YINN vs. MMKT

Last updated Jun 24, 2026

YINN (Direxion Daily China 3x Bull Shares) and MMKT (Texas Capital Government Money Market ETF) are both exchange-traded funds - YINN is a Leveraged Equities fund tracking the FTSE China 50 Index (300%), while MMKT is a Money Market fund actively managed by Texas Capital. YINN is passively managed, while MMKT is actively managed. Over the past year, YINN returned -37.35% vs 3.78% for MMKT. At a correlation of -0.06, they often move in opposite directions. YINN charges 1.52%/yr vs 0.20%/yr for MMKT.

Performance

YINN vs. MMKT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily China 3x Bull Shares (YINN) and Texas Capital Government Money Market ETF (MMKT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, YINN achieves a -42.95% return, which is significantly lower than MMKT's 1.64% return.

YINN

• 1D: -6.15%
• 1M: -21.32%
• YTD: -42.95%
• 6M: -44.25%
• 1Y: -37.35%
• 3Y*: -8.25%
• 5Y*: -41.05%
• 10Y*: -19.74%

MMKT

• 1D: 0.02%
• 1M: 0.27%
• YTD: 1.64%
• 6M: 1.74%
• 1Y: 3.78%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

YINN vs. MMKT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
YINN Direxion Daily China 3x Bull Shares	-42.95%	54.21%	-14.01%
MMKT Texas Capital Government Money Market ETF	1.64%	4.13%	1.22%

Correlation

The correlation between YINN and MMKT is -0.13, 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	-0.13
Correlation (All Time) Calculated using the full available price history since Sep 25, 2024	-0.06

Return for Risk

YINN vs. MMKT — Risk / Return Rank

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

YINN

YINN Risk / Return Rank: 3
YINN Sharpe Ratio Rank: 4
YINN Sortino Ratio Rank: 4
YINN Omega Ratio Rank: 4
YINN Calmar Ratio Rank: 3
YINN Martin Ratio Rank: 1

MMKT

MMKT Risk / Return Rank: 100
MMKT Sharpe Ratio Rank: 100
MMKT Sortino Ratio Rank: 100
MMKT Omega Ratio Rank: 100
MMKT Calmar Ratio Rank: 100
MMKT Martin Ratio Rank: 100

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. MMKT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily China 3x Bull Shares (YINN) and Texas Capital Government Money Market ETF (MMKT). 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	MMKT	Difference
Sharpe ratio: Return per unit of total volatility	-0.64	16.75	-17.39
Sortino ratio: Return per unit of downside risk	-0.69	62.70	-63.39
Omega ratio: Gain probability vs. loss probability	0.92	15.48	-14.56
Calmar ratio: Return relative to maximum drawdown	-0.66	152.14	-152.79
Martin ratio: Return relative to average drawdown	-1.40	912.59	-913.99

YINN vs. MMKT - Sharpe Ratio Comparison

The current YINN Sharpe Ratio is -0.64, which is lower than the MMKT Sharpe Ratio of 16.75. The chart below compares the historical Sharpe Ratios of YINN and MMKT, 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. MMKT - Drawdown Comparison

The maximum YINN drawdown since its inception was -98.87%, which is greater than MMKT's maximum drawdown of -0.04%. Use the drawdown chart below to compare losses from any high point for YINN and MMKT.

Drawdown Indicators

	YINN	MMKT	Difference
Max Drawdown Largest peak-to-trough decline	-98.87%	-0.04%	-98.83%
Max Drawdown (1Y) Largest decline over 1 year	-56.99%	-0.02%	-56.97%
Max Drawdown (3Y) Largest decline over 3 years	-69.08%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-96.28%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-98.59%	—	—
Current Drawdown Current decline from peak	-97.98%	0.00%	-97.98%
Average Drawdown Average peak-to-trough decline	-68.55%	-0.00%	-68.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	26.77%	0.00%	+26.77%

Volatility

YINN vs. MMKT - Volatility Comparison

Direxion Daily China 3x Bull Shares (YINN) has a higher volatility of 18.21% compared to Texas Capital Government Money Market ETF (MMKT) at 0.05%. This indicates that YINN's price experiences larger fluctuations and is considered to be riskier than MMKT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	YINN	MMKT	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.21%	0.05%	+18.16%
Volatility (6M) Calculated over the trailing 6-month period	43.73%	0.13%	+43.60%
Volatility (1Y) Calculated over the trailing 1-year period	59.15%	0.23%	+58.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	94.33%	0.23%	+94.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	81.59%	0.23%	+81.36%

YINN vs. MMKT - Expense Ratio Comparison

YINN has a 1.52% expense ratio, which is higher than MMKT's 0.20% expense ratio.

Dividends

YINN vs. MMKT - Dividend Comparison

YINN's dividend yield for the trailing twelve months is around 1.75%, less than MMKT's 3.71% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
MMKT Texas Capital Government Money Market ETF	3.71%	3.98%	1.07%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
YINN Direxion Daily China 3x Bull Shares	1.75%	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 MMKT in my portfolio?

YINN and MMKT have a correlation of -0.13, 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 MMKT?

YINN has higher volatility (18.21%) compared to MMKT (0.05%). In terms of maximum drawdown, YINN dropped -98.87% vs MMKT's -0.04%.

Which ETF is better, YINN or MMKT?

On 1-year performance, MMKT leads with 3.78% vs -37.35% for YINN. On fees, MMKT is cheaper at 0.20% per year. On volatility, MMKT has been the lower-risk option at 0.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, YINN or MMKT?

Over the 1-year period, MMKT has performed better with a 3.78% return vs -37.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, YINN or MMKT?

MMKT is cheaper with a 0.20% expense ratio, compared with 1.52% for YINN.

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

MMKT has the higher dividend yield at 3.71%, compared with 1.75% for YINN.

What is the main difference between YINN and MMKT?

YINN is categorized as Leveraged Equities, while MMKT is Money Market. They also come from different issuers: Direxion and Texas Capital. Their fees differ too: 1.52% for YINN and 0.20% for MMKT.

Which has better risk-adjusted returns?

MMKT currently has the higher Sharpe Ratio (16.75 vs -0.64), 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.