YANG vs. VWO
YANG (Direxion Daily China 3x Bear Shares) and VWO (Vanguard FTSE Emerging Markets ETF) are both exchange-traded funds - YANG is a China Equities fund tracking the FTSE China 50 Index (-300%), while VWO is a Emerging Markets Equities fund tracking the FTSE Emerging Index. Both are passively managed. Over the past 10 years, YANG returned -38.18%/yr vs 7.86%/yr for VWO. Their -0.84 correlation means they have often moved in opposite directions in the past. YANG charges 1.07%/yr vs 0.08%/yr for VWO.
Performance
YANG vs. VWO - Performance Comparison
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Returns By Period
In the year-to-date period, YANG achieves a 5.40% return, which is significantly lower than VWO's 9.41% return. Over the past 10 years, YANG has underperformed VWO with an annualized return of -38.18%, while VWO has yielded a comparatively higher 7.86% annualized return.
YANG
- 1D
- -0.08%
- 1M
- -34.03%
- 6M
- 19.25%
- YTD
- 5.40%
- 1Y
- -11.44%
- 3Y*
- -43.40%
- 5Y*
- -39.47%
- 10Y*
- -38.18%
- ALL TIME*
- -38.42%
VWO
- 1D
- 0.96%
- 1M
- -0.49%
- 6M
- 4.16%
- YTD
- 9.41%
- 1Y
- 21.69%
- 3Y*
- 14.84%
- 5Y*
- 6.08%
- 10Y*
- 7.86%
- ALL TIME*
- 6.81%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $386.61M | $469.40M | $499.89M | |
| $20.61M | $22.59M | $28.35M |
YANG vs. VWO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
YANG Direxion Daily China 3x Bear Shares | 5.40% | -62.77% | -71.41% | 11.95% | -41.34% | 25.90% | -58.66% | -40.72% | 13.14% | -64.93% |
VWO Vanguard FTSE Emerging Markets ETF | 9.41% | 25.60% | 10.59% | 9.25% | -17.98% | 1.26% | 15.17% | 20.75% | -14.76% | 31.49% |
Correlation
The correlation between YANG and VWO is -0.67, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.67 |
Correlation (3Y) Balances recent behavior with more history. | -0.76 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.81 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.84 |
Correlation (All Time) Calculated using the full available price history since Dec 3, 2009 | -0.84 |
The correlation between YANG and VWO shifts across timeframes, from -0.84 (10 years) to -0.67 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
YANG vs. VWO — Risk / Return Rank
YANG
VWO
YANG vs. VWO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily China 3x Bear Shares (YANG) and Vanguard FTSE Emerging Markets ETF (VWO). 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 | VWO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.32 | ||
| Sortino ratioReturn per unit of downside risk | -1.46 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.22 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | -0.20 | 1.89 | -2.09 |
| Martin ratioReturn relative to average drawdown | -0.37 | 6.16 | -6.53 |
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Drawdowns
YANG vs. VWO - Drawdown Comparison
The maximum YANG drawdown since its inception was -99.98%, which is greater than VWO's maximum drawdown of -67.68%. Use the drawdown chart below to compare losses from any high point for YANG and VWO.
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Drawdown Indicators
| YANG | VWO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.98% | -67.68% | -32.30% |
Max Drawdown (1Y)Largest decline over 1 year | -35.83% | -11.17% | -24.66% |
Max Drawdown (3Y)Largest decline over 3 years | -94.02% | -17.37% | -76.65% |
Max Drawdown (5Y)Largest decline over 5 years | -97.38% | -30.88% | -66.50% |
Max Drawdown (10Y)Largest decline over 10 years | -99.36% | -36.39% | -62.97% |
Current DrawdownCurrent decline from peak | -99.98% | -4.07% | -95.91% |
Average DrawdownAverage peak-to-trough decline | -90.59% | -15.73% | -74.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.03% | 3.43% | +15.60% |
Volatility
YANG vs. VWO - Volatility Comparison
Direxion Daily China 3x Bear Shares (YANG) has a higher volatility of 15.88% compared to Vanguard FTSE Emerging Markets ETF (VWO) at 5.58%. This indicates that YANG's price experiences larger fluctuations and is considered to be riskier than VWO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| YANG | VWO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.88% | 5.58% | +10.30% |
Volatility (6M)Calculated over the trailing 6-month period | 43.30% | 15.22% | +28.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 60.16% | 17.58% | +42.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 93.73% | 17.56% | +76.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 81.91% | 19.17% | +62.74% |
YANG vs. VWO - Expense Ratio Comparison
YANG has a 1.07% expense ratio, which is higher than VWO's 0.08% expense ratio.
Dividends
YANG vs. VWO - Dividend Comparison
YANG's dividend yield for the trailing twelve months is around 3.50%, more than VWO's 2.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VWO Vanguard FTSE Emerging Markets ETF | 2.35% | 2.79% | 3.20% | 3.52% | 4.11% | 2.63% | 1.91% | 3.23% | 2.88% | 2.30% | 2.52% | 3.26% |
YANG Direxion Daily China 3x Bear Shares | 3.50% | 4.03% | 9.42% | 3.66% | 0.00% | 0.00% | 0.67% | 1.54% | 0.56% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
YANG and VWO 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 (15.88%) compared to VWO (5.58%). In terms of maximum drawdown, YANG dropped -99.98% vs VWO's -67.68%.
On 10-year performance, VWO leads with 7.86% vs -38.18% for YANG. On fees, VWO is cheaper at 0.08% per year. On volatility, VWO has been the lower-risk option at 5.58%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VWO has performed better with a 7.86% return vs -38.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VWO is cheaper with a 0.08% expense ratio, compared with 1.07% for YANG.
YANG has the higher dividend yield at 3.50%, compared with 2.35% for VWO.
YANG is categorized as China Equities, while VWO is Emerging Markets Equities. YANG tracks FTSE China 50 Index (-300%), while VWO tracks FTSE Emerging Index. They also come from different issuers: Direxion and Vanguard. Their fees differ too: 1.07% for YANG and 0.08% for VWO.
VWO currently has the higher Sharpe Ratio (1.20 vs -0.12), 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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