YXI vs. FLYD
YXI (ProShares Short FTSE China 50) and FLYD (MicroSectors Travel -3X Inverse Leveraged ETNs) are both Inverse Equities funds - YXI tracks the FTSE China 50 Net Tax USD (TR) (-100%) while FLYD tracks the MerQube MicroSectors U.S. Travel Index. Both are passively managed. Over the past 3 years, YXI returned -11.86%/yr vs -55.38%/yr for FLYD. At a 0.37 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.
Performance
YXI vs. FLYD - Performance Comparison
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Returns By Period
In the year-to-date period, YXI achieves a 7.60% return, which is significantly higher than FLYD's -13.05% return.
YXI
- 1D
- -0.56%
- 1M
- 2.15%
- YTD
- 7.60%
- 6M
- 9.50%
- 1Y
- 1.04%
- 3Y*
- -11.86%
- 5Y*
- -2.76%
- 10Y*
- -8.18%
FLYD
- 1D
- -2.08%
- 1M
- -17.48%
- YTD
- -13.05%
- 6M
- -22.60%
- 1Y
- -49.08%
- 3Y*
- -55.38%
- 5Y*
- —
- 10Y*
- —
YXI vs. FLYD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
YXI ProShares Short FTSE China 50 | 7.60% | -22.87% | -25.36% | 12.40% | 5.79% |
FLYD MicroSectors Travel -3X Inverse Leveraged ETNs | -13.05% | -60.42% | -54.13% | -75.14% | -46.23% |
Correlation
The correlation between YXI and FLYD is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Jun 23, 2022 | 0.37 |
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Return for Risk
YXI vs. FLYD — Risk / Return Rank
YXI
FLYD
YXI vs. FLYD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short FTSE China 50 (YXI) and MicroSectors Travel -3X Inverse Leveraged ETNs (FLYD). 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 | FLYD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.71 | ||
| Sortino ratioReturn per unit of downside risk | +0.92 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 0.92 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.07 | -0.90 | +0.97 |
| Martin ratioReturn relative to average drawdown | 0.13 | -1.32 | +1.45 |
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 | FLYD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.05 | -0.66 | +0.71 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.09 | — | — |
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 | -0.75 | +0.44 |
Drawdowns
YXI vs. FLYD - Drawdown Comparison
The maximum YXI drawdown since its inception was -81.15%, smaller than the maximum FLYD drawdown of -98.11%. Use the drawdown chart below to compare losses from any high point for YXI and FLYD.
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Drawdown Indicators
| YXI | FLYD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.15% | -98.11% | +16.96% |
Max Drawdown (1Y)Largest decline over 1 year | -14.21% | -54.89% | +40.68% |
Max Drawdown (3Y)Largest decline over 3 years | -53.12% | -93.41% | +40.29% |
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 | -78.03% | -97.99% | +19.96% |
Average DrawdownAverage peak-to-trough decline | -54.31% | -83.14% | +28.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.79% | 37.21% | -29.42% |
Volatility
YXI vs. FLYD - Volatility Comparison
The current volatility for ProShares Short FTSE China 50 (YXI) is 7.25%, while MicroSectors Travel -3X Inverse Leveraged ETNs (FLYD) has a volatility of 25.78%. This indicates that YXI experiences smaller price fluctuations and is considered to be less risky than FLYD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| YXI | FLYD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.25% | 25.78% | -18.53% |
Volatility (6M)Calculated over the trailing 6-month period | 14.87% | 59.42% | -44.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.93% | 74.48% | -54.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.39% | 83.67% | -52.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.42% | 83.67% | -56.25% |
YXI vs. FLYD - Expense Ratio Comparison
Both YXI and FLYD have an expense ratio of 0.95%.
Dividends
YXI vs. FLYD - Dividend Comparison
YXI's dividend yield for the trailing twelve months is around 2.85%, while FLYD has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
FLYD MicroSectors Travel -3X Inverse Leveraged ETNs | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
YXI ProShares Short FTSE China 50 | 2.85% | 3.60% | 4.35% | 2.66% | 0.27% | 0.00% | 0.08% | 1.01% | 0.25% |
Frequently Asked Questions
YXI and FLYD have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FLYD has higher volatility (25.78%) compared to YXI (7.25%). In terms of maximum drawdown, YXI dropped -81.15% vs FLYD's -98.11%.
On 3-year performance, YXI leads with -11.86% vs -55.38% for FLYD. Both ETFs have the same 0.95% expense ratio. On volatility, YXI has been the lower-risk option at 7.25%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, YXI has performed better with a -11.86% return vs -55.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
YXI and FLYD have the same expense ratio: 0.95% per year.
YXI has the higher dividend yield at 2.85%, compared with 0.00% for FLYD.
YXI tracks FTSE China 50 Net Tax USD (TR) (-100%), while FLYD tracks MerQube MicroSectors U.S. Travel Index. They also come from different issuers: ProShares and REX.
YXI currently has the higher Sharpe Ratio (0.05 vs -0.66), 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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