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XPP vs. YINN
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XPP vs. YINN

Last updated Jul 15, 2026
Documentation

XPP (ProShares Ultra FTSE China 50) and YINN (Direxion Daily China 3x Bull Shares) are both China Equities funds - XPP tracks the FTSE/Xinhua China 25 Index (200%) while YINN tracks the FTSE China 50 Index (300%). Both are passively managed. Over the past 10 years, XPP returned -7.21%/yr vs -21.12%/yr for YINN. With a 0.97 correlation, they move nearly in lockstep. XPP charges 0.95%/yr vs 1.52%/yr for YINN.

Performance

XPP vs. YINN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra FTSE China 50 (XPP) and Direxion Daily China 3x Bull Shares (YINN). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, XPP achieves a -25.44% return, which is significantly higher than YINN's -38.43% return. Over the past 10 years, XPP has outperformed YINN with an annualized return of -7.21%, while YINN has yielded a comparatively lower -21.12% annualized return.

XPP

1D
2.08%
1M
-7.89%
6M
-32.12%
YTD
-25.44%
1Y
-21.44%
3Y*
1.84%
5Y*
-20.27%
10Y*
-7.21%

YINN

1D
2.81%
1M
-12.12%
6M
-46.38%
YTD
-38.43%
1Y
-36.09%
3Y*
-10.00%
5Y*
-38.82%
10Y*
-21.12%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XPP vs. YINN - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XPP
ProShares Ultra FTSE China 50		-25.44%45.84%38.18%-34.77%-50.06%-40.45%7.07%24.88%-31.36%80.21%
YINN
Direxion Daily China 3x Bull Shares		-38.43%54.21%36.06%-53.08%-71.97%-58.56%-7.75%28.92%-48.47%129.79%

Correlation

The correlation between XPP and YINN is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.99

Correlation (3Y)
Calculated over the trailing 3-year period

0.99

Correlation (5Y)
Calculated over the trailing 5-year period

1.00

Correlation (10Y)
Calculated over the trailing 10-year period

0.99

Correlation (All Time)
Calculated using the full available price history since Dec 3, 2009

0.97

The correlation between XPP and YINN has been stable across timeframes, ranging from 0.97 to 1.00 - a consistent structural relationship.

XPP vs. YINN - Sectors Allocation Comparison

Sectors
XPP
YINN

Financial Services

50.6%
34.8%

Basic Materials

-

3.9%

Communication Services

-

16.3%

Consumer Cyclical

-

26.4%

Consumer Defensive

-

0.9%

Energy

-

5.3%

Healthcare

-

2.3%

Industrials

-

3.2%

Real Estate

-

1.1%

Technology

-

5.4%

Utilities

-

0.4%

Financial Services

XPP
50.6%
YINN
34.8%

Basic Materials

XPP

-

YINN
3.9%

Communication Services

XPP

-

YINN
16.3%

Consumer Cyclical

XPP

-

YINN
26.4%

Consumer Defensive

XPP

-

YINN
0.9%

Energy

XPP

-

YINN
5.3%

Healthcare

XPP

-

YINN
2.3%

Industrials

XPP

-

YINN
3.2%

Real Estate

XPP

-

YINN
1.1%

Technology

XPP

-

YINN
5.4%

Utilities

XPP

-

YINN
0.4%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

ProShares Ultra FTSE China 50

Direxion Daily China 3x Bull Shares

Often compared with XPP:
XPP vs. KLIPXPP vs. EETXPP vs. QQQXPP vs. TSLLXPP vs. SSOXPP vs. VTIXPP vs. TQQQ
Often compared with YINN:
YINN vs. YANGYINN vs. KWEBYINN vs. CWEBYINN vs. CHAUYINN vs. EDCYINN vs. MCHIYINN vs. TQQQ

Return for Risk

XPP vs. YINN — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XPP
XPP Risk / Return Rank: 55
Overall Rank
XPP Sharpe Ratio Rank: 55
Sharpe Ratio Rank
XPP Sortino Ratio Rank: 55
Sortino Ratio Rank
XPP Omega Ratio Rank: 55
Omega Ratio Rank
XPP Calmar Ratio Rank: 55
Calmar Ratio Rank
XPP Martin Ratio Rank: 44
Martin Ratio Rank
YINN
YINN Risk / Return Rank: 44
Overall Rank
YINN Sharpe Ratio Rank: 44
Sharpe Ratio Rank
YINN Sortino Ratio Rank: 55
Sortino Ratio Rank
YINN Omega Ratio Rank: 55
Omega Ratio Rank
YINN Calmar Ratio Rank: 55
Calmar Ratio Rank
YINN Martin Ratio Rank: 33
Martin Ratio Rank
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.

