YINN vs. DRGN

Last updated Jul 16, 2026

YINN (Direxion Daily China 3x Bull Shares) and DRGN (Themes China Generative Artificial Intelligence ETF) are both China Equities funds - YINN tracks the FTSE China 50 Index (300%) while DRGN tracks the BITA China Generative AI Select Index. Both are passively managed. Over the past year, YINN returned -36.89% vs 44.44% for DRGN. A 0.55 correlation means they provide meaningful diversification when combined. YINN charges 1.52%/yr vs 0.39%/yr for DRGN.

Performance

YINN vs. DRGN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily China 3x Bull Shares (YINN) and Themes China Generative Artificial Intelligence ETF (DRGN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, YINN achieves a -35.64% return, which is significantly lower than DRGN's 14.26% return.

YINN

• 1D: 4.55%
• 1M: -8.89%
• 6M: -42.95%
• YTD: -35.64%
• 1Y: -36.89%
• 3Y*: -8.66%
• 5Y*: -38.06%
• 10Y*: -20.77%

DRGN

• 1D: -0.54%
• 1M: 1.83%
• 6M: -0.75%
• YTD: 14.26%
• 1Y: 44.44%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

YINN vs. DRGN - Yearly Performance Comparison

	2026 (YTD)	2025
YINN Direxion Daily China 3x Bull Shares	-35.64%	3.80%
DRGN Themes China Generative Artificial Intelligence ETF	14.26%	26.96%

Correlation

The correlation between YINN and DRGN is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.55
Correlation (All Time) Calculated using the full available price history since Jul 15, 2025	0.55

The correlation between YINN and DRGN has been stable across timeframes, ranging from 0.55 to 0.55 - a consistent structural relationship.

Return for Risk

YINN vs. DRGN — Risk / Return Rank

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

YINN

YINN Risk / Return Rank: 4
YINN Sharpe Ratio Rank: 4
YINN Sortino Ratio Rank: 5
YINN Omega Ratio Rank: 5
YINN Calmar Ratio Rank: 4
YINN Martin Ratio Rank: 3

DRGN

DRGN Risk / Return Rank: 42
DRGN Sharpe Ratio Rank: 42
DRGN Sortino Ratio Rank: 43
DRGN Omega Ratio Rank: 39
DRGN Calmar Ratio Rank: 52
DRGN Martin Ratio Rank: 36

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.

YINN vs. DRGN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily China 3x Bull Shares (YINN) and Themes China Generative Artificial Intelligence ETF (DRGN). 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.

	YINN	DRGN	Difference
Sharpe ratio: Return per unit of total volatility	-0.62	1.25	-1.87
Sortino ratio: Return per unit of downside risk	-0.67	1.84	-2.51
Omega ratio: Gain probability vs. loss probability	0.92	1.22	-0.29
Calmar ratio: Return relative to maximum drawdown	-0.60	2.14	-2.74
Martin ratio: Return relative to average drawdown	-1.22	4.45	-5.67

YINN vs. DRGN - Sharpe Ratio Comparison

The current YINN Sharpe Ratio is -0.62, which is lower than the DRGN Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of YINN and DRGN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

YINN vs. DRGN - Drawdown Comparison

The maximum YINN drawdown since its inception was -98.87%, which is greater than DRGN's maximum drawdown of -20.86%. Use the drawdown chart below to compare losses from any high point for YINN and DRGN.

Drawdown Indicators

	YINN	DRGN	Difference
Max Drawdown Largest peak-to-trough decline	-98.87%	-20.86%	-78.01%
Max Drawdown (1Y) Largest decline over 1 year	-61.64%	-20.86%	-40.78%
Max Drawdown (3Y) Largest decline over 3 years	-69.08%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-95.48%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-98.59%	—	—
Current Drawdown Current decline from peak	-97.72%	-8.88%	-88.84%
Average Drawdown Average peak-to-trough decline	-68.66%	-8.16%	-60.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	30.24%	10.02%	+20.22%

Volatility

YINN vs. DRGN - Volatility Comparison

Direxion Daily China 3x Bull Shares (YINN) has a higher volatility of 18.79% compared to Themes China Generative Artificial Intelligence ETF (DRGN) at 13.08%. This indicates that YINN's price experiences larger fluctuations and is considered to be riskier than DRGN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	YINN	DRGN	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.79%	13.08%	+5.71%
Volatility (6M) Calculated over the trailing 6-month period	42.66%	25.46%	+17.20%
Volatility (1Y) Calculated over the trailing 1-year period	59.57%	35.74%	+23.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	94.21%	35.74%	+58.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	81.55%	35.74%	+45.81%

YINN vs. DRGN - Expense Ratio Comparison

YINN has a 1.52% expense ratio, which is higher than DRGN's 0.39% expense ratio.

Dividends

YINN vs. DRGN - Dividend Comparison

YINN's dividend yield for the trailing twelve months is around 1.39%, more than DRGN's 1.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DRGN Themes China Generative Artificial Intelligence ETF	1.06%	1.22%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
YINN Direxion Daily China 3x Bull Shares	1.39%	1.12%	1.81%	4.17%	1.16%	0.73%	0.76%	1.38%	1.02%	1.11%

Frequently Asked Questions

Can I hold both YINN and DRGN in my portfolio?

YINN and DRGN have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, YINN or DRGN?

YINN has higher volatility (18.79%) compared to DRGN (13.08%). In terms of maximum drawdown, YINN dropped -98.87% vs DRGN's -20.86%.

Which ETF is better, YINN or DRGN?

On 1-year performance, DRGN leads with 44.44% vs -36.89% for YINN. On fees, DRGN is cheaper at 0.39% per year. On volatility, DRGN has been the lower-risk option at 13.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, YINN or DRGN?

Over the 1-year period, DRGN has performed better with a 44.44% return vs -36.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, YINN or DRGN?

DRGN is cheaper with a 0.39% expense ratio, compared with 1.52% for YINN.

Which ETF pays a higher dividend yield, YINN or DRGN?

YINN has the higher dividend yield at 1.39%, compared with 1.06% for DRGN.

What is the main difference between YINN and DRGN?

YINN tracks FTSE China 50 Index (300%), while DRGN tracks BITA China Generative AI Select Index. They also come from different issuers: Direxion and Themes. Their fees differ too: 1.52% for YINN and 0.39% for DRGN.

Which has better risk-adjusted returns?

DRGN currently has the higher Sharpe Ratio (1.25 vs -0.62), 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.