YANG vs. EEMO
YANG (Direxion Daily China 3x Bear Shares) and EEMO (Invesco S&P Emerging Markets Momentum ETF) are both exchange-traded funds - YANG is a Leveraged Equities fund tracking the FTSE China 50 Index (-300%), while EEMO is a Momentum fund tracking the S&P Momentum Emerging Plus LargeMidCap Index. Both are passively managed. Over the past 10 years, YANG returned -37.83%/yr vs 8.71%/yr for EEMO. At a correlation of -0.56, they often move in opposite directions. YANG charges 1.07%/yr vs 0.31%/yr for EEMO.
Performance
YANG vs. EEMO - Performance Comparison
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Returns By Period
In the year-to-date period, YANG achieves a 45.69% return, which is significantly higher than EEMO's 35.52% return. Over the past 10 years, YANG has underperformed EEMO with an annualized return of -37.83%, while EEMO has yielded a comparatively higher 8.71% annualized return.
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%
EEMO
- 1D
- -8.31%
- 1M
- 6.72%
- YTD
- 35.52%
- 6M
- 35.05%
- 1Y
- 47.55%
- 3Y*
- 23.13%
- 5Y*
- 6.20%
- 10Y*
- 8.71%
YANG vs. EEMO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
EEMO Invesco S&P Emerging Markets Momentum ETF | 35.52% | 10.99% | 9.88% | 13.90% | -18.73% | -5.57% | 9.66% | 21.17% | -17.24% | 49.65% |
Correlation
The correlation between YANG and EEMO is -0.68, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.58 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.64 |
Correlation (All Time) Calculated using the full available price history since Feb 24, 2012 | -0.56 |
The correlation between YANG and EEMO shifts across timeframes, from -0.68 (1 year) to -0.55 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
YANG vs. EEMO — Risk / Return Rank
YANG
EEMO
YANG vs. EEMO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily China 3x Bear Shares (YANG) and Invesco S&P Emerging Markets Momentum ETF (EEMO). 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.
| YANG | EEMO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.32 | ||
| Sortino ratioReturn per unit of downside risk | -1.40 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.35 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | 0.43 | 3.24 | -2.81 |
| Martin ratioReturn relative to average drawdown | 0.72 | 11.80 | -11.08 |
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Drawdowns
YANG vs. EEMO - Drawdown Comparison
The maximum YANG drawdown since its inception was -99.98%, which is greater than EEMO's maximum drawdown of -48.47%. Use the drawdown chart below to compare losses from any high point for YANG and EEMO.
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Drawdown Indicators
| YANG | EEMO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.98% | -48.47% | -51.51% |
Max Drawdown (1Y)Largest decline over 1 year | -35.33% | -14.75% | -20.58% |
Max Drawdown (3Y)Largest decline over 3 years | -94.02% | -26.06% | -67.96% |
Max Drawdown (5Y)Largest decline over 5 years | -97.38% | -34.03% | -63.35% |
Max Drawdown (10Y)Largest decline over 10 years | -99.53% | -46.57% | -52.96% |
Current DrawdownCurrent decline from peak | -99.97% | -8.31% | -91.66% |
Average DrawdownAverage peak-to-trough decline | -90.53% | -20.11% | -70.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.47% | 4.04% | +17.43% |
Volatility
YANG vs. EEMO - Volatility Comparison
The current volatility for Direxion Daily China 3x Bear Shares (YANG) is 17.73%, while Invesco S&P Emerging Markets Momentum ETF (EEMO) has a volatility of 20.47%. This indicates that YANG experiences smaller price fluctuations and is considered to be less risky than EEMO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| YANG | EEMO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.73% | 20.47% | -2.74% |
Volatility (6M)Calculated over the trailing 6-month period | 43.44% | 28.78% | +14.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 59.03% | 30.30% | +28.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 94.55% | 20.93% | +73.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 81.91% | 22.33% | +59.58% |
YANG vs. EEMO - Expense Ratio Comparison
YANG has a 1.07% expense ratio, which is higher than EEMO's 0.31% expense ratio.
Dividends
YANG vs. EEMO - Dividend Comparison
YANG's dividend yield for the trailing twelve months is around 2.80%, more than EEMO's 1.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EEMO Invesco S&P Emerging Markets Momentum ETF | 1.67% | 2.31% | 2.57% | 3.65% | 3.82% | 1.51% | 1.53% | 2.13% | 13.10% | 5.13% | 1.55% | 2.92% |
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% | 0.00% | 0.00% |
Frequently Asked Questions
YANG and EEMO have a correlation of -0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EEMO has higher volatility (20.47%) compared to YANG (17.73%). In terms of maximum drawdown, YANG dropped -99.98% vs EEMO's -48.47%.
On 10-year performance, EEMO leads with 8.71% vs -37.83% for YANG. On fees, EEMO is cheaper at 0.31% 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, EEMO has performed better with a 8.71% return vs -37.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EEMO is cheaper with a 0.31% expense ratio, compared with 1.07% for YANG.
YANG has the higher dividend yield at 2.80%, compared with 1.67% for EEMO.
YANG is categorized as Leveraged Equities, while EEMO is Momentum. YANG tracks FTSE China 50 Index (-300%), while EEMO tracks S&P Momentum Emerging Plus LargeMidCap Index. They also come from different issuers: Direxion and Invesco. Their fees differ too: 1.07% for YANG and 0.31% for EEMO.
EEMO currently has the higher Sharpe Ratio (1.58 vs 0.26), 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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