SEF vs. YXI
SEF (ProShares Short Financials) and YXI (ProShares Short FTSE China 50) are both Inverse Equities funds from ProShares - SEF tracks the Dow Jones U.S. Financials Index (-100%) while YXI tracks the FTSE China 50 Net Tax USD (TR) (-100%). Both are passively managed. Over the past 10 years, SEF returned -11.50%/yr vs -8.25%/yr for YXI. At a 0.46 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.
Performance
SEF vs. YXI - Performance Comparison
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Returns By Period
In the year-to-date period, SEF achieves a 8.89% return, which is significantly higher than YXI's 8.21% return. Over the past 10 years, SEF has underperformed YXI with an annualized return of -11.50%, while YXI has yielded a comparatively higher -8.25% annualized return.
SEF
- 1D
- 1.10%
- 1M
- 1.81%
- YTD
- 8.89%
- 6M
- 6.43%
- 1Y
- 3.73%
- 3Y*
- -10.34%
- 5Y*
- -5.21%
- 10Y*
- -11.50%
YXI
- 1D
- 1.95%
- 1M
- 2.80%
- YTD
- 8.21%
- 6M
- 9.88%
- 1Y
- 0.05%
- 3Y*
- -11.68%
- 5Y*
- -2.65%
- 10Y*
- -8.25%
SEF vs. YXI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SEF ProShares Short Financials | 8.89% | -9.82% | -17.81% | -8.81% | 11.85% | -27.02% | -16.93% | -23.51% | 10.34% | -17.12% |
YXI ProShares Short FTSE China 50 | 8.21% | -22.87% | -25.36% | 12.40% | 4.78% | 13.94% | -17.95% | -14.35% | 9.63% | -28.43% |
Correlation
The correlation between SEF and YXI is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.33 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.40 |
Correlation (All Time) Calculated using the full available price history since Mar 19, 2010 | 0.46 |
The correlation between SEF and YXI shifts across timeframes, from 0.27 (1 year) to 0.46 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SEF vs. YXI — Risk / Return Rank
SEF
YXI
SEF vs. YXI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short Financials (SEF) 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.
| SEF | YXI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.26 | ||
| Sortino ratioReturn per unit of downside risk | +0.36 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.02 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.39 | 0.00 | +0.38 |
| Martin ratioReturn relative to average drawdown | 0.73 | 0.01 | +0.72 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SEF | YXI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.26 | 0.00 | +0.26 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.29 | -0.08 | -0.21 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.56 | -0.30 | -0.26 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.49 | -0.30 | -0.18 |
Drawdowns
SEF vs. YXI - Drawdown Comparison
The maximum SEF drawdown since its inception was -96.51%, which is greater than YXI's maximum drawdown of -81.15%. Use the drawdown chart below to compare losses from any high point for SEF and YXI.
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Drawdown Indicators
| SEF | YXI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.51% | -81.15% | -15.36% |
Max Drawdown (1Y)Largest decline over 1 year | -9.72% | -14.21% | +4.49% |
Max Drawdown (3Y)Largest decline over 3 years | -39.40% | -53.12% | +13.72% |
Max Drawdown (5Y)Largest decline over 5 years | -41.62% | -57.65% | +16.03% |
Max Drawdown (10Y)Largest decline over 10 years | -75.66% | -64.92% | -10.74% |
Current DrawdownCurrent decline from peak | -96.09% | -77.90% | -18.19% |
Average DrawdownAverage peak-to-trough decline | -82.72% | -54.31% | -28.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.14% | 8.18% | -3.04% |
Volatility
SEF vs. YXI - Volatility Comparison
The current volatility for ProShares Short Financials (SEF) is 3.01%, while ProShares Short FTSE China 50 (YXI) has a volatility of 7.21%. This indicates that SEF experiences smaller price fluctuations and is considered to be less risky than YXI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SEF | YXI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.01% | 7.21% | -4.20% |
Volatility (6M)Calculated over the trailing 6-month period | 10.85% | 14.86% | -4.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.34% | 19.97% | -5.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.96% | 31.40% | -13.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.52% | 27.42% | -6.90% |
SEF vs. YXI - Expense Ratio Comparison
Both SEF and YXI have an expense ratio of 0.95%.
Dividends
SEF vs. YXI - Dividend Comparison
SEF's dividend yield for the trailing twelve months is around 3.35%, more than YXI's 2.84% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
SEF ProShares Short Financials | 3.35% | 4.33% | 5.72% | 4.43% | 0.39% | 0.00% | 0.12% | 1.25% | 0.41% |
YXI ProShares Short FTSE China 50 | 2.84% | 3.60% | 4.35% | 2.66% | 0.27% | 0.00% | 0.08% | 1.01% | 0.25% |
Frequently Asked Questions
SEF and YXI have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
YXI has higher volatility (7.21%) compared to SEF (3.01%). In terms of maximum drawdown, SEF dropped -96.51% vs YXI's -81.15%.
On 10-year performance, YXI leads with -8.25% vs -11.50% for SEF. Both ETFs have the same 0.95% expense ratio. On volatility, SEF has been the lower-risk option at 3.01%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, YXI has performed better with a -8.25% return vs -11.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SEF and YXI have the same expense ratio: 0.95% per year.
SEF has the higher dividend yield at 3.35%, compared with 2.84% for YXI.
SEF tracks Dow Jones U.S. Financials Index (-100%), while YXI tracks FTSE China 50 Net Tax USD (TR) (-100%).
SEF currently has the higher Sharpe Ratio (0.26 vs 0.00), 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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