YINN vs. FXP
YINN (Direxion Daily China 3x Bull Shares) and FXP (ProShares UltraShort FTSE China 50) are both China Equities funds - YINN tracks the FTSE China 50 Index (300%) while FXP tracks the FTSE China 50 Net Tax USD (TR) (-200%). Both are passively managed. Over the past 10 years, YINN returned -20.79%/yr vs -21.55%/yr for FXP. At a correlation of -0.97, they often move in opposite directions. YINN charges 1.52%/yr vs 0.95%/yr for FXP.
Performance
YINN vs. FXP - Performance Comparison
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Returns By Period
In the year-to-date period, YINN achieves a -34.26% return, which is significantly lower than FXP's 17.49% return. Both investments have delivered pretty close results over the past 10 years, with YINN having a -20.79% annualized return and FXP not far behind at -21.55%.
YINN
- 1D
- 2.14%
- 1M
- -2.29%
- 6M
- -41.62%
- YTD
- -34.26%
- 1Y
- -34.70%
- 3Y*
- -7.53%
- 5Y*
- -37.80%
- 10Y*
- -20.79%
FXP
- 1D
- -0.83%
- 1M
- -0.77%
- 6M
- 29.15%
- YTD
- 17.49%
- 1Y
- 9.66%
- 3Y*
- -27.59%
- 5Y*
- -17.29%
- 10Y*
- -21.55%
YINN vs. FXP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
YINN Direxion Daily China 3x Bull Shares | -34.26% | 54.21% | 36.06% | -53.08% | -71.97% | -58.56% | -7.75% | 28.92% | -48.47% | 129.79% |
FXP ProShares UltraShort FTSE China 50 | 17.49% | -45.32% | -52.46% | 12.74% | -11.73% | 23.56% | -39.47% | -29.01% | 12.45% | -49.76% |
Correlation
The correlation between YINN and FXP is -0.98, 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 | -0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.99 |
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 3, 2009 | -0.97 |
The correlation between YINN and FXP has been stable across timeframes, ranging from -1.00 to -0.97 - a consistent structural relationship.
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Return for Risk
YINN vs. FXP — Risk / Return Rank
YINN
FXP
YINN vs. FXP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily China 3x Bull Shares (YINN) and ProShares UltraShort FTSE China 50 (FXP). 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 | FXP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.83 | ||
| Sortino ratioReturn per unit of downside risk | -1.21 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 1.07 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | -0.56 | 0.44 | -1.01 |
| Martin ratioReturn relative to average drawdown | -1.14 | 0.80 | -1.95 |
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Drawdowns
YINN vs. FXP - Drawdown Comparison
The maximum YINN drawdown since its inception was -98.87%, roughly equal to the maximum FXP drawdown of -99.94%. Use the drawdown chart below to compare losses from any high point for YINN and FXP.
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Drawdown Indicators
| YINN | FXP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.87% | -99.94% | +1.07% |
Max Drawdown (1Y)Largest decline over 1 year | -61.64% | -21.99% | -39.65% |
Max Drawdown (3Y)Largest decline over 3 years | -69.08% | -82.34% | +13.26% |
Max Drawdown (5Y)Largest decline over 5 years | -95.48% | -87.85% | -7.63% |
Max Drawdown (10Y)Largest decline over 10 years | -98.59% | -93.71% | -4.88% |
Current DrawdownCurrent decline from peak | -97.67% | -99.92% | +2.25% |
Average DrawdownAverage peak-to-trough decline | -68.67% | -94.17% | +25.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.40% | 12.04% | +18.36% |
Volatility
YINN vs. FXP - Volatility Comparison
Direxion Daily China 3x Bull Shares (YINN) has a higher volatility of 18.92% compared to ProShares UltraShort FTSE China 50 (FXP) at 13.71%. This indicates that YINN's price experiences larger fluctuations and is considered to be riskier than FXP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| YINN | FXP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.92% | 13.71% | +5.21% |
Volatility (6M)Calculated over the trailing 6-month period | 42.67% | 29.15% | +13.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 59.32% | 40.14% | +19.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 94.22% | 63.18% | +31.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 81.53% | 54.76% | +26.77% |
YINN vs. FXP - Expense Ratio Comparison
YINN has a 1.52% expense ratio, which is higher than FXP's 0.95% expense ratio.
Dividends
YINN vs. FXP - Dividend Comparison
YINN's dividend yield for the trailing twelve months is around 1.36%, less than FXP's 3.06% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
FXP ProShares UltraShort FTSE China 50 | 3.06% | 9.57% | 3.55% | 2.20% | 0.06% | 0.00% | 0.06% | 1.20% | 0.16% | 0.00% |
YINN Direxion Daily China 3x Bull Shares | 1.36% | 1.12% | 1.81% | 4.17% | 1.16% | 0.73% | 0.76% | 1.38% | 1.02% | 1.11% |
Frequently Asked Questions
YINN and FXP have a correlation of -0.98, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
YINN has higher volatility (18.92%) compared to FXP (13.71%). In terms of maximum drawdown, YINN dropped -98.87% vs FXP's -99.94%.
On 10-year performance, YINN leads with -20.79% vs -21.55% for FXP. On fees, FXP is cheaper at 0.95% per year. On volatility, FXP has been the lower-risk option at 13.71%. 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 -20.79% return vs -21.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FXP is cheaper with a 0.95% expense ratio, compared with 1.52% for YINN.
FXP has the higher dividend yield at 3.06%, compared with 1.36% for YINN.
YINN tracks FTSE China 50 Index (300%), while FXP tracks FTSE China 50 Net Tax USD (TR) (-200%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.52% for YINN and 0.95% for FXP.
FXP currently has the higher Sharpe Ratio (0.24 vs -0.59), 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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