FXP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Funds American Balanced Fund Class R-6 (RLBGX) and ProShares UltraShort FTSE China 50 (FXP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RLBGX achieves a 9.84% return, which is significantly higher than FXP's 8.59% return. Over the past 10 years, RLBGX has outperformed FXP with an annualized return of 10.45%, while FXP has yielded a comparatively lower -23.39% annualized return.

RLBGX

• 1D: 0.20%
• 1M: 3.58%
• YTD: 9.84%
• 6M: 10.80%
• 1Y: 25.59%
• 3Y*: 17.79%
• 5Y*: 9.96%
• 10Y*: 10.45%

FXP

• 1D: -5.83%
• 1M: 2.41%
• YTD: 8.59%
• 6M: 13.43%
• 1Y: -12.53%
• 3Y*: -31.27%
• 5Y*: -17.61%
• 10Y*: -23.39%

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

RLBGX vs. FXP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RLBGX American Funds American Balanced Fund Class R-6	9.84%	18.83%	15.35%	13.92%	-11.85%	16.10%	11.20%	18.95%	-3.07%	14.97%
FXP ProShares UltraShort FTSE China 50	8.59%	-45.32%	-52.46%	12.74%	-11.73%	23.56%	-39.47%	-29.01%	12.45%	-49.76%

Correlation

The correlation between RLBGX and FXP is -0.49, 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	-0.49
Correlation (3Y) Calculated over the trailing 3-year period	-0.40
Correlation (5Y) Calculated over the trailing 5-year period	-0.41
Correlation (10Y) Calculated over the trailing 10-year period	-0.51
Correlation (All Time) Calculated using the full available price history since Jan 5, 2010	-0.57

The correlation between RLBGX and FXP shifts across timeframes, from -0.57 (all time) to -0.40 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

RLBGX vs. FXP — Risk / Return Rank

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

RLBGX

RLBGX Risk / Return Rank: 86
RLBGX Sharpe Ratio Rank: 91
RLBGX Sortino Ratio Rank: 88
RLBGX Omega Ratio Rank: 85
RLBGX Calmar Ratio Rank: 81
RLBGX Martin Ratio Rank: 88

FXP

FXP Risk / Return Rank: 5
FXP Sharpe Ratio Rank: 6
FXP Sortino Ratio Rank: 6
FXP Omega Ratio Rank: 6
FXP Calmar Ratio Rank: 4
FXP Martin Ratio Rank: 5

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.

RLBGX vs. FXP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Funds American Balanced Fund Class R-6 (RLBGX) and ProShares UltraShort FTSE China 50 (FXP). 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.

	RLBGX	FXP	Difference
Sharpe ratio Return per unit of total volatility	3.01	-0.32	+3.33
Sortino ratio Return per unit of downside risk	4.20	-0.21	+4.41
Omega ratio Gain probability vs. loss probability	1.57	0.98	+0.60
Calmar ratio Return relative to maximum drawdown	3.75	-0.48	+4.23
Martin ratio Return relative to average drawdown	16.97	-0.75	+17.72
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RLBGX vs. FXP - Sharpe Ratio Comparison

The current RLBGX Sharpe Ratio is 3.01, which is higher than the FXP Sharpe Ratio of -0.32. The chart below compares the historical Sharpe Ratios of RLBGX and FXP, 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

	RLBGX	FXP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.01	-0.32	+3.33
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.95	-0.28	+1.23
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.98	-0.43	+1.41
Sharpe Ratio (All Time) Calculated using the full available price history	0.98	-0.44	+1.43

Drawdowns

RLBGX vs. FXP - Drawdown Comparison

The maximum RLBGX drawdown since its inception was -22.33%, smaller than the maximum FXP drawdown of -99.94%. Use the drawdown chart below to compare losses from any high point for RLBGX and FXP.

Drawdown Indicators

	RLBGX	FXP	Difference
Max Drawdown Largest peak-to-trough decline	-22.33%	-99.94%	+77.61%
Max Drawdown (1Y) Largest decline over 1 year	-6.98%	-28.62%	+21.64%
Max Drawdown (3Y) Largest decline over 3 years	-10.65%	-82.34%	+71.69%
Max Drawdown (5Y) Largest decline over 5 years	-18.59%	-87.85%	+69.26%
Max Drawdown (10Y) Largest decline over 10 years	-22.33%	-94.71%	+72.38%
Current Drawdown Current decline from peak	0.00%	-99.92%	+99.92%
Average Drawdown Average peak-to-trough decline	-2.46%	-94.15%	+91.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.54%	19.27%	-17.73%

Volatility

RLBGX vs. FXP - Volatility Comparison

The current volatility for American Funds American Balanced Fund Class R-6 (RLBGX) is 2.64%, while ProShares UltraShort FTSE China 50 (FXP) has a volatility of 14.45%. This indicates that RLBGX experiences smaller price fluctuations and is considered to be less risky than FXP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RLBGX	FXP	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.64%	14.45%	-11.81%
Volatility (6M) Calculated over the trailing 6-month period	6.85%	28.53%	-21.68%
Volatility (1Y) Calculated over the trailing 1-year period	8.71%	39.08%	-30.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.49%	63.11%	-52.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.67%	54.90%	-44.23%

RLBGX vs. FXP - Expense Ratio Comparison

RLBGX has a 0.25% expense ratio, which is lower than FXP's 0.95% expense ratio.

Dividends

RLBGX vs. FXP - Dividend Comparison

RLBGX's dividend yield for the trailing twelve months is around 7.83%, more than FXP's 4.31% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FXP ProShares UltraShort FTSE China 50	4.31%	9.57%	3.55%	2.20%	0.06%	0.00%	0.06%	1.20%	0.16%	0.00%	0.00%	0.00%
RLBGX American Funds American Balanced Fund Class R-6	7.83%	8.56%	7.50%	2.27%	2.63%	4.59%	4.65%	3.78%	5.81%	4.92%	4.54%	5.91%

Frequently Asked Questions

Can I hold both RLBGX and FXP in my portfolio?

RLBGX and FXP have a correlation of -0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RLBGX or FXP?

FXP has higher volatility (14.45%) compared to RLBGX (2.64%). In terms of maximum drawdown, RLBGX dropped -22.33% vs FXP's -99.94%.

Which has better risk-adjusted returns?

RLBGX currently has the higher Sharpe Ratio (3.01 vs -0.32), 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.