YANG vs. TERG

Last updated Apr 2, 2026

Compare and contrast key facts about Direxion Daily China 3x Bear Shares (YANG) and Leverage Shares 2X Long TER Daily ETF (TERG).

YANG and TERG 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. TERG is an actively managed fund by Leverage Shares. It was launched on Nov 17, 2025.

Performance

YANG vs. TERG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily China 3x Bear Shares (YANG) and Leverage Shares 2X Long TER Daily ETF (TERG). The values are adjusted to include any dividend payments, if applicable.

YANG vs. TERG - Yearly Performance Comparison

	2026 (YTD)	2025
YANG Direxion Daily China 3x Bear Shares	20.02%	8.27%
TERG Leverage Shares 2X Long TER Daily ETF	124.98%	28.17%

Returns By Period

In the year-to-date period, YANG achieves a 20.02% return, which is significantly lower than TERG's 124.98% 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%

TERG

• 1D: 10.94%
• 1M: -13.61%
• YTD: 124.98%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

YANG vs. TERG - Expense Ratio Comparison

YANG has a 1.07% expense ratio, which is higher than TERG's 0.75% expense ratio.

YANG

Direxion Daily China 3x Bear Shares

TERG

Leverage Shares 2X Long TER Daily ETF

Return for Risk

YANG vs. TERG — 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

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. TERG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily China 3x Bear Shares (YANG) and Leverage Shares 2X Long TER Daily ETF (TERG). 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	TERG	Difference
Sharpe ratio Return per unit of total volatility	-0.31	—	—
Sortino ratio Return per unit of downside risk	0.01	—	—
Omega ratio Gain probability vs. loss probability	1.00	—	—
Calmar ratio Return relative to maximum drawdown	-0.32	—	—
Martin ratio Return relative to average drawdown	-0.38	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	YANG	TERG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.31	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.36	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.48	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.49	13.84	-14.33

Correlation

The correlation between YANG and TERG is -0.43. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

YANG vs. TERG - Dividend Comparison

YANG's dividend yield for the trailing twelve months is around 3.40%, while TERG has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018
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%
TERG Leverage Shares 2X Long TER Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

YANG vs. TERG - Drawdown Comparison

The maximum YANG drawdown since its inception was -99.98%, which is greater than TERG's maximum drawdown of -39.32%. Use the drawdown chart below to compare losses from any high point for YANG and TERG.

Drawdown Indicators

	YANG	TERG	Difference
Max Drawdown Largest peak-to-trough decline	-99.98%	-39.32%	-60.66%
Max Drawdown (1Y) Largest decline over 1 year	-68.02%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-97.38%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-99.60%	—	—
Current Drawdown Current decline from peak	-99.97%	-22.98%	-76.99%
Average Drawdown Average peak-to-trough decline	-90.42%	-9.92%	-80.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	57.00%	—	—

Volatility

Volatility by Period

	YANG	TERG	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.60%	—	—
Volatility (6M) Calculated over the trailing 6-month period	43.29%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	71.59%	124.92%	-53.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	94.39%	124.92%	-30.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	82.22%	124.92%	-42.70%