YINN vs. SPXS
YINN (Direxion Daily China 3x Bull Shares) and SPXS (Direxion Daily S&P 500 Bear 3X Shares) are both exchange-traded funds - YINN is a Leveraged Equities fund tracking the FTSE China 50 Index (300%), while SPXS is a Inverse Equities fund tracking the S&P 500 Index (-300%). Both are passively managed. Over the past 10 years, YINN returned -19.13%/yr vs -41.99%/yr for SPXS. At a correlation of -0.58, they often move in opposite directions. YINN charges 1.52%/yr vs 1.08%/yr for SPXS.
Performance
YINN vs. SPXS - Performance Comparison
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Returns By Period
In the year-to-date period, YINN achieves a -28.25% return, which is significantly lower than SPXS's -26.34% return. Over the past 10 years, YINN has outperformed SPXS with an annualized return of -19.13%, while SPXS has yielded a comparatively lower -41.99% annualized return.
YINN
- 1D
- -0.52%
- 1M
- -10.06%
- YTD
- -28.25%
- 6M
- -32.42%
- 1Y
- -20.61%
- 3Y*
- -2.89%
- 5Y*
- -38.69%
- 10Y*
- -19.13%
SPXS
- 1D
- -1.15%
- 1M
- -12.09%
- YTD
- -26.34%
- 6M
- -25.57%
- 1Y
- -49.42%
- 3Y*
- -43.02%
- 5Y*
- -34.91%
- 10Y*
- -41.99%
YINN vs. SPXS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
YINN Direxion Daily China 3x Bull Shares | -28.25% | 54.21% | 36.06% | -53.08% | -71.97% | -58.56% | -7.75% | 28.92% | -48.47% | 129.79% |
SPXS Direxion Daily S&P 500 Bear 3X Shares | -26.34% | -41.53% | -42.84% | -45.97% | 36.14% | -58.11% | -70.47% | -56.40% | 3.44% | -44.52% |
Correlation
The correlation between YINN and SPXS is -0.46, 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 | -0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.39 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.40 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.50 |
Correlation (All Time) Calculated using the full available price history since Dec 4, 2009 | -0.58 |
The correlation between YINN and SPXS shifts across timeframes, from -0.58 (all time) to -0.39 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
YINN vs. SPXS — Risk / Return Rank
YINN
SPXS
YINN vs. SPXS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily China 3x Bull Shares (YINN) and Direxion Daily S&P 500 Bear 3X Shares (SPXS). 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.
| YINN | SPXS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.04 | ||
| Sortino ratioReturn per unit of downside risk | +2.21 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 0.75 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | -0.43 | -0.98 | +0.54 |
| Martin ratioReturn relative to average drawdown | -0.85 | -1.64 | +0.79 |
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
| YINN | SPXS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.35 | -1.40 | +1.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.41 | -0.70 | +0.28 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.23 | -0.79 | +0.55 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.22 | -0.84 | +0.62 |
Drawdowns
YINN vs. SPXS - Drawdown Comparison
The maximum YINN drawdown since its inception was -98.87%, roughly equal to the maximum SPXS drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for YINN and SPXS.
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Drawdown Indicators
| YINN | SPXS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.87% | -100.00% | +1.13% |
Max Drawdown (1Y)Largest decline over 1 year | -47.74% | -50.77% | +3.03% |
Max Drawdown (3Y)Largest decline over 3 years | -69.08% | -84.13% | +15.05% |
Max Drawdown (5Y)Largest decline over 5 years | -96.28% | -90.11% | -6.17% |
Max Drawdown (10Y)Largest decline over 10 years | -98.59% | -99.63% | +1.04% |
Current DrawdownCurrent decline from peak | -97.46% | -100.00% | +2.54% |
Average DrawdownAverage peak-to-trough decline | -68.48% | -96.30% | +27.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.39% | 30.20% | -5.81% |
Volatility
YINN vs. SPXS - Volatility Comparison
Direxion Daily China 3x Bull Shares (YINN) has a higher volatility of 21.19% compared to Direxion Daily S&P 500 Bear 3X Shares (SPXS) at 8.36%. This indicates that YINN's price experiences larger fluctuations and is considered to be riskier than SPXS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| YINN | SPXS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.19% | 8.36% | +12.83% |
Volatility (6M)Calculated over the trailing 6-month period | 42.60% | 26.83% | +15.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 58.73% | 35.52% | +23.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 94.19% | 50.38% | +43.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 81.78% | 53.53% | +28.25% |
YINN vs. SPXS - Expense Ratio Comparison
YINN has a 1.52% expense ratio, which is higher than SPXS's 1.08% expense ratio.
Dividends
YINN vs. SPXS - Dividend Comparison
YINN's dividend yield for the trailing twelve months is around 1.39%, less than SPXS's 4.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
SPXS Direxion Daily S&P 500 Bear 3X Shares | 4.97% | 4.93% | 6.18% | 5.66% | 0.00% | 0.00% | 0.51% | 1.74% | 0.58% | 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
YINN and SPXS have a correlation of -0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
YINN has higher volatility (21.19%) compared to SPXS (8.36%). In terms of maximum drawdown, YINN dropped -98.87% vs SPXS's -100.00%.
On 10-year performance, YINN leads with -19.13% vs -41.99% for SPXS. On fees, SPXS is cheaper at 1.08% per year. On volatility, SPXS has been the lower-risk option at 8.36%. 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 -19.13% return vs -41.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPXS is cheaper with a 1.08% expense ratio, compared with 1.52% for YINN.
SPXS has the higher dividend yield at 4.97%, compared with 1.39% for YINN.
YINN is categorized as Leveraged Equities, while SPXS is Inverse Equities. YINN tracks FTSE China 50 Index (300%), while SPXS tracks S&P 500 Index (-300%). Their fees differ too: 1.52% for YINN and 1.08% for SPXS.
YINN currently has the higher Sharpe Ratio (-0.35 vs -1.40), 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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