XPP vs. YINN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra FTSE China 50 (XPP) and Direxion Daily China 3x Bull Shares (YINN). 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.

XPPYINNDifference
Sharpe ratioReturn per unit of total volatility
-0.54
-0.61

+0.07

Sortino ratioReturn per unit of downside risk
-0.57
-0.64

+0.06

Omega ratioGain probability vs. loss probability

0.93

0.93

+0.01

Calmar ratioReturn relative to maximum drawdown

-0.48

-0.59

+0.11

Martin ratioReturn relative to average drawdown

-1.06

-1.20

+0.14

XPP vs. YINN - Sharpe Ratio Comparison

The current XPP Sharpe Ratio is -0.54, which is comparable to the YINN Sharpe Ratio of -0.61. The chart below compares the historical Sharpe Ratios of XPP and YINN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

XPP vs. YINN - Drawdown Comparison

The maximum XPP drawdown since its inception was -89.90%, smaller than the maximum YINN drawdown of -98.87%. Use the drawdown chart below to compare losses from any high point for XPP and YINN.

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Drawdown Indicators

XPPYINNDifference

Max Drawdown

Largest peak-to-trough decline

-89.90%

-98.87%

+8.97%

Max Drawdown (1Y)

Largest decline over 1 year

-44.78%

-61.64%

+16.86%

Max Drawdown (3Y)

Largest decline over 3 years

-52.95%

-69.08%

+16.13%

Max Drawdown (5Y)

Largest decline over 5 years

-83.28%

-95.48%

+12.20%

Max Drawdown (10Y)

Largest decline over 10 years

-89.90%

-98.59%

+8.69%

Current Drawdown

Current decline from peak

-80.27%

-97.82%

+17.55%

Average Drawdown

Average peak-to-trough decline

-48.01%

-68.65%

+20.64%

Ulcer Index

Depth and duration of drawdowns from previous peaks

20.31%

30.06%

-9.75%

Volatility

XPP vs. YINN - Volatility Comparison

The current volatility for ProShares Ultra FTSE China 50 (XPP) is 12.87%, while Direxion Daily China 3x Bull Shares (YINN) has a volatility of 18.46%. This indicates that XPP experiences smaller price fluctuations and is considered to be less risky than YINN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XPPYINNDifference

Volatility (1M)

Calculated over the trailing 1-month period

12.87%

18.46%

-5.59%

Volatility (6M)

Calculated over the trailing 6-month period

29.54%

43.52%

-13.98%

Volatility (1Y)

Calculated over the trailing 1-year period

39.92%

59.49%

-19.57%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

62.76%

94.20%

-31.44%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

54.77%

81.55%

-26.78%

XPP vs. YINN - Expense Ratio Comparison

XPP has a 0.95% expense ratio, which is lower than YINN's 1.52% expense ratio.

Dividends

XPP vs. YINN - Dividend Comparison

XPP's dividend yield for the trailing twelve months is around 2.81%, more than YINN's 1.45% yield.

PositionTTM202520242023202220212020201920182017
XPP
ProShares Ultra FTSE China 50		2.81%2.32%2.96%2.87%0.00%0.00%0.00%3.81%1.47%0.00%
YINN
Direxion Daily China 3x Bull Shares		1.45%1.12%1.81%4.17%1.16%0.73%0.76%1.38%1.02%1.11%

Frequently Asked Questions

With a correlation of 0.99, XPP and YINN move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

YINN has higher volatility (18.46%) compared to XPP (12.87%). In terms of maximum drawdown, XPP dropped -89.90% vs YINN's -98.87%.

On 10-year performance, XPP leads with -7.21% vs -21.12% for YINN. On fees, XPP is cheaper at 0.95% per year. On volatility, XPP has been the lower-risk option at 12.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, XPP has performed better with a -7.21% return vs -21.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

XPP is cheaper with a 0.95% expense ratio, compared with 1.52% for YINN.

XPP has the higher dividend yield at 2.81%, compared with 1.45% for YINN.

XPP tracks FTSE/Xinhua China 25 Index (200%), while YINN tracks FTSE China 50 Index (300%). They also come from different issuers: ProShares and Direxion. Their fees differ too: 0.95% for XPP and 1.52% for YINN.

XPP currently has the higher Sharpe Ratio (-0.54 vs -0.61), 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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