YANG vs. ISVBF
YANG (Direxion Daily China 3x Bear Shares) and ISVBF (iShares MSCI China A UCITS ETF) are both China Equities funds - YANG tracks the FTSE China 50 Index (-300%) while ISVBF tracks the MSCI China A Inclusion Index. Both are passively managed. Over the past 5 years, YANG returned -33.99%/yr vs -5.86%/yr for ISVBF. At a correlation of -0.35, they often move in opposite directions. YANG charges 1.07%/yr vs 0.40%/yr for ISVBF.
Performance
YANG vs. ISVBF - 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 ISVBF's -11.22% 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%
ISVBF
- 1D
- -2.45%
- 1M
- -0.50%
- 6M
- -14.17%
- YTD
- -11.22%
- 1Y
- -4.49%
- 3Y*
- 7.64%
- 5Y*
- -5.86%
- 10Y*
- —
YANG vs. ISVBF - 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% | 38.93% |
ISVBF iShares MSCI China A UCITS ETF | -11.22% | 30.64% | 18.96% | -9.28% | -23.01% | -22.12% |
Correlation
The correlation between YANG and ISVBF is -0.67, 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 | -0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.51 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.35 |
Correlation (All Time) Calculated using the full available price history since May 5, 2021 | -0.35 |
Over the past year, the inverse relationship between YANG and ISVBF has strengthened: their correlation has moved from -0.35 to -0.67, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
YANG vs. ISVBF — Risk / Return Rank
YANG
ISVBF
YANG vs. ISVBF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily China 3x Bear Shares (YANG) and iShares MSCI China A UCITS ETF (ISVBF). 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 | ISVBF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.41 | ||
| Sortino ratioReturn per unit of downside risk | +0.78 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.00 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 0.50 | -0.19 | +0.69 |
| Martin ratioReturn relative to average drawdown | 0.88 | -0.42 | +1.31 |
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Drawdowns
YANG vs. ISVBF - Drawdown Comparison
The maximum YANG drawdown since its inception was -99.98%, which is greater than ISVBF's maximum drawdown of -53.78%. Use the drawdown chart below to compare losses from any high point for YANG and ISVBF.
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Drawdown Indicators
| YANG | ISVBF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.98% | -53.78% | -46.20% |
Max Drawdown (1Y)Largest decline over 1 year | -31.88% | -24.14% | -7.74% |
Max Drawdown (3Y)Largest decline over 3 years | -94.02% | -24.14% | -69.88% |
Max Drawdown (5Y)Largest decline over 5 years | -97.38% | -52.51% | -44.87% |
Max Drawdown (10Y)Largest decline over 10 years | -99.37% | — | — |
Current DrawdownCurrent decline from peak | -99.97% | -28.04% | -71.93% |
Average DrawdownAverage peak-to-trough decline | -90.57% | -32.63% | -57.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.17% | 10.62% | +7.55% |
Volatility
YANG vs. ISVBF - Volatility Comparison
Direxion Daily China 3x Bear Shares (YANG) has a higher volatility of 18.72% compared to iShares MSCI China A UCITS ETF (ISVBF) at 7.79%. This indicates that YANG's price experiences larger fluctuations and is considered to be riskier than ISVBF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| YANG | ISVBF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.72% | 7.79% | +10.93% |
Volatility (6M)Calculated over the trailing 6-month period | 42.40% | 27.11% | +15.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 59.41% | 31.54% | +27.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 94.41% | 30.47% | +63.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 81.86% | 30.12% | +51.74% |
YANG vs. ISVBF - Expense Ratio Comparison
YANG has a 1.07% expense ratio, which is higher than ISVBF's 0.40% expense ratio.
Dividends
YANG vs. ISVBF - Dividend Comparison
YANG's dividend yield for the trailing twelve months is around 2.84%, while ISVBF has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
ISVBF iShares MSCI China A UCITS ETF | 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 ISVBF have a correlation of -0.67, 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 ISVBF (7.79%). In terms of maximum drawdown, YANG dropped -99.98% vs ISVBF's -53.78%.
On 5-year performance, ISVBF leads with -5.86% vs -33.99% for YANG. On fees, ISVBF is cheaper at 0.40% per year. On volatility, ISVBF has been the lower-risk option at 7.79%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, ISVBF has performed better with a -5.86% return vs -33.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ISVBF is cheaper with a 0.40% expense ratio, compared with 1.07% for YANG.
YANG has the higher dividend yield at 2.84%, compared with 0.00% for ISVBF.
YANG tracks FTSE China 50 Index (-300%), while ISVBF tracks MSCI China A Inclusion Index. They also come from different issuers: Direxion and iShares. Their fees differ too: 1.07% for YANG and 0.40% for ISVBF.
YANG currently has the higher Sharpe Ratio (0.27 vs -0.14), 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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