YANG vs. EMCR
YANG (Direxion Daily China 3x Bear Shares) and EMCR (Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF) are both exchange-traded funds - YANG is a Leveraged Equities fund tracking the FTSE China 50 Index (-300%), while EMCR is a Emerging Markets Equities fund tracking the Solactive ISS Emerging Markets Carbon Reduction & Climate Improvers Index - Benchmark TR Net. Both are passively managed. Over the past 5 years, YANG returned -32.88%/yr vs 7.46%/yr for EMCR. At a correlation of -0.79, they often move in opposite directions. YANG charges 1.07%/yr vs 0.15%/yr for EMCR.
Performance
YANG vs. EMCR - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, YANG achieves a 26.48% return, which is significantly higher than EMCR's 14.66% return.
YANG
- 1D
- 6.13%
- 1M
- 23.26%
- YTD
- 26.48%
- 6M
- 38.96%
- 1Y
- 0.16%
- 3Y*
- -44.64%
- 5Y*
- -32.88%
- 10Y*
- -37.87%
EMCR
- 1D
- -6.11%
- 1M
- -3.85%
- YTD
- 14.66%
- 6M
- 16.19%
- 1Y
- 37.41%
- 3Y*
- 20.41%
- 5Y*
- 7.46%
- 10Y*
- —
YANG vs. EMCR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
YANG Direxion Daily China 3x Bear Shares | 26.48% | -62.77% | -71.41% | 11.95% | -41.34% | 25.90% | -58.66% | -40.72% | 14.63% |
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF | 14.66% | 33.25% | 9.69% | 10.55% | -18.73% | 5.54% | 13.49% | 22.41% | -1.76% |
Correlation
The correlation between YANG and EMCR is -0.73, 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 | -0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.77 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.81 |
Correlation (All Time) Calculated using the full available price history since Dec 7, 2018 | -0.79 |
The correlation between YANG and EMCR has been stable across timeframes, ranging from -0.81 to -0.73 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
YANG vs. EMCR — Risk / Return Rank
YANG
EMCR
YANG vs. EMCR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily China 3x Bear Shares (YANG) and Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (EMCR). 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.
| YANG | EMCR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.83 | ||
| Sortino ratioReturn per unit of downside risk | -1.97 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.35 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | 0.00 | 2.72 | -2.71 |
| Martin ratioReturn relative to average drawdown | 0.01 | 10.27 | -10.27 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| YANG | EMCR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.00 | 1.83 | -1.83 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.35 | 0.38 | -0.73 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.46 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.49 | 0.55 | -1.03 |
Drawdowns
YANG vs. EMCR - Drawdown Comparison
The maximum YANG drawdown since its inception was -99.98%, which is greater than EMCR's maximum drawdown of -34.28%. Use the drawdown chart below to compare losses from any high point for YANG and EMCR.
Loading charts...
Drawdown Indicators
| YANG | EMCR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.98% | -34.28% | -65.70% |
Max Drawdown (1Y)Largest decline over 1 year | -38.85% | -13.84% | -25.01% |
Max Drawdown (3Y)Largest decline over 3 years | -94.02% | -18.38% | -75.64% |
Max Drawdown (5Y)Largest decline over 5 years | -97.38% | -34.28% | -63.10% |
Max Drawdown (10Y)Largest decline over 10 years | -99.53% | — | — |
Current DrawdownCurrent decline from peak | -99.97% | -8.19% | -91.78% |
Average DrawdownAverage peak-to-trough decline | -90.52% | -9.33% | -81.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.38% | 3.65% | +20.73% |
Volatility
YANG vs. EMCR - Volatility Comparison
Direxion Daily China 3x Bear Shares (YANG) has a higher volatility of 19.86% compared to Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (EMCR) at 9.85%. This indicates that YANG's price experiences larger fluctuations and is considered to be riskier than EMCR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| YANG | EMCR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.86% | 9.85% | +10.01% |
Volatility (6M)Calculated over the trailing 6-month period | 42.96% | 18.13% | +24.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 58.84% | 20.57% | +38.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 94.44% | 19.48% | +74.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 82.12% | 19.98% | +62.14% |
YANG vs. EMCR - Expense Ratio Comparison
YANG has a 1.07% expense ratio, which is higher than EMCR's 0.15% expense ratio.
Dividends
YANG vs. EMCR - Dividend Comparison
YANG's dividend yield for the trailing twelve months is around 3.23%, more than EMCR's 2.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF | 2.12% | 2.43% | 6.62% | 1.95% | 3.05% | 1.83% | 1.75% | 3.15% | 0.19% |
YANG Direxion Daily China 3x Bear Shares | 3.23% | 4.03% | 9.42% | 3.66% | 0.00% | 0.00% | 0.67% | 1.54% | 0.56% |
Frequently Asked Questions
YANG and EMCR have a correlation of -0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
YANG has higher volatility (19.86%) compared to EMCR (9.85%). In terms of maximum drawdown, YANG dropped -99.98% vs EMCR's -34.28%.
On 5-year performance, EMCR leads with 7.46% vs -32.88% for YANG. On fees, EMCR is cheaper at 0.15% per year. On volatility, EMCR has been the lower-risk option at 9.85%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, EMCR has performed better with a 7.46% return vs -32.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EMCR is cheaper with a 0.15% expense ratio, compared with 1.07% for YANG.
YANG has the higher dividend yield at 3.23%, compared with 2.12% for EMCR.
YANG is categorized as Leveraged Equities, while EMCR is Emerging Markets Equities. YANG tracks FTSE China 50 Index (-300%), while EMCR tracks Solactive ISS Emerging Markets Carbon Reduction & Climate Improvers Index - Benchmark TR Net. They also come from different issuers: Direxion and Deutsche Bank. Their fees differ too: 1.07% for YANG and 0.15% for EMCR.
EMCR currently has the higher Sharpe Ratio (1.83 vs 0.00), 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.
Find the right allocation for YANG and EMCR
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer