YINN vs. YANG
YINN (Direxion Daily China 3x Bull Shares) and YANG (Direxion Daily China 3x Bear Shares) are both China Equities funds from Direxion - YINN tracks the FTSE China 50 Index (300%) while YANG tracks the FTSE China 50 Index (-300%). Both are passively managed. Over the past 10 years, YINN returned -21.07%/yr vs -36.60%/yr for YANG. At a correlation of -0.99, they often move in opposite directions. YINN charges 1.52%/yr vs 1.07%/yr for YANG.
Performance
YINN vs. YANG - Performance Comparison
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Returns By Period
In the year-to-date period, YINN achieves a -39.86% return, which is significantly lower than YANG's 37.76% return. Over the past 10 years, YINN has outperformed YANG with an annualized return of -21.07%, while YANG has yielded a comparatively lower -36.60% annualized return.
YINN
- 1D
- 0.60%
- 1M
- -14.15%
- 6M
- -44.08%
- YTD
- -39.86%
- 1Y
- -35.50%
- 3Y*
- -7.79%
- 5Y*
- -38.66%
- 10Y*
- -21.07%
YANG
- 1D
- -0.41%
- 1M
- 13.56%
- 6M
- 50.58%
- YTD
- 37.76%
- 1Y
- 12.51%
- 3Y*
- -43.64%
- 5Y*
- -33.53%
- 10Y*
- -36.60%
YINN vs. YANG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
YINN Direxion Daily China 3x Bull Shares | -39.86% | 54.21% | 36.06% | -53.08% | -71.97% | -58.56% | -7.75% | 28.92% | -48.47% | 129.79% |
YANG Direxion Daily China 3x Bear Shares | 37.76% | -62.77% | -71.41% | 11.95% | -41.34% | 25.90% | -58.66% | -40.72% | 13.14% | -64.93% |
Correlation
The correlation between YINN and YANG is -1.00, 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 | -1.00 |
Correlation (3Y) Calculated over the trailing 3-year period | -1.00 |
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 | -0.99 |
The correlation between YINN and YANG has been stable across timeframes, ranging from -1.00 to -0.99 - a consistent structural relationship.
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Return for Risk
YINN vs. YANG — Risk / Return Rank
YINN
YANG
YINN vs. YANG - 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 China 3x Bear Shares (YANG). 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 | YANG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.82 | ||
| Sortino ratioReturn per unit of downside risk | -1.35 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 1.09 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | -0.58 | 0.38 | -0.96 |
| Martin ratioReturn relative to average drawdown | -1.21 | 0.66 | -1.86 |
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Drawdowns
YINN vs. YANG - Drawdown Comparison
The maximum YINN drawdown since its inception was -98.87%, roughly equal to the maximum YANG drawdown of -99.98%. Use the drawdown chart below to compare losses from any high point for YINN and YANG.
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Drawdown Indicators
| YINN | YANG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.87% | -99.98% | +1.11% |
Max Drawdown (1Y)Largest decline over 1 year | -61.64% | -33.79% | -27.85% |
Max Drawdown (3Y)Largest decline over 3 years | -69.08% | -94.02% | +24.94% |
Max Drawdown (5Y)Largest decline over 5 years | -95.56% | -97.38% | +1.82% |
Max Drawdown (10Y)Largest decline over 10 years | -98.59% | -99.38% | +0.79% |
Current DrawdownCurrent decline from peak | -97.87% | -99.97% | +2.10% |
Average DrawdownAverage peak-to-trough decline | -68.64% | -90.55% | +21.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 29.67% | 19.62% | +10.05% |
Volatility
YINN vs. YANG - Volatility Comparison
Direxion Daily China 3x Bull Shares (YINN) and Direxion Daily China 3x Bear Shares (YANG) have volatilities of 18.27% and 18.34%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| YINN | YANG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.27% | 18.34% | -0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 43.42% | 43.22% | +0.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 59.49% | 59.49% | 0.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 94.16% | 94.38% | -0.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 81.55% | 81.88% | -0.33% |
YINN vs. YANG - Expense Ratio Comparison
YINN has a 1.52% expense ratio, which is higher than YANG's 1.07% expense ratio.
Dividends
YINN vs. YANG - Dividend Comparison
YINN's dividend yield for the trailing twelve months is around 1.48%, less than YANG's 2.68% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
YANG Direxion Daily China 3x Bear Shares | 2.68% | 4.03% | 9.42% | 3.66% | 0.00% | 0.00% | 0.67% | 1.54% | 0.56% | 0.00% |
YINN Direxion Daily China 3x Bull Shares | 1.48% | 1.12% | 1.81% | 4.17% | 1.16% | 0.73% | 0.76% | 1.38% | 1.02% | 1.11% |
Frequently Asked Questions
YINN and YANG have a correlation of -1.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
YANG has higher volatility (18.34%) compared to YINN (18.27%). In terms of maximum drawdown, YINN dropped -98.87% vs YANG's -99.98%.
On 10-year performance, YINN leads with -21.07% vs -36.60% for YANG. On fees, YANG is cheaper at 1.07% per year. Their volatility is very similar. 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 -21.07% return vs -36.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
YANG is cheaper with a 1.07% expense ratio, compared with 1.52% for YINN.
YANG has the higher dividend yield at 2.68%, compared with 1.48% for YINN.
YINN tracks FTSE China 50 Index (300%), while YANG tracks FTSE China 50 Index (-300%). Their fees differ too: 1.52% for YINN and 1.07% for YANG.
YANG currently has the higher Sharpe Ratio (0.22 vs -0.60), 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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