YINN vs. XPP

Last updated Aug 2, 2026

YINN (Direxion Daily China 3x Bull Shares) and XPP (ProShares Ultra FTSE China 50) are both China Equities funds - YINN tracks the FTSE China 50 Index (300%) while XPP tracks the FTSE/Xinhua China 25 Index (200%). Both are passively managed. Over the past 10 years, YINN returned -19.14%/yr vs -5.62%/yr for XPP. Their 0.97 correlation means they have historically moved very closely together. YINN charges 1.52%/yr vs 0.95%/yr for XPP.

Performance

YINN vs. XPP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily China 3x Bull Shares (YINN) and ProShares Ultra FTSE China 50 (XPP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, YINN achieves a -22.99% return, which is significantly lower than XPP's -13.25% return. Over the past 10 years, YINN has underperformed XPP with an annualized return of -19.14%, while XPP has yielded a comparatively higher -5.62% annualized return.

YINN

• 1D: 0.00%
• 1M: 47.06%
• 6M: -28.89%
• YTD: -22.99%
• 1Y: -18.90%
• 3Y*: -6.92%
• 5Y*: -31.78%
• 10Y*: -19.14%
• ALL TIME*: -16.75%

XPP

• 1D: -0.03%
• 1M: 29.99%
• 6M: -18.24%
• YTD: -13.25%
• 1Y: -7.90%
• 3Y*: 4.02%
• 5Y*: -14.42%
• 10Y*: -5.62%
• ALL TIME*: -4.67%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
XPP ProShares Ultra FTSE China 50	$97.64K	$74.04K	$132.37K
YINN Direxion Daily China 3x Bull Shares	$36.72M	$38.32M	$61.80M

YINN vs. XPP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
YINN Direxion Daily China 3x Bull Shares	-22.99%	54.21%	36.06%	-53.08%	-71.97%	-58.56%	-7.75%	28.92%	-48.47%	129.79%
XPP ProShares Ultra FTSE China 50	-13.25%	45.84%	38.18%	-34.77%	-50.06%	-40.45%	7.07%	24.88%	-31.36%	80.21%

Correlation

The correlation between YINN and XPP is 0.99 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.99
Correlation (3Y) Balances recent behavior with more history.	0.99
Correlation (5Y) Shows whether the relationship held over a longer period.	1.00
Correlation (10Y) Provides a long-term view across more market conditions.	0.99
Correlation (All Time) Calculated using the full available price history since Dec 3, 2009	0.97

The correlation between YINN and XPP has been stable across timeframes, ranging from 0.97 to 1.00 - a consistent structural relationship.

YINN vs. XPP - Sectors Allocation Comparison

Sectors	YINN	XPP
Financial Services	35.2%	48.4%
Consumer Cyclical	25.3%	-
Communication Services	17.8%	-
Technology	5.9%	-
Energy	4.8%	-
Basic Materials	3.4%	-
Industrials	2.8%	-
Healthcare	2.6%	-
Real Estate	1.0%	-
Consumer Defensive	0.8%	-
Utilities	0.3%	-

Return for Risk

YINN vs. XPP — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

YINN

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

XPP

XPP Risk / Return Rank: 8
XPP Sharpe Ratio Rank: 7
XPP Sortino Ratio Rank: 8
XPP Omega Ratio Rank: 8
XPP Calmar Ratio Rank: 8
XPP Martin Ratio Rank: 7

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

YINN vs. XPP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily China 3x Bull Shares (YINN) and ProShares Ultra FTSE China 50 (XPP). 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	XPP	Difference
Sharpe ratio: Return per unit of total volatility	-0.38	-0.27	-0.11
Sortino ratio: Return per unit of downside risk	-0.18	-0.12	-0.06
Omega ratio: Gain probability vs. loss probability	0.98	0.99	-0.01
Calmar ratio: Return relative to maximum drawdown	-0.37	-0.24	-0.13
Martin ratio: Return relative to average drawdown	-0.71	-0.50	-0.21

YINN vs. XPP - Sharpe Ratio Comparison

The current YINN Sharpe Ratio is -0.38, which is lower than the XPP Sharpe Ratio of -0.27. The chart below compares the historical Sharpe Ratios of YINN and XPP, 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. XPP - Drawdown Comparison

The maximum YINN drawdown since its inception was -98.87%, which is greater than XPP's maximum drawdown of -89.90%. Use the drawdown chart below to compare losses from any high point for YINN and XPP.

Drawdown Indicators

	YINN	XPP	Difference
Max Drawdown Largest peak-to-trough decline	-98.87%	-89.90%	-8.97%
Max Drawdown (1Y) Largest decline over 1 year	-61.64%	-44.78%	-16.86%
Max Drawdown (3Y) Largest decline over 3 years	-65.88%	-49.83%	-16.05%
Max Drawdown (5Y) Largest decline over 5 years	-94.54%	-81.38%	-13.16%
Max Drawdown (10Y) Largest decline over 10 years	-98.59%	-89.90%	-8.69%
Current Drawdown Current decline from peak	-97.27%	-77.04%	-20.23%
Average Drawdown Average peak-to-trough decline	-68.74%	-48.11%	-20.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	31.90%	21.55%	+10.35%

Volatility

YINN vs. XPP - Volatility Comparison

Direxion Daily China 3x Bull Shares (YINN) has a higher volatility of 15.13% compared to ProShares Ultra FTSE China 50 (XPP) at 10.66%. This indicates that YINN's price experiences larger fluctuations and is considered to be riskier than XPP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	YINN	XPP	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.13%	10.66%	+4.47%
Volatility (6M) Calculated over the trailing 6-month period	43.51%	29.57%	+13.94%
Volatility (1Y) Calculated over the trailing 1-year period	60.16%	40.39%	+19.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	93.51%	62.33%	+31.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	81.59%	54.80%	+26.79%

YINN vs. XPP - Expense Ratio Comparison

YINN has a 1.52% expense ratio, which is higher than XPP's 0.95% expense ratio.

Dividends

YINN vs. XPP - Dividend Comparison

YINN's dividend yield for the trailing twelve months is around 1.16%, less than XPP's 2.41% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
XPP ProShares Ultra FTSE China 50	2.41%	2.32%	2.96%	2.87%	0.00%	0.00%	0.00%	3.81%	1.47%	0.00%
YINN Direxion Daily China 3x Bull Shares	1.16%	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 XPP in my portfolio?

With a correlation of 0.99, YINN and XPP move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, YINN or XPP?

YINN has higher volatility (15.13%) compared to XPP (10.66%). In terms of maximum drawdown, YINN dropped -98.87% vs XPP's -89.90%.

Which ETF is better, YINN or XPP?

On 10-year performance, XPP leads with -5.62% vs -19.14% for YINN. On fees, XPP is cheaper at 0.95% per year. On volatility, XPP has been the lower-risk option at 10.66%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, YINN or XPP?

Over the 10-year period, XPP has performed better with a -5.62% return vs -19.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, YINN or XPP?

XPP is cheaper with a 0.95% expense ratio, compared with 1.52% for YINN.

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

XPP has the higher dividend yield at 2.41%, compared with 1.16% for YINN.

What is the main difference between YINN and XPP?

YINN tracks FTSE China 50 Index (300%), while XPP tracks FTSE/Xinhua China 25 Index (200%). They also come from different issuers: Direxion and ProShares. Their fees differ too: 1.52% for YINN and 0.95% for XPP.

Which has better risk-adjusted returns?

XPP currently has the higher Sharpe Ratio (-0.27 vs -0.38), 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.