YXI vs. FLCH
YXI (ProShares Short FTSE China 50) and FLCH (Franklin FTSE China ETF) are both China Equities funds - YXI tracks the FTSE China 50 Net Tax USD (TR) (-100%) while FLCH tracks the FTSE China RIC Capped Index. Both are passively managed. Over the past 5 years, YXI returned -2.73%/yr vs -4.29%/yr for FLCH. At a correlation of -0.94, they often move in opposite directions. YXI charges 0.95%/yr vs 0.19%/yr for FLCH.
Performance
YXI vs. FLCH - Performance Comparison
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Returns By Period
In the year-to-date period, YXI achieves a 12.29% return, which is significantly higher than FLCH's -8.52% return.
YXI
- 1D
- -0.91%
- 1M
- 3.13%
- 6M
- 17.42%
- YTD
- 12.29%
- 1Y
- 9.77%
- 3Y*
- -9.43%
- 5Y*
- -2.73%
- 10Y*
- -7.29%
FLCH
- 1D
- 2.13%
- 1M
- -1.40%
- 6M
- -13.12%
- YTD
- -8.52%
- 1Y
- -0.89%
- 3Y*
- 8.61%
- 5Y*
- -4.29%
- 10Y*
- —
YXI vs. FLCH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
YXI ProShares Short FTSE China 50 | 12.29% | -22.87% | -25.36% | 12.40% | 4.78% | 13.94% | -17.95% | -14.35% | 9.63% | -2.53% |
FLCH Franklin FTSE China ETF | -8.52% | 32.55% | 18.00% | -11.21% | -22.74% | -20.87% | 30.09% | 24.32% | -19.52% | 1.51% |
Correlation
The correlation between YXI and FLCH is -0.87, 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 | -0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.93 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.95 |
Correlation (All Time) Calculated using the full available price history since Nov 6, 2017 | -0.94 |
The correlation between YXI and FLCH has been stable across timeframes, ranging from -0.95 to -0.87 - a consistent structural relationship.
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Return for Risk
YXI vs. FLCH — Risk / Return Rank
YXI
FLCH
YXI vs. FLCH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short FTSE China 50 (YXI) and Franklin FTSE China ETF (FLCH). 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.
| YXI | FLCH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.52 | ||
| Sortino ratioReturn per unit of downside risk | +0.73 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.01 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 0.86 | -0.04 | +0.90 |
| Martin ratioReturn relative to average drawdown | 1.73 | -0.09 | +1.82 |
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Drawdowns
YXI vs. FLCH - Drawdown Comparison
The maximum YXI drawdown since its inception was -81.15%, which is greater than FLCH's maximum drawdown of -62.09%. Use the drawdown chart below to compare losses from any high point for YXI and FLCH.
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Drawdown Indicators
| YXI | FLCH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.15% | -62.09% | -19.06% |
Max Drawdown (1Y)Largest decline over 1 year | -11.39% | -21.48% | +10.09% |
Max Drawdown (3Y)Largest decline over 3 years | -53.12% | -25.43% | -27.69% |
Max Drawdown (5Y)Largest decline over 5 years | -57.65% | -52.77% | -4.88% |
Max Drawdown (10Y)Largest decline over 10 years | -61.79% | — | — |
Current DrawdownCurrent decline from peak | -77.07% | -35.52% | -41.55% |
Average DrawdownAverage peak-to-trough decline | -54.45% | -30.60% | -23.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.66% | 9.59% | -3.93% |
Volatility
YXI vs. FLCH - Volatility Comparison
ProShares Short FTSE China 50 (YXI) has a higher volatility of 7.44% compared to Franklin FTSE China ETF (FLCH) at 6.01%. This indicates that YXI's price experiences larger fluctuations and is considered to be riskier than FLCH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| YXI | FLCH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.44% | 6.01% | +1.43% |
Volatility (6M)Calculated over the trailing 6-month period | 15.44% | 13.73% | +1.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.65% | 19.69% | +0.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.47% | 29.59% | +1.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.44% | 27.81% | -0.37% |
YXI vs. FLCH - Expense Ratio Comparison
YXI has a 0.95% expense ratio, which is higher than FLCH's 0.19% expense ratio.
Dividends
YXI vs. FLCH - Dividend Comparison
YXI's dividend yield for the trailing twelve months is around 2.53%, more than FLCH's 2.37% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
FLCH Franklin FTSE China ETF | 2.37% | 2.36% | 2.87% | 3.47% | 2.69% | 1.48% | 0.91% | 1.98% | 1.92% | 0.01% |
YXI ProShares Short FTSE China 50 | 2.53% | 3.60% | 4.35% | 2.66% | 0.27% | 0.00% | 0.08% | 1.01% | 0.25% | 0.00% |
Frequently Asked Questions
YXI and FLCH have a correlation of -0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
YXI has higher volatility (7.44%) compared to FLCH (6.01%). In terms of maximum drawdown, YXI dropped -81.15% vs FLCH's -62.09%.
On 5-year performance, YXI leads with -2.73% vs -4.29% for FLCH. On fees, FLCH is cheaper at 0.19% per year. On volatility, FLCH has been the lower-risk option at 6.01%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, YXI has performed better with a -2.73% return vs -4.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FLCH is cheaper with a 0.19% expense ratio, compared with 0.95% for YXI.
YXI has the higher dividend yield at 2.53%, compared with 2.37% for FLCH.
YXI tracks FTSE China 50 Net Tax USD (TR) (-100%), while FLCH tracks FTSE China RIC Capped Index. They also come from different issuers: ProShares and Franklin Templeton. Their fees differ too: 0.95% for YXI and 0.19% for FLCH.
YXI currently has the higher Sharpe Ratio (0.48 vs -0.05), 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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