YANG vs. JDST

Last updated Jun 4, 2026

YANG (Direxion Daily China 3x Bear Shares) and JDST (Direxion Daily Junior Gold Miners Index Bear 2X Shares) are both Leveraged Equities funds from Direxion - YANG tracks the FTSE China 50 Index (-300%) while JDST tracks the MVIS Global Junior Gold Miners Index (-300%). Both are passively managed. Over the past 10 years, YANG returned -38.75%/yr vs -64.52%/yr for JDST. At a 0.18 correlation, their price movements are largely independent. YANG charges 1.07%/yr vs 1.10%/yr for JDST.

Performance

YANG vs. JDST - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily China 3x Bear Shares (YANG) and Direxion Daily Junior Gold Miners Index Bear 2X Shares (JDST). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, YANG achieves a 18.42% return, which is significantly higher than JDST's -30.24% return. Over the past 10 years, YANG has outperformed JDST with an annualized return of -38.75%, while JDST has yielded a comparatively lower -64.52% annualized return.

YANG

• 1D: 6.57%
• 1M: 6.76%
• YTD: 18.42%
• 6M: 23.43%
• 1Y: -12.94%
• 3Y*: -47.01%
• 5Y*: -33.76%
• 10Y*: -38.75%

JDST

• 1D: 8.81%
• 1M: -3.29%
• YTD: -30.24%
• 6M: -43.02%
• 1Y: -80.42%
• 3Y*: -68.21%
• 5Y*: -51.81%
• 10Y*: -64.52%

*Multi-year figures are annualized to reflect compound growth (CAGR)

YANG vs. JDST - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
YANG Direxion Daily China 3x Bear Shares	18.42%	-62.77%	-71.41%	11.95%	-41.34%	25.90%	-58.66%	-40.72%	13.14%	-64.93%
JDST Direxion Daily Junior Gold Miners Index Bear 2X Shares	-30.24%	-91.10%	-40.98%	-28.29%	-26.25%	10.97%	-95.97%	-80.30%	-1.60%	-63.44%

Correlation

The correlation between YANG and JDST is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (5Y) Calculated over the trailing 5-year period	0.33
Correlation (10Y) Calculated over the trailing 10-year period	0.23
Correlation (All Time) Calculated using the full available price history since Oct 4, 2013	0.18

The correlation between YANG and JDST shifts across timeframes, from 0.18 (all time) to 0.34 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

YANG vs. JDST — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

YANG

YANG Risk / Return Rank: 7
YANG Sharpe Ratio Rank: 6
YANG Sortino Ratio Rank: 8
YANG Omega Ratio Rank: 8
YANG Calmar Ratio Rank: 6
YANG Martin Ratio Rank: 6

JDST

JDST Risk / Return Rank: 2
JDST Sharpe Ratio Rank: 3
JDST Sortino Ratio Rank: 1
JDST Omega Ratio Rank: 1
JDST Calmar Ratio Rank: 1
JDST Martin Ratio Rank: 3

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

YANG vs. JDST - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily China 3x Bear Shares (YANG) and Direxion Daily Junior Gold Miners Index Bear 2X Shares (JDST). 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	JDST	Difference
Sharpe ratio: Return per unit of total volatility	-0.22	-0.82	+0.60
Sortino ratio: Return per unit of downside risk	0.08	-1.69	+1.77
Omega ratio: Gain probability vs. loss probability	1.01	0.82	+0.19
Calmar ratio: Return relative to maximum drawdown	-0.33	-0.91	+0.57
Martin ratio: Return relative to average drawdown	-0.53	-1.23	+0.70
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

YANG vs. JDST - Sharpe Ratio Comparison

The current YANG Sharpe Ratio is -0.22, which is higher than the JDST Sharpe Ratio of -0.82. The chart below compares the historical Sharpe Ratios of YANG and JDST, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	YANG	JDST	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.22	-0.82	+0.60
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.36	-0.64	+0.28
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.47	-0.62	+0.14
Sharpe Ratio (All Time) Calculated using the full available price history	-0.49	-0.59	+0.10

Drawdowns

YANG vs. JDST - Drawdown Comparison

The maximum YANG drawdown since its inception was -99.98%, roughly equal to the maximum JDST drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for YANG and JDST.

Drawdown Indicators

	YANG	JDST	Difference
Max Drawdown Largest peak-to-trough decline	-99.98%	-100.00%	+0.02%
Max Drawdown (1Y) Largest decline over 1 year	-38.85%	-88.98%	+50.13%
Max Drawdown (3Y) Largest decline over 3 years	-94.02%	-98.58%	+4.56%
Max Drawdown (5Y) Largest decline over 5 years	-97.38%	-99.28%	+1.90%
Max Drawdown (10Y) Largest decline over 10 years	-99.53%	-100.00%	+0.47%
Current Drawdown Current decline from peak	-99.97%	-100.00%	+0.03%
Average Drawdown Average peak-to-trough decline	-90.52%	-95.32%	+4.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	26.12%	65.41%	-39.29%

Volatility

YANG vs. JDST - Volatility Comparison

The current volatility for Direxion Daily China 3x Bear Shares (YANG) is 21.22%, while Direxion Daily Junior Gold Miners Index Bear 2X Shares (JDST) has a volatility of 33.11%. This indicates that YANG experiences smaller price fluctuations and is considered to be less risky than JDST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	YANG	JDST	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.22%	33.11%	-11.89%
Volatility (6M) Calculated over the trailing 6-month period	42.63%	79.71%	-37.08%
Volatility (1Y) Calculated over the trailing 1-year period	58.83%	98.62%	-39.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	94.44%	80.86%	+13.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	82.12%	104.76%	-22.64%

YANG vs. JDST - Expense Ratio Comparison

YANG has a 1.07% expense ratio, which is lower than JDST's 1.10% expense ratio.

Dividends

YANG vs. JDST - Dividend Comparison

YANG's dividend yield for the trailing twelve months is around 3.45%, less than JDST's 11.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
JDST Direxion Daily Junior Gold Miners Index Bear 2X Shares	11.53%	15.08%	6.50%	4.81%	0.00%	0.00%	11.75%	3.16%	0.57%
YANG Direxion Daily China 3x Bear Shares	3.45%	4.03%	9.42%	3.66%	0.00%	0.00%	0.67%	1.54%	0.56%

Frequently Asked Questions

Can I hold both YANG and JDST in my portfolio?

YANG and JDST have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, YANG or JDST?

JDST has higher volatility (33.11%) compared to YANG (21.22%). In terms of maximum drawdown, YANG dropped -99.98% vs JDST's -100.00%.

Which ETF is better, YANG or JDST?

On 10-year performance, YANG leads with -38.75% vs -64.52% for JDST. On fees, YANG is cheaper at 1.07% per year. On volatility, YANG has been the lower-risk option at 21.22%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, YANG or JDST?

Over the 10-year period, YANG has performed better with a -38.75% return vs -64.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, YANG or JDST?

YANG is cheaper with a 1.07% expense ratio, compared with 1.10% for JDST.

Which ETF pays a higher dividend yield, YANG or JDST?

JDST has the higher dividend yield at 11.53%, compared with 3.45% for YANG.

What is the main difference between YANG and JDST?

YANG tracks FTSE China 50 Index (-300%), while JDST tracks MVIS Global Junior Gold Miners Index (-300%). Their fees differ too: 1.07% for YANG and 1.10% for JDST.

Which has better risk-adjusted returns?

YANG currently has the higher Sharpe Ratio (-0.22 vs -0.82), 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.