YANG vs. CWEB
Compare and contrast key facts about Direxion Daily China 3x Bear Shares (YANG) and Direxion Daily CSI China Internet Index Bull 2x Shares (CWEB).
YANG and CWEB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. YANG is a passively managed fund by Direxion that tracks the performance of the FTSE China 50 Index (-300%). It was launched on Dec 3, 2009. CWEB is a passively managed fund by Direxion that tracks the performance of the CSI China Overseas Internet Index (200%). It was launched on Nov 2, 2016. Both YANG and CWEB are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: YANG or CWEB.
Key characteristics
| YANG | CWEB | |
|---|---|---|
| YTD Return | -71.67% | 15.82% |
| 1Y Return | -69.05% | 18.89% |
| 3Y Return (Ann) | -40.65% | -41.21% |
| 5Y Return (Ann) | -39.04% | -31.89% |
| Sharpe Ratio | -0.68 | 0.19 |
| Sortino Ratio | -0.84 | 0.86 |
| Omega Ratio | 0.89 | 1.10 |
| Calmar Ratio | -0.68 | 0.14 |
| Martin Ratio | -1.40 | 0.58 |
| Ulcer Index | 48.44% | 24.56% |
| Daily Std Dev | 99.36% | 76.12% |
| Max Drawdown | -99.96% | -98.09% |
| Current Drawdown | -99.94% | -96.35% |
Correlation
The correlation between YANG and CWEB is -0.85. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Performance
YANG vs. CWEB - Performance Comparison
In the year-to-date period, YANG achieves a -71.67% return, which is significantly lower than CWEB's 15.82% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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YANG vs. CWEB - Expense Ratio Comparison
YANG has a 1.07% expense ratio, which is lower than CWEB's 1.30% expense ratio.
Risk-Adjusted Performance
YANG vs. CWEB - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily China 3x Bear Shares (YANG) and Direxion Daily CSI China Internet Index Bull 2x Shares (CWEB). 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.
Dividends
YANG vs. CWEB - Dividend Comparison
YANG's dividend yield for the trailing twelve months is around 6.30%, more than CWEB's 2.23% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|
YANG Direxion Daily China 3x Bear Shares | 6.30% | 2.62% | 0.00% | 0.00% | 0.68% | 1.13% | 0.33% | 0.00% |
CWEB Direxion Daily CSI China Internet Index Bull 2x Shares | 2.23% | 2.63% | 0.00% | 0.00% | 0.00% | 0.64% | 1.59% | 2.98% |
Drawdowns
YANG vs. CWEB - Drawdown Comparison
The maximum YANG drawdown since its inception was -99.96%, roughly equal to the maximum CWEB drawdown of -98.09%. Use the drawdown chart below to compare losses from any high point for YANG and CWEB. For additional features, visit the drawdowns tool.
Volatility
YANG vs. CWEB - Volatility Comparison
Direxion Daily China 3x Bear Shares (YANG) has a higher volatility of 36.37% compared to Direxion Daily CSI China Internet Index Bull 2x Shares (CWEB) at 27.94%. This indicates that YANG's price experiences larger fluctuations and is considered to be riskier than CWEB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.