TECS vs. YXI
TECS (Direxion Daily Technology Bear 3X Shares) and YXI (ProShares Short FTSE China 50) are both exchange-traded funds - TECS is a Inverse Equities fund tracking the Technology Select Sector Index (-300%), while YXI is a China Equities fund tracking the FTSE China 50 Net Tax USD (TR) (-100%). Both are passively managed. Over the past 10 years, TECS returned -60.95%/yr vs -7.95%/yr for YXI. Their 0.48 correlation means their historical movements had little consistent relationship. TECS charges 1.01%/yr vs 0.95%/yr for YXI.
Performance
TECS vs. YXI - Performance Comparison
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Returns By Period
In the year-to-date period, TECS achieves a -55.78% return, which is significantly lower than YXI's 4.98% return. Over the past 10 years, TECS has underperformed YXI with an annualized return of -60.95%, while YXI has yielded a comparatively higher -7.95% annualized return.
TECS
- 1D
- 0.41%
- 1M
- 4.74%
- 6M
- -55.63%
- YTD
- -55.78%
- 1Y
- -69.62%
- 3Y*
- -59.51%
- 5Y*
- -54.69%
- 10Y*
- -60.95%
- ALL TIME*
- -57.85%
YXI
- 1D
- 0.15%
- 1M
- -12.91%
- 6M
- 8.66%
- YTD
- 4.98%
- 1Y
- 0.78%
- 3Y*
- -9.91%
- 5Y*
- -5.56%
- 10Y*
- -7.95%
- ALL TIME*
- -8.26%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $26.82M | $44.05M | $62.80M | |
| $27.49K | $29.99K | $33.82K |
TECS vs. YXI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TECS Direxion Daily Technology Bear 3X Shares | -55.78% | -62.44% | -49.76% | -74.45% | 45.05% | -67.92% | -87.79% | -73.77% | -19.14% | -60.81% |
YXI ProShares Short FTSE China 50 | 4.98% | -22.87% | -25.36% | 12.40% | 4.78% | 13.94% | -17.95% | -14.35% | 9.63% | -28.43% |
Correlation
The correlation between TECS and YXI is 0.36, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.36 |
Correlation (3Y) Balances recent behavior with more history. | 0.30 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.36 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.45 |
Correlation (All Time) Calculated using the full available price history since Mar 18, 2010 | 0.48 |
The correlation between TECS and YXI shifts across timeframes, from 0.30 (3 years) to 0.48 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
TECS vs. YXI — Risk / Return Rank
TECS
YXI
TECS vs. YXI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Technology Bear 3X Shares (TECS) 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.
| TECS | YXI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.02 | ||
| Sortino ratioReturn per unit of downside risk | -1.86 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.04 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | -0.89 | 0.21 | -1.10 |
| Martin ratioReturn relative to average drawdown | -1.58 | 0.46 | -2.04 |
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Drawdowns
TECS vs. YXI - Drawdown Comparison
The maximum TECS drawdown since its inception was -100.00%, which is greater than YXI's maximum drawdown of -81.15%. Use the drawdown chart below to compare losses from any high point for TECS and YXI.
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Drawdown Indicators
| TECS | YXI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -81.15% | -18.85% |
Max Drawdown (1Y)Largest decline over 1 year | -76.16% | -13.55% | -62.61% |
Max Drawdown (3Y)Largest decline over 3 years | -96.22% | -53.12% | -43.10% |
Max Drawdown (5Y)Largest decline over 5 years | -98.82% | -57.65% | -41.17% |
Max Drawdown (10Y)Largest decline over 10 years | -99.99% | -61.63% | -38.36% |
Current DrawdownCurrent decline from peak | -100.00% | -78.56% | -21.44% |
Average DrawdownAverage peak-to-trough decline | -96.78% | -54.51% | -42.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 42.80% | 6.08% | +36.72% |
Volatility
TECS vs. YXI - Volatility Comparison
Direxion Daily Technology Bear 3X Shares (TECS) has a higher volatility of 29.88% compared to ProShares Short FTSE China 50 (YXI) at 7.06%. This indicates that TECS'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.
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Volatility by Period
| TECS | YXI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 29.88% | 7.06% | +22.82% |
Volatility (6M)Calculated over the trailing 6-month period | 65.87% | 16.10% | +49.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 76.74% | 21.18% | +55.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 76.85% | 31.28% | +45.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 73.44% | 27.47% | +45.97% |
TECS vs. YXI - Expense Ratio Comparison
TECS has a 1.01% expense ratio, which is higher than YXI's 0.95% expense ratio.
Dividends
TECS vs. YXI - Dividend Comparison
TECS's dividend yield for the trailing twelve months is around 7.33%, more than YXI's 2.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
TECS Direxion Daily Technology Bear 3X Shares | 7.33% | 5.83% | 5.24% | 7.52% | 0.00% | 0.00% | 1.50% | 2.40% | 0.72% |
YXI ProShares Short FTSE China 50 | 2.71% | 3.60% | 4.35% | 2.66% | 0.27% | 0.00% | 0.08% | 1.01% | 0.25% |
Frequently Asked Questions
TECS and YXI have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TECS has higher volatility (29.88%) compared to YXI (7.06%). In terms of maximum drawdown, TECS dropped -100.00% vs YXI's -81.15%.
On 10-year performance, YXI leads with -7.95% vs -60.95% for TECS. On fees, YXI is cheaper at 0.95% per year. On volatility, YXI has been the lower-risk option at 7.06%. 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 -7.95% return vs -60.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
YXI is cheaper with a 0.95% expense ratio, compared with 1.01% for TECS.
TECS has the higher dividend yield at 7.33%, compared with 2.71% for YXI.
TECS is categorized as Inverse Equities, while YXI is China Equities. TECS tracks Technology Select Sector Index (-300%), while YXI tracks FTSE China 50 Net Tax USD (TR) (-100%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.01% for TECS and 0.95% for YXI.
YXI currently has the higher Sharpe Ratio (0.13 vs -0.88), 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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