YXI vs. FXI
YXI (ProShares Short FTSE China 50) and FXI (iShares China Large-Cap ETF) are both China Equities funds - YXI tracks the FTSE China 50 Net Tax USD (TR) (-100%) while FXI tracks the FTSE China 50 Index. Both are passively managed. Over the past 10 years, YXI returned -7.09%/yr vs 1.84%/yr for FXI. At a correlation of -0.95, they often move in opposite directions. YXI charges 0.95%/yr vs 0.74%/yr for FXI.
Performance
YXI vs. FXI - Performance Comparison
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Returns By Period
In the year-to-date period, YXI achieves a 14.77% return, which is significantly higher than FXI's -12.01% return. Over the past 10 years, YXI has underperformed FXI with an annualized return of -7.09%, while FXI has yielded a comparatively higher 1.84% annualized return.
YXI
- 1D
- 0.36%
- 1M
- 4.81%
- 6M
- 21.88%
- YTD
- 14.77%
- 1Y
- 9.36%
- 3Y*
- -8.77%
- 5Y*
- -2.35%
- 10Y*
- -7.09%
FXI
- 1D
- -0.12%
- 1M
- -4.53%
- 6M
- -17.10%
- YTD
- -12.01%
- 1Y
- -6.64%
- 3Y*
- 8.44%
- 5Y*
- -3.22%
- 10Y*
- 1.84%
YXI vs. FXI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
YXI ProShares Short FTSE China 50 | 14.77% | -22.87% | -25.36% | 12.40% | 4.78% | 13.94% | -17.95% | -14.35% | 9.63% | -28.43% |
FXI iShares China Large-Cap ETF | -12.01% | 28.95% | 28.98% | -12.42% | -20.66% | -20.06% | 8.92% | 14.90% | -13.28% | 36.26% |
Correlation
The correlation between YXI and FXI is -0.93, 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 | -0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.98 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.98 |
Correlation (All Time) Calculated using the full available price history since Mar 18, 2010 | -0.95 |
The correlation between YXI and FXI has been stable across timeframes, ranging from -0.98 to -0.93 - a consistent structural relationship.
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Return for Risk
YXI vs. FXI — Risk / Return Rank
YXI
FXI
YXI vs. FXI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short FTSE China 50 (YXI) and iShares China Large-Cap ETF (FXI). 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 | FXI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.79 | ||
| Sortino ratioReturn per unit of downside risk | +1.12 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 0.96 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 0.83 | -0.29 | +1.12 |
| Martin ratioReturn relative to average drawdown | 1.66 | -0.71 | +2.36 |
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Drawdowns
YXI vs. FXI - Drawdown Comparison
The maximum YXI drawdown since its inception was -81.15%, which is greater than FXI's maximum drawdown of -72.68%. Use the drawdown chart below to compare losses from any high point for YXI and FXI.
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Drawdown Indicators
| YXI | FXI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.15% | -72.68% | -8.47% |
Max Drawdown (1Y)Largest decline over 1 year | -11.39% | -22.94% | +11.55% |
Max Drawdown (3Y)Largest decline over 3 years | -53.12% | -28.72% | -24.40% |
Max Drawdown (5Y)Largest decline over 5 years | -57.65% | -52.44% | -5.21% |
Max Drawdown (10Y)Largest decline over 10 years | -61.79% | -60.81% | -0.98% |
Current DrawdownCurrent decline from peak | -76.57% | -30.71% | -45.86% |
Average DrawdownAverage peak-to-trough decline | -54.43% | -31.22% | -23.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.14% | 9.41% | -3.27% |
Volatility
YXI vs. FXI - Volatility Comparison
ProShares Short FTSE China 50 (YXI) has a higher volatility of 7.41% compared to iShares China Large-Cap ETF (FXI) at 6.08%. This indicates that YXI's price experiences larger fluctuations and is considered to be riskier than FXI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| YXI | FXI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.41% | 6.08% | +1.33% |
Volatility (6M)Calculated over the trailing 6-month period | 15.74% | 14.55% | +1.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.65% | 20.12% | +0.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.47% | 31.67% | -0.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.44% | 27.58% | -0.14% |
YXI vs. FXI - Expense Ratio Comparison
YXI has a 0.95% expense ratio, which is higher than FXI's 0.74% expense ratio.
Dividends
YXI vs. FXI - Dividend Comparison
YXI's dividend yield for the trailing twelve months is around 2.48%, more than FXI's 2.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FXI iShares China Large-Cap ETF | 2.03% | 2.42% | 1.76% | 3.17% | 2.61% | 1.60% | 2.19% | 2.74% | 2.69% | 2.31% | 2.69% | 2.90% |
YXI ProShares Short FTSE China 50 | 2.48% | 3.60% | 4.35% | 2.66% | 0.27% | 0.00% | 0.08% | 1.01% | 0.25% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
YXI and FXI have a correlation of -0.93, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
YXI has higher volatility (7.41%) compared to FXI (6.08%). In terms of maximum drawdown, YXI dropped -81.15% vs FXI's -72.68%.
On 10-year performance, FXI leads with 1.84% vs -7.09% for YXI. On fees, FXI is cheaper at 0.74% per year. On volatility, FXI has been the lower-risk option at 6.08%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FXI has performed better with a 1.84% return vs -7.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FXI is cheaper with a 0.74% expense ratio, compared with 0.95% for YXI.
YXI has the higher dividend yield at 2.48%, compared with 2.03% for FXI.
YXI tracks FTSE China 50 Net Tax USD (TR) (-100%), while FXI tracks FTSE China 50 Index. They also come from different issuers: ProShares and iShares. Their fees differ too: 0.95% for YXI and 0.74% for FXI.
YXI currently has the higher Sharpe Ratio (0.46 vs -0.33), 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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