YANG vs. KSTR
YANG (Direxion Daily China 3x Bear Shares) and KSTR (KraneShares SSE STAR Market 50 Index ETF) are both China Equities funds - YANG tracks the FTSE China 50 Index (-300%) while KSTR tracks the SSE Science and Technology Innovation Board 50 Index. Both are passively managed. Over the past 5 years, YANG returned -33.99%/yr vs -1.33%/yr for KSTR. At a correlation of -0.47, they often move in opposite directions. YANG charges 1.07%/yr vs 0.89%/yr for KSTR.
Performance
YANG vs. KSTR - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, YANG achieves a 29.74% return, which is significantly lower than KSTR's 33.05% 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%
KSTR
- 1D
- -5.13%
- 1M
- -5.60%
- 6M
- 17.18%
- YTD
- 33.05%
- 1Y
- 79.94%
- 3Y*
- 19.87%
- 5Y*
- -1.33%
- 10Y*
- —
YANG vs. KSTR - 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% | 86.99% |
KSTR KraneShares SSE STAR Market 50 Index ETF | 33.05% | 42.82% | 6.12% | -17.93% | -38.51% | -2.01% |
Correlation
The correlation between YANG and KSTR is -0.43, 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 | -0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.50 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.46 |
Correlation (All Time) Calculated using the full available price history since Jan 27, 2021 | -0.47 |
The correlation between YANG and KSTR has been stable across timeframes, ranging from -0.50 to -0.43 - 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. KSTR — Risk / Return Rank
YANG
KSTR
YANG vs. KSTR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily China 3x Bear Shares (YANG) and KraneShares SSE STAR Market 50 Index ETF (KSTR). 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 | KSTR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.64 | ||
| Sortino ratioReturn per unit of downside risk | -1.68 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.33 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 0.50 | 3.43 | -2.92 |
| Martin ratioReturn relative to average drawdown | 0.88 | 10.42 | -9.54 |
Loading charts...
Drawdowns
YANG vs. KSTR - Drawdown Comparison
The maximum YANG drawdown since its inception was -99.98%, which is greater than KSTR's maximum drawdown of -66.46%. Use the drawdown chart below to compare losses from any high point for YANG and KSTR.
Loading charts...
Drawdown Indicators
| YANG | KSTR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.98% | -66.46% | -33.52% |
Max Drawdown (1Y)Largest decline over 1 year | -31.88% | -23.46% | -8.42% |
Max Drawdown (3Y)Largest decline over 3 years | -94.02% | -41.55% | -52.47% |
Max Drawdown (5Y)Largest decline over 5 years | -97.38% | -66.31% | -31.07% |
Max Drawdown (10Y)Largest decline over 10 years | -99.37% | — | — |
Current DrawdownCurrent decline from peak | -99.97% | -23.46% | -76.51% |
Average DrawdownAverage peak-to-trough decline | -90.57% | -38.09% | -52.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.17% | 7.69% | +10.48% |
Volatility
YANG vs. KSTR - Volatility Comparison
The current volatility for Direxion Daily China 3x Bear Shares (YANG) is 18.72%, while KraneShares SSE STAR Market 50 Index ETF (KSTR) has a volatility of 21.72%. This indicates that YANG experiences smaller price fluctuations and is considered to be less risky than KSTR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| YANG | KSTR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.72% | 21.72% | -3.00% |
Volatility (6M)Calculated over the trailing 6-month period | 42.40% | 34.20% | +8.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 59.41% | 41.99% | +17.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 94.41% | 39.48% | +54.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 81.86% | 38.57% | +43.29% |
YANG vs. KSTR - Expense Ratio Comparison
YANG has a 1.07% expense ratio, which is higher than KSTR's 0.89% expense ratio.
Dividends
YANG vs. KSTR - Dividend Comparison
YANG's dividend yield for the trailing twelve months is around 2.84%, while KSTR has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
KSTR KraneShares SSE STAR Market 50 Index 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 KSTR have a correlation of -0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KSTR has higher volatility (21.72%) compared to YANG (18.72%). In terms of maximum drawdown, YANG dropped -99.98% vs KSTR's -66.46%.
On 5-year performance, KSTR leads with -1.33% vs -33.99% for YANG. On fees, KSTR is cheaper at 0.89% per year. On volatility, YANG has been the lower-risk option at 18.72%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, KSTR has performed better with a -1.33% return vs -33.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KSTR 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 KSTR.
YANG tracks FTSE China 50 Index (-300%), while KSTR tracks SSE Science and Technology Innovation Board 50 Index. They also come from different issuers: Direxion and KraneShares. Their fees differ too: 1.07% for YANG and 0.89% for KSTR.
KSTR currently has the higher Sharpe Ratio (1.91 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.
Find the right allocation for YANG and KSTR
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