YXI vs. FIAT
YXI (ProShares Short FTSE China 50) and FIAT (YieldMax Short COIN Option Income Strategy ETF) are both exchange-traded funds - YXI is a Inverse Equities fund tracking the FTSE China 50 Net Tax USD (TR) (-100%), while FIAT is a Derivative Income fund actively managed by YieldMax. YXI is passively managed, while FIAT is actively managed. Over the past year, YXI returned 0.05% vs -0.18% for FIAT. At a 0.30 correlation, their price movements are largely independent. YXI charges 0.95%/yr vs 0.99%/yr for FIAT.
Performance
YXI vs. FIAT - Performance Comparison
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Returns By Period
In the year-to-date period, YXI achieves a 8.21% return, which is significantly lower than FIAT's 13.84% return.
YXI
- 1D
- 1.95%
- 1M
- 2.80%
- YTD
- 8.21%
- 6M
- 9.88%
- 1Y
- 0.05%
- 3Y*
- -11.68%
- 5Y*
- -2.65%
- 10Y*
- -8.25%
FIAT
- 1D
- 4.32%
- 1M
- 16.99%
- YTD
- 13.84%
- 6M
- 33.71%
- 1Y
- -0.18%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
YXI vs. FIAT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
YXI ProShares Short FTSE China 50 | 8.21% | -22.87% | -17.49% |
FIAT YieldMax Short COIN Option Income Strategy ETF | 13.84% | -24.17% | -28.61% |
Correlation
The correlation between YXI and FIAT is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since Jul 11, 2024 | 0.30 |
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Return for Risk
YXI vs. FIAT — Risk / Return Rank
YXI
FIAT
YXI vs. FIAT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short FTSE China 50 (YXI) and YieldMax Short COIN Option Income Strategy ETF (FIAT). 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.
| YXI | FIAT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.22 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.05 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.00 | -0.00 | +0.01 |
| Martin ratioReturn relative to average drawdown | 0.01 | -0.01 | +0.01 |
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
| YXI | FIAT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.00 | -0.00 | +0.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.08 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.30 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.30 | -0.37 | +0.07 |
Drawdowns
YXI vs. FIAT - Drawdown Comparison
The maximum YXI drawdown since its inception was -81.15%, which is greater than FIAT's maximum drawdown of -70.50%. Use the drawdown chart below to compare losses from any high point for YXI and FIAT.
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Drawdown Indicators
| YXI | FIAT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.15% | -70.50% | -10.65% |
Max Drawdown (1Y)Largest decline over 1 year | -14.21% | -42.26% | +28.05% |
Max Drawdown (3Y)Largest decline over 3 years | -53.12% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -57.65% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -64.92% | — | — |
Current DrawdownCurrent decline from peak | -77.90% | -50.94% | -26.96% |
Average DrawdownAverage peak-to-trough decline | -54.31% | -45.35% | -8.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.18% | 27.32% | -19.14% |
Volatility
YXI vs. FIAT - Volatility Comparison
The current volatility for ProShares Short FTSE China 50 (YXI) is 7.21%, while YieldMax Short COIN Option Income Strategy ETF (FIAT) has a volatility of 15.34%. This indicates that YXI experiences smaller price fluctuations and is considered to be less risky than FIAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| YXI | FIAT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.21% | 15.34% | -8.13% |
Volatility (6M)Calculated over the trailing 6-month period | 14.86% | 42.03% | -27.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.97% | 55.49% | -35.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.40% | 60.56% | -29.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.42% | 60.56% | -33.14% |
YXI vs. FIAT - Expense Ratio Comparison
YXI has a 0.95% expense ratio, which is lower than FIAT's 0.99% expense ratio.
Dividends
YXI vs. FIAT - Dividend Comparison
YXI's dividend yield for the trailing twelve months is around 2.84%, less than FIAT's 93.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
FIAT YieldMax Short COIN Option Income Strategy ETF | 93.28% | 178.11% | 70.99% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
YXI ProShares Short FTSE China 50 | 2.84% | 3.60% | 4.35% | 2.66% | 0.27% | 0.00% | 0.08% | 1.01% | 0.25% |
Frequently Asked Questions
YXI and FIAT have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FIAT has higher volatility (15.34%) compared to YXI (7.21%). In terms of maximum drawdown, YXI dropped -81.15% vs FIAT's -70.50%.
On 1-year performance, YXI leads with 0.05% vs -0.18% for FIAT. On fees, YXI is cheaper at 0.95% per year. On volatility, YXI has been the lower-risk option at 7.21%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, YXI has performed better with a 0.05% return vs -0.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
YXI is cheaper with a 0.95% expense ratio, compared with 0.99% for FIAT.
FIAT has the higher dividend yield at 93.28%, compared with 2.84% for YXI.
YXI is categorized as Inverse Equities, while FIAT is Derivative Income. They also come from different issuers: ProShares and YieldMax. Their fees differ too: 0.95% for YXI and 0.99% for FIAT.
YXI currently has the higher Sharpe Ratio (0.00 vs -0.00), 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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