YANG vs. SRTY

Last updated Apr 2, 2026

Compare and contrast key facts about Direxion Daily China 3x Bear Shares (YANG) and ProShares UltraPro Short Russell2000 (SRTY).

YANG and SRTY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. YANG is a passively managed fund by Direxion that tracks the performance of the FTSE China 50 Index (-300%). It was launched on Dec 3, 2009. SRTY is a passively managed fund by ProShares that tracks the performance of the Russell 2000 Index (-300%). It was launched on Feb 11, 2010. Both YANG and SRTY are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

YANG vs. SRTY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily China 3x Bear Shares (YANG) and ProShares UltraPro Short Russell2000 (SRTY). The values are adjusted to include any dividend payments, if applicable.

YANG vs. SRTY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
YANG Direxion Daily China 3x Bear Shares	20.02%	-62.77%	-71.41%	11.95%	-41.34%	25.90%	-58.66%	-40.72%	13.14%	-64.93%
SRTY ProShares UltraPro Short Russell2000	-7.57%	-40.55%	-32.91%	-42.02%	28.99%	-51.67%	-80.61%	-53.83%	23.37%	-38.31%

Returns By Period

In the year-to-date period, YANG achieves a 20.02% return, which is significantly higher than SRTY's -7.57% return. Over the past 10 years, YANG has outperformed SRTY with an annualized return of -39.11%, while SRTY has yielded a comparatively lower -42.03% annualized return.

YANG

• 1D: 2.68%
• 1M: 9.80%
• YTD: 20.02%
• 6M: 44.40%
• 1Y: -22.06%
• 3Y*: -43.56%
• 5Y*: -33.55%
• 10Y*: -39.11%

SRTY

• 1D: -1.96%
• 1M: 14.70%
• YTD: -7.57%
• 6M: -14.58%
• 1Y: -58.65%
• 3Y*: -37.91%
• 5Y*: -25.76%
• 10Y*: -42.03%

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

YANG vs. SRTY - Expense Ratio Comparison

YANG has a 1.07% expense ratio, which is higher than SRTY's 0.95% expense ratio.

YANG

Direxion Daily China 3x Bear Shares

SRTY

ProShares UltraPro Short Russell2000

Return for Risk

YANG vs. SRTY — Risk / Return Rank

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

YANG

YANG Risk / Return Rank: 8
YANG Sharpe Ratio Rank: 6
YANG Sortino Ratio Rank: 10
YANG Omega Ratio Rank: 9
YANG Calmar Ratio Rank: 7
YANG Martin Ratio Rank: 9

SRTY

SRTY Risk / Return Rank: 2
SRTY Sharpe Ratio Rank: 1
SRTY Sortino Ratio Rank: 1
SRTY Omega Ratio Rank: 1
SRTY Calmar Ratio Rank: 1
SRTY Martin Ratio Rank: 4

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. SRTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily China 3x Bear Shares (YANG) and ProShares UltraPro Short Russell2000 (SRTY). 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	SRTY	Difference
Sharpe ratio Return per unit of total volatility	-0.31	-0.85	+0.54
Sortino ratio Return per unit of downside risk	0.01	-1.24	+1.25
Omega ratio Gain probability vs. loss probability	1.00	0.85	+0.15
Calmar ratio Return relative to maximum drawdown	-0.32	-0.77	+0.45
Martin ratio Return relative to average drawdown	-0.38	-0.96	+0.58
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. SRTY - Sharpe Ratio Comparison

The current YANG Sharpe Ratio is -0.31, which is higher than the SRTY Sharpe Ratio of -0.85. The chart below compares the historical Sharpe Ratios of YANG and SRTY, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	YANG	SRTY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.31	-0.85	+0.54
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.36	-0.38	+0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.48	-0.62	+0.14
Sharpe Ratio (All Time) Calculated using the full available price history	-0.49	-0.67	+0.18

Correlation

The correlation between YANG and SRTY is 0.53, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

YANG vs. SRTY - Dividend Comparison

YANG's dividend yield for the trailing twelve months is around 3.40%, less than SRTY's 5.91% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
YANG Direxion Daily China 3x Bear Shares	3.40%	4.03%	9.42%	3.66%	0.00%	0.00%	0.67%	1.54%	0.56%	0.00%
SRTY ProShares UltraPro Short Russell2000	5.91%	6.87%	9.40%	4.93%	0.17%	0.00%	0.95%	2.13%	0.70%	0.04%

Drawdowns

YANG vs. SRTY - Drawdown Comparison

The maximum YANG drawdown since its inception was -99.98%, roughly equal to the maximum SRTY drawdown of -99.99%. Use the drawdown chart below to compare losses from any high point for YANG and SRTY.

Drawdown Indicators

	YANG	SRTY	Difference
Max Drawdown Largest peak-to-trough decline	-99.98%	-99.99%	+0.01%
Max Drawdown (1Y) Largest decline over 1 year	-68.02%	-76.28%	+8.26%
Max Drawdown (5Y) Largest decline over 5 years	-97.38%	-88.24%	-9.14%
Max Drawdown (10Y) Largest decline over 10 years	-99.60%	-99.67%	+0.07%
Current Drawdown Current decline from peak	-99.97%	-99.99%	+0.02%
Average Drawdown Average peak-to-trough decline	-90.42%	-93.71%	+3.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	57.00%	61.25%	-4.25%

Volatility

YANG vs. SRTY - Volatility Comparison

The current volatility for Direxion Daily China 3x Bear Shares (YANG) is 19.60%, while ProShares UltraPro Short Russell2000 (SRTY) has a volatility of 22.15%. This indicates that YANG experiences smaller price fluctuations and is considered to be less risky than SRTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	YANG	SRTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.60%	22.15%	-2.55%
Volatility (6M) Calculated over the trailing 6-month period	43.29%	43.40%	-0.11%
Volatility (1Y) Calculated over the trailing 1-year period	71.59%	69.30%	+2.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	94.39%	67.49%	+26.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	82.22%	68.21%	+14.01%