YANG vs. YINN
YANG (Direxion Daily China 3x Bear Shares) and YINN (Direxion Daily China 3x Bull Shares) are both Leveraged Equities funds from Direxion - YANG tracks the FTSE China 50 Index (-300%) while YINN tracks the FTSE China 50 Index (300%). Both are passively managed. Over the past 10 years, YANG returned -39.14%/yr vs -18.19%/yr for YINN. At a correlation of -0.99, they often move in opposite directions. YANG charges 1.07%/yr vs 1.52%/yr for YINN.
Performance
YANG vs. YINN - Performance Comparison
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Returns By Period
In the year-to-date period, YANG achieves a 11.12% return, which is significantly higher than YINN's -22.68% return. Over the past 10 years, YANG has underperformed YINN with an annualized return of -39.14%, while YINN has yielded a comparatively higher -18.19% annualized return.
YANG
- 1D
- -8.70%
- 1M
- 2.29%
- YTD
- 11.12%
- 6M
- 18.25%
- 1Y
- -21.07%
- 3Y*
- -48.12%
- 5Y*
- -35.00%
- 10Y*
- -39.14%
YINN
- 1D
- 8.70%
- 1M
- -5.65%
- YTD
- -22.68%
- 6M
- -28.11%
- 1Y
- -6.97%
- 3Y*
- -0.61%
- 5Y*
- -37.38%
- 10Y*
- -18.19%
YANG vs. YINN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
YANG Direxion Daily China 3x Bear Shares | 11.12% | -62.77% | -71.41% | 11.95% | -41.34% | 25.90% | -58.66% | -40.72% | 13.14% | -64.93% |
YINN Direxion Daily China 3x Bull Shares | -22.68% | 54.21% | 36.06% | -53.08% | -71.97% | -58.56% | -7.75% | 28.92% | -48.47% | 129.79% |
Correlation
The correlation between YANG and YINN is -1.00, 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 | -1.00 |
Correlation (3Y) Calculated over the trailing 3-year period | -1.00 |
Correlation (5Y) Calculated over the trailing 5-year period | -1.00 |
Correlation (10Y) Calculated over the trailing 10-year period | -1.00 |
Correlation (All Time) Calculated using the full available price history since Dec 4, 2009 | -0.99 |
The correlation between YANG and YINN has been stable across timeframes, ranging from -1.00 to -0.99 - a consistent structural relationship.
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Return for Risk
YANG vs. YINN — Risk / Return Rank
YANG
YINN
YANG vs. YINN - 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 China 3x Bull Shares (YINN). 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 | YINN | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.36 | -0.12 | -0.24 |
Sortino ratioReturn per unit of downside risk | -0.16 | 0.24 | -0.40 |
Omega ratioGain probability vs. loss probability | 0.98 | 1.03 | -0.05 |
Calmar ratioReturn relative to maximum drawdown | -0.56 | -0.09 | -0.47 |
Martin ratioReturn relative to average drawdown | -0.83 | -0.18 | -0.65 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| YANG | YINN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.36 | -0.12 | -0.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.37 | -0.40 | +0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.48 | -0.22 | -0.25 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.49 | -0.22 | -0.28 |
Drawdowns
YANG vs. YINN - Drawdown Comparison
The maximum YANG drawdown since its inception was -99.98%, roughly equal to the maximum YINN drawdown of -98.87%. Use the drawdown chart below to compare losses from any high point for YANG and YINN.
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Drawdown Indicators
| YANG | YINN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.98% | -98.87% | -1.11% |
Max Drawdown (1Y)Largest decline over 1 year | -40.39% | -47.74% | +7.35% |
Max Drawdown (3Y)Largest decline over 3 years | -94.02% | -69.08% | -24.94% |
Max Drawdown (5Y)Largest decline over 5 years | -97.38% | -96.28% | -1.10% |
Max Drawdown (10Y)Largest decline over 10 years | -99.53% | -98.59% | -0.94% |
Current DrawdownCurrent decline from peak | -99.98% | -97.26% | -2.72% |
Average DrawdownAverage peak-to-trough decline | -90.52% | -68.46% | -22.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.39% | 24.05% | +4.34% |
Volatility
YANG vs. YINN - Volatility Comparison
Direxion Daily China 3x Bear Shares (YANG) and Direxion Daily China 3x Bull Shares (YINN) have volatilities of 20.36% and 20.17%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| YANG | YINN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 20.36% | 20.17% | +0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 42.19% | 42.11% | +0.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 58.54% | 58.50% | +0.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 94.43% | 94.19% | +0.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 82.11% | 81.78% | +0.33% |
YANG vs. YINN - Expense Ratio Comparison
YANG has a 1.07% expense ratio, which is lower than YINN's 1.52% expense ratio.
Dividends
YANG vs. YINN - Dividend Comparison
YANG's dividend yield for the trailing twelve months is around 3.67%, more than YINN's 1.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
YANG Direxion Daily China 3x Bear Shares | 3.67% | 4.03% | 9.42% | 3.66% | 0.00% | 0.00% | 0.67% | 1.54% | 0.56% | 0.00% |
YINN Direxion Daily China 3x Bull Shares | 1.29% | 1.12% | 1.81% | 4.17% | 1.16% | 0.73% | 0.76% | 1.38% | 1.02% | 1.11% |
Frequently Asked Questions
YANG and YINN have a correlation of -1.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
YANG has higher volatility (20.36%) compared to YINN (20.17%). In terms of maximum drawdown, YANG dropped -99.98% vs YINN's -98.87%.
On 10-year performance, YINN leads with -18.19% vs -39.14% for YANG. On fees, YANG is cheaper at 1.07% per year. On volatility, YINN has been the lower-risk option at 20.17%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, YINN has performed better with a -18.19% return vs -39.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
YANG is cheaper with a 1.07% expense ratio, compared with 1.52% for YINN.
YANG has the higher dividend yield at 3.67%, compared with 1.29% for YINN.
YANG tracks FTSE China 50 Index (-300%), while YINN tracks FTSE China 50 Index (300%). Their fees differ too: 1.07% for YANG and 1.52% for YINN.
YINN currently has the higher Sharpe Ratio (-0.12 vs -0.36), 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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