SRTY vs. YANG
SRTY (ProShares UltraPro Short Russell2000) and YANG (Direxion Daily China 3x Bear Shares) are both Leveraged Equities funds - SRTY tracks the Russell 2000 Index (-300%) while YANG tracks the FTSE China 50 Index (-300%). Both are passively managed. Over the past 10 years, SRTY returned -44.65%/yr vs -37.83%/yr for YANG. A 0.53 correlation means they provide meaningful diversification when combined. SRTY charges 0.95%/yr vs 1.07%/yr for YANG.
Performance
SRTY vs. YANG - Performance Comparison
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Returns By Period
In the year-to-date period, SRTY achieves a -46.00% return, which is significantly lower than YANG's 45.69% return. Over the past 10 years, SRTY has underperformed YANG with an annualized return of -44.65%, while YANG has yielded a comparatively higher -37.83% annualized return.
SRTY
- 1D
- 2.94%
- 1M
- -11.85%
- YTD
- -46.00%
- 6M
- -41.91%
- 1Y
- -67.40%
- 3Y*
- -47.20%
- 5Y*
- -31.09%
- 10Y*
- -44.65%
YANG
- 1D
- 4.97%
- 1M
- 21.92%
- YTD
- 45.69%
- 6M
- 48.59%
- 1Y
- 15.02%
- 3Y*
- -43.76%
- 5Y*
- -31.21%
- 10Y*
- -37.83%
SRTY vs. YANG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SRTY ProShares UltraPro Short Russell2000 | -46.00% | -40.55% | -32.91% | -42.02% | 28.99% | -51.67% | -80.61% | -53.83% | 23.37% | -38.31% |
YANG Direxion Daily China 3x Bear Shares | 45.69% | -62.77% | -71.41% | 11.95% | -41.34% | 25.90% | -58.66% | -40.72% | 13.14% | -64.93% |
Correlation
The correlation between SRTY and YANG is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.38 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.41 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since Feb 11, 2010 | 0.53 |
The correlation between SRTY and YANG shifts across timeframes, from 0.38 (3 years) to 0.53 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SRTY vs. YANG — Risk / Return Rank
SRTY
YANG
SRTY vs. YANG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro Short Russell2000 (SRTY) and Direxion Daily China 3x Bear Shares (YANG). 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.
| SRTY | YANG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.41 | ||
| Sortino ratioReturn per unit of downside risk | -2.89 | ||
| Omega ratioGain probability vs. loss probability | 0.77 | 1.09 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | -0.99 | 0.43 | -1.42 |
| Martin ratioReturn relative to average drawdown | -1.56 | 0.72 | -2.28 |
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Drawdowns
SRTY vs. YANG - Drawdown Comparison
The maximum SRTY drawdown since its inception was -100.00%, roughly equal to the maximum YANG drawdown of -99.98%. Use the drawdown chart below to compare losses from any high point for SRTY and YANG.
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Drawdown Indicators
| SRTY | YANG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -99.98% | -0.02% |
Max Drawdown (1Y)Largest decline over 1 year | -68.17% | -35.33% | -32.84% |
Max Drawdown (3Y)Largest decline over 3 years | -89.46% | -94.02% | +4.56% |
Max Drawdown (5Y)Largest decline over 5 years | -91.87% | -97.38% | +5.51% |
Max Drawdown (10Y)Largest decline over 10 years | -99.76% | -99.53% | -0.23% |
Current DrawdownCurrent decline from peak | -100.00% | -99.97% | -0.03% |
Average DrawdownAverage peak-to-trough decline | -94.14% | -90.53% | -3.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 43.57% | 21.47% | +22.10% |
Volatility
SRTY vs. YANG - Volatility Comparison
ProShares UltraPro Short Russell2000 (SRTY) has a higher volatility of 19.61% compared to Direxion Daily China 3x Bear Shares (YANG) at 17.73%. This indicates that SRTY's price experiences larger fluctuations and is considered to be riskier than YANG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SRTY | YANG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.61% | 17.73% | +1.88% |
Volatility (6M)Calculated over the trailing 6-month period | 43.09% | 43.44% | -0.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 58.89% | 59.03% | -0.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 67.68% | 94.55% | -26.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 68.42% | 81.91% | -13.49% |
SRTY vs. YANG - Expense Ratio Comparison
SRTY has a 0.95% expense ratio, which is lower than YANG's 1.07% expense ratio.
Dividends
SRTY vs. YANG - Dividend Comparison
SRTY's dividend yield for the trailing twelve months is around 10.12%, more than YANG's 2.80% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
SRTY ProShares UltraPro Short Russell2000 | 10.12% | 6.87% | 9.40% | 4.93% | 0.17% | 0.00% | 0.95% | 2.13% | 0.70% | 0.04% |
YANG Direxion Daily China 3x Bear Shares | 2.80% | 4.03% | 9.42% | 3.66% | 0.00% | 0.00% | 0.67% | 1.54% | 0.56% | 0.00% |
Frequently Asked Questions
SRTY and YANG have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SRTY has higher volatility (19.61%) compared to YANG (17.73%). In terms of maximum drawdown, SRTY dropped -100.00% vs YANG's -99.98%.
On 10-year performance, YANG leads with -37.83% vs -44.65% for SRTY. On fees, SRTY is cheaper at 0.95% per year. On volatility, YANG has been the lower-risk option at 17.73%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, YANG has performed better with a -37.83% return vs -44.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SRTY is cheaper with a 0.95% expense ratio, compared with 1.07% for YANG.
SRTY has the higher dividend yield at 10.12%, compared with 2.80% for YANG.
SRTY tracks Russell 2000 Index (-300%), while YANG tracks FTSE China 50 Index (-300%). They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for SRTY and 1.07% for YANG.
YANG currently has the higher Sharpe Ratio (0.26 vs -1.15), 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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