YANG vs. EOCT
YANG (Direxion Daily China 3x Bear Shares) and EOCT (Innovator Emerging Markets Power Buffer ETF - October) are both exchange-traded funds - YANG is a China Equities fund tracking the FTSE China 50 Index (-300%), while EOCT is a Options Trading fund actively managed by Innovator. YANG is passively managed, while EOCT is actively managed. Over the past 3 years, YANG returned -44.24%/yr vs 12.05%/yr for EOCT. At a correlation of -0.78, they often move in opposite directions. YANG charges 1.07%/yr vs 0.89%/yr for EOCT.
Performance
YANG vs. EOCT - Performance Comparison
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Returns By Period
In the year-to-date period, YANG achieves a 29.74% return, which is significantly higher than EOCT's 6.72% return.
YANG
- 1D
- 3.41%
- 1M
- -4.71%
- 6M
- 42.31%
- YTD
- 29.74%
- 1Y
- 16.00%
- 3Y*
- -44.24%
- 5Y*
- -33.99%
- 10Y*
- -36.97%
EOCT
- 1D
- -0.37%
- 1M
- -0.80%
- 6M
- 4.32%
- YTD
- 6.72%
- 1Y
- 17.53%
- 3Y*
- 12.05%
- 5Y*
- —
- 10Y*
- —
YANG vs. EOCT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
YANG Direxion Daily China 3x Bear Shares | 29.74% | -62.77% | -71.41% | 11.95% | -41.34% | 5.03% |
EOCT Innovator Emerging Markets Power Buffer ETF - October | 6.72% | 22.03% | 9.66% | 6.26% | -10.75% | -0.22% |
Correlation
The correlation between YANG and EOCT is -0.64, 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 | -0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.73 |
Correlation (All Time) Calculated using the full available price history since Oct 1, 2021 | -0.78 |
The correlation between YANG and EOCT shifts across timeframes, from -0.78 (all time) to -0.64 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
YANG vs. EOCT — Risk / Return Rank
YANG
EOCT
YANG vs. EOCT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily China 3x Bear Shares (YANG) and Innovator Emerging Markets Power Buffer ETF - October (EOCT). 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 | EOCT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.65 | ||
| Sortino ratioReturn per unit of downside risk | -1.90 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.36 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | 0.50 | 2.97 | -2.47 |
| Martin ratioReturn relative to average drawdown | 0.88 | 11.70 | -10.81 |
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Drawdowns
YANG vs. EOCT - Drawdown Comparison
The maximum YANG drawdown since its inception was -99.98%, which is greater than EOCT's maximum drawdown of -20.35%. Use the drawdown chart below to compare losses from any high point for YANG and EOCT.
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Drawdown Indicators
| YANG | EOCT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.98% | -20.35% | -79.63% |
Max Drawdown (1Y)Largest decline over 1 year | -31.88% | -5.93% | -25.95% |
Max Drawdown (3Y)Largest decline over 3 years | -94.02% | -10.76% | -83.26% |
Max Drawdown (5Y)Largest decline over 5 years | -97.38% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -99.37% | — | — |
Current DrawdownCurrent decline from peak | -99.97% | -1.49% | -98.48% |
Average DrawdownAverage peak-to-trough decline | -90.57% | -5.57% | -85.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.17% | 1.50% | +16.67% |
Volatility
YANG vs. EOCT - Volatility Comparison
Direxion Daily China 3x Bear Shares (YANG) has a higher volatility of 18.72% compared to Innovator Emerging Markets Power Buffer ETF - October (EOCT) at 2.40%. This indicates that YANG's price experiences larger fluctuations and is considered to be riskier than EOCT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| YANG | EOCT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.72% | 2.40% | +16.32% |
Volatility (6M)Calculated over the trailing 6-month period | 42.40% | 7.15% | +35.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 59.41% | 9.17% | +50.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 94.41% | 11.26% | +83.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 81.86% | 11.26% | +70.60% |
YANG vs. EOCT - Expense Ratio Comparison
YANG has a 1.07% expense ratio, which is higher than EOCT's 0.89% expense ratio.
Dividends
YANG vs. EOCT - Dividend Comparison
YANG's dividend yield for the trailing twelve months is around 2.84%, while EOCT has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
EOCT Innovator Emerging Markets Power Buffer ETF - October | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
YANG Direxion Daily China 3x Bear Shares | 2.84% | 4.03% | 9.42% | 3.66% | 0.00% | 0.00% | 0.67% | 1.54% | 0.56% |
Frequently Asked Questions
YANG and EOCT have a correlation of -0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
YANG has higher volatility (18.72%) compared to EOCT (2.40%). In terms of maximum drawdown, YANG dropped -99.98% vs EOCT's -20.35%.
On 3-year performance, EOCT leads with 12.05% vs -44.24% for YANG. On fees, EOCT is cheaper at 0.89% per year. On volatility, EOCT has been the lower-risk option at 2.40%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, EOCT has performed better with a 12.05% return vs -44.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EOCT is cheaper with a 0.89% expense ratio, compared with 1.07% for YANG.
YANG has the higher dividend yield at 2.84%, compared with 0.00% for EOCT.
YANG is categorized as China Equities, while EOCT is Options Trading. They also come from different issuers: Direxion and Innovator. Their fees differ too: 1.07% for YANG and 0.89% for EOCT.
EOCT currently has the higher Sharpe Ratio (1.92 vs 0.27), 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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