YINN vs. SPY

Last updated Jun 5, 2026

YINN (Direxion Daily China 3x Bull Shares) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - YINN is a Leveraged Equities fund tracking the FTSE China 50 Index (300%), while SPY is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, YINN returned -19.13%/yr vs 15.48%/yr for SPY. A 0.58 correlation means they provide meaningful diversification when combined. YINN charges 1.52%/yr vs 0.09%/yr for SPY.

Performance

YINN vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily China 3x Bull Shares (YINN) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, YINN achieves a -28.25% return, which is significantly lower than SPY's 11.33% return. Over the past 10 years, YINN has underperformed SPY with an annualized return of -19.13%, while SPY has yielded a comparatively higher 15.48% 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%

SPY

• 1D: 0.38%
• 1M: 4.60%
• YTD: 11.33%
• 6M: 11.25%
• 1Y: 28.50%
• 3Y*: 22.58%
• 5Y*: 13.91%
• 10Y*: 15.48%

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

YINN vs. SPY - 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%
SPY State Street SPDR S&P 500 ETF	11.33%	17.72%	24.89%	26.18%	-18.18%	28.73%	18.33%	31.22%	-4.57%	21.71%

Correlation

The correlation between YINN and SPY is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	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 SPY shifts across timeframes, from 0.39 (3 years) to 0.58 (all time), reflecting how their relationship changes across market environments.

YINN vs. SPY - Sectors Allocation Comparison

Sectors	YINN	SPY
Financial Services	34.7%	11.8%
Consumer Cyclical	27.4%	10.3%
Communication Services	15.7%	11.3%
Energy	5.6%	3.6%
Technology	5.5%	35.9%
Basic Materials	4.2%	1.8%
Industrials	2.4%	7.8%
Healthcare	2.3%	8.4%
Real Estate	1.0%	1.9%
Consumer Defensive	0.9%	4.8%
Utilities	0.4%	2.4%

Return for Risk

YINN vs. SPY — Risk / Return Rank

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

YINN

YINN Risk / Return Rank: 6
YINN Sharpe Ratio Rank: 6
YINN Sortino Ratio Rank: 7
YINN Omega Ratio Rank: 7
YINN Calmar Ratio Rank: 5
YINN Martin Ratio Rank: 5

SPY

SPY Risk / Return Rank: 74
SPY Sharpe Ratio Rank: 76
SPY Sortino Ratio Rank: 74
SPY Omega Ratio Rank: 75
SPY Calmar Ratio Rank: 66
SPY Martin Ratio Rank: 78

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. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily China 3x Bull Shares (YINN) and State Street SPDR S&P 500 ETF (SPY). 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	SPY	Difference
Sharpe ratio: Return per unit of total volatility	-0.35	2.42	-2.78
Sortino ratio: Return per unit of downside risk	-0.15	3.29	-3.44
Omega ratio: Gain probability vs. loss probability	0.98	1.44	-0.46
Calmar ratio: Return relative to maximum drawdown	-0.43	3.22	-3.66
Martin ratio: Return relative to average drawdown	-0.85	14.99	-15.84
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

YINN vs. SPY - Sharpe Ratio Comparison

The current YINN Sharpe Ratio is -0.35, which is lower than the SPY Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of YINN and SPY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	YINN	SPY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.35	2.42	-2.78
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.41	0.82	-1.23
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.23	0.87	-1.10
Sharpe Ratio (All Time) Calculated using the full available price history	-0.22	0.59	-0.81

Drawdowns

YINN vs. SPY - Drawdown Comparison

The maximum YINN drawdown since its inception was -98.87%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for YINN and SPY.

Drawdown Indicators

	YINN	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-98.87%	-55.19%	-43.68%
Max Drawdown (1Y) Largest decline over 1 year	-47.74%	-8.88%	-38.86%
Max Drawdown (3Y) Largest decline over 3 years	-69.08%	-18.76%	-50.32%
Max Drawdown (5Y) Largest decline over 5 years	-96.28%	-24.50%	-71.78%
Max Drawdown (10Y) Largest decline over 10 years	-98.59%	-33.72%	-64.87%
Current Drawdown Current decline from peak	-97.46%	-0.33%	-97.13%
Average Drawdown Average peak-to-trough decline	-68.48%	-9.05%	-59.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.39%	1.91%	+22.48%

Volatility

YINN vs. SPY - Volatility Comparison

Direxion Daily China 3x Bull Shares (YINN) has a higher volatility of 21.19% compared to State Street SPDR S&P 500 ETF (SPY) at 2.79%. This indicates that YINN's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	YINN	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.19%	2.79%	+18.40%
Volatility (6M) Calculated over the trailing 6-month period	42.60%	8.91%	+33.69%
Volatility (1Y) Calculated over the trailing 1-year period	58.73%	11.82%	+46.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	94.19%	17.05%	+77.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	81.78%	17.93%	+63.85%

YINN vs. SPY - Expense Ratio Comparison

YINN has a 1.52% expense ratio, which is higher than SPY's 0.09% expense ratio.

Dividends

YINN vs. SPY - Dividend Comparison

YINN's dividend yield for the trailing twelve months is around 1.39%, more than SPY's 0.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPY State Street SPDR S&P 500 ETF	0.98%	1.07%	1.21%	1.40%	1.65%	1.20%	1.52%	1.75%	2.04%	1.80%	2.03%	2.06%
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%	0.00%	0.00%

Frequently Asked Questions

Can I hold both YINN and SPY in my portfolio?

YINN and SPY 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.

Which is riskier, YINN or SPY?

YINN has higher volatility (21.19%) compared to SPY (2.79%). In terms of maximum drawdown, YINN dropped -98.87% vs SPY's -55.19%.

Which ETF is better, YINN or SPY?

On 10-year performance, SPY leads with 15.48% vs -19.13% for YINN. On fees, SPY is cheaper at 0.09% per year. On volatility, SPY has been the lower-risk option at 2.79%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, YINN or SPY?

Over the 10-year period, SPY has performed better with a 15.48% return vs -19.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, YINN or SPY?

SPY is cheaper with a 0.09% expense ratio, compared with 1.52% for YINN.

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

YINN has the higher dividend yield at 1.39%, compared with 0.98% for SPY.

What is the main difference between YINN and SPY?

YINN is categorized as Leveraged Equities, while SPY is S&P 500. YINN tracks FTSE China 50 Index (300%), while SPY tracks S&P 500 Index. They also come from different issuers: Direxion and State Street. Their fees differ too: 1.52% for YINN and 0.09% for SPY.

Which has better risk-adjusted returns?

SPY currently has the higher Sharpe Ratio (2.42 vs -0.35), 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.